Mubadala Petroleum has signed a Memorandum of understanding (MoU) with Eni company to find cooperation opportunities in the energy transition including the fields of hydrogen and carbon capture, utilization and storage, a press release issued by Eni stated.

The agreement covers possible joint opportunities in the Middle East, North Africa, South East Asia, Europe and other regions of mutual interest.

On this occasion, Eni CEO Claudio Descalzi, said “the agreement signed with Mubadala Petroleum, represents another step towards a low carbon emission future. Eni will leverage all its proprietary technologies, focused on energy transition. We will work with a strategic partner like Mubadala Petroleum to find ways of reaching common decarbonization targets worldwide.”

For his part, Mansoor Mohamed Al Hamed, Mubadala Petroleum CEO, commented: “We are committed to playing our part in the energy transition. This includes pursuing a gas-weighted portfolio as a key bridge to renewables. It also includes investing in innovation and technology to advance decarbonization and support the industry’s evolution. Working with partners to build on the progress we have already made is vital and we look forward to advancing this collaboration.”