French oil major Total and Abu Dhabi's oil firm ADNOC have signed agreements to jointly work on opportunities in the areas of CO2 emission reductions and carbon capture, utilization, and storage (CCUS).
"The agreement brings together the best-in-class in low carbon technologies from ADNOC and Total, and expands on the long-standing partnership and collaboration between the two leading energy producers across the full value chain," Total said in a statement.
The agreement was signed by Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, and Patrick Pouyanné, Chairman & CEO of Total during a meeting in Abu Dhabi.
“We are pleased to strengthen our partnership and alliance with Total as we work towards a low carbon future. The agreement builds on our sustainability goal to decrease greenhouse gas (GHG) intensity by 25% by 2030 and reinforces ADNOC’s commitment to responsible oil and gas production as we deliver on our 2030 smart growth strategy.
"We look forward to leveraging this expertise and collaborating with Total to further research and develop low carbon technologies and sustainable growth opportunities,” said Sultan Ahmed Al Jaber, ADNOC Chief Executive Officer.
Under the terms of the agreement, ADNOC and Total will jointly explore opportunities to reduce CO2 emissions, improve energy efficiency and the use of renewable energy for oil and gas operations. In the area of CCUS, the companies have committed to further developing joint research into new technologies covering carbon capture, storage solutions, and enhanced oil recovery projects based on CO2 usage.
“We are very pleased to start this new cooperation with ADNOC, our long-term partner in the United Arab Emirates. This initiative will allow the two companies to join forces in several domains such as the reduction of carbon emissions on industrial sites, improvement of the energy efficiency in operations, and the development of innovative solutions and business models towards the CCUS chain. This is a perfect example of Total’s commitment to leverage its global presence and expertise to act towards its 2050 net-zero ambition alongside its long-standing key partners,” said Patrick Pouyanné, Chairman & CEO of Total.