Halliburton and the other oilfield services giants such as SLB and Baker Hughes have already flagged there would be lower revenues and profits this year amid a decline in oil prices and increased uncertainties about demand, drilling activity, production and drilling costs.
SLB will deploy its Sequestri™ carbon storage solutions portfolio — which includes technologies specifically engineered and qualified for the development of carbon storage sites — to construct six carbon storage wells. The project scope includes drilling, measurement, cementing, fluids, completions, wireline and pumping services.
The objective is to harness the value of that data to enhance decision-making, specifically through the use of AI, and optimize operational efficiency, energy use and environmental performance at TotalEnergies sites worldwide, thereby continuing to supply more reliable and sustainable energy.
Begonia-2 is expected to produce 141,583 cubic metres (5 mcf) of gas per day and is the first of 11 wells planned in a USD 100 million programme to boost company reserves and gas output in Egypt. The well is located in the New El Manzala concession and operated by El Wastani Petroleum Company, a joint venture between Dana Gas and the Egyptian Natural Gas Holding Company.
“By forming a global alliance with Shell Catalysts & Technologies in the field of carbon capture, we combine cutting-edge technology, smart engineering, and excellence in project execution. This global alliance is the result of more than 10 years of collaboration and continuous innovation,” Arnaud Pieton, Chief Executive Officer of Technip Energies, added. “Our ambition is to deliver a world designed to last by enabling hard-to-abate industries to decarbonize with greater certainty and affordability.
Earlier this month, Petronas formalized several key agreements with the state of Sabah through its unit, Malaysia Petroleum Management. These deals are part of the Commercial Collaboration Agreement that Petronas signed with the state government in 2021. The collaboration agreement aims for a long-term and structured approach to securing a reliable gas supply for the state’s expanding domestic demand, while enabling sustainable industrial growth, according to Petronas.
The potential renegotiation is the latest step in the saga that started in March 2023, when Turkey closed the link after an arbitration court ordered the country to pay Iraq $1.5 billion over unauthorized exports. Numerous attempts to restart shipments have since failed – including due to disagreements between Iraq, its semi-autonomous Kurdistan region and companies operating in the area.
Krzysztof Galos, undersecretary of state and chief national geologist, said, “The discovery of the Wolin East hydrocarbon deposit – although it still requires the preparation, submission, and approval of the deposit’s geological documentation – may prove to be one of the breakthrough moments in the history of hydrocarbon exploration in Poland, especially with regard to areas that have so far remained insufficiently explored, such as Poland’s Exclusive Economic Zone in the Baltic Sea”.
The original agreement, first inked in 1973, concerns the pipeline carrying oil from the semi-autonomous Iraqi region of Kurdistan to the Turkish port of Ceyhan on the Mediterranean. Flows along the Kirkuk-Ceyhan pipeline, which has a capacity for 1.6 million barrels daily, have now been suspended for two years amid a financial dispute between Ankara and Baghdad.
“The Secretary of State is today writing to the Insolvency Service to demand an immediate investigation into the conduct of the directors, and the circumstances surrounding this insolvency,” Shanks also said, adding that Prax Group had left the government with “very little time to act” on finding a way to save the refinery. He further slammed the owner for putting the refinery in an “untenable position” and called on the company to provide financial support for the refinery workers.