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.
ADNOC Distribution announced the launch of the second phase of its service station solarization program in cooperation with Emerge, a joint venture between Masdar and the EDF Group. This initiative aims to enhance sustainability and operational efficiency by reducing greenhouse gas emissions and reliance on non-renewable energy.
SLB has released its results of the year 2024, recording 10% year on year (YoY) increase in revenues amounting to $36.29 billion. This was driven by the company’s acquisition of Aker Solutions in the fourth quarter (Q4) of 2023 alongside upstream operations in Europe, North Africa, and the Middle East during 2024.
KBR-AMCDE, based in Saudi Arabia, has been awarded the detailed design scope for a brownfield project in the Ras Tanura Refinery, Saudi Arabia’s oldest refinery established in 1945. The project, awarded by Sinopec Nanjing, involves replacing the main compressor at Plant 25 in the refinery.
CSPC, a joint venture between CNOOC Petrochemical Investment Ltd. and Shell Nanhai B.V. has reached a final investment decision for expanding its petrochemical complex in Daya Bay, Huizhou, South China with completion set for 2028. The expansion includes a third ethylene cracker with a capacity of 1.6 million tons per year and a facility to produce 320,000 tons per year of specialty chemicals like polycarbonates and carbonate solvents.
Equinor has been awarded 27 new production licences in the 2024 Awards in Predefined Areas (APA) by Norway’s Ministry of Energy. The licences include 20 in the North Sea, six in the Norwegian Sea, and one in the Barents Sea. Notably, Equinor will operate seven of these licences and be a partner in the remaining 20.
Sinopec Shanghai Petrochemical Company has announced plans to invest 21.31 billion yuan ($2.91 billion) to upgrade its operations aimed at maintaining the company's crude oil processing capacity and implement other operational improvements.
Austrian oil and gas company OMV has forecasted positive results on its fourth quarter of 2024, expecting about €210 million ($215.4 million) of earnings driven by its German gas supply contract with Gazprom.
