Page 8 - DMEA Week 50 2022
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DMEA COMPANIES DMEA
The field is the key focus of Aramco’s gas expan- an initial 40-year period (extendable by a further
sion plans. Output will ramp up to “a sustainable 60 years). Based on this concession, the compa-
rate” of 2 bcf (57 mcm) per day by 2030, pro- ny’s reserves total 198.8bn barrels of crude and
viding feedstock for hydrogen and ammonia condensate, 25.2bn barrels of natural gas liquids
production and helping to meet rising local (NGLs) and 191.6 trillion cubic feet (5.43 trillion
demand. cubic metres) of gas.
Involvement in the Saudi upstream would However, downstream joint ventures (JVs)
be highly political and would require approval are much less contentious, with Aramco already
from the Ministry of Energy (MoE), through involved in refining and petrochemical projects
which Aramco received its concession to with firms including Dow Chemical, Shell, Sino-
develop the Kingdom’s oil and gas reserves for pec, Sumitomo Chemical and TotalEnergies.
BP signs MoU with Egypt for
potential green hydrogen facility
AFRICA BP (UK) has signed a memorandum of under- green and blue hydrogen projects in advantaged
standing (MoU) with Egypt to explore the markets worldwide.
potential for establishing a new green hydrogen BP has a long track record in Egypt, having
production facility in the country. The MoU invested more than $35bn in hydrocarbon pro-
was signed by BP, Egypt’s New and Renewa- jects in the country over tha last 60 years. It oper-
ble Energy Authority, the Egyptian Electricity ates the major West Nile Delta development,
Transmission Company, the General Author- which currently produces around 900mn cubic
ity for Suez Canal Economic Zone and the feet per day of natural gas and 27,000 barrels per
Sovereign Fund of Egypt for Investment and day (bpd) of gas condensate.
Development. The super-major has a strong presence in
Under the terms of the MoU, BP will carry the East Nile Delta through its Pharaonic Petro-
out several studies to evaluate the technical and leum Co. (PhPC) joint venture and other part-
commercial feasibility of developing a mul- nerships. PhPC is a major gas producer, with
ti-phase, large scale green hydrogen export hub current average production of around 450mn
in Egypt. It plans to consider high-potential cubic feet (12.74 mcm) per day as well as around
locations across Egypt as part of the feasibility 10,000 bpd of condensate.
study, targeting best-in-class resources. Together with its partners, BP currently pro-
Egypt’s geographic location at the juncture of duces around 70% of Egypt’s gas.
trade routes between Asia, Europe and Africa is
ideal for putting up large scale green hydrogen
production facilities. Green hydrogen is pro-
duced by the electrolysis of water, powered by
renewable energy.
BP has identified hydrogen as one of its five
energy transition growth engines. Globally, the
company is working on a significant and grow-
ing portfolio of options for the development of The parties signed an MoU in Cairo on December 8 (Photo: BP)
Chariot secures long-term gas
sale deal for Anchois project
AFRICA AFRICA-FOCUSED energy group Chariot said the coast of Morocco.
that it had signed an initial agreement with the According to a statement dated December
Moroccan government covering long-term nat- 12, the deal is a step towards a final and formal
ural gas sales from the Anchois site, located off gas agreement.
P8 www. NEWSBASE .com Week 50 15•December•2022
