17 September 2024
17 September 2024
Despite its vast reserves, a South Sudan civil war and later regional conflict have severely impacted crude oil production in recent years.
Russia’s oil and gas industry is still operating effectively in various parts of the world.
The proceeds from this transaction will contribute to bp's divestment target of $2bn–3bn by 2024.
The field is co-owned by Europa, HEYCO Energy Group and Union Jack Oil, and was first discovered in 2014.
Woodside is engaged in talks with US onshore gas producers, pipeline operators, and other companies.
This approach is a pivot from the company's previous plan.
Aramco will fully fund the transaction, which will raise its ownership in MidOcean to 49%.
These initiatives, unveiled at the Global AI Summit in Riyadh, include partnerships and the deployment of an AI supercomputer.
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