OMV’s Post

“To see such great interest in further #exploration activity is very encouraging. This is important for both employment and value creation, as well as for facilitating #Norway’s role as a stable #energy supplier to #Europe. Last year, I specifically encouraged companies to explore opportunities in the #BarentsSea. This year we are offering more than double the number of production licenses in this region compared to last year’s round... Proving more #gas resources is important for profitability, by increasing the export capacity from this region,” explained Terje Aasland, Norway’s Minister of Energy. The list of companies that have been offered parts in licenses and/or operatorships during #APA2023 includes Shell (1/1), Aker BP ASA (27/17), Concedo (2/0), ConocoPhillips Skandinavia (3/2), DNO Norge AS (14/3), Equinor (39/14), Harbour Energy Norge (1/1), INPEX Idemitsu Norge (5/1), and KUFPEC Norway (2/0). #offshoreexploration #offshoredrilling #oilgas #energy #NCS #oilandgasnews #offshoreenergy #oilandgas #energysecurity

Every sunrise heralds a fresh wave of exhilarating news in the dynamic world of oil and gas, where each day brings forth thrilling developments that leave us on the edge of our seats, eager to witness the next chapter in this captivating saga🛢. In an electrifying revelation during the CERAWeek conference in Houston, Petronas, Malaysia's state energy titan, unveiled its ambitious plans for the future of liquefied natural gas (LNG) production off the coast of Argentina. Curtis Williams, reporting on March 19, captured the fervor as Petronas announced the groundbreaking construction of a floating LNG (FLNG) processing unit, set to revolutionize Argentina's energy landscape by 2027. With the potential to churn out an astounding 9 million metric tons per annum (MTPA) across three state-of-the-art facilities, Petronas is poised to redefine the nation's role in the global LNG market. But that's not all. Teaming up with Argentina's state-controlled energy firm YPF, Petronas is spearheading a transformative onshore LNG venture, igniting excitement with projections of up to 30 MTPA in exports from the South American powerhouse. As anticipation builds for these monumental projects, Petronas sets its sights on capturing 10% of the global LNG market share, promising a thrilling journey ahead for investors and energy enthusiasts alike. And the excitement doesn't end there – with a potential equity stake in LNG Canada's groundbreaking gas-export plant, Petronas is poised to make waves in British Columbia's energy sector, cementing its status as a driving force in the LNG revolution. Buckle up for a ride into the future of energy with Petronas at the helm. Readers are encouraged to visit the website for more detailed information and insights 😄👉 https://lnkd.in/eAEGAp6S

Read the latest Brazil energy news on BNamericas Brazil energy access program expected to require 15mn PV modules, IEMA projects: https://lnkd.in/dua6qEd9 Brazil’s Asgaard Bourbon Navegação submits best offer in Petrobras offshore support tender: https://lnkd.in/dP2PWrNX Brazil closing in on proposal to restructure electric power sector: https://lnkd.in/dR2Fm5Qh What's behind the negotiations between Brazil's govt and Eletrobras?: https://lnkd.in/dQzsXcG6 Brazil will continue to be key investment area for ExxonMobil – CEO: https://lnkd.in/dHSYv3ak Brazil's 3R Petroleum considering divestments: https://lnkd.in/d9DSnDre Etesco Construções E Comércio Ltda wins Petrobras rig tender: https://lnkd.in/dmSfWt9R #energy #oil #oilandgas #electricpower #power #logistics #offshore #solarpower #solar

The decision by Petroineos to close Grangemouth, Scotland's only oil refinery, is a decision by two entities: Jim Ratcliffe's Ineos and its joint venture partner in the ownership of PetroIneos: PetroChina, the publicly listed arm of China National Pertroleum Corporation, the largest state-owned oil and gas corporation in China. This is happening as Mingyang Smart Energy - China's largest offshore wind turbine manufacturer - is one of 10 priority supply chain projects being advanced in Scotland under the Strategic Investment Model (SIM), organised under the auspices of SOWEC and the Scottish Government, among others. So, we have a direct Chinese stake, and involvement in various interlinked ways, in the dilemmas around the "just transition" in Scotland's energy sector and workforce.

Read the latest Brazil energy news on BNamericas: Brazil energy access program expected to require 15mn PV modules, IEMA projects: https://lnkd.in/dua6qEd9 Brazil’s Asgaard Bourbon Navegação submits best offer in Petrobras offshore support tender: https://lnkd.in/dP2PWrNX Brazil closing in on proposal to restructure electric power sector: https://lnkd.in/dR2Fm5Qh What's behind the negotiations between Brazil's govt and Eletrobras?: https://lnkd.in/dQzsXcG6 Brazil will continue to be key investment area for ExxonMobil – CEO: https://lnkd.in/dHSYv3ak Brazil's 3R Petroleum considering divestments: https://lnkd.in/d9DSnDre Etesco Construções E Comércio Ltda wins Petrobras rig tender: https://lnkd.in/dmSfWt9R #energy #oil #oilandgas #electricpower #power #logistics #offshore #solarpower #solar

Exciting News from the Energy Sector! Wintershall Dea and partners TotalEnergies and Pan American Energy have embarked on a significant endeavor: the development drilling at the Fénix field. This project isn't just about extracting resources; it's about fueling Argentina's long-term energy security and economic growth. 🌟 Key Insights: Significant Milestone: Fénix is poised to become Argentina’s largest offshore gas field, reflecting the nation's commitment to sustainable energy development. Economic Impact: The project is expected to play a pivotal role in Argentina's energy landscape for over 15 years, providing stability and growth opportunities. Risk Management Considerations: As with any large-scale project, managing risks effectively is paramount. From operational challenges to regulatory compliance, each aspect requires meticulous attention to detail. 💡 Implications for the Insurance Sector: Ensuring the success of projects like Fénix involves comprehensive risk mitigation strategies. For insurers, understanding the intricacies of energy projects is crucial for providing tailored coverage solutions. Addressing potential risks proactively can safeguard investments and promote sustainable development. 📖 Learn More: Dive deeper into one of Argentina's most significant energy projects.

Austrian oil and gas company OMV announced a #gas discovery in the Norwegian Sea ☝ Located 300 km west of the Norwegian mainland, the deepwater well is positioned at a depth of 1,064 m. The discovery is about 65 km from existing infrastructure, including the Polarled pipeline and the Aasta Hansteen field, potentially allowing for a swift and cost-effective development. OMV (Norge) AS holds a 40% working interest in the license, with Vår Energi ASA and Inpex Idemitsu Norge AS each holding 30% 🤝 This discovery marks important news for Austria's energy needs and is a good example for Austrian/Norwegian business cooperation. #advantageaustrianordics #omv #gas #energy (c) photo OMV Aktiengesellschaft / Kurt Prinz - refinery Schwechat

📢 𝟐𝟏 𝐨𝐢𝐥 & 𝐠𝐚𝐬 𝐟𝐢𝐫𝐦𝐬 𝐬𝐡𝐨𝐰 ‘𝐠𝐫𝐞𝐚𝐭 𝐟𝐚𝐢𝐭𝐡’ 𝐢𝐧 𝐡𝐲𝐝𝐫𝐨𝐜𝐚𝐫𝐛𝐨𝐧 𝐞𝐱𝐩𝐥𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐍𝐨𝐫𝐰𝐞𝐠𝐢𝐚𝐧 𝐰𝐚𝐭𝐞𝐫𝐬 “𝑰𝒕 𝒊𝒔 𝒗𝒆𝒓𝒚 𝒈𝒓𝒂𝒕𝒊𝒇𝒚𝒊𝒏𝒈 𝒕𝒉𝒂𝒕 𝒕𝒉𝒆 𝒄𝒐𝒎𝒑𝒂𝒏𝒊𝒆𝒔 𝒔𝒕𝒊𝒍𝒍 𝒉𝒂𝒗𝒆 𝒈𝒓𝒆𝒂𝒕 𝒇𝒂𝒊𝒕𝒉 𝒊𝒏 𝒕𝒉𝒆 𝒐𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒕𝒉𝒂𝒕 𝒍𝒊𝒆 𝒊𝒏 𝒇𝒖𝒓𝒕𝒉𝒆𝒓 #𝒆𝒙𝒑𝒍𝒐𝒓𝒂𝒕𝒊𝒐𝒏 𝒐𝒏 𝒕𝒉𝒆 𝑵𝒐𝒓𝒘𝒆𝒈𝒊𝒂𝒏 𝑪𝒐𝒏𝒕𝒊𝒏𝒆𝒏𝒕𝒂𝒍 𝑺𝒉𝒆𝒍𝒇. 𝑬𝒙𝒑𝒍𝒐𝒓𝒂𝒕𝒊𝒐𝒏 𝒂𝒏𝒅 𝒏𝒆𝒘 𝒅𝒊𝒔𝒄𝒐𝒗𝒆𝒓𝒊𝒆𝒔 𝒂𝒓𝒆 𝒄𝒓𝒖𝒄𝒊𝒂𝒍 𝒕𝒐 𝒔𝒍𝒐𝒘𝒊𝒏𝒈 𝒕𝒉𝒆 𝒆𝒙𝒑𝒆𝒄𝒕𝒆𝒅 𝒇𝒂𝒍𝒍 𝒊𝒏 #𝒑𝒓𝒐𝒅𝒖𝒄𝒕𝒊𝒐𝒏 𝒊𝒏 𝒕𝒉𝒆 2030𝒔. 𝑻𝒉𝒂𝒕 𝒘𝒆 𝒔𝒖𝒄𝒄𝒆𝒆𝒅 𝒊𝒏 𝒊𝒅𝒆𝒏𝒕𝒊𝒇𝒚𝒊𝒏𝒈 𝒂𝒏𝒅 𝒅𝒆𝒗𝒆𝒍𝒐𝒑𝒊𝒏𝒈 𝒏𝒆𝒘 𝒇𝒊𝒆𝒍𝒅𝒔 𝒊𝒔 𝒏𝒐𝒕 𝒐𝒏𝒍𝒚 𝒊𝒎𝒑𝒐𝒓𝒕𝒂𝒏𝒕 𝒇𝒐𝒓 𝒆𝒎𝒑𝒍𝒐𝒚𝒎𝒆𝒏𝒕, 𝒗𝒂𝒍𝒖𝒆 𝒄𝒓𝒆𝒂𝒕𝒊𝒐𝒏 𝒂𝒏𝒅 𝒈𝒐𝒗𝒆𝒓𝒏𝒎𝒆𝒏𝒕 𝒊𝒏𝒄𝒐𝒎𝒆 𝒉𝒆𝒓𝒆 𝒂𝒕 𝒉𝒐𝒎𝒆. 𝑰𝒕 𝒊𝒔 𝒂𝒍𝒔𝒐 𝒊𝒎𝒑𝒐𝒓𝒕𝒂𝒏𝒕 𝒇𝒐𝒓 #𝒆𝒏𝒆𝒓𝒈𝒚𝒔𝒆𝒄𝒖𝒓𝒊𝒕𝒚 𝒊𝒏 #𝑬𝒖𝒓𝒐𝒑𝒆," highlighted Terje Aasland, Norway’s Minister of Petroleum and Energy. The list of companies that applied for the offered areas includes Shell, Aker BP ASA, Concedo, ConocoPhillips, DNO Norge AS, Equinor, INPEX Idemitsu Norge, Lime Petroleum AS, M Vest Energy AS, OKEA ASA, OMV, Pandion Energy AS, Petrolia Noco AS, PGNiG Upstream Norway AS, Repsol, Source Energy Services, Sval Energi, TotalEnergies, Vår Energi Wellesley Petroleum, and Wintershall Dea, which is now part of Harbour Energy. 📌𝐌𝐨𝐫𝐞 𝐨𝐧 👉 https://buff.ly/3XJgvVv #oilgas #energy #oilandgasnews #offshoreenergy #oilandgas #Norway #NCS #BarentsSea #NorwegianSea #hydrocarbons #drilling Norwegian Offshore Directorate Photo: Illustration; Credit: Morten Berentsen/NOD

📢 𝐑𝐞𝐱’𝐬 𝐋𝐢𝐦𝐞 𝐬𝐩𝐥𝐚𝐬𝐡𝐞𝐬 𝐦𝐢𝐥𝐥𝐢𝐨𝐧𝐬 𝐨𝐧 𝐎𝐊𝐄𝐀’𝐬 𝐬𝐭𝐚𝐤𝐞 𝐢𝐧 𝐑𝐞𝐩𝐬𝐨𝐥’𝐬 𝐍𝐨𝐫𝐭𝐡 𝐒𝐞𝐚 𝐨𝐢𝐥 𝐟𝐢𝐞𝐥𝐝 This #NorthSea field was on a 20-year hiatus after production ground to a halt in 2001 before being put back into operation nearly three years ago. Thanks to a deal with OKEA ASA, which is pursuing an exit strategy from non-core assets to direct its resources toward core ones, Rex International Holding Limited's Lime Petroleum AS is expanding its interest in the #oil field operated by Repsol #offshore #Norway. 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞: https://buff.ly/3TH3J7l #oilgas #energy #offshoreenergy #oilandgas #oilandgasnews #offshoreoilanndgas #rig 📸 Photo: Yme Inspirer rig; Source: Repsol Norge

Vår Energi ASA has today completed the acquisition of Neptune Energy Norge AS with 100% of the shares in Neptune Norway transferred to Vår Energi. 💥 The transaction adds scale, diversification, and further longevity to Vår Energi’s portfolio as we are on track to nearly double our production to ~400 kboped by end-2025. This makes Vår Energi one of the fastest growing E&P companies in the world.  Now we will be a competent and dedicated team of 1,300 employees to deliver on our growth strategy, supported by strong safety performance and a clear path for decarbonisation of our operations to drive long-term growth and profitability.   In addition to Neptune Norway’s complementary assets and highly skilled organisation, the acquisition gives access to the strategically important Snøhvit gas field and Melkøya LNG, the only Barents Sea gas export point.  Together, we are dedicated to delivering high-value barrels from one of the most attractive oil and gas regions in the world with low cost and low emissions!! 🙌 #oilandgas #assetsale#M&A#oneteam #vårenergi#ncs #growth