In order to accelerate the existing development project and time-to-market of new exploratory technologies, Abu Dhabi National Oil Company (ADNOC) Managing Director and Group CEO Sultan Ahmed El Jaber and Eni CEO Claudio Descalzi met in Abu Dhabi to discuss the company’s activities in the Emirate of Abu Dhabi, future projects, and areas of common interest and collaboration.
Descalzi and Al Jaber, also the UAE’s Minister of Industry and Advanced Technology, talked about advancing the high-profile Ghasha project. The project is anticipated to provide more than 1.5 billion cubic feet of gas per day, as well as more than 120,000 barrels of highly valuable oil and condensate, and it is projected to contain a considerable amount of recoverable gas.
Descalzi also provided fast-track development alternatives for the recent major gas discovery in its first exploration well drilled in Offshore Block 2 Abu Dhabi, utilizing existing ADNOC facilities and other ongoing projects in order to save costs and hit shared production goals more quickly. Block 2’s Operator is Eni, which owns a 70% share in it. PTTEP retains the remaining 30%.
Al Jaber and Descalzi also examined a number of projects aimed at bolstering the partnership in the context of the energy transition by implementing renewable energy projects and other initiatives to reduce carbon intensity, with a focus on the creation of a carbon capture usage and storage (CCUS) project, to offset carbon emissions and deliver significant environmental, social, and economic benefit to involved stakeholders.