“We are also spearheading the movement towards COP28 by establishing ourselves as a significant green energy supplier, beyond Africa. The benefits of the Egypt-Greece subsea transmission project are far-reaching.”
Woodside’s O’Neill said Australia had an opportunity to become a “regional CO2 storage leader”, offering to help countries such as Japan and South Korea.
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
“For us to make the big investments that we make which pay out over, or generate revenue, over 20-plus years we need a stable fiscal and regulatory regime,” said CEO Meg O’Neill.
The SC 38 consortium must also provide a decommissioning plan and budget, covering wells and facilities. This must include timing and costs, within 30 days of the renewal agreement.
ONGC intends to unlock the “vast potential of India's hydrocarbon resources along with reserves accretion, strengthening the nation's energy security”.
“Last year, developing economies received only 20% of clean tech investments. These economies represent 70% of the world's population – that's over 5 billion people,” Sultan Al Jaber said.
Last week, top ministers from the G7 nations held a two-day meeting in Sapporo, Japan, with the aim of setting ambitious goals to reduce CO2 emissions – specifically in the utilities sector.
Azule signed the main contracts for the Agogo project on Block 15/06 in February. It awarded riser and flowline supply to TechnipFMC, while Subsea 7 won transportation and installation work.
Keppel claimed $440mn plus interest for the first rig million and $269mn plus interest for the second rig. Awilco has warned that any ruling against the company could result in bankruptcy.
“From a market perspective, there’s a lot more interest in buying barrels at the right price, but there’s still appetite for exploration, particularly in sub-Saharan Africa.”
“The claimants’ lawyers spent five years and eight hearings to pursue this matter, disregarding the court’s time and costs. With no further right of appeal, this judgment brings an end to the claims here in England," a Shell representative said.
A group of nonprofits is pushing Barclays Plc to retract an analyst research note they claim amounts to a “whitewash” of the environmental and social impact of an African oil pipeline being developed by companies including TotalEnergies SE.
The licence extension was a condition for Afentra’s deal with Sonangol. The company agreed in April 2022 to pay $80mn for a 20% stake in Block 3/05. At the time, Afentra said it expected the deal to complete in the third quarter of 2022.
“The first well in the main field is starting up shortly. The build up to 110,000 bpd is clearly laid out and the activity set is on plan. The well rates are consistent – and slightly ahead of pre-drill estimates.”
Emery said that senior leaders at the IFC had undermined the “ambitious and thoughtfully designed” plan through a desire to “tell a magical story where a pinch of best practices and a dash of de-risking” would be enough to unlock the required financing.
The company found high API oil or condensate in the shallower Upper Angwa reservoirs. Deeper in the reservoir, the CGR becomes lower. The shallower levels are around 135 barrels per 1,000 cubic feet, decreasing to 30 barrels at the deeper.