Aramco inked 59 corporate procurement agreements (CPAs) with 51 domestic and international firms, potentially resulting in the creation of 5,000 new employment in the Kingdom of Saudi Arabia over the following ten years. The $11 billion deals are anticipated to strengthen Aramco's reliable supply chain and lead to the establishment of facilities for the production of materials in the Kingdom.
United Oil & Gas PLC (UOG) announced that the preliminary tests for its ASH-4 showed that its production flow rates reached 2,101 barrels of per day (bbl/d) of oil in addition to 3 million standard cubic feet per day (mmscf/d) from the Alam El Bueib ("AEB") reservoir on a maximum 40/64" choke.
Minister of Petroleum and Mineral Resources Tarek El Molla met with Miriam Dalli, Minister of Energy and Environment of Malta, and her accompanying delegation, on the sidelines of participation in the COP 27 Summit in Sharm El-Sheikh.
Minister of Petroleum and Mineral Resources Tarek El Molla stated that Egypt has a strategy to accelerate access to renewable energy such that its contribution to Egypt's energy mix will reach 42% by 2030.
Aramco, one of the top global integrated energy and chemicals businesses, and PT Pertamina (Persero) in Indonesia are investigating opportunities for cooperation throughout the hydrogen and ammonia value chain.
Addressing the issue of gas flaring and methane emissions has become more essential than ever with natural gas being a leading transitional energy resource. Being a significant contribution to global carbon emissions, the total volume of natural gas flared worldwide was 142 billion cubic meters based on estimates from the World Bank’s Global Gas Flaring Reduction Partnership (GGFR). Though this figure has declined significantly, the amount of gas that is flared globally remains sufficient to power Sub-Saharan Africa. Both flare gas and methane emissions that come from petroleum activities make up around 12% of greenhouse gas emissions within the global energy sector.
Agreements are concluded between two or more persons in public international law, and thus raise a case for international responsibility when there is a dispute. As for contracts, they are concluded between two or more private law persons, and these contracts are often concluded between natural persons, and may include a foreign party, making them contracts of a special nature.
Minister of Petroleum and Mineral Resources Tarek El Molla highlighted the necessity of providing Africa with adequate financial and technological support for it to achieve a just energy transition and effectively exploit its resources.
