Abu Dhabi National Oil Company (ADNOC) has taken the final investment decision (FID) on an offshore-come-onshore carbon capture and hydrogen project worth just under $17bn.
The Hail and Ghasha Offshore Development project will capture 1.5 million tonnes per year (mtpa) of CO2, taking ADNOC’s committed investment for carbon capture capacity to almost 4mtpa.
The CO2 will be captured, transported onshore and stored underground, while low-carbon hydrogen is produced to replace fuel gas and further reduce emissions. The project will also leverage clean power from nuclear and renewable sources from the grid.
The offshore EPC contract is valued at approximately $8.2bn (AED30bn) while the onshore EPC contract is valued at $8.74bn (AED32bn). The awards were signed at this week’s ADIPEC conference and exhibition in Abu Dhabi.
The Hail and Ghasha Offshore Development project is one of the largest carbon capture and hydrogen projects in the world. It is expected to start production in 2027.
The Hail and Ghasha Offshore Development project has the potential to make a significant impact on the global carbon capture and hydrogen industries. It is one of the largest projects of its kind in the world, and it is expected to start production in 2027.
The project is expected to reduce CO2 emissions from the oil and gas industry by 1.5 million tonnes per year. It will also produce low-carbon hydrogen, which can be used to reduce emissions in a variety of sectors, including transportation, power generation, and industry.
The project is also expected to create jobs and boost the local economy in Abu Dhabi.
The Hail and Ghasha Offshore Development project is a significant investment in carbon capture and hydrogen technology. The project has the potential to make a major impact on the global carbon capture and hydrogen industries, and it could also help to reduce emissions and boost the local economy in Abu Dhabi.
