Mubadala Energy, Masdar to collaborate on decarbonisation projects

Image: Mubadala Energy

Mubadala Energy and Masdar have signed an agreement, which 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 know-how 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. These include:

• Technical solutions to decarbonise or improve the energy efficiency of upstream oil and gas assets
• Potential joint investments in value-accretive new energy
• Lower carbon projects and collaboration on emissions management initiatives

Mubadala Energy, Masdar to drive energy transition

Dr Bakheet Al Katheeri, CEO of UAE Investments Platform at Mubadala Investment Company, said he was confident this collaboration would accelerate solutions to complex challenges and create opportunities for strategic investment. “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 accelerate solutions to complex challenges and create opportunities for strategic investment.”

Mansoor Mohamed Al Hamed, CEO Mubadala Energy, said: “Aligned with the UAE’s net zero ambitions, we continue to action a clear strategy to recalibrate our business and play a more proactive role in supporting the energy transition drive towards lower carbon energy. This means we are doubling down on gas across our value chain, exploring investments in new energy sectors such as blue hydrogen and carbon capture, utilisation and storage (CCUS), and looking at other technological levers to decarbonise operations.”

Mohamed Jameel Al Ramahi, CEO, Masdar, said: “Masdar believes that energy sector investments must support scalable clean energy alternatives, new solutions for hard to abate industries and more efficient use of natural resources, to mitigate climate change while ensuring a sustainable energy supply.

“This landmark agreement with Mubadala Energy aligns with those objectives and with our shared ambition to position the UAE at the forefront of the global energy transition.”