Eni and Mubadala Petroleum agreed to cooperate on energy transition initiatives

Abu Dhabi, September 8 - Neftegaz.RU. Italy’s Eni and the UAE´s Mubadala Petroleum signed a MoU to identify opportunities for cooperation in the energy transition, including hydrogen and carbon capture.

As a result of the MoU, the companies will consider potential opportunities in the Middle East, North Africa, South East Asia and Europe.

The agreement was signed by Mubadala Petroleum’s CEO, Mansoor Mohamed Al Hamed, and Eni's COO of Natural Resources, Alessandro Puliti.
The signing was witnessed by Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment, and Claudio Descalzi, CEO of Eni.

Eni said this agreement would play a part in its commitment to carbon neutrality by 2050.
The company´s 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

Mubadala cut its greenhouse gas emissions by 25% over the last 3 years.
It has said its efforts to cut these emissions will intensify in the years to come.

Mansoor Mohamed Al Hamed, Mubadala Petroleum CEO, commented:

• 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 decarbonization and support the industry’s evolution