Abu Dhabi National Oil Company (Adnoc) and Japan’s Cosmo Energy Holdings have agreed to work together to decarbonise oil and gas assets.

The emirati state-owned giant said in a social media post on Wednesday that the two companies will jointly look at “new opportunities for decarbonisation, including in carbon sequestration and technologies that reduce carbon emissions”.

Adnoc said the agreement has been signed with the company’s subsidiary Cosmo Energy Exploration & Production in “the form of a Memorandum of Understanding (MoU)” and supports the company’s ongoing commitment to decarbonisation.

Reducing the carbon intensity at its offshore operations is a key focus for Abu Dhabi as the emirate aims to increase its oil output capacity to 5 million barrels per day by 2030, from the current level of about 4 million bpd.

The company recently told Upstream that, as it unlocks its untapped resources and expands its production capacity, it will continue to drive down operational carbon intensity, targeting an additional 25% reduction by 2030.

source : https://www.upstreamonline.com/