UAE oil giant pilots Blockchain platform to certify carbon utilization

 

UAE oil giant ADNOC ( Abu Dhabi Oil Company) is piloting a blockchain platform that will show how much CO2 was used to make products such as Murban crude ammonia, and aviation fuels. The pilot will be in cooperation with Siemens Energy AG. 

Using smart sensor data gathered from across ADNOC’s operational chain, from oil to customer, CO2 utilization will be recorded onto a decentralized blockchain ledger. As per the press release, such transparency will allow independent regulators to certify the carbon intensity of products. It will also give customers greater confidence and clarity over the carbon footprint of their purchases.

Abdulmunim Saif Al Kindy, Executive Director, People, Technology & Corporate Support Directorate at ADNOC, said: “People typically associate blockchain technology with crypto currencies, but the use of decentralized ledgers has significant implications for the energy industry. This pilot promises to shine a digital spotlight into our manufacturing processes. It will show the world why energy supplied by ADNOC is among the least carbon intensive in the oil and gas industry.”

The low-carbon energy certificate initiative forms part of a broader memorandum of understanding between ADNOC and Siemens Energy. Under the agreement, specialists from both companies will co-create technologies to accelerate decarbonization and the transition to clean energy. 

Dr. Fahad Al Yafei, Chief Technology Officer, Siemens Energy Middle East, said: “By leveraging our unique knowledge and expertise of certificates of sustainability, Siemens Energy will work with ADNOC to develop solutions for the benefit of the energy industry. Investing in innovation and the co-creation of technologies are vital tools for reducing emissions and meeting Net Zero targets.”

The agreement was signed by Sophie Hildebrand, Chief Technology Officer, ADNOC and Dr. Al Yafei.

Back in 2018 ADNOC had announced its successful collaboration with IBM, piloting a Blockchain-based automated system to integrate oil and gas production across the full value chain. The  system provided a secure platform for the tracking, validating and execution of transactions at every stage, from production well to the end customer.  

In 2020, ADNOC announce that its Panorama Digital Command Center (Panorama)  generated over $1 billion (AED 3.67 billion) in business value since its inception in 2018. Panorama was a key part of ADNOC’s ongoing strategic investments in digitization, blockchain and artificial intelligence (AI) to enable the company to drive greater efficiencies, optimize performance, and respond to complex market dynamics with agility and speed.