Houston-based Occidental Petroleum has announced a partnership with Abu Dhabi National Oil (Adnoc) to explore potential carbon-management projects in the United States and the United Arab Emirates (UAE). Both companies are committed to achieving their net-zero emissions goals and will focus on developing carbon-management platforms.
One of the key initiatives is direct-air capture, which involves capturing CO2 from the atmosphere and storing it securely in deep geologic formations. Occidental is already investing over $1 billion in Texas to build direct-air capture plants, and Adnoc may join in by participating in similar plants and CO2 sequestration hubs developed by Occidental’s 1PointFive unit in the US.
Additionally, Occidental and Adnoc are considering the development of CO2 sequestration hubs in the UAE. A study is also being conducted for a direct-air-capture plant in the UAE targeting an output of 1 million metric tons per year.
This collaboration is supported by an agreement between the US and the UAE, which aims to mobilize $100 billion in clean-energy and carbon-management projects by 2035.
