The Emirati oil and gas company ADNOC has taken a final investment decision (FID) on its Hail and Ghasha offshore gas development project located off the coast of the Abu Dhabi Emirate, in southern United Arab Emirates. The Hail and Ghasha project is part of Abu Dhabi’s Ghasha Concession, which is set to produce more than 1.5 bcfd (15.5 bcm/year) of natural gas before 2030. The development will also feature a 1.5 MtCO2/year carbon capture utilisation and storage (CCUS) system, as the project aims to operate with net zero CO2 emissions.
In addition, ADNOC has announced that it awarded contracts worth US$17bn for the project. The Italian engineering group MAIRE and energy services group Saipem have thus been awarded US$8.7bn and US$4.1bn in contracts by the Emirati company respectively for the project. Another US$8.2bn contract was awarded to a joint venture between Saipem and National Petroleum Construction Company (NPCC), owned by the Abu Dhabi wealth fund ADQ.