TotalEnergies, ADNOC expand strategic partnership

TotalEnergies, ADNOC expand strategic partnership

On the occasion of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates’ state visit to Paris, TotalEnergies and Abu Dhabi National Oil Company (ADNOC) signed a strategic partnership agreement aimed at jointly evaluating new growth opportunities in the development of oil and gas projects in the UAE to ensure sustainable energy supply to markets and contribute to global energy security; supply of diesel from the UAE to  focus on  sustainable global energy security and market supply; supply of diesel from the UAE to France; and prospects for a commercial carbon capture, utilisation, and storage (CCUS) project in the UAE.

The partnership across the entire energy value chain allows the two companies to join forces to contribute to the energy supply of global markets, while reducing carbon emissions from our operations, commented Patrick Pouyanné, Chairman and CEO of TotalEnergies,

The agreement offers the potential to accelerate growth and create greater and more sustainable value for our mutual benefit, as well as 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, commented His Excellency. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO.

TotalEnergies has been operating in the UAE for over 80 years and is now the country’s first foreign corporation, with all of its businesses present. TotalEnergies’ equity output in 2021 will be 280,000 barrels of oil equivalent per day (boe/d).

In partnership with ADNOC, TotalEnergies holds the following interests: 10% in the ADNOC Onshore oil concession; 20 % in the offshore Umm Shaif & Nasr oil concession and 5% in the offshore oil Lower Zakum concession; 15% in ADNOC Gas Processing (former GASCO); 5% in ADNOC LNG (former ADGAS); 5% in the National Gas Shipping Company (NGSCO); and 40% in the Ruwais Diyab unconventional gas concession.

In partnership with Mubadala, TotalEnergies holds a 24.5% stake in Dolphin Energy, the first gas marketing project between Qatar, UAE, and Oman (2007).

TotalEnergies has been involved in the country’s power generation since 2001 through the Taweelah desalination plant and power station, which, in collaboration with TAQA, meets approximately 10% of Abu Dhabi’s water and electricity needs. TotalEnergies (20%) is a partner with Masdar and ADPF in the UAE’s first Concentrated Solar Power facility, which was opened in 2013 and has a capacity of 109 MW. The Company continues to expand in the country’s solar sector, particularly in the field of distributed generation, where it is a market leader. The company is also a global major producer and supplier of a wide range of automotive and industrial lubricants, with a blending plant in the UAE that serves the entire region.