Abu Dhabi National Oil Company and French oil major Total Energies have signed a strategic cooperation agreement to explore new growth opportunities across the energy value chain as they seek to strengthen their collaboration. The agreement was signed during President Sheikh Mohammed's state visit to Paris. Under the terms of the agreement, Adnoc and Total Energies will explore opportunities to collaborate on natural gas growth, carbon capture utilization and storage, and trade and product supply, a statement said.

Dr. Sultan Al Jaber, Minister and Managing Director of Industry and Advanced Technology and Group CEO of Adnoc, Total Energies is a long-term strategic partner and as the UAE and France strengthen energy cooperation, we are delighted to build our successful partnership. The agreement was signed in the presence of Sheikh Mohammed and French President Emmanuel Macron, while the UAE and France also agreed on a comprehensive strategic energy partnership. The partnership focuses on enhancing energy security, affordability and decarbonisation, as well as progressive climate action, ahead of Cop28, which is scheduled to take place in the UAE in 2023.

Adnoc is expanding operations with a goal of increasing oil production capacity to 5 million barrels per day by 2030 and making the country self-sufficient in natural gas. The UAE is OPEC's third-largest crude oil producer. The company plans to spend $127 billion in capital expenditures to strengthen its upstream capacity and downstream product portfolio, as well as its low-carbon fuels business and clean energy ambitions. It has signed deals with several major international energy companies to support its ambitions.

Adnoc signed new preliminary and joint research agreements with German counterparts to accelerate and deepen cooperation in the field of clean hydrogen. Adnoc, clean energy company Masdar and British energy multinational BP also signed a strategic cooperation agreement in May to develop clean hydrogen and take advantage of the opportunities offered by the energy transition. Total Energies is a long-term international partner of Adnoc and has been active in Abu Dhabi's oil and gas industry since 1939. Total Energies' equity production in the UAE will be 280,000 barrels of oil equivalent per day in 2021, the company said.

The two companies currently collaborate across the entire value chain, from offshore and onshore exploration, oil and gas development and production, to natural gas processing and liquefaction, product marketing, research and development, and national talent development. As part of the latest agreement, Total Energies will focus on developing oil and gas projects in the UAE, as well as supplying diesel from the UAE to France, Total Energies said in a statement. Keywords: engineering news, overseas news

Patrick Pouyanne, Chairman and CEO of Total Energies, said, “I am delighted that Total Energies has reaffirmed and expanded its strategic partnership with the UAE through a multi-energy partnership with our long-term partner in the UAE, Adnoc. Our partnerships across the entire energy value chain allow our two companies to join forces to contribute to energy supply in global markets while reducing carbon emissions from our operations.Editor/XingWentao