Eni has signed a memorandum of understanding (MoU) with oilfield services provider Saipem to collaborate on decarbonisation initiatives in Italy.

Under the partnership, the companies will explore collaboration opportunities in the sector of the carbon capture, utilisation and storage (CCUS) of carbon dioxide produced by local industrial districts.

Saipem has the experience of designing more than 70 carbon dioxide capturing plants and 40 facilities for its subsequent conversion into urea.

Saipem CEO Stefano Cao said: “The agreement signed with Eni strengthens Saipem’s role as a leading player in the carbon dioxide capture, transport, reuse and storage sector.

“We are able to propose concrete solutions to support the process of reducing carbon dioxide emissions of the energy and production chains of the industrial districts in Italy and contribute to the achievement of ambitious national and European objectives.”

The two companies also plan to participate in EU-funded programmes such as the Green Deal Strategy, as well as explore the feasibility of including specific initiatives within the EU’s recovery fund intended to support member states in the post-Covid-19 phase.

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By GlobalData

Eni CEO Claudio Descalzi said: “Through this strategic agreement, Eni intends to strengthen its leadership in the energy transition process, accelerating the evolution of its business model that combines economic and financial sustainability with environmental sustainability.

“The adoption of technological solutions for decarbonisation such as carbon capture, utilisation and storage, will be fundamental in the energy transition of the country, and Eni can provide unique skills and expertise in managing production processes and in the fight against climate change.”

The move comes as Eni is working to reduce its carbon footprint and increasingly focusing on delivering economically sustainable solutions to combat climate changes.