The Rabigh 2 solar project was awarded in the fifth round of the Ministry of Energy’s National Renewable Energy Program, which envisions the country’s power generation coming 50-50 from gas and renewables by 2030.
The value of the engagement was not disclosed in the announcement, but Shearwater described the contract as “large.”
Saudi Arabian Oil Co. (Aramco) has completed the purchase of a 10 percent stake in Horse Powertrain, in an agreement announced June. Aramco said in a media release the transaction, completed through its unit Aramco Asia Singapore Pte. Ltd., is part of efforts to develop new mobility solutions with the potential to reduce transport emissions.
Oil rose the most in more than two weeks as the US imposed more sanctions targeting Iranian crude and OPEC+ made progress on a deal to keep output off the market.
Three compression stations will be built at the field, coming on line between October 2026 and April 2027. The project is designed to conduct an overall upgrade to the field’s gas gathering and processing network.
Tullow Oil has provided an update in its Trading Report released on November 29, 2024, revealing that the International Arbitration Court in London is preparing to deliver its decision on the tax dispute with the Ghana Revenue Authority (GRA).
The state-backed oil and gas exploration and production company expects the project to reach about 17,000 barrels of oil equivalent a day (boed) in peak production in 2027. The oil portion is heavy crude, according to a statement on CNOOC Ltd.’s website.
DNO ASA announced Monday an oil and gas discovery in an area of the Norwegian North Sea that it said has attracted little exploration interest, putting the size between 27 million barrels of oil equivalent (MMboe) and 57 MMboe.
The project is located in the Pearl River Mouth Basin, with an average water depth of approximately 110 meters. The main production facilities include a new intelligent drilling production platform, as well as the adaptively modified “NAN HAI FEN JIN” FPSO. A total of 19 development wells are planned to be commissioned, including 2 oil production wells and 17 gas production wells. The project is expected to achieve a peak production of approximately 20,600 boed in 2027. The main products include light crude and natural gas.
In mid-April 2024, the FSRU Toscana was successfully towed with the support of two tugs, to the port of Genoa, Italy, where it began the first phase of an ‘extraordinary maintenance intervention’ campaign. The FSRU Toscana was subsequently towed to the port of Marseille, France, where maintenance was completed. The FSRU has recently been towed to its site offshore Livorno, Italy, where it resumed commercial operations at the end of November 2024.