FINANCIAL NEWS

ADNOC, Masdar award Dodsal USD122 m for facility building

11 Nov 2013

(MENAFN) Abu Dhabi National Oil Company (ADNOC) has signed a joint venture agreement with Masdar to establish a company that manages commercial-scale projects for carbon capture, usage and storage (CCUS), according to Arab News.

The two companies have allocated USD122.48 million for the engineering, procurement and construction (EPC) contract that allows Dodsal Group to build a carbon dioxide (CO2) compression facility and a 50-kilometer pipeline.

CCUS’ first project will include three core components, and will be located at Abu Dhabi.

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