1. South Africa says shale gas has been discovered in Kalu area
South Africa said on May 18 that shale gas was discovered during drilling in the semi desert Kalu area.
A decade ago, the Kalu field attracted strong interest from companies such as shell, Sasol and Falcon oil & gas. However, due to the environment sensitive areas and the local doubts about drilling activities, the follow-up enthusiasm gradually faded.
In 2015, the U.S. energy information administration estimated that the “recoverable shale gas resources” in the Kalu basin was 390 trillion cubic feet, making it the eighth largest shale gas resource in the world and the second largest in Africa, second only to Algeria.
2. BP is negotiating to sell 28 percent of the UK’s North Sea oil field
BP is in deep talks to sell its 28% stake in shearwater in the North Sea to tailwind energy, an exploration company backed by commodity trader mercuria energy group, and the two companies could reach an agreement in the next few days.
3. Saipem gets onshore drilling contract
Saipem reported on Monday that it has won onshore drilling contracts in the Middle East and South America: two extended contracts in Saudi Arabia and a new onshore drilling contract in Colombia.
Saipem’s onshore drilling Division has received orders worth more than $250 million since early 2021, the company said, adding that this is a positive sign of a gradual recovery in drilling activity after the covid-19 pandemic.
4. Australia will spend $600million in 2023 to build a new gas plant
Australia will spend a $600 million (US $468 million) to build a new natural gas power plant, saying it will help reduce emissions. At present, the country’s aging coal-fired power plants are being shut down, and the pressure on Australian authorities is also increasing. More measures need to be taken to deal with climate change.
Australia is one of the largest fossil fuel exporters and emitters per capita in the world. At present, the international community is exerting more and more pressure on Australia to commit to the rigid goal of net zero emission. Although the country’s main markets, such as China, Japan and South Korea, have shown greater ambitions in tackling climate change, Australia is generally regarded as a laggard in tackling climate change.
5. The UAE’s ADNOC has awarded a $318 million contract to maintain oil production in the Bu hasa oilfield
In a statement on May 18, Abu Dhabi National Oil Co., the largest energy producer in the UAE, said in a statement on May 18, ADNOC signed a three-year, $318million contract with CNPC and Robert Stone to connect new smart drilling to major production facilities in the Bu hasa region, To maintain 650000 barrels per day production capacity of the onshore field.
Bu hasa, 200 km south of Abu Dhabi, is one of the oldest fields in ADNOC and has been exploiting oil since 1965.
6. Norway equinor and Algeria Sonatrach sign Mou
Recently, the Norwegian oil and gas giant equinor and Sonatrach signed a memorandum of understanding (MOU) to study Algeria’s and international cooperation in oil and gas exploration and production. This strengthens the existing partnership between equinor and Sonatrach.
Equinor entered Algeria in 2003 and joined with BP and Sonatrach in the development and production of the country’s two largest natural gas fields.
Algeria approved a new energy law earlier last year to provide incentives for foreign companies to attract investors who had been alienated in previous years because of the unattractive business environment.
7. Shell is negotiating with Nigeria to divest onshore oil
Royal Dutch Shell is in talks with Nigerian authorities to sell its shares in onshore oil fields, Ben van beurden, chief executive of Royal Dutch Shell, said on May 18. The company believes its upstream oil business in Nigeria is not in line with its strategy of becoming a net zero energy business
Post time: May-19-2021