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Mubadala Petroleum Corporation and Eni, a comprehensive international energy company, signed a Memorandum of Understanding (MoU) to identify cooperation opportunities in the energy transition field, including hydrogen and carbon capture, utilization and storage, and their respective decarbonization Consistent goals. The scope of cooperation covers potential cooperation opportunities in the Middle East, North Africa, Southeast Asia, Europe and other regions of common interest.
The partnership is in line with Mubadala Petroleum’s positive attitude towards environmental, social and governance (ESG) considerations and its energy transition goals. This includes the implementation of a natural gas-weighted portfolio strategy, which brings the company’s asset base close to two-thirds of natural gas, while reducing greenhouse gas emissions by 25% in the past three years.
The agreement was signed by Mubadala Oil Company Chief Executive Mansour Mohamed Al Hamid and Eni Natural Resources Chief Operating Officer Alessandro Plitti. Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company, and Claudio Descalzi, CEO of Eni Group, witnessed the signing.
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