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.
Petrofac has secured over a $330 million Engineering, Procurement and Construction (EPC) contract from ADNOC Gas for the Habshan Complex in Abu Dhabi. The contract includes the construction of two gas compressor trains, utilities, and power systems, with completion planned for 2028. This project aimed to support ADNOC Gas in increasing output from the complex to supply pre-conditioned gas to the Ruwais LNG project.
Petronas has reached a Final Investment Decision (FID) for the development of the Hidayah field in the North Madura II Contract Area, East Java, Indonesia. The project includes drilling oil production wells, an unmanned integrated wellhead and central processing platform, and a Floating Storage and Offloading (FSO) unit with living quarters and a central control room.
SLB has secured a series of major drilling contracts to support capital-efficient energy development across Shell’s deep and ultra-deepwater assets in the UK North Sea, Trinidad and Tobago, the Gulf of Mexico and others.
Equinor has announced a peak production of 42.5 billion standard cubic meters (bscm) of natural gas in the Troll filed in the North Sea in 2024, marking a 10% increase from 2022's production of 38.3 bscm.
