The Abu Dhabi National Oil Company (ADNOC) has reached a final investment decision (FID) to develop the Habshan carbon capture, utilisation and storage (CCUS) project, which will have a capacity of 1.5 Mt/year and be located in south-western United Arab Emirates. The project will include carbon capture units at the Habshan gas processing plant, pipeline infrastructure and a network of wells for CO2 injection.
With the Habshan project, ADNOC will triple its carbon capture capacity to 2.3 Mt/year. In January 2023, ADNOC announced it would allocate US$15bn to decarbonisation projects by 2030. In addition, in July 2023, the oil group brought forward its net zero carbon emissions target by five years to 2045.
In November and December 2023, the UAE will host the United Nations’ COP28 climate summit, whose incoming president happens to be ADNOC’s Chief Executive.