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Mubadala Petroleum and Eni ink MoU

Published by , Senior Editor
Hydrocarbon Engineering,

Mubadala Petroleum and Eni have signed a Memorandum of Understanding (MoU) aimed at identifying cooperation opportunities in the energy transition sector, including the fields of hydrogen and carbon capture, utilisation and storage, that align with their respective decarbonisation targets.

The scope of the cooperation covers potential joint opportunities in the Middle East, North Africa, South East Asia and Europe, as well as other regions of mutual interest.

The partnership is in line with Mubadala Petroleum’s proactive approach to Environmental, Social & Governance (ESG) considerations, as well as its energy transition goals. This includes pursuing a gas-weighted portfolio strategy that has seen the company’s asset base reach almost two thirds natural gas, while reducing greenhouse gas emissions by 25% in the last three years.

The agreement was signed by Mubadala Petroleum’s CEO, Mansoor Mohamed Al Hamed, and Eni's COO of Natural Resources, Alessandro Puliti. The signing was witnessed by Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Co., and Claudio Descalzi, CEO of Eni.

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