UAE’s state-owned oil giant Abu Dhabi National Oil Co (ADNOC) has inked its first investment deal in the UK, the Abu Dhabi Media Office reported today.
As part of the deal, ADNOC and bp will move to the design phase of the low-carbon hydrogen H2Teesside project in the UK.
The deal will also include a feasibility study for a low-carbon hydrogen project in the UAE, according to the state-run news agency.
Masdar and bp will also to explore potential collaboration on HyGreen Teesside, bp’s green hydrogen project powered by offshore wind in the UK’s Teesside industrial cluster.
The agreement also sees the ADNOC-bp-Masdar partnership expand to explore production of Sustainable Aviation Fuels (SAF) from municipal waste and green hydrogen in Abu Dhabi, leveraging the capabilities of the UAE’s Tadweer and Etihad Airways.
Strengthened collaboration builds upon bp’s decades of commercial activity in the UAE’s domestic energy sector, and underscores the partners’ shared commitment to grow their new energy operations and maximise opportunities of the energy transition.
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