The firm plans to pump the captured CO₂ in the gas reservoir at the Elk field, in Papua New Guinea, back into the ground.
Located in the Tianjin Province, the petrochemical project will include a 1.2 million tonnes per annum ethane cracker and 12 derivative units.
Of late, shale oil and gas producers are primarily focusing on maximising value for their shareholders.
For 15 years, Engie will receive approximately 0.875 million tonnes per annum of LNG from the Port Arthur LNG Phase I project.
The firms will focus on electrifying the Clair field, Rosebank field, and Cambo field, all located in the UK North Sea.
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The two countries have announced their partnership to improve energy security and reduce prices.
The Nahara-1 well encountered hydrocarbons in the Late Oligocene to Middle Miocene aged sedimentary sequences.
Planned to be commissioned in Q4 2025, the subsea development will involve an investments of Nkr4.7bn ($478.4m).
The firms will undertake preliminary activities related to the FPSO unit for the Agogo Integrated West Hub development.
The partners will explore and appraise Unconventional Onshore Block 1 in Abu Dhabi’s Al Dhafra region.