The Abu Dhabi National Oil Company (ADNOC) revealed that it cut the equivalent of 6.2 million tons of carbon dioxide (scope 1 and 2 emissions) including approximately 4.8 million tons of CO2 emissions from using clean grid energy from solar and nuclear power in an effort to reach net zero by 2045.
In its latest Sustainability Report 2023, ADNOC also revealed that its greenhouse gas emissions from its upstream operations reached 24 million tons of carbon dioxide in 2023, a decline from 24.1 million tons in 2022.
In 2023, ADNOC achieved about 900 kilotonnes of CO2 emission reductions due to energy efficiency initiatives. The company now aims to achieve a 5 percent energy efficiency improvement by 2025 compared with a 2018 baseline.
“Our strategy is aligned with the UAE Consensus and the need for a fully inclusive approach to the climate challenge. It acknowledges the role our industry must play in achieving a just, orderly and equitable energy transition to meet the global goal of net zero by 2050,” stated ADNOC in the report.
Investments in decarbonization projects
In 2023, ADNOC allocated $15 billion to invest in decarbonization projects, including carbon capture, electrification, new CO2 absorption technology, hydrogen and renewables. Moreover, it raised this investment to $23 billion in early 2024. In addition, it increased its carbon capture capacity target to 10 million tons per annum by 2030, up from the previous target of 5 million tonnes.
“We take a ‘triple bottom line’ approach to sustainability focusing on people, planet and profitability. This integration helps ensure we deploy robust sustainability practices across our operations, and that we can achieve our goals and ambitions,” stated Ibrahim Al Zu’bi, Group Chief Sustainability & ESG Officer.
Oil and Gas Decarbonization Charter
ADNOC also became a founding member of the Oil and Gas Decarbonization Charter, a global industry partnership that the COP28 Presidency launched. The charter aims to deliver near-zero methane by 2030 and net zero by 2050.
“We are leveraging technology, artificial intelligence, and innovation to accelerate this journey and are collaborating with our customers to lower emissions from sectors that are harder to decarbonize,” added the report.
The company also took a final investment decision on two major carbon capture, utilization, and storage projects with a total capacity to capture and permanently store 2.9 million tons of CO2 per annum.
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Expanding carbon management footprint
In 2023, ADNOC awarded a $1 million piloting opportunity to Revterra in the worldwide Decarbonization Technology Challenge final. Moreover, it acquired a 10.1 percent equity stake in Storegga, further expanding its global carbon management portfolio.
“We are determined to further decarbonize our operations while also helping build tomorrow’s energy systems. We accelerated our net zero ambition to 2045 and have several decarbonization projects underway to meet our target of reducing our greenhouse gas intensity by 25 percent by 2030,” added Al Zu’bi.
ADNOC also planted 2.5 million mangrove seeds through pioneering drone technology to absorb CO2 and other greenhouse gases, supporting biodiversity and providing additional marine life habitat.
In addition, it contributed over $11.2 billion to the UAE economy, bringing the total In-Country Value spent since the program’s launch to $51 billion. Furthermore, it announced a $2.2 billion project with TAQA for sustainable water supply to onshore operations.
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