Adrian Mason’s Post

Looks like low carbon financing will be another key topic of interest at the forthcoming ADIPEC. The event has adapted from a mainly oilfield services event into one that is heavily focusing on the energy transition. Topics such as decarbonisation and AI will be at the forefront of discussions The ADIPEC Exhibition and Conference will be held in Abu Dhabi from 4-7 November #ADIPEC #AI #oil #gas #decarbonisation #energytransition #lowcarbonfinance https://lnkd.in/eSqTWhXC

*** Decarbonizing/Emissions Targets of Independent Oil Gas Companies *** • Further to previous posts this chart shows the measure of scope 1 and 2 emissions and decarbonization targets of a selection of independent Oil & Gas companies Drop me a note for further details #netzero #emissions #energytransition #decarbonization #APAcorporation #BHP #conocophillips #chesapeakeenergy #devon #eogresources #inpex #mitsui #occidental #woodside

*** Major LNG Projects in Asia - Regasification & Liquefaction to 2028 *** • In Asia 35% of the upcoming LNG projects in the regasification segment are in the approval stage and are expected to start operations from 2024 to 2028. Construction and feasibility account for 29% and 25% of the projects respectively. • Indonesia leads in terms of upcoming liquefaction capacity with 2.4 mtpa through two projects - West Papua Floating, and AKM Floating. Malaysia is the only other country in the region with an upcoming liquefaction capacity of 2 mtpa through one project- Tiga Floating • China has the highest existing LNG regasification capacity in the region with 6,792 bcf followed by India and Vietnam with 3,857 bcf and 2,089 bcf, respectively. • In Asia, $63.4 billion is expected to be spent on the development of LNG projects that are expected to start operations during 2024 to 2028 • China dominates the regasification segment in terms of project cost ($24.5 billion) followed by Vietnam and India with $9.7 billion and $6.9 billion, respectively The chart below shows the major liquefaction and regasification projects upcoming in Asia to 2028 #LNG #Liquefaction #Regasification #gas #hydrocarbons #energytransition

*** Global Hydrogen Deals & Developments - September Review *** • U.S. Department of Energy Announces $8 Million for Projects to Advance Electrolyzer and Fuel Cell Manufacturing RD&D through National Lab Consortium • Greenzo Energy Bags Green Hydrogen Project For TANGEDCOS's Ennore SEZ Plant • Milestone for the Green Hydrogen Economy: Quest One Opens New Gigahub • Tunisia Unveils Ambitious Strategy to Become a Global Leader in Green Hydrogen Production • PLN Signs Green Hydrogen Agreement with Pupuk Indonesia and ACWA Power to Boost Renewable Energy in Indonesia • McPhy Energy: New Contract for the Supply of Electrolyzers to Produce Green Hydrogen in Central Europe • Phelan Green Energy Celebrates 10 Years of Solar Leadership and Expands Green Hydrogen Projects • Sembcorp Explores Partnership with Bharat Petroleum for Renewables and Green Hydrogen Initiatives • Plug Contracts With BP And Iberdrola Joint Venture To Supply 25MW Of Pem Electrolyzers For Bp’s Castellon Refinery Project In Valencia, Spain • South Africa's Green Hydrogen Projects Secure R800 Billion in Investments by 2024 • Green Mobility On Fuerteventura: H-tec Systems Electrolyzer Provides Green Hydrogen For IR Maxoinversiones • Proposed $1.35 Billion Investment in Southeast Louisiana Would Establish the World's Largest Carbon Negative Renewable Natural Gas / Ultra-Green Hydrogen Facility • Scottish Government Offers Up to £7 Million in Funding for Green Hydrogen Project • HET Hydrogen and Indify Join Forces to Produce Electrolyser Gigawatt-scale Electrolysers • Infener Plans 20-MW Hub For Green Hydrogen In Gengenbach • Scots £45m 'green hydrogen' plant construction yet to begin amid four year wait • Envision Energy partners with the Spanish government and leading industrial companies to develop an integrated green hydrogen net-zero industrial park • RE+ 2024: Sungrow Unleashes Latest Solar, Storage, and Green Hydrogen Solutions, Bridging to a Sustainable Future • BP And Iberdrola Announce Final Investment Decision For Largest Green Hydrogen Plant In Spain • Energy companies partner on green hydrogen production in Finland • Sunfire Builds 100-megawatt-electrolyzer for RWE • Asahi Kasei enters collaboration with De Nora for development and sale of small-scale containerized electrolyzers for hydrogen production • SSE And EET Hydrogen Partner On Green Hydrogen Production Facility In The North West • Horizon to Set up Electrolyser Gigafactory in India • EU offers funds for southern African green hydrogen and renewables projects • Hamburg Green Hydrogen Hub Awards Contract For 100MW Electrolyzer To Siemens Energy • Naturgy And The Instituto Tecnologico De Canarias Launch A Pilot Project To Test A Disruptive Green Hydrogen Production Technology • MOL Started Production in the Largest Capacity Green Hydrogen Plant of the Region • Hygreen Energy to invest $2.2 billion in Spanish green hydrogen projects #greenhydrogen #hydrogen #netzero #energytransition

Fascinating article below explaining how the integration of sustainability targets within EPCM scopes has led the major contractors to embrace Technology and Digital tools. The most prominent of these tools is Artificial intelligence which is playing a vital role in what Chris Ashton, CEO of Worley calls the digital accelerant Interested to see how @ADIPEC has adapted from an oilfield services event into one embracing decarbonisation and the role of digital tools such as AI in its implementation The ADIPEC Exhibition and Conference will be held in Abu Dhabi from 4-7 November #ADIPEC #AI #oil #gas #decarbonisation #energytransition #EPCM

*** BP issues earnings warning as weaker refining margins take their toll *** • Oil and gas giant BP has issued a profit warning ahead of the release of its third-quarter (Q3) results, after announcing weaker margins at its refineries as demand for fuel slows • The slowdown is likely to impact the results by up to $600m (£459.36m), the UK company said on Friday. The company said its Q2 net income was more than $2.8bn • BP’s stock has fallen by more than 10% this year, performing much worse that its immediate rivals. It will reveal its official Q3 results at the end of October #upstream #hydrocarbons #oil #gas

*** Highest Carbon Capture ranked by Country *** • In 2023, the U.S. and Brazil led the way on carbon capture with 60% of all global capacity combined. Although Brazil’s carbon capture comes from one single plant, the U.S. has more individual plants than any other country The chart below ranks countries with the highest levels of carbon capture. Graphic courtesy of Visual Capitalist link here https://lnkd.in/eBzh69UY #carboncapture #ccs #ccsu

*** Current upcoming CCS projects in Oceania *** • By 2030, Oceania is set to achieve a maximum capture capacity of 5.16mtpa, of which almost all is still in the pipeline • This is the lowest capture capacity out of any region that has capacity by 2030, highlighting the lack of support and funding for capture projects in Oceania • North America has the greatest capture capacity by 2030, reaching 149mtpa, of which nearly 30mtpa is already active • The Middle East has the second-largest active capacity (3.95tmpa) • Asia has a particularly low capture capacity given it encompasses both India and China, which are two of the largest emitting countries globally. It only has 2.36mtpa more capture capacity than Oceania • There are three main industries within Australia that are currently adopting CCUS technologies, with Liquified Natural Gas contributing the largest share of active CCS capacity. All three industries rely on highly energy-intensive processes and hence the adoption of CCS/CCUS will be beneficial as it will enable them to greatly reduce their emissions The chart below shows current and upcoming carbon capture projects in Oceania #CCS #CCUS #oceania #carboncapture #energytransition

*** Major Oil & Gas Deals and Developments - Sept 24 Review *** • #Methanex to acquire methanol business from OCI for $2.05 billion • #ValidusEnergy may acquire Citizen Energy for $2 billion • #APA to sell oil and gas assets in Permian Basin for $950 million • #ViperEnergy to acquire TWR IV and TWR IV SellCo for $461 million • #Transocean to sell Development Driller III and Discoverer Inspiration for $342 million • #PembinaGas Infrastructure to acquire Gold Creek and Karr Area oil batteries from Veren for $294.69 million • #ShelfDrilling to acquire 40% stake in Shelf Drilling North Sea for approximately $243.88 million • #RocOil Plans to acquire #TethysOil for $183.05 million • #AkerSolutions grabs EPCIC contract for topside modifications of Troll Phase 3 - Stage II project in Norway • #Vallourec to supply OCTG for Petrobras’ Sepia 2 and Atapu 2 fields in Brazil • #PETRONAS expands in Abu Dhabi with third concession • #Equinor and #DNO discover oil and gas at wildcat well 35/10-13 S in North Sea • #MaritimeDevelopments gets FEED study from Maersk Supply Service in Brazil • #Petrobras and #Ecopetrol win appeal to continue drilling offshore Colombia • #Worley Oman signs engineering and procurement services agreement for #PDO Projects in Oman • #TotalEnergies commences gas production from Fenix field offshore Argentina • #CNOOC starts production from Liuhua 11-1/4-1 oilfield project • #TechnipFMC grabs substantial contract flexible riser from Petrobras for Pre-Salt Fields in Brazil • #Saipem grabs $2 billion EPCI contract for Saudi Aramco’s Marjan field development in Saudi Arabia • #VarEnergi prepares for Johan Castberg start-up • #BP announces progress in Raven field development amid $700 million investment • #Staatsolie signs production sharing contracts with PetroChina for blocks offshore Suriname • #Pemex increases investment in Bakte field to $1 billion after CNH approval • Uganda to offer new oil exploration licenses next fiscal year • #Orlen discovers oilfield in Western Poland • #ONGC hits gas with potential play opening ultra-deepwater wildcat • Ecuador’s #Petroecuador launches bidding process for offshore gas field • #TrillionEnergy begins production at Akcakoca-3 well in Turkey • #VistaEnergy to invest more than $1 billion in Argentina's Vaca Muerta Shale • #TalosEnergy announces new discovery in the Gulf of Mexico • #IslandDrilling commences 2024 abandonment campaign in Mauritania for Tullow Oil • #KBR wins engineering services contract for Seatrium’s FPSO Projects in Brazil • #Chevron initiates water injection to boost output at two Gulf of Mexico fields • #AkerBP Tyrving field begins oil production ahead of schedule • #Saipem grabs $1 billion EPCI contracts from Saudi Aramco for Zuluf, Safaniyah, and Marjan fields in Saudi Arabia • #NewMed Energy with partners submit $4 billion plan to develop Aphrodite gas field in Cyprus #upstream #midstream #downstream #oil #gas #oilgas #hydrocarbons

*** Decarbonizing & Emission Reduction Targets of Oil & Gas Majors *** • In the IEA Net Zero Emissions by 2050 Scenario, the emissions intensity of oil and gas operations falls by 50% by the end of the decade • The production, transport and processing of oil and gas resulted in 5.1 billion tonnes (Gt) CO2- eq in 2022 • Tackling methane emissions is an important measure that contributes to the overall fall in emissions from oil and gas operations, along with eliminating flaring and electrification • Tackling scope 1 and 2 emissions from oil and gas is comparatively easier than tackling scope 3 emissions in the context of reducing the total GHG emissions from any activity to 2030 • The chart below shows the measure of scope 1 and 2 emissions and decarbonization targets of the major IOCs #netzero #emissions #energytransition #decarbonization #BP #Chevron #ENI #Equinor #exxonmobil #repsol #saudiaramco #shell #sinopec #totalenergies