Mubadala Petroleum has signed a MoU with Italian oil and gas major Eni to identify cooperation opportunities in the energy transition sector, including the fields of hydrogen and carbon capture, utilisation and storage that align with their respective decarbonisation targets
The scope of the cooperation covers potential joint opportunities in the Middle East, North Africa, southeast Asia and Europe and other regions of mutual interest.
The partnership is in line with Mubadala Petroleum’s proactive approach to environmental, social and governance (ESG) considerations and its energy transition goals.
This includes pursuing a gas-weighted portfolio strategy that has seen the company’s asset base reach almost two thirds natural gas, while reducing green house gas emissions by 25% in the last three years.
The agreement was signed by Mubadala Petroleum’s CEO, Mansoor Mohamed Al Hamed and Eni's chief operating officer of natural resources Alessandro Puliti.
The signing was witnessed by Khaldoon Khalifa Al Mubarak, managing director and Group CEO of Mubadala Investment Company and Claudio Descalzi, CEO of Eni.
