ADNOC Group and TAQA Group announced the successful financial closing of their $3.8 billion strategic project to power and significantly decarbonize ADNOC’s offshore production operations.
Together with a consortium comprised of Korea Electric Power Corporation (KEPCO), Kyushu Electric Power Company (Kyuden), and EDF, this is a first-of-its-kind high-voltage direct current (HVDC) sub-sea transmission network in the MENA region. The innovative project progressed rapidly from concept to development phase with construction starting in early 2022, underscoring both ADNOC and TAQA’s leading positions to drive climate action and support the ‘UAE Net-Zero by 2050 Strategic Initiative’.
The Consortium will build, own, operate and transfer the state-of-the-art transmission system alongside ADNOC and TAQA, with the full project being returned to ADNOC after 35 years of operation.
Source: ADNOC Group
Save the date for Shallow and Deepwater Mexico October 11-13, 2022 in Ciudad del Carmen, Campeche.
EPG Events, LLC