Adnoc and Santos link up to work on net zero goals

Reuters

Abu Dhabi oil major Adnoc and Australia’s Santos have signed an agreement to develop a joint global carbon management platform aimed at decarbonising markets in the Asia-Pacific region.

The companies will also work together on carbon capture and storage (CCS) technologies. 

In addition, Adnoc and Santos will jointly explore the development of a carbon dioxide shipping and transportation infrastructure network to enable heavy-emitting sectors to capture, ship and permanently store carbon dioxide.

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Musabbeh Al Kaabi, executive director, low carbon solutions and international growth, at Adnoc, said the companies would scale up the carbon management technologies of the future.

Adnoc currently operates the Al Reyadah facility, which can process 800,000 tonnes of carbon dioxide annually. 

The company recently announced one of the largest carbon capture projects in the Middle East and North Africa region at the Habshan facilities and a carbon capture project at its Hail and Ghasha offshore development, taking its committed investment for carbon capture capacity to 4 mtpa.

The state-owned oil giant is targeting a carbon capture capacity of 10 mtpa by 2030, equivalent to taking over 2 million internal combustion engines off the road.

The announcement comes ahead of the UAE’s hosting of the Cop28 climate change conference at Expo City in Dubai from November 30 through to December 12.