Italy's Snam is studing a binding offer for a stake in Eni's carbon capture and storage (CCS) business, with plans to submit it next month. This follows their joint project launched last year to create Italy's first CCS hub, and Snam is considering integrating its 50% stake into Eni's CCS unit. CEO Stefano Venier mentioned that they are reviewing documentation and preparing the offer by the end of February.
Chevron has started oil production, through Tengizchevroil LLP, at its Future Growth Project (FGP) located at the Tengiz oil field in Kazakhstan, marked as the world’s deepest producing supergiant oil field and the largest single-trap producing reservoir in existence.
Saudi Aramco has purchased its first cargo of WTI Midland, a U.S. crude oil grade that underpins the global Brent benchmark, according to Reuters. The transaction took place on Tuesday in the Platts trading window, with Aramco acquiring the cargo from trading firm Gunvor.
Petronas has transferred operations of the Kebabangan cluster Production Sharing Contract (KBBC PSC) to ConocoPhillips' subsidiary, ConocoPhillips Sabah Gas Limited, effective January 21. The KBBC PSC, previously operated by Kebabangan Petroleum Operating Company Sdn. Bhd. (KPOC), is now solely managed by ConocoPhillips Sabah Gas Ltd. With an export capacity of up to 750 million standard cubic feet of gas per day (mscf/d), the KBBC PSC will continue until 2050, ensuring future gas field developments remain economically attractive and support Sabah's energy security.
Petrobras has extended the charter and service agreement for the FPSO Cidade de Angra dos Reis to continue operating in Tupi field at Santos Basin offshore Brazil until 2030. Along with the extension, the FPSO will undergo upgrades to enhance production reliability and efficiency, maintain platform integrity, improve operational safety, and reduce greenhouse gas emissions. The FPSO currently has a production potential exceeding 50,000 barrels per day (bbl/d).
Harbour Energy expects a rise in revenue to c.$6.1 billion from $3.7 billion in 2023, driven by increased production, according to its trading and operations update of the year ended 31 December 2024, released on Thursday. The company completed the transformational acquisition of the Wintershall Dea asset portfolio last September, leading to an increase in the company’s production and reserve life.
Eni's chemical company, Versalis, has partnered with Lummus Technology during which it will have the rights to license all of Versalis' technologies related to the phenolics value chain which range from Cumene to Cyclohexanone Oxime.
SLB and Star Energy Geothermal, a subsidiary of Indonesia’s Barito Renewables have signed a cooperative agreement to accelerate advanced technologies for geothermal asset development. SLB has previously worked with Star Energy Geothermal on technology solutions that optimize well placement and employ artificial intelligence (AI) to improve the efficiency and economics of drilling geothermal wells.
Kuwait Oil Company (KOC) announced a hydrocarbon discovery at the Al-Jlaiaa offshore field within the Kuwaiti waters, estimated to hold 800 million barrels (mmbbls) of medium-density oil and an estimated 600 billion standard cubic feet(bcf) of associated gas, equivalent to 950 mmbbls of oil equivalent.
Ghiath Diab, the oil minister in the interim government appointed by Syria's new rulers, has issued public tenders for oil and its products, Reuters reported.
