ADNOC, Eni sign MoU on carbon capture utilisation and R&D
ADNOC’s commercial scale facility for carbon capture utilisation and storage was set-up in 2016
ADNOC has announced that it has signed a strategic framework agreement with Italy’s energy firm, Eni, to explore new opportunities for collaboration in carbon capture utilisation and storage (CCUS) and additional strategic opportunities in R&D across the oil and gas value chain.
The framework agreement was signed by Dr Sultan bin Ahmad Sultan Al Jaber, minister of state and ADNOC group CEO, and Claudio Descalzi, CEO of Eni. The agreement also builds on ADNOC’s recently announced sustainability goals, particularly its commitment to decrease its greenhouse gas intensity by 25 per cent by 2030, enabled by the CCUS programme.
According to the terms of the agreement, ADNOC and Eni will jointly explore opportunities for collaboration in relation to innovative geomechanical and geochemical workflows for CCUS programmes as well as in advanced analysis and modelling of thermally induced fractures in oil and gas reservoirs.
Commenting on the partnership, Descalzi said that the MoU demonstrates Eni’s commitment to strengthening their relationship with ADNOC, and generating positive impact across the value chain.
He added that both companies will collaborate to pursue new mid-term solutions aimed at leading the current energy transition in line with Eni’s decarbonisation strategy targeted at achieving net-zero emissions in its upstream business by 2030.
“This is a holistic collaboration that will further strengthen the alliance between the two companies by designing technological trajectories for the evolution and transformation of the upstream and downstream businesses,” Descalzi said.
Dr Al Jaber commented: “The agreement underscores ADNOC’s targeted approach to value-add partnerships that is enabling us to unlock and maximise value from Abu Dhabi’s substantial hydrocarbon resources as we deliver our 2030 smart growth strategy.”
“We look forward to swiftly developing this framework agreement to another new mutually beneficial partnership with Eni as the agreement offers significant potential for exciting and sustainable growth opportunities,” he added.
The two partners also agreed to assess additional strategic opportunities for collaboration in R&D that can potentially optimise performance, drive efficiencies and unlock greater value for both companies. The firms’ potential for collaboration in R&D also aligns with ADNOC’s strategy to drive innovation and seek new advanced technologies to enable it to maximise its value.
