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Promising Developments in Predator Oil & Gas' Moroccan Operations

Total revised up Mozambique LNG cost amid dispute with EPC contractors TotalEnergies has recently revised up Mozambique LNG export project’s EPC (#engineering, #procurement and construction) cost to about US$ 10 billion while the cost had been initially estimated between US$ 8 billion to US$ 9 billion.   #Mozambique’s government has repeatedly asked Total to restart the country’s LNG project as the #African country wants to take advantage of the current high prices of #LNG and the global shift towards cleaner #energysource. However, the #French major has responded that a decision to restart the #project depended on assurances of #security and #humanrights in the region. In addition, #TotalEnergies wants to have “a clear vision of the #costs of the project after an interruption of more than two years - which must be maintained and not increase”. The operator has revealed that restarting of the Mozambique LNG project is being complicated by disagreements with the project's #contractors over extra costs. “The cost considerations were now the last step before restarting Mozambique LNG as the security situation has stabilized.” According to the Global LNG Database® (1), the 12.88 MMT/Y Mozambique LNG project's #construction started by its main #EPC contractor CCS JV (McDermott International, Ltd, Saipem and Chiyoda Corporation) in 2019 late. The project was 21% complete just before suspension after a March 2021 attack on the town of Palma, on the doorstep of the project. In April 2021, TotalEnergies declared #forcemajeure on the project and has removed all staff from the project’s site. Mozambique LNG project's shareholders are TotalEnergies (26.5%), ENH (15%), Mitsui E&P (20%), ONGC Videsh Ltd (10%), Beas Rovuma Energy (10%), BPRL Ventures (10%) and PTTEP (8.5%). Total expects that Mozambique LNG alongside with its other involved projects i.e. Qatar NFE/NFS, Papua LNG and Rio Grande LNG will start LNG production by 2028. (1) To learn more about Global LNG Database®, visit its introduction page at: https://lnkd.in/dSG73cW To see more posts like this in your feed and stay up-to-date with what is going on in the LNG world, follow Global LNG Info on LinkedIn at https://lnkd.in/e442DdDn #energy #globallngdatabase #lngindustry #lngshipping #gas #liquefaction #facility #constructionindustry #constructionprojects #constructionconsulting #constructionjobs #gasprices #energyindustry #energyinfrastructure #buildingconstruction #africa

More positive news for Vietnam as the country works to continue to expand the role of gas in its economy and reduce the current reliance on coal. While LNG imports will play an important role in that process, it's also critical that Vietnam makes use of all available domestic resources. This $740 million investment from Mitsui & Co., Ltd. will help underpin a project that involves Vietnam Oil & Gas Group, PETROVIETNAM, PetroVietnam Exploration Production Corporation and PTTEP and will include a pipeline that connects to a gas-fired power plant complex. #naturalgas #vietnam #energytransition #decarbonisation #decarbonization

[Asia - Oceania] Oil & Gas News Roundup for Week of April 22 to 28, 2024 Consolidation in Malaysia's Oil & Gas Sector -- TotalEnergies is acquiring a 50% stake in SapuraOMV, an independent gas producer in Malaysia, from Sapura Energy. This deal strengthens TotalEnergies' presence in the region. Potential Collaboration in China -- Aramco is in talks with Hengli Group for a possible stake acquisition in Hengli Petrochemical, a sign of potential collaboration between these major players. Breaking Down the News: TotalEnergies Expands in Asia: French energy giant TotalEnergies is acquiring a 50% stake in Malaysia's SapuraOMV for $530 million. This move strengthens TotalEnergies' position in the Asia-Pacific oil and gas market, particularly in Malaysia. Aramco Eyes China Market: Saudi Aramco is reportedly in discussions with China's Hengli Group regarding a potential 10% stake acquisition in Hengli Petrochemical. This could signal growing collaboration between these energy giants in the Chinese market. Sapura Energy Divests: Sapura Energy has confirmed selling its 50% stake in SapuraOMV to TotalEnergies for $530.3 million. The company may be looking to focus on other areas or reduce debt. Tengiz Field Operations Begin: Chevron announced the successful launch of the Wellhead Pressure Management project at the Tengiz oil field in Kazakhstan by its subsidiary Tengizchevroil LLP. This project is expected to improve efficiency and safety at the field. #Notes: The value of the SapuraOMV deals seems to be very close, suggesting a definitive agreement might have been reached between the parties involved. The acquisition of SapuraOMV by TotalEnergies is expected to be finalized in the latter half of 2024.

#Nigeriaisopenforbusiness🚀 💰 TotalEnergies Sells Nigerian Onshore Oil Assets to Chappal Energies Mauritius Limited for $860 Million! 🚀🚀 TotalEnergies has sold its minority share in a major Nigerian onshore oil joint venture to Mauritius-based Chappal Energies for $860 million, the French energy group said on Wednesday.💰 🌍 Chappal Energies focuses on investments in deep value and distressed brownfield upstream assets in the Niger Delta region. 🛢️ The sale includes an interest in 15 licences producing mostly oil, with production netting Total 14,000 barrels of oil-equivalent per day in 2023. Additionally, three more licences produce mostly gas, currently accounting for 40% of TotalEnergies' Nigeria LNG gas supply.💼 📉 CEO Patrick Pouyanné stated in February that TotalEnergies was looking to exit its 10% stake in the Shell Petroleum Development Company of Nigeria Limited (SPDC), which has struggled with hundreds of oil spills due to theft, sabotage, and operational issues leading to costly repairs and high-profile lawsuits. . . . We had the opportunity to review the National Gas Policy for the Federal Ministry of Petroleum Resources in Nigeria, receiving a commendation letter from the Ministry of Petroleum Resources for our contributions. During this review, we played a key role in developing the framework for domestic LNG usage in Nigeria! This may be the best time to Unlock Nigeria's Oil & Gas Potential with our Proven Expertise!🚀 💡 Why Invest? Largest market in Africa: With a population of over 200 million people.💰 Strategic oil and gas projects accelerating growth: $19 Billion Dangote Refinery, $4 Billion NLNG Train 7 project, $2.5 billion AKK Gas pipeline project. 💰 Tap into unparalleled success with Olufola Wusu, a recognized market entry authority in Nigeria and with oil and gas experience in six other African nations. Specializing in empowering oil and gas firms, my team at Olufola Wusu strategically navigates complex regulations spotting value and helping to avoid risk throughout your market entry voyage. 💰 Our achievements include helping to shape the framework for domestic use of LNG in Nigeria's National Gas Policy. Expert Leadership: Recognized as a top market entry specialist in Nigeria, success in six African countries; Strategic Guidance: Navigate policies, regulations and local nuances seamlessly. 🌐 Opportunity Awaits: Collaborate with Olufola Wusu for streamlined market entry into Nigeria, the largest LNG producer and Africa's prime market with over 200 million people. Our goal is a clear plan for success. #marketentry #Nigeria #Lagos #lawyers #Nigeriaisopenforbusiness #RegulatoryImpact #oilandgas #LNG #Gas #NigeriaInvestment #InvestmentOpportunities #OilandGas

Sarawak Invests Over RM10 Bln To Develop Bintulu As Sour Gas Hub BINTULU, Sept 21 (Bernama) -- Sarawak Premier Tan Sri Abang Johari Tun Openg said today the state is investing more than RM10 billion to make Bintulu a sour gas hub with the development of the Sarawak Integrated Sour Gas Evacuation System (SISGES) in Tanjung Kidurong. He said the development within Petrochemical Industrial Park (PIP) would align well with Sarawak’s ambitions to attain developed state status by 2030. “Sour gas used to be considered as not profitable to develop as the processes were expensive but new technology has reduced cost considerably,” he said at the groundbreaking ceremony for Phase One of the SISGES sour gas hub for Shell’s Rosmari-Marjoram Bintulu Onshore Gas Plant in Tanjung Kidurong. Abang Johari is optimistic that Sarawak’s continental shelf subsea still has huge gas reserves despite early prediction in the early 1990s that Sarawak’s gas could only last for another 20 years. “More than 30 years on, more and more oil and gas fields are discovered offshore Sarawak, the latest being the six fields in five blocks - SK306, SK411, SK313, SK301B and SK315,” he added. He also said the region’s oil and gas industry remains attractive to investors after more than a century ago when oil was found in Miri. He said the setting up of Shell Malaysia Upstream headquarters at Miri Times Square, which he hopes to open soon, is another testament to the confidence and relationship the company has with the Sarawak government. “However, Sarawak’s political stability and sound policies cannot be discounted as the plus factor for investors like Shell to come to Sarawak to grow their business. If Shell makes money, Sarawak will also make money because we charge sales and service tax (SST),” said the premier. “Since 2019, Sarawak’s income through SST amounted to RM13 billion instead of the mere 5 per cent royalty that we used to receive for our oil and gas,” he added. Sarawak is committed to working collaboratively with Shell and Petronas to ensure the success of Rosmari-Marjoram and SISGES sour gas hub initiatives, and the state looks forward to more collaborations between Shell and the region’s oil and gas entity Petros. Besides oil and gas, Abang Johari said Sarawak is also keen on the carbon capture, utilisation and storage (CCUS) space where three reservoirs have been identified offshore the region. He said planning is on the card to facilitate the development of the reservoirs that should position Sarawak at the forefront of CCUS in the region as they come into operation before the end of the decade. -- BERNAMA *photo Unit Komunikasi Awam Sarawak - UKAS

What happen to the contaminants(mercury/heavy metals, H2S, Co2, sulphur, etc)? Dispose onshore Bintulu. Would it be better to dispose offshore away from the residents?

#LNG #EnergySecurity #Mozambique🇲🇿 As part of it's 2024 drive to diversify assets outside the UAE🇦🇪, #ADNOC (Abu Dhabi National Oil Company) is on a buying spree. Latest addition being the purchase of 10% stake in #Area4 Offshore Mozambique from #GALP. 10% stake gives equal participation as #KGC (Korean Gas Corporation) and #ENH (Empresa Nacional de Hidrocarbonetos, Mozambique's national oil company) in the #Area4 Exploration and Production Concession #Contract📜 with the rest of the 70% with the Operator #MRV (Mozambique Rovuma Venture = #JV composed of #Eni, #ExxonMobil & #CNPC) #Area4 Highlights: > #CoralSul #FLNG (Operating since 2022) > #CoralNorth #FLNG (#FID in 2024/2025) > Rovuma LNG Onshore Plant (#FID in 2024/25) > LNG production (from #CoralSul) =🔼 3.4 MT/Yr > #Area4 Reservoir = 450 billion cubic meters of gas

Seal of approval for UK oil & gas firm to expand its stake in Angolan offshore blocks   UK-headquartered and AIM-listed company Afentra plc – through its wholly-owned subsidiary, Afentra (Angola) Ltd – has received the Angolan government’s blessing to boost its interest in two blocks off the coast of Angola. 🔽 Find more info in comments below 🔽 #UKOilandGas #AfentraPlc #AngolanOffshoreBlocks #AIMListed #AfentraAngolaLtd #CleanEnergy #OilandGasNews ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

The African Energy Chamber (AEC) is drawing attention to the promising prospects within Angola’s oil and gas sector. The Chamber emphasizes that oil and gas are central to Angola’s economy, which has undergone “aggressive reform” since 2017. Notably, since 2019, Angola has initiated multiyear licensing rounds for offshore oil and gas exploration and production blocks, inviting foreign companies to participate. This initiative has resulted in the awarding of over 27 blocks to date. The latest round attracted 53 bids for 12 blocks in the Lower Congo and Kwanza basins... Read here: https://lnkd.in/db2ugp2e #Gas #Oil #SouthAfrica