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DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA
NewsBase Roundup Global (NRG)
NRG
WELCOME to NewsBase’s Roundup Global (NRG), in which the reader is invited to join our team of international editors, who provide a snapshot of some of the key issues affecting their regional beats. By clicking on the headline link for each section the full text will be available.
AfrOil: Court denies Kavango request
The High Court of Namibia has ruled that the Canadian company Reconnaissance Africa (ReconAfrica) and its local partner, National Petroleum Corp. of Namibia (NAMCOR), may proceed with exploration work at PEL 73, a block in the Kavango basin in the north-eastern part of the country.
The court, led by Justice Thomas Masuku, issued a judgment to this effect on July 29.
AsianOil: Petronas signs Korean CCS deals
Malaysia’s Petronas said on August 2 that it had signed a memorandum of understanding with six South Korean companies that will see them collaborate on carbon dioxide (CO2) capture, transport and storage.
The six companies are Samsung Engineer- ing, Samsung Heavy Industries, SK Earthon, SK Energy, GS Energy and Lotte Chemical.
EurOil: More delays for Denmark’s Tyra
The restart of Denmark’s largest gas field has been delayed for six to nine months, until the final quarter of 2023 or the first quarter of 2024, its operators announced on August 3, in a major setback in the country’s efforts to limit gas imports.
Operator TotalEnergies and its partner Noreco cited global supply chain issues caused by the ripple effect from the coronavirus (COVID- 19) pandemic, which have delayed fabrication work on the field’s process module that has been completed at a shipyard in Batam, Indonesia.
FSUOGM: Russia raises Sakhalin stakes
Russia has raised the stakes in a standoff with Western investors at major oil and gas projects in the Far East, blaming Sakhalin-1 operator ExxonMobil for a collapse in production, and giving Shell and other investors at the Sakhalin-2 project a month to decide whether they want to
keep their stakes.
Oil output at Sakhalin-1 has virtually ceased,
ExxonMobil’s Russian state partner in the pro- ject Rosneft said on August 4, raising the pros- pect that Russia could seize the fields in order to bring operations back on track.
GLNG: BP, Eni form Azule JV
BP (UK) and Eni (Italy) confirmed on August 2 that they had completed the process of establish- ing Azule Energy, a new joint venture that will combine both companies’ upstream, LNG and solar energy assets in Angola.
In a joint statement, BP and Eni noted that Azule Energy’s portfolio would include equity stakes in 16 Angolan oil and gas blocks, includ- ing six exploration blocks, that are believed to contain around 2bn barrels of oil equivalent in net resources.
LatAmOil: Perenco seeks Ecuador pay-out
Perenco (UK/France) has stepped up its efforts to collect a settlement of at least $374.3mn related to a decade-old lawsuit over profit-shar- ing from the government of Ecuador.
On August 1, the company announced in a statement that it had frozen all bank accounts in Luxembourg that Ecuador’s government uses to make payments on certain bond coupons.
MEOG: Iran says oil funds are in place
In MEOG, we looked at Iran’s announcement that a large portion of its planned investment to develop the country’s oil sector is in place.
Speaking on national TV, Oil Minister Javad Owji reiterated that $160bn of investment will be required over the next eight years to enable Iran to complete oil development projects.
NorthAmOil: Freeport to resume operations
A US regulator this week gave approval for Free- port LNG to partially resume operations follow- ing an explosion and a fire in June.
The operator of the 15mn tonne per year facility received consent from the Pipeline and Hazardous Materials Safety Administration (PHMSA), allowing it to return to action in October at almost full capacity, pending the implementation of corrective measures.™
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w w w . N E W S B A S E . c o m Week 32 11•August•2022