27 October 2023
27 October 2023
Process and Industrial Developments (P&ID) launched an arbitration case against the Nigerian Government after a gas deal collapsed, but the $11bn ruling was overturned on Monday.
The latest LNG supply agreement is in addition to the 1.4bcm per annum deal Eni has had in place with Indonesia’s Jangkrik LNG Sellers since 2017.
As per the estimates, Kobra East & Gekko (KEG) holds recoverable reserves of around 40 million barrels of oil equivalent (mboe).
Located near the Brage field, the discovery holds between 0.2 and 0.5 million standard cubic metres of proven recoverable oil.
From January to September 2023, average daily production of hydrocarbons was 600,000 barrels, which was 10% more than during the same period last year.
The LCS unit employs around 1,300 people, and Shell plans to eliminate 200 jobs in 2024 and has put another 130 roles under review.
A final investment decision for the gas export project is expected in the second half of 2024.
The IEA’s World Energy Outlook 2023 sees a decline in the fossil fuel share in global energy supply to 73% by 2030 and carbon dioxide emissions peaking by 2025.
The Excellence Awards celebrate the greatest achievements and innovations in the industry while providing a platform to recognize the people and companies driving change – get entry details now.
GHG emissions generated by O&G operations accounted for 15% of total energy-related emissions worldwide in 2022. A further 40% of such emissions came from the use of oil and gas for power generation, heating, vehicle fuel, and industrial processes. Only 6 companies have targets covering Scope 3 emissions. To reduce Scope 3 emissions, O&G companies are switching their products to lower-carbon sources of energy including hydrogen, LNG, biofuels, and renewables.
Give your business an edge with our leading industry insights.
