Adnoc's focused investment and execution of operational and energy efficiency measures have resulted in $220 million (Dh808 million) in realized cost savings in 2024, the energy major said on Tuesday.

The company also aims to produce one million tonnes of low-carbon ammonia per annum.

The details were revealed in Adnoc's 2024 Sustainability Report, which details the company's ESG initiatives and successes over the past year.

Adnoc's Ruwais LNG project, set to commence operations in 2028, is projected to have a capacity of 9.6 mtpa, with 8 million tonnes already committed to international buyers. This facility will be powered by clean energy, positioning it as one of the world's lowest-carbon intensity LNG plants.

Through its shareholding in Masdar, Adnoc has invested in 51 gigawatts of renewable energy capacity globally and targets 100GW of renewable energy capacity by 2030.

Adnoc's Shah Oil Field has achieved an industry-leading carbon intensity of 0.1 kg CO2 emission per barrels of oil equivalent, a benchmark among global oil fields.“This milestone exemplifies Adnoc's leadership in sustainable energy production and reinforces its position as one of the world's lowest carbon-intensive oil and gas producers,” Adnoc said in a statement.

“Technology is essential to Adnoc's journey towards net zero, and this milestone at Shah demonstrates our commitment to sustainability and innovation. By leveraging advanced solutions including AI, digitalization, remote operations and predictive data analytics, we are optimizing operational performance while significantly reducing emissions, reinforcing our position as a provider of some of the world's least carbon-intensive oil and gas. We will continue to innovate to decarbonize our operations and futureproof our business while supporting a reliable energy supply to meet global demand,” said Musabbeh Al Kaabi, CEO of Adnoc Upstream.

Adnoc maintained its industry-leading upstream carbon intensity of 7kg of carbon dioxide per barrel of oil equivalent and achieved a significant reduction in its operational emissions of 6.6 million tonnes carbon dioxide equivalent. The company continued to advance its methane monitoring and reduction efforts, achieving a 22% decrease in methane emissions compared to 2023, the reprt said.

Adnoc returned $14.9 billion (Dh55.0 billion) to the UAE economy in 2024. Additionally, $19.6 billion (Dh72.3 billion) worth of products in its procurement pipeline were locally manufactured. The company created 7,000 new jobs for Emirati in the private sector, bringing the total number of jobs created to 18,500 since 2018.

The company achieved 22% reduction in methane emissions compared to 2023 and realized savings of $220 million (Dh808 million) from emission reduction initiatives, according to the report.

In response to the rising global demand for energy, Adnoc is expanding its portfolio of lower-carbon solutions, including renewables, CCUS, low-carbon hydrogen and low-carbon ammonia.“Our strategy focuses on enabling our customers to diversify their energy mix and meet their decarbonization goals. These efforts to deliver scalable and commercially viable solutions are central to our ambition to deliver secure, affordable and sustainable energy. Our efforts are supported through strategic partnerships and innovation,” Adnoc said.

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