Page 14 - MEOG Week 03

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supported also by news from Libya, where oil exports were suspended after forces loyal to General Khalifa haftar blocked the export terminals in the Oil Crescent.
The events in Iraq and Libya are lending quite an upside potential to prices in the immediate run.
The Iraqi protests are particularly bullish for prices: field outages are something of a norm in Libya and traders have more or less gotten used to them.
Serious supply disruptions from Iraq, on the other hand, have not happened recently, and therefore have the potential to push prices a lot higher.
bLoomberG
Gas
Eni and ADNOC to
collaborate on CCUS
technologies
Abu Dhabi National Oil Company (ADNOC) and Eni have formed a partnership to develop advanced solutions for the reduction, capture, usage or confinement of CO2 emissions.
The companies today announced the signing of a Memorandum of Understanding (MoU) which will see them explore CCUS processes and technologies.
Through the MoU the parties will be able to explore new high efficiency technologies for carbon capture with consequent
decarbonisation effects on the hydrocarbon chain and also on relevant industrial activities.
“We are pleased to sign this strategic framework agreement with Eni that builds on our successful partnerships across the oil and gas value chain,” said Dr. Sultan Ahmed Al Jaber, CEO of Abu Dhabi National Oil Company.
“We look forward to swiftly developing this framework agreement to another
new mutually beneficial partnership with Eni as the agreement offers significant potential for exciting and sustainable growth opportunities.”
Claudio Descalzi, Eni’s CEO, said, “This MoU further demonstrates Eni’s strong commitment to strengthening our important partnership with ADNOC, such as important actor, and generating positive impact cross our value chain.”
“Both companies will collaborate to pursue new mid-term solutions aimed at leading the current energy transition in line with Eni’s decarbonisation strategy aimed to achieve
net zero emissions in its upstream business
by 2030 and ADNOC’s recently announced sustainability goals.”
GasWorLD
serVICes
SNC-Lavalin awarded contract from by Al Dhafra
SNC-Lavalin announces that it has been
awarded an engineering services contract from Al Dhafra Petroleum, a joint venture company between ADNOC and the Korea National Oil Corporation and GS Energy. This contract win is aligned with SNC-Lavalin’s new strategy moving forward to greater growth and engineering services.
Under the nine-month agreement, SNC- Lavalin will provide front-end engineering and design (FEED) services for the second phase of the haliba field, located in Al Dhafra Petroleum’s concession area.
The project’s aim is to develop surface facilities in an optimized manner to handle long-term production as well as future production prospects near haliba.
The contract scope of work includes verification of the conceptual studies and design, carrying out FEED to develop surface facilities required for processing production from the main plant and its north and south extension areas, execution planning, and designing facilities to handle production from other close-by prospects.
“This contract is aligned with our focus
to leverage our extensive expertise and experience across our comprehensive spectrum of end-to-end services to our clients,” said Craig Muir, President, Resources at SNC-Lavalin.
“We are committed to delivering the highest quality services to our client and help them achieve their objectives. Our teams
will ensure we bring the technical knowhow, agility and innovative solutions that we are known for to this project.”
Al Dhafra Petroleum was established in 2014 as an ADNOC joint venture company with the Korean National Oil Corporation and GS Energy, to explore and develop untapped fields in its concession area by leveraging innovation and an agile operating model to improve efficiency and maximize value.
Its goal is to unlock hydrocarbon resources in the emirate and drive a more profitable upstream business in line with ADNOC’s 2030 Smart Growth Strategy.
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Week 03 22•January•2020