ADNOC and Occidental looking at the development of DAC
ADNOC and Occidental collaborate on CCS and DAC
Strategic agreement includes evaluation of first megaton direct air capture project outside US
Abu Dhabi state energy company ADNOC and US energy firm Occidental have signed a strategic collaboration agreement to evaluate potential investment opportunities in CCS hubs and in direct air capture (DAC) projects in both countries. As part of the agreement, the two companies are looking at the development of DAC facilities in the UAE, including what could be the first megaton project constructed outside of the US. They will also assess the joint development of one or more carbon management hubs in the UAE, while ADNOC will explore participation in DAC and CO₂ sequestration hubs in the US that are under development by Occidental’s subsidiary, 1PointFive, including the Stratos DAC project in
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