Page 9 - NorthAmOil Week 50 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

DOWNSTREAM Refinery in Rodeo, California, into one of the workflows of the value chain in one software
world’s largest renewable fuels facilities. The platform. Apache sought to partner with an
Phillips 66 announces 2023 conversion will reduce emissions from the organisation that delivers exemplary customer
support and ongoing customer-driven
facility and produce lower carbon-intensity
capital programme transportation fuels. Refining growth capital solution modernisation.
will also support opportunities for high-
Omnira’s commitment to MOSAIC’s
Phillips 66 today announced a 2023 capital return, low-capital projects to improve asset performance, platform flexibility,
programme of $2bn, including $865mn for reliability and market capture. implementation expertise, and client support
sustaining capital and $1.1bn for growth The Marketing and Specialties capital were key aspects of the decision. MOSAIC’s
capital. Approximately 50% of growth capital plan reflects the continued development and intelligent framework will enable timely
supports lower-carbon opportunities. The enhancement of the company’s retail network, access, collaboration and decision support
capital programme is consistent with the including energy transition opportunities. to Apache stakeholders and management
company’s commitment to maintain a $2bn Corporate and Other capital will primarily in crucial decision-making activities and
annual budget through 2024. fund digital transformation and information reserves reporting.
“The 2023 capital programme reflects technology projects. “We expect MOSAIC to play a
our ongoing commitment to capital Phillips 66’s proportionate share of capital significant role in streamlining our reserves
discipline,” said Mark Lashier, President spending by joint ventures Chevron Phillips reconciliation processes and make our
and CEO of Phillips 66. “Through our Chemical Company (CPChem) and WRB business more efficient,” said Mark Bender,
Business Transformation, we are capturing Refining is expected to total $1.1bn and be Apache’s director of reserves.
$200mn of sustaining capital efficiencies self-funded. “Apache is an early visionary, identifying
while prioritising safety and reliability. We PHILLIPS 66, December 09, 2022 the need for a value chain-centric solution to
are also investing in returns-focused growth optimise important workflows and enhance
opportunities, including enhancing our NGL efficiency,” said Francisco Gomez, CEO of
platform and converting our Rodeo facility to SERVICES Omnira Software. “We are excited to be
produce lower-carbon renewable fuels. working with Apache and are confident that
“Additionally, the capital programme Apache selects Omnira MOSAIC’s comprehensive, single solution and
supports our commitment to return $10-12bn unmatched SLA-driven client support will
to shareholders between the second half of Software for reserves support Apache’s requirements.”
2022 and the end of 2024 through a secure, OMNIRA SOFTWARE, December 13, 2022
competitive and growing dividend and share management
repurchases.”
The Midstream capital plan of $639mn Omnira Software, the creator of MOSAIC, MOVES
comprises $329mn for sustaining projects the market leader in providing solutions
and $310mn for growth projects. Growth for reserves management and petroleum Greenfire Resources and
capital will be directed toward enhancing the economics, announces that Apache, a global
company’s integrated NGL value chain from leader in the exploration and production of M3-Brigade Acquisition III
wellhead to market. The Midstream expected oil and natural gas, has selected MOSAIC to
spend includes 100% of DCP Midstream’s modernise its reserve management process. announce $950mn business
sustaining capital of $150mn and $125mn of Based in Houston, Apache explores for and
growth capital. produces oil and natural gas in the US, Egypt, combination
In Refining, Phillips 66 plans to invest and the UK.
$1.1bn, including $389mn for reliability, To standardise and digitalise its workflows Greenfire Resources, a Calgary-based
safety and environmental projects. Refining for economics and reserves management, energy company focused on the sustainable
growth capital of $729mn includes the Apache envisioned a unified, innovative production and development of thermal
continuing conversion of the San Francisco approach to handle multiple and varied energy resources from the Athabasca
region of Alberta, Canada, and M3-Brigade
Acquisition III, a New York Stock Exchange
listed special purpose acquisition company
(MBSC), announced today that they have
entered into a definitive agreement for a
business combination that values Greenfire
at US$950mn. The closing of the business
combination is expected to occur in Q2
2023 and upon closing Greenfire Resources
Ltd (GRL) will become the parent of both
Greenfire and MSBC. GRL is a newly created
corporation incorporated under the laws of
the province of Alberta to participate in the
business combination. Following completion
of the business combination, GRL is expected
to continue to be managed by Greenfire’s
current executive team. The combined

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