Abu Dhabi National Oil Co. (ADNOC) signed an agreement with Australia-based Santos Ltd. for the potential development of a joint carbon management platform that could support decarbonization throughout Asia-Pacific, ADNOC said in a release Nov. 21.
The strategic collaboration agreement (SCA) also provides for the companies to work together to advance carbon capture and storage (CCS) technologies and to explore development of a carbon dioxide (CO2) shipping and transportation infrastructure network.
In January, ADNOC committed $15 billion to advance low-carbon solutions, new energies, and decarbonization efforts across its value chain. The operator aims to become net zero by 2045 and is targeting CCS capacity of 10 million tonnes/year (tpy) by 2030.
ADNOC currently operates the Al Reyadah plant, which has the capacity to process 800,000 tpy of CO2. The operator also recently announced one of the largest carbon capture projects in the Middle East and North Africa region at the Habshan complex, and a carbon capture project at its Hail and Ghasha offshore development, taking its committed investment for carbon capture capacity to almost 4 million tpy (OGJ Online, Sept. 6, 2023; Dec. 8, 2021).
The agreement with Santos follows ADNOC’s recent agreements to explore CCS and direct air capture (DAC) projects in the UAE (OGJ Online, Aug. 1, 2023; Oct. 3, 2023).