Abu Dhabi-based energy companies, Masdar and Mubadala Energy, have partnered up to explore decarbonisation strategies ahead of the COP28 conference, which will be hosted in the UAE in November.
The companies will coordinate to decarbonise their operations in the Middle East and North Africa (MENA) and Southeast Asia (SEA).
The partnership will cover technical solutions to decarbonise upstream oil and gas assets, potential joint investments in new energy and lower carbon projects, and collaboration on emissions management initiatives.
Mohamed Jameel Al Ramahi, Chief Executive Officer, 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.”
Masdar has previously invested in green projects including green hydrogen.