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Abu Dhabi's state-owned Mubadala Petroleum has unveiled its new brand name as it looks to expand its gas portfolio and increase its focus on sustainable energy sectors.
Under the new brand, Mubadala Energy, the company will build on its contribution to the energy transition strategy by expanding into areas such as LNG and exploring new sectors, including blue hydrogen and carbon capture.
The strategy also sees a "strategic focus on decarbonizing the business while driving innovation and technology across all operations", the company said in a statement on Tuesday.
"This new brand identity accurately reflects the business in its next phase of growth aligned with the energy transition through a gas-weighted portfolio and an increased focus on more sustainable energy sectors," said Musabbeh Al Kaabi, CEO of UAE Investments at Mubadala Investment Company and Chairman of Mubadala Energy.
Mubadala Energy shifted its strategy to natural gas in 2017. The shift saw the company realise key projects, such as the acquisition of a 10% participating interest in Egypt's Zohr gas field and 22% stake in Tamas Gas field, offshore Israel.
(Writing by Cleofe Maceda; editing by Seban Scaria)
