Total and Adnoc have signed a strategic framework agreement on CO2 reductions and carbon capture, utilisation and storage (CCUS).
The two companies said they would work on reducing emissions, improve energy efficiency and use renewable energy in oil and gas operations. The CCUS work will focus on joint research around storage and enhanced oil recovery (EOR). The companies announced the agreement on the last day of the Adipec conference.
“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,” said Adnoc’s CEO Sultan Ahmed Al Jaber.
“We look forward to leveraging this expertise and collaborating with Total to further research and develop low carbon technologies and sustainable growth opportunities.”
Total’s CEO Patrick Pouyanné said the initiative would “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”.
Ambitions
This is a “perfect example” of Total’s focus on its 2050 net zero ambition, he said.
The French company has described CCUS as one of its strategic priorities. It spends 10% of its research and development budget on this. Total is working on a CCUS plan in the US and the 1.5mn tpy Northern Lights facility in Norway.
Adnoc launched its Al Reyadah facility in 2016. This CCUS facility can capture 800,000 tonnes per year of CO2. The company intends to increase this six fold, to store 5mn tpy of CO2 by 2030.
