ADNOC Gas has awarded Petrofac a contract for engineering and construction of one of the region’s largest carbon capture, utilisation and storage (CCUS) schemes.
“This landmark project, is one of many tangible initiatives that Adnoc is delivering as we accelerate our decarbonisation plan to meet our Net Zero by 2045 ambition.”
The offer runs until March 1. It covers around 4% of the shares in the company. It will raise $1.9 to 2 billion. The price values Adnoc Gas at $47 to 50.8bn.
The company aims to capture 5 million tonnes per year of CO2 by 2030, it has said. Adnoc’s Al Reyadah facility captures 800,000 tpy currently. The next major investment will come at the Habshan gas processing facility, using local geology.
