Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC) have launched a $3.6 billion project to decarbonise ADNOC’s offshore production operations.

As part of the project, MENA's first-of-its-kind high voltage and direct current subsea transmission system will be developed and operated to power ADNOC’s offshore production operations, according to a press release on Wednesday.

This power will be provided through the Abu Dhabi onshore power grid, owned and operated by TAQA’s transmission and distribution companies.

Subject to regulatory approvals, the project will be funded through a special purpose vehicle (SPV), a dedicated company that will be jointly owned by TAQA and ADNOC with each of them owning a 30% stake, alongside a consortium.

To own a combined 40% stake in the project, the consortium comprises Korea Electric Power Corporation (KEPCO), Japan’s Kyushu Electric Power Co., and Électricité de France (EDF).

Expected to cut the carbon footprint of ADNOC’s offshore operations by over 30%, the full project will return to ADNOC following a 35-year operation.

The ADNOC Upstream Executive Director, Yaser Saeed Almazrouei, said: "As ADNOC embraces the energy transition, this bold and progressive project will replace our existing offshore local power supply with cleaner and more sustainable onshore power sources, significantly reducing our carbon footprint while enabling additional cost savings."

Meanwhile, TAQA’s Group CEO and Managing Director, Jasim Husain Thabet, commented: "This first-of-its-kind project shows how the UAE continues to demonstrate its strong leadership and innovation in the global energy transition by bringing together critical players to boost sustainability credentials and maximizing the utilization of Abu Dhabi’s diverse and efficient energy mix."