1、OIL AND GAS DECARBONIZATION IN THE GULF REGIONCurrent projects and a forecast of future developmentEnergy Transition Outlook 20262DNV Oil and gas decarbonization in the Gulf regionFOREWORDFor more than 160 years,DNVs purpose has been to safeguard life,property,and the environment.In the 1970s,we est
2、ablished a presence in Abu Dhabi to serve ADNOC and the oil and gas industry.We subsequently expanded into other Gulf Cooperation Council countries and are now involved in many of the regions flagship energy projects in oil and gas,renewables,energy storage,and power grids.We have supported the regi
3、ons energy sector by sharing knowledge and international best practices,including training on the latest technology trends.As a global classification and verification body,we ensure relevant standards and recommendations are followed.Our annual Energy Transition Outlook(ETO)and related reports contr
4、ibute research-based insights that assist our customers in their decision-making on the transition.Our recent transition-related work in the Gulf Region includes emerging CCS developments and other initiatives for mitigating GHG emissions.As we mark 50 years in the region,we are pleased to present t
5、his Outlook on decarbonization of the GCC oil and gas industry.As the region has moved decisively to strengthen its position as a leading global energy supplier,it has also established ambitious decarbonization goals.All GCC members now aim to reach net zero by 2050 or 2060.With emissions related to
6、 oil and gas production forming a significant share of national GHG inventories,decarbonizing this sector is essential for achieving national targets.We expect the GCC share of global oil and gas production,currently at 18%,to rise due to the regions low-cost production and its strategic location.Gl