Abu Dhabi National Oil Company (ADNOC) and TotalEnergies have signed a strategic partnership agreement to deepen their long-standing association and explore new opportunities for growth across the energy value chain
The agreement was signed in the presence of the UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the French President Emmanuel Macron, during the former’s state visit to France. It was signed by His Excellency Dr Sultan Ahmed Al Jaber, minister of industry and advanced technology and ADNOC managing director and group chief executive officer, and Patrick Pouyanné, chairman and chief executive officer of TotalEnergies.
Under the terms of the agreement, ADNOC and TotalEnergies will explore opportunities to collaborate in areas of mutual interest including in gas growth, carbon capture utilisation and storage (CCUS) and trading and product supply.
HE Dr Al Jaber said, “TotalEnergies is a longstanding strategic partner and we are very pleased to build on our successful partnerships through this agreement as the UAE and France strengthen energy cooperation. The agreement offers the potential to accelerate growth and create greater sustainable value for our mutual benefit. We look forward to working with TotalEnergies to unlock the opportunities presented by the agreement across the energy value chain to enable more secure, affordable and sustainable energy for our countries and the world.”
TotalEnergies is a significant international partner for ADNOC and has been active in Abu Dhabi’s oil and gas sector since 1939.
Pouyanné said, “I am pleased that TotalEnergies is reaffirming and expanding its strategic collaboration with the United Arab Emirates through a multi-energy cooperation with ADNOC, our long-standing partner in the UAE. 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 reducing carbon emissions from our operations.”
This strategic partnership agreement follows the signing of the UAE-France Comprehensive Strategic Energy Partnership (CSEP) which is focused on enhancing energy security, energy affordability and decarbonisation, as well as progressive climate action ahead of COP28 (28th Session of the Conference of the Parties), which will take place in the UAE in 2023.
TotalEnergies currently collaborates with ADNOC across the full value chain, from offshore and onshore exploration, development and production of oil and gas, to gas processing and liquefaction, product marketing, research and development (R&D), and national talent development.