French TotalEnergies expands oil and gas alliance with ADNOC

French energy giant TotalEnergies has partnered with Abu Dhabi National Oil Company (ADNOC) to explore growth opportunities across the entire energy value chain in the UAE.

In accordance with the strategic agreement, the two companies will jointly explore and collaborate in areas such as the development of oil and gas projects in the United Arab Emirates to ensure global energy security.

The collaboration will also focus on the supply of diesel to France from the United Arab Emirates and a commercial Carbon Capture, Utilization and Storage (CCUS) project in the Middle Eastern country.

UAE Minister of Industry and Advanced Technologies and Managing Director and CEO of ADNOC Group, Dr. Sultan Ahmed Al Jaber said: “We look forward to working with TotalEnergies to unlock the opportunities presented by the agreement. across the entire energy value chain to enable more secure, affordable, and sustainable energy solutions for our countries and the world.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, said: “Our partnership across the entire energy value chain allows our two companies to join forces to contribute to the energy supply of global markets while by reducing the carbon emissions of our operations.

The deal expands the strategic alliance between the two companies and comes amid growing concerns over global energy security following Western sanctions against Russia in response to its offensive in Ukraine.

The partnership agreement also follows the signing of the Comprehensive Strategic Energy Partnership (CSEP) between the UAE and France by the two countries, which aims to improve energy accessibility, energy security and decarbonization.

Last year, TotalEnergies’ equity production in the UAE was 280,000 barrels of oil equivalent per day.

In a separate announcement, another French company, Technip Energies, and National Petroleum Construction (NPCC) of the UAE, a subsidiary of National Marine Dredging Company (the Group), have agreed to form the joint venture NT Energies LLC to support the transition energy.

The Abu Dhabi-based company will provide offshore and onshore oil and gas field and facility services, oil and gas facility consultancy, oil tank installation and repair, installation, maintenance and alternative energy equipment manufacturing, and alternative energy engineering consultations and research.

It will also provide services related to blue and green hydrogen and associated decarbonization projects, and CO₂ capture, among others, to support the energy transition in the country, the broader Middle East region and North Africa. North.

Earlier this month, TotalEnergies announced its intention to withdraw from the Kharyaga oil project in Russia.

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