Page 9 - AsianOil Week 35 2021

AsianOil SOUTHEAST ASIA AsianOil

hybrid power system, demonstrates Shell’s capa- Shell has shown an increasing interest in
bilities to innovate and deliver safe, reliable and operated projects in Malaysia even as it prepares
sustainable projects, in line with our commit- to divest non-operated interests.
ment to achieve net-zero emissions by 2050 in State-owned Petronas awarded the SK437
step with society.” PSC in July to a consortium led by SSB with an
First production from the field is expected 85% stake and Petros and Petronas each with
in 2023, industry media outlet Argus quoted an 7.5%.
unnamed spokesperson as saying this week. At the same time, Reuters reported that
SSB operates SK318 with a 75% stake, while month that the Anglo-Dutch supermajor had
state-owned Petronas Carigali holds 15% and launched the sale of its 40% and 50% respective
Brunei Energy Exploration owns the remain- stakes in the non-operated Baram Delta EOR
ing 10%. and the SK307 PSCs offshore Malaysia.™

EAST ASIA

CNOOC launches CCS

project in South China Sea

PROJECTS & STATE-OWNED China National Offshore Oil hydrogen production before sending the gas to
COMPANIES Corp. (CNOOC) has launched an offshore car- Shengli Oilfield for injection into 73 oil wells.
bon capture and storage (CCS) project in South The project is projected to sequester 10.68mn
China Sea, the first of its kind in the country. tonnes of CO2 over the next 15 years, while
CNOOC said this week that the project was boosting crude oil production by nearly 3mn
anticipated to reinject as much as 300,000 tonnes tonnes (22mn barrels).
per year (tpy) of carbon dioxide (CO2) into the Sinopec is also investing heavily in the hydro-
Enping 15-1 oilfield. More than 1.46mn tonnes gen space, announcing this week that it intended
of CO2 is expected to be stored at the field, which to spend CNY30bn ($6.28bn) to lift its hydrogen
is located in the Pearl River Mouth Basin. refuelling capacity to 200,000 tpy by 2025.
“The greenhouse gases associated with While China has committed to reaching
Enping 15-1 oilfield development will be sealed peak emissions by 2030 and carbon neutrality
in a saltwater layer at a depth of 80 metres,” the by 2060, Sinopec has set its own goal of reaching
chief engineer of CNOOC’s Shenzhen firm, these targets by 2025 and 2050 respectively.
Zhang Wei, told the official CCTV television “Sinopec will expand forcefully into mak-
channel. ing hydrogen from renewable energy, and
CNOOC is not the only Chinese state major zero in on hydrogen for transportation fuel
with an interest in CCS, however, with state- and using green hydrogen for refining,” Sin-
owned Sinopec having unveiled two new pro- opec’s acting chairman, Ma Yongsheng, said
jects in July. on August 30.
Asia’s largest refiner has begun building While the company produces about 3.5mn
China’s first 1mn tpy CCS project in Shandong tpy of hydrogen from either fossil fuels or as a
Province, with the project slated to come online by-product of industrial processes, Sinopec
later this year. The development will see Qilu wants to produce more than 1mn tonnes of
Petrochemical’s refinery capture the CO2 during green hydrogen between 2021 and 2025.™

Week 35 02•September•2021 www. NEWSBASE .com P9