Eni and ADNOC sign Memorandum of Understanding regarding sustainable energy for the future
Published by Jessica Casey,
Editor
Hydrocarbon Engineering,
Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and Eni’s Chief Executive Officer, Claudio Descalzi, have recently signed a MoU for the joint development of research initiatives aimed at creating advanced technological solutions for the reduction, capture, usage or confinement (CCUS) of CO2 emissions at fields.
The agreement will also explore processes and technologies related to the business that are aimed at promoting the circular economy.
This is a high potential agreement, in which two initiatives have already been identified to improve the CO2 usage. The CO2 will be used to improve the hydrocarbon recovery factor and will be permanently stored.
With this MoU, Eni and ADNOC will be able to extend their collaboration in research areas of common interest, which can then be further investigated based on the companies’ core strategy and long-term engagement in targeting a low carbon future.
Furthermore, the parties will have the possibility of looking at new high efficiency technologies for CO2 capture with consequent decarbonisation effects on the hydrocarbon chain and also on relevant industrial activities.
Dr Al Jaber said: “We are pleased to sign this strategic framework agreement with Eni that builds on the company’s successful partnerships across the oil and gas value chain. Importantly, the agreement underscores ADNOC’s targeted approach to value-add partnerships that enables the company to unlock and maximise value from Abu Dhabi’s substantial hydrocarbon resources as the 2030 smart growth strategy is delivered. ADNOC looks 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.”
Descalzi commented: “This MoU further demonstrates Eni’s strong commitment to strengthening its important partnership with ADNOC, and generating positive impact across our value chain. Both companies will collaborate to pursue new mid-term solutions aimed at leading the current energy transition in line with Eni’s decarbonisation strategy, intended to achieve net zero emissions in its upstream business by 2030, and ADNOC’s recently announced sustainability goals. 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.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/20012020/eni-and-adnoc-sign-memorandum-of-understanding-regarding-sustainable-energy-for-the-future/
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