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QatarEnergy has expanded its stakes in offshore Namibia blocks. (Image source: QatarEnergy)

Exploration & Production

QatarEnergy is expanding its international upstream footprint with the acquisition of additional interests in Namibia

QatarEnergy has signed an agreement with TotalEnergies to acquire an additional 5.25% interest in block 2913B (PEL 56) and an additional 4.695% interest in block 2912 (PEL 91), in the Orange Basin, offshore Namibia.

Subject to customary approvals, QatarEnergy’s participating interests in both licenses will increase to 35.25% in block 2913B and 33.025% in block 2912. TotalEnergies (the operator) will hold 45.25% in block 2913B and 42.475% in block 2912. The two blocks are located around 300 km offshore Namibia, in water depths ranging from 2,600 to 3,800 m.

The other partners in the two licenses are Impact Oil & Gas, holding 9.5% in each of the two licenses and the National Petroleum Corporation of Namibia “NAMCOR”, which holds10% in block 2913B and 15% in block 2912.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and CEO of QatarEnergy, said, “We are pleased to expand QatarEnergy’s footprint in Namibia’s upstream sector. This agreement marks another important step in working collaboratively with our partners towards the development of the Venus discovery located on block 2913B.”

The new business unit will leverage NMDC Group’s experiences and capabilities in the logistics and technical services sector. (Image source: NMDC Group)

Industry

NMDC Group (ADX: NMDC), the Abu Dhabi based EPC focusing on the dredging, marine and energy sectors, is broadening its offering with the establishment of a new business unit, NMDC LTS, which will focus on logistics and technical services

Building on NMDC Group’s experiences and capabilities in the logistics and technical services sector, NMDC LTS will own and/or operate NMDC Group’s significant resource pool of marine support craft, technical capabilities, plant and equipment to expand its services to the wider construction and industrial sectors.

Eng. Yasser Zaghloul, CEO of NMDC Group, said, “NMDC LTS will be a trusted platform that gives new partners access to one of the biggest construction logistics and technical services operators in the region and enable them to gain the benefits of efficiency, innovation, and service focused delivery that NMDC Group has built over the decades of success. We look forward to continuing to work with our current partners in this exciting next phase of NMDC Group’s growth, and to take our expertise and offering to new clients and markets.”

Peter Marvin, chief technical & resources officer of NMDC LTS added, “The delivery of EPC projects in the marine sector has unique challenges, requiring innovative solutions to enable the logistics and technical support necessary to build the infrastructure that our customers and partners need for their sustainable growth. Over decades NMDC Group has consistently proven its expertise, capability and capacity in this field delivering maritime and energy infrastructure around the world. NMDC LTS will take these strengths and expand its application to new customers, partners and industrial sectors through value-added collaboration and seeking to translate our extensive capabilities to meet their needs beyond the delivery of infrastructure. NMDC LTS is uniquely positioned to maximise the potential of this diversification into the logistics and technical services sectors.“
NMDC Group’s other business units are NMDC Dredging & Marine, NMDC Energy, NMDC Engineering and NMDC Construction.

This project includes the construction of a 30,000-metric-ton ethylene storage facilities and associated utility infrastructure. (Image source: Adobe Stock)

Petrochemicals

SAMSUNG E&A has been awarded a contract with Ras Laffan Petrochemicals (RLP) for the Qatar RLP Ethylene Storage Plant, to be executed as a joint venture with CTCI of Taiwan

The total contract amount of the project is around US$418mn, with SAMSUNG E&A's share being about US$215mn, and the contract period is estimated to be 34 months. The client, Ras Laffan Petrochemicals, is a joint venture between Qatar Energy, Qatar's state-run energy company, and a subsidiary of Chevron Phillips Chemical Company LLC.

This project includes the construction of a 30,000-metric-ton ethylene storage facilities and associated utility infrastructure at an industrial complex in Ras Laffan, 80 km north of Doha, Qatar's capital. It is located within the same complex as the RLP ethylene project awarded to SAMSUNG E&A and CTCI in 2023 and is currently under execution. Its purpose is to store ethylene during the plant's maintenance and repair periods, ensuring availability in case of an emergency, while allowing flexible handling of ethylene from both upstream and dowonstream suppliers. SAMSUNG E&A is responsible for the engineering, procurement, and construction (EPC) of key equipment, including 30,000 metric ton storage tanks, compressors, and pumps.

The joint venture plans to deliver exceptional schedule management for the client by applying innovative strategies in project execution. This includes a pioneering approach to procurement, with key equipment and materials being purchased before the engineering process is finalised.

Hong Namkoong, president and CEO of SAMSUNG E&A said, “As we have secured a linked order with Ras Laffan Petrochemicals, we will successfully carry out the project based on our performance experience and innovation strategy and strengthen our position in the Qatari market.”

Michael Yang, chairman of CTCI, said, “We appreciate Ras Laffan Petrochemicals’ continued trust in offering this opportunity to our team. We will continue to deliver high-quality engineering and safety management to ensure the project is completed on time and up to standard.”

The new services can help operators benefit from improved well insights, extended asset life, and reduced total cost of operations. (Image source: Halliburton)

Technology

Halliburton has introduced the Intelli suite of diagnostic well intervention wireline logging services, which can help operators benefit from improved well insights, extended asset life, and reduced total cost of operations

The Intelli suite of services can be used separately or as a package. In the latter case, it acquires data in a single run, saving time and costs. The Intelli suite consists of the following services:

The IntelliSat pulsed-neutron logging service provides reservoir insights either in open hole or after a well is completed. It improves recovery with the detection of bypassed pay, and provides spectroscopy and KUTh measurements. The IntelliSat service delivers a more robust and efficient method of reservoir saturation measurement, fluids monitoring, and borehole diagnostics compared to legacy sensors.

The IntelliFlow array production logging service enhances reservoir insights with the incorporation of co-located fluid ID and flow rate sensors. IntelliFlow provides more accurate production profiles, precision phase analysis, and dynamic flow information. The compact design allows for a simpler, more efficient operation.

The IntelliGuard corrosion evaluation service represents the latest generation of high-definition casing inspection technology. It quantifies metal loss in up to seven concentric casings, and pinpoints damage without the need for costly well intervention.

The IntelliScope leak and flow diagnostic service identifies precise leak sources and flow paths vertically and radially behind pipe in a single, continuous pass.

“As customers look to maximise production and improve the efficiency of their wells, our Intelli suite helps improve downhole insights in a highly customisable way. Because each job is unique, we wanted to develop a suite of products that could be used individually, or as an integrated solution, ultimately, delivering a better experience and result for our customers,” said Chris Tevis, vice president of Wireline and Perforating.

The webinar will explore the latest trends in offshore operations. (Image source: AD Ports)

Webinar

The offshore operations landscape is evolving at an unprecedented pace, making it crucial to keep up with advancements in efficiency and sustainability.

Oil Review Middle East is hosting an exclusive webinar on 20 November at 2pm GST, entitled ‘The future of offshore operations: innovation, efficiency and sustainability’. It will bring together industry leaders and experts to explore the latest trends in offshore operations, focusing on groundbreaking innovations that are driving sustainable and efficient practices. One of the highlights will be a presentation on SAFEEN Green—a revolutionary unmanned surface vessel (USV) shaping the future of the offshore industry.

Key highlights:


Offshore trends: expert insights into industry shifts and sustainability influences
Complex challenges: addressing the environmental and resource-focused dynamics shaping operations
AD Ports Group vision: discover how SAFEEN Green is setting new benchmarks for sustainable operations
Innovation in SAFEEN Green: A closer look at the groundbreaking technology behind this transformative USV.
Practical insights: Learn strategies to boost efficiency and encourage responsible practices in offshore work.

Speakers are Erik Tonne, managing director and head of market analysis, Clarksons Platou; Tarek Al Marzooqi, CEO, SAFEEN Subsea, AD Ports Group; and Ronald J Kraft, CTO, Sovereign Global Solutions ME and RC Dock Engineering BV.

Don’t miss out on this opportunity to gain exclusive insights into the future of offshore operations!

Register here 

Lara Sidawi Moore addressing the conference. (Image source: Energy Intelligence)

Energy Transition

The geopolitics and energy transition nexus was the focus of the Energy Intelligence Forum which took place from 25-27 November in London

The Forum provided a platform for energy leaders to debate and shape sustainable solutions to the energy challenges of the 21st century and explore collaborative solutions for industrial decarbonisation. Energy leaders explored the potential impact of industrial policy, geopolitical competition, and Trump’s election on these industries.

The event highlighted the urgent need for innovation in carbon removal technologies to mitigate rising greenhouse gas emissions. Temperatures will rise by 1.5°C in the next 10 to 15 years, according to Dr. Hoesung Lee, the sixth chair of the Intergovernmental Panel on Climate Change (IPCC) and winner of Energy Intelligence’s Energy Economist of the Year. “Global emissions must peak by 2025, but this won’t happen.”

Efforts to decarbonise the industry were a key focus, with hydrogen, electrification, carbon capture, and nuclear are all competing to be the top solution for energy-intensive sectors like steel, chemicals, shipping, and aviation. According to Anne-Laure de Chammard, executive board member at Siemens Energy, there is a still a long way to go on this front. “Sectors with clear targets and incentives are progressing faster than those without clear signals,” she noted, adding that small modular reactors can play a key, timely, role to provide electricity for the expanding demand of data centres around the world. “You can build one in roughly one year.”

BP Plc CEO Murray Auchincloss was hopeful that that onshore wind developments in the US could be accelerated, following promises from the President-Elect to curb regulations.

“We think it [the Trump presidency] is a strong chance to help the US get back to putting construction forward, getting regulatory reform in place, and getting faster permitting and really allowing construction to move forward. That's what we're most hopeful for, because the US has been struggling in that space,” Auchincloss commented.

Darren Woods, chairman & CEO of ExxonMobil, was awarded Energy Intelligence’s 2024 Energy Executive of the Year for leadership in growth and innovation, including the acquisition of Texas-based oil and gas exploration and production company Pioneer, and advancements in carbon capture, hydrogen, and lithium.

TotalEnergies was awarded the 2024 Energy Innovation Award in recognition of its commitment to the energy transition, having invested over US$70bn in low-carbon initiatives since 2015 and ambitiously working to reduce Scope 1, 2, and 3 emissions.

Lara Sidawi Moore, deputy CEO and chairperson of the Executive Committee of Energy Intelligence commented, “Our choices now, we hope, will help to craft a unified framework to provide energy security, stability, and prosperity to future generations. We urgently need greater foresight, collaboration, and determination to help drive the world toward a more sustainable, resilient, and secure energy future.”

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