INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Work begins on world’s first fully sequestered CO2 injection project

The project is expected to begin injecting CO2 in Q2 2023. (WAM)
  • The CO2 injection well project builds on ADNOC's experience with its carbon capture facility at Al Reyadah, which has the capacity to capture up to 800,000 tons of CO2 per year.
  • The project will also be monitored and assessed, using advanced technology at ADNOC's Thamama Digital Centre of Excellence, ADNOC said.

Abu Dhabi, UAE– The Abu Dhabi National Oil Company (ADNOC) announced Wednesday that it has begun work on the world’s first fully sequestered carbon dioxide (CO2) injection well in a carbonate saline aquifer.

The project, which is expected to begin injecting CO2 in the second quarter of this year, will initially fully sequester a minimum of 18,000 tons per annum of CO2 captured from Fertiglobe’s UAE operations for injection in Abu Dhabi’s onshore carbonate aquifers.

The CO2 injection well project builds on ADNOC’s experience with its carbon capture facility at Al Reyadah, which has the capacity to capture up to 800,000 tons of CO2 per year.

The well location for CO2 injection and targeted geological formations were identified using the results of ADNOC’s extensive 3D seismic survey and the company’s subsurface modelling capacity, ADNOC said in a statement.

The project will also be monitored and assessed, using advanced technology at ADNOC’s Thamama Digital Centre of Excellence, to ensure the highest levels of environmental safety as the company expands its carbon capture activities to capture 5 million tons per annum by 2030, the statement added.

Yaser Saeed Almazrouei, ADNOC Upstream Executive Director, said, “Carbon capture and storage will play an important role in reducing emissions and achieving global climate goals…At Al Reyadah, ADNOC deployed the region’s first carbon capture project at scale, and we are taking another tangible step to deliver on our $15 billion decarbonization action plan with the world’s first fully sequestered CO2 injection well.”