ALBAWABA – The United Arab Emirates (UAE) is on the verge of yet another expansion in Abu Dhabi National Oil Company’s (ADNOC) oil and gas capabilities, as UAE’s ADNOC awards new contract to build its gas processing infrastructure on Wednesday.
ADNOC’s subsidiary, ADNOC Gas, awarded the $3.6 billion contract to a joint venture, between UAE's National Petroleum Construction Company (NPCC) and Spain’s Tecnicas Reunidas, according to official statements.
The contract also includes commissioning new processing facilities, according to Agence France-Presse (AFP).
"The scope of the contract includes the commissioning of new gas processing facilities which will enable an optimised supply to the Ruwais Industrial Complex" in the western Al Dhafra region, the statement said.
The contract coincides with a larger plan "to enable increased gas recovery from existing fields and develop untapped resources", according to the statement.
ADNOC, the UAE's key revenue-earner, retains a 90 percent stake in ADNOC Gas, which is estimated to have the seventh largest gas reserves globally.
Last month, the energy giant said it had accelerated its emission reduction goal to achieve carbon neutrality by 2045 instead of 2050.
The UAE said it intends to "increase its investments and redouble efforts in decarbonisation," relying on an initial financing of $15 billion for "low-carbon solutions" to achieve zero methane emissions by 2030.
The Emirates is one of the world's leading oil exporters and is set to host the United Nations climate summit in November and December.
