The Abu Dhabi National Oil Company (ADNOC) is a pivotal contributor to achieving a realistic and practical transition in the energy sector and to the leadership of international companies by employing modern technologies in the oil and gas sector to reduce its emissions in support of climate action efforts. During its participation in the Abu Dhabi International Petroleum Exhibition and Conference “ADIPEC 2022”, which concluded yesterday, ADNOC succeeded in concluding a number of agreements and announced several strategic initiatives. The most important event in the energy sector witnessed the announcement by ADNOC of a new target to reduce methane emissions from its exploration, development and production operations to 0.15% by 2025. This target represents the lowest level of emissions intensity in the Middle East, consolidating the UAE’s leading position as a responsible producer. Environmentally low emission energy. Before the launch of ADIPEC 2022, ADNOC hosted the eighth edition of the Abu Dhabi CEO Forum, which was organized at the ADNOC Business Center and was attended by 35 of the most prominent leaders of the global energy sector to discuss ways to enhance energy security, provide reliable supplies for all, and achieve progress in work climatic. ADNOC also announced during the event the signing of an agreement to explore opportunities for cooperation in the supply of liquefied natural gas and the reduction of emissions with the Indian company “Gile”. The agreement includes a number of short and long-term LNG sales agreements, studying the possibility of improving and developing LNG trading and trading opportunities, exploring joint investment opportunities in shares and stocks of renewable energy sources, and monitoring greenhouse gases for LNG shipments, to support its low-carbon supplies. On the second day of ADIPEC, ADNOC announced the award of three contracts under framework agreements for integrated drilling services worth 14.68 billion dirhams to provide drilling wells and related services. These contracts, which were awarded to ADNOC Drilling, Schlumberger and Halliburton, are the largest of their kind in the field of drilling and services. ADNOC Drilling will receive the largest contract in terms of scope of business framework agreements, which reflects the growth and expansion of the company’s business portfolio. These contracts support ADNOC’s ongoing efforts to expand its production capabilities from low-emission energy sources in its quest to meet the growing global demand for energy. More than 80% of the contract value will be redirected to the local economy through ADNOC’s ICV program. On the third day of ADIPEC, ADNOC and Siemens Energy announced plans to launch a pilot project based on blockchain technology, aiming to certify a range of energy products according to carbon intensity levels. The pilot project uses smart sensors to collect data from all locations of ADNOC’s chain of operations, from the oil well to the customer, that accurately shows the amount of carbon dioxide used to make products such as Murban crude, ammonia and jet fuel. The readings will then be automatically recorded in a central registry that uses blockchain technology. This transparency in emissions levels will enable independent regulators to certify the carbon intensity of products, enhance customer confidence and provide clearer information on the carbon footprint of their purchases. On the third day of ADIPEC, Borouge, a joint venture between ADNOC and Borealis, and ADNOC Logistics and Services, announced the launch of the Borouge Global Gateway in Khalifa Port. The new facility will be owned and managed by ADNOC Logistics and Services to facilitate the export of Borouge’s polymer solutions made in the UAE to international markets. Borouge’s global operations are concentrated in a huge warehouse, which is the largest in the Middle East. This facility plays a vital role in enabling Borouge to improve its operational efficiencies by centralizing and integrating its logistics operations. The new warehouse is part of the agreement signed between Borouge and ADNOC Logistics and Services, which extends for 25 years and includes all transportation and handling of Borouge’s polymer products in Khalifa Port and their processing for export. During the fourth and final day of ADIPEC 2022, “ADNOC Refining announced the joint venture between ADNOC, Eni and OMV, signing a strategic agreement with the Abu Dhabi-based Investment Holding Company and Veolia.” Middle East, and Global Vision Investment Company, to acquire waste management operations in the Ruwais Industrial City. According to the agreement, a consortium of the three companies will own and operate two world-class sustainable waste management plants to treat and dispose of industrial waste resulting from the operations of the ADNOC group of companies. This agreement supports ADNOC’s role as a catalyst for economic growth and industrial diversification in the UAE by attracting more international investments and strategic partnerships to Ruwais. This strategic partnership also allows ADNOC Refining to focus on core refining operations, which contributes to enhancing its competitiveness. ADNOC also announced, during the Sixth Annual ADNOC Business Partners Forum, which was held on the sidelines of ADIPEC 2022, that it had signed agreements with 25 companies with a potential value of 35 billion dirhams to stimulate investment in the local manufacturing of basic products in order to support industrial diversification and infrastructure. industry in the UAE. The agreements confirm the suppliers’ intention to manufacture 21 products in the UAE, which supports the implementation of ADNOC’s 2030 smart growth strategy, and its quest to consolidate its position among the lowest cost and carbon-intensive energy producers. Among the leading companies that have signed agreements with ADNOC are: Siemens, Halliburton, Celerus FT, Emerson, Proton R&D and Schneider Electric. The last day of ADIPEC 2022 also witnessed the announcement of ADNOC and ADQ Holding, the two partners that own the majority stake in “Tazez”, the launch of a new phase of growth and expansion in the “Tazez” industrial chemicals area, in the Ruwais Industrial City. Which will see the number of chemicals produced in it more than double. This phase includes the development of a new, world-class, low-emission steam cracker facility that will produce feedstock for chemical production units associated with the refining sector for the first time in the UAE. The project is currently in the feasibility study phase, where the design phase is scheduled to start in the first quarter of 2023. During ADIPEC 2022, a new strategic agreement was concluded in conjunction with the progress of construction operations in the first phase of the “Taziz” industrial chemicals area as per the specified schedule. The agreement aims to move forward in developing world-class facilities for the production of “ethylene dichloride” (EDC) and “polyvinyl chloride” (PVC). As the site preparation work progresses at Tazeez, final investment decisions on Phase One projects are expected to be made before the end of the year.
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