Dr Sultan Al Jaber and Patrick Pouyanne signed the agreement during a virtual meeting.
Business Bureau, Gulf Today
The Abu Dhabi National Oil Company (Adnoc), signed a strategic framework agreement with Total, to explore joint research, development and deployment partnership opportunities in the areas of CO2 emission reductions and carbon capture, utilisation 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.
The agreement was signed by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Group CEO, and Patrick Pouyanné, Chief Executive Officer of Total.
Dr Al Jaber said: “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 per cent 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.”
Under the terms of the agreement, Adnoc and Total will jointly explore opportunities to reduce CO2 emissions, improve energy efficiency and use renewable energy for oil and gas operations. In the area of CCUS, the companies will further develop joint research into new technologies covering carbon capture, storage solutions and enhanced oil recovery projects based on CO2 usage.
Patrick Pouyanné, Chairman & CEO of Total, said: “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.”
The potential for collaboration in CCUS by Adnoc and Total complements Adnoc’s CCUS programme which has seen the company establish the Al Reyadah facility, the first commercial-scale CCUS facility in the Middle East. Currently, the facility has the capacity to capture 800,000 tonnes of CO2 annually. Adnoc plans to expand the capacity of this programme six-fold by capturing CO2 from its own gas plants, with the aim of reaching 5 million tonnes of CO2 every year by 2030 - the equivalent of the annual carbon capture capacity of over 5 million acres of forest.
Total currently collaborates with Adnoc across the full value chain, from offshore and onshore exploration, development and production of oil and gas, to gas processing and liquefaction, product marketing, research and development (R&D), and National Talent development.
Adnoc LNG has recently signed up to a six-year supply agreement with Vitol, the world’s largest independent energy trader, for the sale of 1.8 million tons per annum (mtpa) of post-2022 LNG volumes and a two-year supply agreement with Total for 0.75 mtpa of 2021 and 2022 LNG volumes.
These new agreements represent a continuation of the trusted relationship Adnoc has built with Vitol and Total, including, most recently, Adnoc and Vitol’s 2019 investment partnership in global storage terminal owner and operator VTTI. In the same vein, Total has operated in the United Arab Emirates for more than 80 years and remains one of Adnoc’s most long-standing international partners, with a number of ownership interests across the Group.
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