Mubadala Petroleum and Eni signed a Memorandum of Understanding (MoU) aimed at identifying cooperation opportunities in the energy transition sector.
These include cooperation in the hydrogen and carbon capture sectors, utilisation as well as in storage facilities.
The scope of the cooperation covers potential joint opportunities in the Middle East, North Africa, South East Asia, Europe and other regions of mutual interest.
This agreement marks a further tangible step in line with Eni's commitment towards carbon neutrality by 2050, promoting cooperation between different players in the sector and consolidating alliances for sustainable development aimed at tackling the energy transition challenges together.
Eni CEO Claudio Descalzi said: “The agreement signed with Mubadala Petroleum, represents another step towards a low carbon emission future. Eni will leverage all its proprietary technologies, focused on energy transition. We will work with a strategic partner like Mubadala Petroleum to find ways of reaching common decarbonization targets worldwide.”
Mansoor Mohamed Al Hamed, Mubadala Petroleum CEO, added: “We are committed to playing our part in the energy transition. This includes pursuing a gas-weighted portfolio as a key bridge to renewables. It also includes investing in innovation and technology to advance decarbonisation and support the industry’s evolution. Working with partners to build on the progress we have already made is vital and we look forward to advancing this collaboration.”
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