TotalEnergies, QatarEnergy, and Petronas Petróleo Brasil Ltda (PPBL) have been awarded the Agua Marinha block today in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP). Petrobras has exercised their right to take 30% Participating Interest and Operatorship.
Eni Chief Executive Officer Claudio Descalzi and Snam Chief Executive Officer Stefano Venier inked an equal joint venture (JV) agreement to develop and manage Phase 1 of the Ravenna Carbon Capture and Storage (CCS) Project. The agreement also includes the implementation of studies and preparatory activities for the subsequent development phases.
Brazil's National Agency of Petroleum, Natural Gas, and Biofuels has granted QatarEnergy the Agua-Marinha Production Sharing Contract (PSC) as part of a partnership with TotalEnergies and Petronas (ANP).
In order to keep the industry informed of its next plans, PETRONAS has produced its Activity Outlook for 2023-2025, which offers insights on industry trends, demand outlook, and expected activities for the next three years.
The Saudi Arabian Oil Company (“Aramco”) and TotalEnergies have made the final investment decision (FID) for the construction of a world scale petrochemical facility in Saudi Arabia.
Chevron Corporation, through its Chevron New Energies business, and Baseload Capital have declared a joint venture (JV) to develop geothermal projects in the United States. The two businesses will work together to advance geothermal potential, including figuring out which areas have the highest chances for growth and operation, as well as moving the next wave of geothermal technology from the pilot stage to the commercial stage.
Petroleum Sarawak Exploration & Production Sdn. Bhd. ("PSEP") and Sarawak Shell Berhad ("SSB"), both subsidiaries of Shell plc, have reached an agreement for SSB to sell its interest in two offshore production sharing contracts (PSC) in the Baram Delta.
PETRONAS Carigali Sdn Bhd (PCSB) and JX Nippon Oil & Gas Exploration Corporation (JX Nippon) signed a head of agreement (HOA) to work together on creating a proposal to capitalize on the gas potential within the Bujang, Inas, Guling, Sepat, and Tujoh (BIGST) fields offshore Kerteh, Terengganu.
Prince Abdulaziz bin Salman Saudi Arabia's energy minister stated that the impact of European sanctions on Russian crude oil and price limit measures "did not bring clear results yet" and that its execution was still uncertain.
At one of its natural gas compression units in Istrana, Italy, Snam performed a series of tests in November that were intended to explore the use of hydrogen as a fuel to power gas turbines. The experiment, which was the first of its kind globally and carried out in collaboration with Baker Hughes, an energy technology company, demonstrated the compatibility of the various assets with the use of a blend of hydrogen (at 10%) and natural gas.
