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ADNOC Gas awarded engineering, procurement and construction (EPC) contracts totalling $4.9 billion last year to drive capacity expansion.
A $3.6 billion contract was awarded for commissioning new capacity and expanding gas processing facilities, the ADX-listed gas processing company said in its fourth quarter 2023 financial results statement.
Additionally, $1.3 billion was allocated for contracts to expand the natural gas pipeline network as part of the ESTIDAMA programme, aimed at enabling the supply of higher volumes of natural gas to its customers in the Northern Emirates.
“In 2023, we made substantial investments to drive our growth strategy, awarding EPC contracts totalling $4.9 billion, paving the way for significant capacity expansion,” said CEO Ahmed Alebri.
Carbon capture facility
Last year, ADNOC Gas also awarded a $615 million contract for one of the MENA region’s largest integrated carbon capture projects, at the Habshan gas processing plant.
The project, which ADNOC Gas will operate on behalf of ADNOC, provides the capacity to capture and store 1.5 million tonnes of carbon dioxide per annum.
The project supports ADNOC Group’s target of delivering 25 percent emissions intensity reductions by 2030 and achieve Net-Zero by 2045.
Read more: NMDC bags three major contracts from ADNOC Group year-to-date
ADNOC Gas awards Petrofac contract for landmark carbon capture, utilisation and storage project
Abu Dhabi’s ADNOC Gas awards $3.6bln contract to boost infrastructure
ADNOC Gas posts 24% rise in Q4 2023 net profit, beats estimate
(Writing by Senthil Palanisamy; Editing by Anoop Menon)
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