Page 13 - MEOG Week 29 2022

MEOG NEWS IN BRIEF MEOG

energy, healthcare etc. expertise in the field of sustainable energy and fuels and circularity,” said Technip Energies
Lamprell had said in June that it faces aligns with our expansion plans and ongoing chief executive Arnaud Pieton.
funding requirements of $75 million over search for new ways to strengthen global “Our collaboration will help to further
the next two months. It had missed an initial partnerships in line with our strategic vision develop local competencies, increase in-
$26.4 million milestone repayment on an $45 of continuous growth.” country value and co-operate to break down
million UAE Export Credit Agency-backed The UAE is stepping up efforts to hit its barriers to engineer a sustainable future.”
revolving trade loan. target to reach net zero emissions by 2050 Under the strategic energy partnership
Thunderball Investments indicated that through a wide-ranging green strategy signed between the UAE and France, the
the core of Lamprell’s business should be focused on a shift to renewable energy and two countries will focus on enhanced energy
maintained in its Hamriyah and Jebel Ali the use of new technology, which will help to security, affordability and decarbonisation,
locations in the UAE. It also intends to reduce carbon emission levels. and progressive climate action before Cop28,
maintain the company’s current headquarters The country plans to invest Dh600 billion which is set to take place in the UAE in 2023,
in the emirates. ($164bn) in clean and renewable energy state news agency Wam reported.
ZAWYA sources over the next three decades to achieve During Sheikh Mohamed’s visit, Abu
its ambitions. Dhabi’s Adnoc also signed a strategic
NPCC, Technip Energies to to capture about 25 per cent of the global partnership agreement with TotalEnergies.
A big focus is on hydrogen. The UAE aims
THE NATIONAL
set up transition JV hydrogen market share and is in discussions
with many countries to export it, Minister of
UAE-based National Petroleum Construction Energy and Infrastructure Suhail Al Mazrouei OIL
Company signed an agreement with French said earlier this year.
engineering technology company Technip Last month, the Abu Dhabi Department Oman boosts oil output
Energies to set up a joint venture that will of Energy also said that it was developing a
focus on energy transition. hydrogen policy with new regulations and nearly 10% in H1
The agreement was signed on Tuesday on standards, and aimed to become a “leader in
the sidelines of President Sheikh Mohamed’s the international hydrogen market” as the Oman’s daily average production of oil
visit to Paris, during which the UAE and demand for the clean fuel grows worldwide. increased to 1.05mn barrels per day (bpd)
France also signed a comprehensive strategic “The new joint venture aims to promote during the first half of 2022, up by 9.7 per
energy partnership. a culture of sustainability and supports the cent in comparison to 954,900 bpd output
Based in Abu Dhabi, the new joint best environmental practices in light of our recorded in the same period of last year.
venture, NT Energies, will support energy government’s commitment to moving toward The sultanate’s total oil production in the
transition in the UAE and the wider Mena clean energy sources,” said NPCC chief first six months of this year grew by nearly
region by providing value-added services in executive Ahmed Al Dhaheri. 10 per cent to 189.55mn barrels compared
the blue and green hydrogen sector, related The venture will also provide onshore to 172.84mn barrels in the same period of
decarbonisation projects and the capture of and offshore oil and gasfield services, 2021, according to the official data released on
carbon dioxide, said NPCC, a subsidiary of building and energy efficiency services, oil Wednesday by National Centre for Statistics
the National Marine Dredging Company. tank installations and repairs, as well as the and Information (NCSI).
NT Energies will also focus on industrial installation, maintenance and manufacture of Of the total production, crude output
projects in the fields of waste-to-energy, alternative energy equipment. jumped by 13.2 per cent year-on-year to
biorefining, biochemistry, as well as other It will also offer oil and gas facilities 150.47mn barrels during the first half of
themes related to the energy transition. consultancy services and engineering 2022 from 132.92mn barrels recorded in the
The move will support “energy transition consultations on alternative energy and same period a year ago. Condensates output,
and decarbonisation in line with the UAE’s research. however, decreased by 2.1 per cent to 39mn
strategy to take positive and effective climate “We are confident that NT Energies will barrels during January – June period this
change actions to ensure a decarbonised be able to rapidly bring to life the energy year.
future”, said Yasser Zaghloul, group chief transition infrastructures that the UAE and Earlier in June, the Minister of Energy and
executive at the National Marine Dredging Mena region require, both domestically and Minerals said that the new discoveries of oil
Company. for exports, particularly in the areas of power reserves by companies operating in Oman will
“This agreement with Technip Energies to gas, blue or green hydrogen and ammonia, help the sultanate increase its daily oil output
opens up new opportunities for sharing [carbon dioxide] management, sustainable between 50,000 – 100,000 bpd over the next

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