ADNOC allocates $15bn to propel its decarbonization efforts by 2030

ADNOC allocates $15bn to propel its decarbonization efforts by 2030

Abu Dhabi National Oil Company (ADNOC) has launched a bold new strategy to progress the world-scale decarbonization of its operations.

ADNOC has allocated $15 billion to advance an array of projects across its diversified value chain by 2030. Throughout 2023, a suite of new projects and initiatives will be announced, including a first-of-its-kind carbon capture and storage (CCS) project, innovative carbon removal technologies, investment in new, cleaner energy solutions and strengthening of international partnerships.

Together with the recent formation of the ADNOC’s new Low Carbon Solutions and International Growth Directorate, these represent tangible and concrete action as the company reduces its carbon intensity by 25 percent by 2030 and moves towards its Net Zero by 2050 ambition.

Sultan bin Ahmed Al Jaber

Minister of Industry and Advanced Technology

MD & Group CEO

ADNOC “Under the directives of the UAE’s wise leadership and the ADNOC Board of Directors, ADNOC continues to take significant steps to make today’s energy cleaner while investing in the clean energies and new technologies of tomorrow. Now, more than ever, the world needs a practical and responsible approach to the energy transition that is both pro-growth and pro-climate, and ADNOC is delivering tangible actions in support of both these goals.”

Building on ADNOC’s Al