On 20 January, the Italian energy company Eni along with the international oil company ADNOC, shake their hands and inked a strategic framework agreement. Through their collaboration both companies will further explore new opportunities in carbon capture utilization and storage (CCUS).
In fact, both sides will boost their strategic opportunities in research and development in the oil and gas industry.
By bringing their power together, the two energy producers will enhance sustainability goals in order to reduce greenhouse gas emissions (GHG) by 25% until 2030, through ADNOC’s recently announced CCUS program.
Importantly, the agreement underscores ADNOC’s targeted approach to value-add partnerships that is enabling us to unlock and maximize 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.
…Dr. Sultan Ahmed Al Jaber.
The signing ceremony was presented by Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO and Claudio Descalzi, CEO of Eni.
Moreover, under the terms of their inked cooperation, ADNOC and Eni will advance innovative geomechanical and geochemical workflows for CCUS programs, such as advanced analysis and modeling of thermally induced fractures in oil and gas reservoirs.
Additionally, collaborators will focus on pursuing new mid-term solutions following Eni’s decarbonization strategy aimed to achieve net zero emissions in its upstream business by 2030 and ADNOC’s 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.
… Claudio Descalzi concluded.
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