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CCUS

Asia

Petronas CEO talks up sustainable energy transition

Tengku Muhammad Taufik, chief executive of Malaysian national energy company Petronas, today told the Asia Future Energy conference, that the pathway to a sustainable energy system is not yet clear. Moreover, there will be many different paths to achieving a net-zero emissions energy system, he said.

Asia

BP bags approval for $2bn Tangguh LNG expansion project

Indonesian upstream regulator SKK Migas has approved BP’s $2.04 billion plan to develop new gas fields in West Papua that will supply its Tangguh liquefied natural gas (LNG) export project. However, the UK supermajor will likely need Indonesia to finalise regulations around carbon capture, utilisation and storage (CCUS) before any expansion can take place.

Asia

Pertamina courts ExxonMobil at East Natuna for oil development

Indonesian national oil company (NOC) Pertamina is doggedly pursuing US major ExxonMobil to help it develop oil resources at the giant East Natuna field in the disputed waters of the South China Sea. Development of the field faces huge technical, economic and geopolitical challenges, but Pertamina believes a gradual phased development, starting with oil could offer a solution.

Asia

CCS is crucial for BP and Repsol investments in Indonesia

Proposed new regulations signal that the Indonesian government appears to have recognised the importance of supporting carbon capture and storage (CCS) schemes. Such regulations will be crucial to encourage major companies, such as BP and Repsol, to invest in significant new upstream production in Indonesia.

Promoted

Time to adjust and embrace new thinking

It’s fair to say 2020 has been an unprecedented year. Imagine how unlikely it would have seemed this time last year if someone had said wearing masks in a shop would now be essential, handshakes a distant memory and that we would need to brave the October chill outside the Chester Hotel and Dutch Mill to enjoy a drink?

Europe

Europe’s CCS projects boosted by increased funding

Increased funding from the EU and national governments have boosted the prospects for carbon capture technologies in Europe. Three projects in the Netherlands, Norway and UK could be operational by 2024.

Opinion

We must lead. We must act.

The Covid-19 pandemic has had a vast impact on people’s lives, as well as on companies around the world.

Promoted

SPE Aberdeen Section focuses on the energy transition

The clock is now ticking to reach the target of Net Zero by 2050 in the UK (2045 in Scotland).  The oil and gas industry is a critical part of this transition to net zero and has the potential to be the leader in developing the solutions which will unlock a new, low carbon economy. This pivotal role of the oil and gas industry was clearly recognised recently by the Scottish Government with the £62 million Energy Transition Fund to support net zero projects.

Opinion

Time to get tough over climate change

Don’t know about you but my patience with certain politicians, the oil and gas industry and indeed a few entire countries is running just a tad thin nowadays. Why? Because I am not seeing the progress in dealing with climate change that I should be seeing.

North Sea

North Sea industry transition to continue in 2020

The North Sea oil industry has been in transition for some years following the collapse of oil prices in late 2014.  Large cost reductions have been painfully achieved.  Production has increased due to a combination of new fields coming on stream plus a substantial increase in production efficiency to around 75%.  But new field investment expenditure has fallen dramatically since 2015 and exploration remains at a relatively low level reflecting principally the maturity of the province as well as oil and gas prices far below their pre-2015 levels.