His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Abu Dhabi National Oil Company (ADNOC) Group CEO, and Eni’s Chief Executive Officer, Claudio Descalzi, signed a Memorandum of Understanding 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 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 to be further investigated based on 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.