Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi’s National Energy Company (Taqa) reached financial close on their USD 2.2 bn seawater treatment and sustainable water supply project for Adnoc’s onshore operations, according to a company statement. The project will be financed by a consortium of nine local and international banks — First Abu Dhabi Bank (FAB), Gulf International Bank (GIB), Natixis, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Commercial Bank of Dubai (CBD), Emirates NBD (ENBD), Emirates Development Bank (EDB), and Warba Bank — through a combination of commercial and Islamic finance facilities, the statement said.

Refresher: A consortium comprised of Orascom and Metito will construct a large-scale greenfield development including a seawater nanofiltration plant with a treatment capacity of over 110 mn imperial gallons per day (c.500k cbm / day) to serve Adnoc’s onshore operations. It will also include seawater intake and outfall facilities, pumping stations, a 75-km water transmission pipeline, and an in-field distribution network of over 230 km to support reservoir pressure maintenance in the Bab and Bu Hasa oil fields in Abu Dhabi. The project is set to replace the aquifer water injection systems currently used by Adnoc in its onshore oil fields, allowing a sustainable water supply for the state oil giant’s onshore operations and preserving the country’s natural aquifer resources. It will also boost energy efficiency by up to 30% and slash Adnoc’s environmental footprint in comparison with the currently used injection system.

Adnoc has made headway in slashing CO2 emissions: Earlier this year, Adnoc said it would allocate USD 15 bn to decarbonization projects by 2030. The projects include investments in clean power, carbon capture and storage, electrification, and energy efficiency. The company set up a new division late last year focused on low-carbon solutions and international growth. It also reached financial close with Taqa last September on a USD 3.8 bn project to build a subsea transmission network designed to reduce emissions at offshore production facilities by providing them with mainland power.