Carbon capture and storage

Eni, ADNOC Sign Carbon Capture Agreement

The companies will focus on research and development to reduce CO2 emissions and promote the circular economy.

Industrial activity in Abu Dhabi

Eni and Abu Dhabi National Oil Company (ADNOC) have signed a memorandum of understanding for the joint development of research initiatives aimed at creating advanced technology solutions for the reduction, capture, usage, or confinement (CCUS) of CO2 emissions. The agreement will cover the five offshore projects in Abu Dhabi in which Eni is an equity participant.

The agreement also will explore processes and technologies to promote the “circular economy”—the regenerative economic approach that is aimed at eliminating waste and continually using and reusing resources—over the traditional linear approach. The CO2 will be used to improve the hydrocarbon recovery factor and will be permanently stored.

“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,” UAE Minister of State and ADNOC Group CEO Sultan al-Jaber said in a statement.

ADNOC has pledged to cut its greenhouse gas emissions 25% by 2030 and to boost CO2 storage to bolster its environmental, social, and governance performance. The company also plans to boost its capacity to capture CO2 from its own gas plants to 5 MMtpa by 2030, from its current capacity of 800,000 tons/year.

“Both companies will collaborate to pursue new mid-term solutions aimed at leading the current energy transition in line with Eni’s decarbonization strategy aimed to achieve net-zero emissions in its upstream business by 2030,” Eni CEO Claudio Descalzi said in the statement.

Eni has been operating in Abu Dhabi since 2018, and is also a shareholder with a 20% equity interest in ADNOC Refining.