UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has reached a strategic agreement with France-based TotalEnergies to strengthen their partnership and explore new growth opportunities across the energy value chain.

Under the agreement, both companies will cooperate in areas of mutual interest, including gas growth, carbon capture utilisation and storage (CCUS), as well as trading and product supply, according to a press release on Tuesday.

Previously, the UAE-France Comprehensive Strategic Energy Partnership (CSEP) was signed for improving energy security, energy affordability, decarbonisation, and progressive climate action ahead of COP28, set to be held in the UAE in 2023.

The Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, Sultan Ahmed Al Jaber, said: "The agreement offers the potential to accelerate growth and create greater and more sustainable value for our mutual benefit."

Meanwhile, the Chairman and CEO of TotalEnergies, Patrick Pouyanné, commented: "Our partnership across the entire energy value chain allows our two companies to join forces to contribute to the energy supply of global markets, while reducing carbon emissions from our operations."