Page 13 - MEOG Week 49 2021

MEOG NEWS IN BRIEF MEOG

COMPANIES and GE will explore using hydrogen and development of a waste heat recovery facility.
hydrogen-blended fuels for lower-carbon Upon completion of this facility in 2023, the
ADNOC, GE to develop power generation; evaluating introducing innovation will increase the thermal efficiency
of the site by nearly 30%.
ammonia as a fuel to power ADNOC’s GE gas
decarbonisation roadmap turbines; integrating carbon capture solutions of the energy sector in the Gulf Cooperation
GE has contributed to the development
at ADNOC’s power generation facilities;
Abu Dhabi National Oil Company (ADNOC) and joint research and development (R&D) Council (GCC) for over 80 years. Today,
and GE Gas Power today announced a programs to develop innovative solutions GE-built power generation technologies are
joint cooperation initiative to develop a to reduce carbon emissions from gas-based installed in up to 350 sites across the region,
decarbonization roadmap that includes power generation. generating up to half of the GCC’s power.
reducing carbon emissions from gas turbines Joseph Anis, President and CEO of GE ADNOC
used to power ADNOC’s downstream and Gas Power Europe, Middle East, and Africa
industry operations, including at the world- said: “Energy-intensive industries such as oil Tethys’ Oman oil output
scale Ruwais Industrial Complex, in Abu and gas, smelters, petrochemicals, aviation,
Dhabi in the United Arab Emirates (UAE). and others, will play an important role in reaches 334,326 barrels in
This initiative further supports the UAE the UAE’s energy transition. Hydrogen and
Net Zero by 2050 Strategic Initiative and hydrogen-blended fuels, ammonia, and October
strengthens ADNOC’s position as one of carbon capture solutions, offer pathways to
the world’s least carbon-intensive oil and gas near-zero carbon emissions from gas power Tethys Oil’s share of the production, before
producers. generation, without compromising on the government take, from Blocks 3&4 onshore
The announcement follows the recent reliability of electricity supplies – this is the Sultanate of Oman amounted in October
clean power agreement between ADNOC critical for industrial growth. We are honored 2021 to 334,326 barrels of oil, corresponding
and Emirates Water and Electricity Company to work with ADNOC to explore solutions to to 10,785 barrels of oil per day.
(EWEC) and enhances ADNOC’s pathway to decarbonise their gas turbines and thank them Oil production in Oman is currently
decarbonisation while enabling sustainable for their trust in us.” subject to production limitations under
future growth. The announcement is a continuation of the Organisation of Petroleum Exporting
Ahmed Omar Abdulla, Senior Vice ADNOC and GE’s cooperation to enhance the Countries Plus (Opec+) agreement. As a
President, Refining & Petrochemical Asset performance and sustainability of ADNOC’s consequence, production from Blocks 3&4 is
Management, ADNOC said: “ADNOC’s operations. subject to limitations but is likely to fluctuate
initiative with GE reinforces our commitment ADNOC and GE recently enhanced the on a monthly basis, Tethys Oil said in its
to support the UAE’s goal to achieve net efficiency and performance of ADNOC production update for October 2021.
zero carbon emissions by 2050 and our Refining’s General Utilities Plant (GUP) The company further said in its statement
ongoing commitment to decarbonising our in Ruwais, with upgrades to installed GE that the Official Selling Price (OSP) for Oman
operations. This agreement is in line with our gas turbines increasing power output while Export Blend Crude Oil for October 2021
energy transition strategy and underscores utilising the same amount of fuel. Through amounts to $69.38 per barrel.
our commitment to sound environmental this new initiative, The OSP, as published by Sultanate of
stewardship while meeting the needs of the GE helps bring its industry leading Oman’s Ministry of Energy and Minerals, is
world’s growing energy demands. Working hydrogen experience to ADNOC. Globally, the benchmark price for Tethys Oil’s monthly
together with GE to develop sustainable more than a hundred GE gas turbines have oil sales excluding trading and quality
solutions for power generation also furthers operated on fuels that contain hydrogen, adjustments.
our ambitions to progress hydrogen as a accumulating over 8 million operating hours. Tethys Oil, through its wholly-owned
future fuel and will leverage our industry- The GUP provides electricity and water subsidiary Tethys Oil Block 3&4, has a 30
leading capabilities in carbon capture and to the entire Ruwais Industrial Complex. per cent interest in Blocks 3&4. Partners are
storage.” ADNOC is also enhancing the performance Mitsui E&P Middle East BV with 20 per cent
Under the terms of the initiative, ADNOC and sustainability of the GUP with the and the operator CC Energy Development
(Oman branch) holding the remaining 50 per
cent.
Tethys Oil is a Swedish oil company with
a focus on onshore areas with known oil
discoveries.
The company’s core area is the Sultanate of
Oman, where it holds interests in Blocks 3&4,
Block 49, Block 56 and Block 58.
Tethys Oil has net working interest 2P
reserves of 26.9 mmbo and net working
interest 2C Contingent Resources of 13.9
mmbo and had an average oil production
of 11,336 barrels per day from Blocks 3&4
during 2020. The company’s shares are listed
on Nasdaq Stockholm (TETY).
TIMES OF OMAN

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