16 May 2025
16 May 2025
This comes as economic headwinds and a surge in EV sales temper oil use, despite the accelerating declines in OECD countries.
These agreements, facilitated through Aramco Group Companies, span a diverse range of activities across multiple sectors.
The decision to negotiate with Ares comes after a comprehensive selection process that drew interest from numerous international investors.
The project represents a significant investment of approximately $1.54bn (Kd473.37m), aimed at producing 55 million standard cubic feet per year.
The field, located in Licence G10/48 with a 100% interest held by Valeura, is situated offshore the Gulf of Thailand.
This development comes after Energean completed the transfer of its subsidiary, which held a 45% and 37.5% interest in the respective licences.
The breakthrough will increase gas reserves and production efficiency in the China’s Puguang area.
Merging industry-leading business intelligence & award-winning journalism, this is an unrivalled opportunity for engagement with B2B professionals across a network of 40+ leading media websites.
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