Mubadala Energy, Masdar collaborate on decarbonisation and energy transition initiatives

Mubadala Energy, Masdar collaborate on decarbonisation and energy transition initiatives

ABU DHABI, 17th July, 2023 (WAM) -- Mubadala Energy and the Abu Dhabi Future Energy Company (Masdar) have entered into an agreement to explore and potentially engage in opportunities relating to decarbonisation and energy transition initiatives.

The partnership will see both companies jointly explore collaborations that leverage Mubadala Energy’s deep technical capabilities across its operated and non-operated portfolio, together with Masdar’s world-leading expertise in decarbonisation and energy transition technologies.

With a focus on Mubadala Energy’s core regions, including the Middle East and North Africa (MENA) and Southeast Asia (SEA), and with the option of exploring other regions of mutual interest, the partnership will cover a range of synergistic areas.

This includes technical solutions to decarbonise or improve the energy efficiency of upstream oil and gas assets, potential joint investments in value-accretive new energy and lower carbon projects, and collaboration on emissions management initiatives.

Commenting on the announcement, Dr. Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala Investment Company, said, “Energy transition and decarbonisation are key drivers shaping the global economy. By bringing together two of Abu Dhabi’s leading international energy champions to leverage their deep expertise, we are creating a catalyst for innovation. I’m confident this collaboration will