UAE: MOU between the UAE’s “Mubadala Petroleum” and the Italian “Eni” for a partnership in reducing emissions

The UAE’s “Mubadala Petroleum” owned by the Abu Dhabi government’s sovereign wealth fund has signed a memorandum of understanding with the Italian energy company Eni, in the field of energy sector transformation to reduce carbon emissions.
Mubadala Petroleum will look for joint opportunities with Eni in the Middle East, North Africa, Southeast Asia and Europe.
It is worth noting that the new trends of international energy companies and the Gulf oil-producing countries focus on diversifying energy sources so that their effects become less harmful to the environment within the framework of their commitment to confront climate change.
Mubadala Petroleum stated that this partnership comes within the framework of its focus on a business portfolio that relies on natural gas, which constitutes two-thirds of its assets, and indicated its success in reducing the level of greenhouse gas emissions by 25% during the past three years.
On the other hand, in a separate statement to the Italian company, Claudio Descalzi, CEO of Eni, said: “We will work with our strategic partner, Mubadala Petroleum, to find ways to achieve common global decarbonization goals.”