Capterio calls on UAE to build bridge to zero flares
“We need to have the right engagement with difficult to engage countries,” Davis explained. “We have to engage the other half and try new approaches.”
“We need to have the right engagement with difficult to engage countries,” Davis explained. “We have to engage the other half and try new approaches.”
Dana Gas CEO Patrick Allman-Ward said the company had made significant strides energy efficiency and greenhouse gas emissions in the past few years. The company has cut flaring 47% since 2019.
Greenpeace has attributed the fact that disaster has not occurred to “the heroic efforts of a small skeleton crew and a great deal of luck”.
Saudi Arabia issued big price increases for its crude to Europe and the Mediterranean, while also unexpectedly lifting the cost of barrels to Asia, a move that risks stifling demand for the kingdom’s barrels.
“We are increasingly aware of the reputational challenges posed by our brand name and positioning,” the centre reported Adnoc as saying.
The company said that more than 70% of contract value would go back into the UAE, under its in-country value (ICV) programme.
It will increase the throughput of gas from 1.2 billion cubic feet per day to nearly 1.4 bcf per day, or from 12 billion cubic metres per year to 14 bcm. The new gathering pipeline should reach first gas in the second half of 2025.
“Petrofac has a long and strong track record supporting Adnoc in the UAE, rooted in our steadfast commitment to maximising local delivery, investing in the local supply chain, and developing local teams," said Petrofac Engineering & Construction COO Elie Lahoud.
Saipem (BIT: SPM) has been awarded a pair of offshore drilling contracts worth a total of $550 million.
At FID, Total said it aimed to start commercial operations in 2027.
SLB’s (NYSE: SLB) chief executive has told the JP Morgan Energy Power and Renewable Conference that offshore spending will increase by 20% in 2023.
China National Petroleum Corp. (CNPC) has signed up to take 4 million tonnes of LNG from Qatar and a stake in the North Field East (NFE) project.
The company has said the expansion of its fleet drove this increase. Its main shipping routes are from the Arabian Gulf and West Africa into Asia and Australia.
Talks were reportedly under way on the Gaza Marine development plan last year. The Washington Post said development work would cost around $1.4 billion. The report said development would take just over a year from a final agreement.
Gulf Keystone had previously trucked Shaikan crude to the Turkish border, for onward transport via pipeline to Ceyhan in 2015. It ended trucking in 2019.
Shell (LON: SHEL) has decided to exit Pakistan in a setback for the South Asian nation that is going through its worst economic crisis.
"Upon completion, the new facility is set to create over 100 job opportunities for technicians and workers, thereby contributing to the local employment landscape," he said.
The Lower Zakum long-term development plan aims to increase production to a peak of 500,000 barrels per day. Adnoc expects to achieve this in around five years.
Saudi Arabia will make an extra 1 million barrel-a-day oil supply cut in July, taking its production to the lowest level for several years after a slide in crude prices.
Saudi Aramco met with an army of Turkish contractors this week to discuss $50 billion of potential projects in the Gulf kingdom, underlining improving trade ties between the two countries after they buried a diplomatic spat over the killing of Jamal Khashoggi.
The new rigs will use a high capacity battery and engine, in parallel to traditional diesel generators. As a result, Adnoc Drilling said the new units would reduce greenhouse gas emissions by 15% in comparison with a traditional rig.
Creating the new grade could help ensure the quality of Adnoc’s other offshore crudes by weeding out heavier barrels.
Saipem’s Castorone vessel will carry out the offshore operations, starting in the summer of 2024. The company previously worked on the first phase of the Sakarya field, which began producing in April.
Olympus will come at a lower cost than Tanin, Energean said, owing to its proximity to the FPSO. As a result, capital expenditure for the next phase of tie-backs will be lower.
By 2027, rig demand in the GCC area will be 53% higher than 2019, Westwood’s Jensen predicted.