OGI Magazine Winter 2024 by Emery Hill Media Ltd

INNOVATION Winter 2024

UNPACKING THE MIDDLE EAST’S GEOPOLITICAL CHALLENGES TECH HIGHLIGHT: RADIO REMOTE CONTROLS DEEP DRILLING – A SPECIAL KIND OF TASK

Business Information. Industry Solutions.

Confined Space Inspection Drone System The Scout 137 is an innovative confined-space inspection drone system, especially made for no-man entry. It keeps people safe from working at heights or in hazardous environments, while also offering important efficiency benefits. The Scout Portal, our cloud-based inspection data service, offers full inspection replay and live streaming. You can upload and analyze all inspection data in one place and share it with other stakeholders, allowing distributed teams to make informed decisions sooner.

Unlimited flight time Made for no-man entry Cloud-based data management

Read case study on page 10 or scan QR-code Applus+ performs visual inspection of very large cargo tank for global oil & Gas major using the Scout 137 Drone System

Designed and built in Norway | www.scoutdi.com | sales@scoutdi.com

www.oilandgasinnovation.co.uk

Winter 2024 CEO Matthew Patten Managing Editor Simon Milliere Publishing Director Edward Findlay edward@oilandgasinnovation.co.uk Commercial Director & Advertising Enquiries Nicholas Parker nparker@oilandgasinnovation.co.uk Technical Director and Website Nathan Bedmann admin@oilandgasinnovation.co.uk Office Assistants Janet Elseberg accounts@oilandgasinnovation.co.uk Contributing Journalist Emma Patten Business Development Executives Mylene Patten mylene@oilandgasinnovation.co.uk Augusto Trinidad Jr augusto@oginnovation.co.uk Tim Martens tim@oilandgasinnovation.co.uk Anjel Miller anjel@oginnovation.co.uk

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A NOTE FROM THE EDITOR Unpacking the Middle East’s Geopolitical Challenges

The Middle East, a region historically marked by geopolitical tensions, is currently facing multiple crises, including the Israel-Gaza conflict, Houthi attacks in the Red Sea, and reported Iranian attacks on Pakistan. As the world closely monitors these developments, one key concern arises: the potential impact on oil prices. This article explores how these events may influence oil prices in the short and medium term. The ongoing Israel-Gaza conflict has raised fears of a disruption in the oil supply chain, particularly in the Middle East. The region is home to some of the world’s largest oil-producing nations, and any instability can affect the production and transportation of oil. While Israel itself is not a major oil producer, the proximity of the conflict to key transit routes, such as the Suez Canal, poses a risk of supply disruptions. Any disturbance in these vital waterways could lead to increased transportation costs and potentially impact global oil prices. The Houthi rebel group’s attacks on shipping lanes in the Red Sea, a critical route for oil transportation, raise concerns about the security of maritime trade. The Red Sea is a key passage for oil tankers traveling from the Arabian Gulf to Europe and North America. Heightened tensions in this area may prompt increased insurance costs for shipping companies, leading to higher overall expenses in the oil supply chain. If these attacks persist or escalate, it could contribute to a decrease in oil supply and result in a subsequent upward pressure on prices. Reports of Iranian attacks on Pakistan add another layer of complexity to the Middle East’s geopolitical landscape. Any escalation of conflict in the region may lead to a broader geopolitical crisis, causing uncertainty in the oil market. Investors are likely to react to heightened geopolitical risks by adjusting their portfolios, potentially leading to increased demand for commodities like oil as a safe-haven asset. This increased demand, combined with potential disruptions in the supply chain, could contribute to a spike in oil prices. The interconnectedness of the global economy means that instability in the Middle East has far-reaching consequences. Higher oil prices can translate into increased production costs for businesses and higher prices for consumers, potentially impacting economic growth. Importdependent nations may experience inflationary pressures, and central banks may need to reassess their monetary policies to address the economic fallout. The current crises in the Middle East, including the Israel-Gaza conflict, Houthi attacks in the Red Sea, and reported Iranian attacks on Pakistan, have the potential to impact oil prices in the short and medium term. While the situation remains fluid, the risk of supply disruptions, increased transportation costs, and heightened geopolitical tensions all contribute to a sense of uncertainty in the oil market. Global stakeholders, including governments, businesses, and investors, will need to closely monitor these developments and assess their potential impact on the energy landscape. •

CONTENTS COVER STORIES & SPECIALS Innovative Radio Remote Controls

IMET was founded in 1988 and is today, one of the pioneering companies in the development and manufacturing of industrial safety radio remote controls.

Deep Drilling – A Special Kind of Task

TBT Tiefbohrtechnik – The expert in the manufacturing of Deep Hole Drilling machines for centrifugally cast pipes in the oil and gas industry.

HydraWell Pushing Boundaries as a Pioneering Innovator

In the relentless pursuit of a sustainable future, HydraWell is a pioneer in the energy industry where a successful balance of innovation, environmental stewardship and decarbonisation provide the pillars for growth, sustainability and helping set the pace for the sector.

WORLD INDUSTRY NEWS Europe North America South America Asia Pacific Africa MENA

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MIDSTREAM & PIPELINES The Analysis is as Good as the Sample

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UK Sampling Gauges Ltd has set out on a journey to provide reliable and accurate sampling equipment that, whilst being user and environmentally friendly, also meets with industry standards. The company founder and director Reg Kimonides, master mariner, is an industry expert and is passionate about providing quality equipment that provide true samples time and time again says, “Our aim to provide reliable, safe, operator friendly sampling equipment demanded our ability to design and manufacture. Over the years our company invested in CAD system and CNC machinery to meet the demand and development of testing systems.”

CONTENTS MIDSTREAM & PIPELINES Destec Engineering Continue With Investment to Keep Pace With Customer Demand

Destec Engineering Limited a UK Original Equipment Manufacturer based in Lincolnshire, who have been serving the Energy sector for well over 50 years have ploughed further investment into new equipment and machinery. This year alone has seen the introduction of two new CNC machines along with additional equipment and spares along with an investment in a new tooling system and the recruitment of a dedicated tooling manager to help meet the ever-growing demands of its global customer base.

PROCESSING The Different Thermophysical Properties of Natural Gas and Hydrogen and the Resulting Advantages.

The transition away from fossil natural gas to alternatives presents producers, distributors, and consumers with a whole new set of challenges. In many cases the planned transition involves a stepwise and gradual replacement of fossil gas with hydrogen, whilst making use of the existing infrastructure (distribution networks, metering systems, end-use equipment, etc.). However, the distributed nature of hydrogen injection systems and the very different thermophysical properties of hydrogen present a significant challenge for existing measurement and control systems.

BASF and Stena Recycling Partner in Recycling of Electric Vehicle Batteries in Europe EXPLORATION AND PRODUCTION Subsea7 Awarded Decommissioning Contract in Brazil

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McDermott Awarded Transportation and Installation Contract by ONGC

EVENTS CALENDAR

COVER STORY

Innovative Radio Remote Controls Paving the Way for Safety and Productivity IMET was founded in 1988 and is today, one of the pioneering companies in the development and manufacturing of industrial safety radio remote controls. Today, IMET can boast a very wide and articulated range of products, capable of suiting the majority of requirements inside the industry, the construction, agricultural sectors and many more. In addition to the standards models, which have been designed for the most traditional applications, such as construction cranes, bridge cranes, etc. The company places at the disposal of its customers a staff of technicians that is specialized in the design and creation of customized models of radio remote controls, according to specific requirements.

he complete range of products include from the smallest to the biggest transmitters: RAY, WAVE2 S and L, AXT, ARES2, KRON, ZED, ZEUS2, THOR2, G4S and TITAN. All IMET equipment is entirely designed and assembled in the Sacile plant, in Italy. It is then subjected to a series of intermediate checks and final tests, aimed at guaranteeing maximum reliability and compliance with current product and safety regulations. IMET has, in fact, its own laboratories and a fully equipped anechoic chamber with numerous test options and test instruments. The propensity of the company towards careful planning of its resources, has allowed it to obtain the UNI ENI ISO9001 quality certification since 1998. The remote controls designed by IMET are

devices that are used where it is essential to physically separate the user from the machinery and to control the latter “remotely”, without the aid of a physical connection and using radio waves as a means of transmission. In all these contexts, the IMET product reveals high-reliability, stands-out for its safety, productivity and freedom of movement. IMET introduced recently a new radio remote control range designed and realized in accordance with ATEX and IECEx Directives for environments with potentially explosive atmospheres. As a result of its features, the line can be safely used in areas classified as gas 1 and 2 zones, combustible dust 21 and 22 zones, and mines. Customisation is a proven bonus for IMET: each application is tailored to the

customer’s needs, always in keeping with the relevant legislation. The product and the production process with Notified Quality System by Eurofins Product Testing Italy S.r.l. (NB 0477), EN ISO IEC 80079-34, respect the most recent and highsafety standards. The new ATEX/IECEx version of KRON, ZEUS2 and THOR2 radio remote controls, models already with a consistent presence and proven functionality, allows now to operate in applications which were unthinkable before, where the operator may experiment a cuttingedge technology, together with the explosion proof rating. The KRON model, designed for top performance with extremely small footprint, it is the ideal solution when the application

requires no more than four single-axis joysticks. Equipped with a practical clip for quick coupling to the belt, you will be surprised how easy and effortless it is to use KRON, thanks to the design of its handle, which will make any work situation comfortable. The ZEUS2 model, is a perfect mix of reliability and versatility combined in a single control station. ZEUS2 boasts top features in terms of ergonomics and functionality. Thanks to the compact size of the panel, with a rational distribution of spaces, the transmitter can be easily customised according to specific needs. Suitable for applications requiring up to 6 singleaxis or 2 dual-axis joysticks, it is a masterpiece of technology that will enable you to smoothly supervise any operations. THOR2 is the perfect combination of efficiency, ergonomics and a high degree of customisation. A supreme mix of design and functionality that make it rank at the top of its category even for explosion-proof uses. Up to 9 single-axis joysticks or 4 dual-axis ones on the main panel, with spacious side compartments. Numerous push buttons, toggle or rotary selector potentiometers make THOR2 a perfect choice for machines of any complexity A compact design, light-weight and simplicity of use, allow an excellent freedom of action and precision maneuvers for greater productivity, while ensuring the protection of your operators. The transmitter is powered by a specific rechargeable 3,6V battery, specially realized by IMET that can be used up to 11 hours on a single charge. The batteries can be replaced

surely in hazardous environments. The transmitters suitable for use in potentially explosive environments - such as the petrochemical, off-shore, recycling, chemical, pulverised products, mining, painting system industries - are available in different models and configurations depending on the customer’s requirements and can be coupled to various receiving unit models; in standard

casing if the receiver is located outside an explosion risk area or, alternatively, in an explosion-proof case as appropriate. The radio remote controls in the ATEX version are not only perfectly suited to a variety of applications but also render processes more efficient. Compact design, low weight, easy use and great battery life, offer exceptional freedom of action, precision operations and movements as well as greater productivity, without ever losing sight your operators’ safety. There is also the explosion proof certified receiving units. They are mainly used for systems in duct pipe or with barrier cable glands, and can have applications on the walls such as control panels and signaling. They are built according to European regulations. Today, IMET’s sale network covers 40 countries around the world and can boast a very wide and articulated range of products, capable of suiting the majority of requirements inside industrial automation, forestry & agriculture applications and recycling applications, etc. IMET will continue to be flexible and to respond to new technology challenges and customer needs with products that can go along and adapt themselves quickly. At the same time, IMET will keep its well-known customer oriented attitude, which has been the main company driver and the reason of success. • If you would like to know more about the topics discussed in this article, or about IMET’s solutions, please contact them at: IMET s.r.l. W: www.imetradioremotecontrol.com/en E: info@imet.eu T: +39 0434 7878

COVER STORY

Deep Drilling – A Special Kind of Task TBT Tiefbohrtechnik – The expert in the manufacturing of Deep Hole Drilling machines for centrifugally cast pipes in the oil and gas industry. Counter boring of long centrifugal cast iron pipes is a task that occurs regularly at the Deep Hole Drilling Experts of TBT Tiefbohrtechnik in Dettingen/Erms. Centrifugally cast pipes are used particularly in the petrochemical industry. As a global player and turn-key expert, TBT supplies the deep hole drilling machines and the necessary know-how.

eep hole drilling is not always about drilling “into solid”. The task can also be to improve the quality of existing raw bores, for example centrifugally cast pipes. The bore is irregular in diameter, its surface is heavily scaled and in this condition, it is unusable for many purposes, for example if the pipes are to serve as a pipe system for liquid media. Such applications can be found, among other things, in the petrochemical industry. The stress on the pipes is enormous due to the high temperatures. The only pipe material that can be used is rust- and temperature-resistant steel with a high proportion of chromium and nickel. Furthermore, petroleum experts prescribe pipes with an exact and constant concentricity of diameters. If the pipe wall thickness fluctuates, this would otherwise lead to an uneven distribution of high stresses with the risk of breakage. This requirement leads to centrifugally cast pipes. However, since the crude oil flows through at high pressure, the fluidically unfavourable surface would cause high pressure losses and the accumulation of deposits. An expert who is up to these tasks and challenges can be found in Dettingen/Erms, Swabia.

TBT Tiefbohrtechnik GmbH & Co TBT Tiefbohrtechnik develops large deep

hole drilling machines and has the know-how for exotic applications as well. Centrifugal casting machining is not a new territory for TBT Tiefbohrtechnik. Tool principle with constructive tricks When processing deep hole drilling of centrifugal cast iron pipes, only tools based on BTA/STS technology (STS = Single Tube Technology) are used. The coolant is supplied through the annular channel between the tool and the bore wall. When drilling solidly, the drill head equipped with carbide indexable inserts has a chip mouth through which the coolant flushes the chips out of the machining zone and into the drill pipe. From there they finally reach the chip conveyor. Normally the tool works “headfirst” through the workpiece. Guide strips behind the cutting edges keep it on course so that a straight hole is created. When processing centrifugally cast pipes, however, some rethinking needs to be done. Because the tool is not supposed to create a straight hole. The basic idea of this statement

quickly becomes clear. Pipes are never 100% straight, not even centrifugally cast pipes. In special applications there is a curvature of approximately 1 mm per 1 m of pipe length. To meet the requirement of uniform wall thickness over the entire pipe length, the tool must follow this curvature. In these applications, the principle of drill head guidance is reversed. This then leads to a pulling deep hole drilling process. Since surfaces that are as smooth as possible are desired, a pre-drilling head is required for rough machining and a skiving drilling head for finish machining. A guide system with hard metal strips is used, which are hydraulically supported in the raw hole and compensate for irregularities in the surface. The drill pipe therefore contains hydraulic hoses. This is not a problem for chip removal, because during pulling machining this takes place in the opposite direction through the machined pipe anyway; The usual chipping mouth is missing from this design. The process flow with these special tools looks like this: First, the machine operators clamp the workpiece onto the deep hole drilling machine. The drill pipe is then driven completely through the raw hole in the workpiece and the drill head is mounted. Then the drilling is carried out by pulling until the drill pipe is back in its original position. The subsequent skiving is carried out by pushing in the opposite direction and with the cutting edges first. The depth of cut is only very small in this processing step. At the end of this operation, the drill pipe and the skiving drill head are pulled out of the workpiece again. The cutting edges can be retracted hydraulically and the drill pipe is supported on the guide strips, which are made of plastic in the skiving drill head. This measure prevents withdrawal marks from damaging the surface. Highly alloyed, temperature-resistant materials are normally extremely difficult to machine. On the one hand, the production-related scale crust creates an additional hardness to the cutting plates. On the other hand, the tool must overcome two additional hurdles. Centrifugally cast pipes with a long length are not available in one piece. The manufacturer supplies 3m long raw material that the user welds together. Welding requires a certain degree of precision. The seam must at least cover the area where the chips were removed so that a smooth surface remains after processing. In particular, the hardening of the welds represents a major challenge for the deep hole drilling machine. Thanks to the special and highly durable machine concept, TBT Tiefbohrtechnik can

control this challenge and thereby makes a decisive contribution to process reliability.

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The high level of precision which these machines exhibit while in operation. For the customer, this can be seen in the optimal manufacturing results obtained, enabling them to become a price / quality leader in their commercial markets.

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Keeping close to customers, which allows TBT to recognize their clients’ problems and develop specific solutions for these issues.

Machine concept ensures long tool life Basically, long machining lengths in conjunction with a layer of scale and other material irregularities are bad for tool life. But this doesn’t matter with the machines from TBT Tiefbohrtechnik. The B series and the ML series are deep hole drilling systems designed for high stability. A whole range of design features have the task of dampening vibrations. This includes a machine bed with a special reinforced concrete filling. Other components also received a particularly stable design. The rack for the feed, for example, has helical teeth, also to minimize vibrations. In addition to high stability, the machine also offers optimized handling. Since the pre-drilling is carried out by pulling, the pre-drilling head must be mounted after inserting the drill pipe. Thanks to a specially designed tailstock, this assembly is very easy. The tailstock is accessible from the rear, even the largest tool fits through for assembly. TBT Tiefbohrtechnik customers appreciate this convenience. TBT Tiefbohrtechnik GmbH + Co, a History Founded in 1966 in Dettingen on the Erms, Germany, specialising from the start in the niche competency of “Deep hole drilling”. Thanks to this future-oriented manufacturing technology, the company was able to develop in the critical customer sectors over a relatively short period of time. The strategy of supplying machines, tools and services from a single source proved to be a decisive factor in terms of competitiveness. The fact that the company was able to develop so quickly can be attributed to three criteria for success which lie at the heart of company policy: •

The quality of its products, which benefits customers in terms of high process safety and low risk of failure.

This unique approach, which has proved decisive in terms of competitiveness, has helped TBT Tiefbohrtechnik win, not just in the German market. Demand has grown both from within Europe and even from other continents. TBT Tiefbohrtechnik has reacted to this demand by building a global distribution and service network and now has subsidiaries and representation from the USA to China, in every industrialised country in the world. The reputation which TBT Tiefbohrtechnik enjoys amongst its customers is based, above all else, on their engagement and flexibility as well as their ability to innovate when making client projects a reality. This had led to TBT Tiefbohrtechnik´s position as worldwide market leader in the deep hole drilling sector. The repertoire is rounded off with membership of the Nagel Group, which includes the companies Nagel, Gehring, Kadia and O.erre.pi. This means that TBT Tiefbohrtechnik is also able to offer subsequent processes such as honing of deep holes or grinding of bearings. If you would like to know more about the topics discussed in this article, or about TBT Tiefbohrtechniks solutions, please contact them at: TBT Tiefbohrtechnik W: www.tbt.de E: info@tbt.de T: +49 7123 976-0

COVER STORY

HydraWell Pushing Boundaries as a Pioneering Innovator In the relentless pursuit of a sustainable future, HydraWell is a pioneer in the energy industry where a successful balance of innovation, environmental stewardship and decarbonisation provide the pillars for growth, sustainability and helping set the pace for the sector.

rom the company’s roots in Norway and now with a significant presence in the UK and Malaysia too, adaptable solutions have always been placed consistently at the heart of HydraWell’s ongoing drive to re-think existing well integrity operations. Forming its nucleus is the revolutionary Perf, Wash & Cement (PWC®) technology which provides a nimble, flexible and cost-effective method which is much in demand across a range of applications – from permanent plug and abandonment and slot recovery to restoring annular integrity and casing shoe repair – and in a growing number of sectors. Throughout the company’s history since it was created in 2008, the team has worked extensively to foster cutting edge solutions which keep HydraWell at the forefront of its sector, but this has always been carefully balanced with keeping the key principles of the revolutionary PWC® remediation method consistently at the heart of everything. Traditional, incumbent methods were often associated with high technical risk, high cost of execution and significant carbon emission because of the extensive support required during the delivery phase. The introduction of HydraWell’s PWC® changed all that, and revolutionised the essential process of well abandonment. By also drastically reducing the carbon footprint of well P&A operations, PWC® is not only cheaper and safer but also better for

the environment and represents a step-change in decarbonisation efforts. Technology pioneer During 2010 the company introduced the HydraWash™ cup based, low pressure cement remediation system to the market. The system was designed to replace the high risk, material cost, time consuming alternate methods for getting access to isolate zones of flow potential. Successfully deployed in wells

with poor or no cement across the annulus between casing and formation, the system was adopted quickly with clients recognising the time, cost and efficiency benefits offered by the technology. As the limits of the HydraWash™ system were reached, and with an improved understanding of clients’ needs, a new generation of tools were developed in 2013. The first generation HydraWash system was licensed to others and HydraWell developed and progressed to a more versatile jet-based PWC® system marketed under the HydraHemera™ banner. The second generation PWC® system, HydraHemera™ is deployed across a much wider range of applications targeting multiple annuli in more challenging wellbore environments. The high pressure, technically superior jet-washing tool, cultivated for the same applications as its predecessor, became the solution of choice in single and multiple casing applications, thanks to its enhancements offering heightened efficiency and benefits including the ability to maintain full circulation rate, easier and more predictable operations, less pressure exerted on formation and not relying on “limited entry” to force fluid through all perforations. Delivering a 98% plugging success rate, customers know they are in safe hands with HydraWell. Innovation didn’t stop with remedial wellbore

activities. Developing a method for reliably testing in-situ barriers, squeezing shales and squeezing salts and then isolating the wellbore internally was pioneered by HydraWell in 2015 with the introduction of the annular integrity test (AIT) tool. Post perforating, the integrity of the AIT is verified in blank casing before the cups are positioned across the lower perforated interval. Pressure is applied between the cups to test the integrity of a suspected natural barrier. If the natural barrier is competent i.e. no return is observed from the upper perforations, the natural (formation) barriers are verified. Testing with an AIT can be repeated to confirm the initial test or moved in the wellbore to test a secondary area. Post testing an internal cement plug can be set or the tool can be retrieved depending on the next operational steps to be performed. The digital revolution In response to a drive towards de-risking operations prior to execution, HydraWell with client support, collaborated in the development of a ‘digital twin’ model for barrier remediation and installation in wellbores. Computational Fluid Dynamics (CFD) is a branch of fluid mechanics that uses computational power to perform the complex calculations required to simulate the free-stream flow of fluid and the interaction of that fluid with surfaces as well as in the environment through which it is flowing. In 2016 HydraWell began utilising CFD to simulate fluid flow and pressure dynamics in wellbores specifically within an annulus for remedial barrier placement and verification. The method’s ability to model complex geometries, fluid properties and dynamic conditions generates comprehensive understanding of fluid behaviour within the wellbore environment. In P&A design, barrier placement and verification are critical to decommissioning wellbores ‘in perpetuity’. The use of CFD in a digital twin environment helps in predetermining outcomes, optimising the barrier placement process and ultimately assists in verifying the suitability of the placed barrier. Ensuring effectiveness of the operation and the placed barrier in a virtual environment, replicating actual conditions, allows the

engineer to confirm that an operation delivered as planned will prevent unintended fluid migration between geological formations and the surface. This verification by CFD is a significant advancement over traditional verification methods which involve mainly non-empirical methods. Traditionally barrier testing and subsequent validation by a Technical Authority can sometimes rely on personal observations and subjectivity to determine the effectiveness of a placed barrier. Evolving technology, understanding of the limits of subjective assessment and recognition of a potential knowledge gap in a growing well decommissioning industry, validates the scientific approach to ensuring barriers are designed, installed and verified with confidence. Further innovation A subsequent drive to increasing the operational envelope of PWC®and address more challenges from a growing global customer base gave rise to the HydraTyphon™ PWC® tool which was developed to address more challenging barrier placement applications with a specific focus on larger casing sizes with heavy or high viscosity fluid environments. Simultaneously, and against a backdrop of HydraWell’s 500th plug installation in 2022, HydraCT™ was developed and introduced to the market continuing the unrivalled track record for development and innovation. HydraCT™ facilitates PWC® operations conveyed by coiled tubing or small jointed pipe. As an industry first PWC® system for rigless abandonment, HydraCT™ uses the fluid energy to not only penetrate and remove debris in the annulus space but also as a propellant creating a rotational force downhole which replaces the requirement to rotate the entire workstring from surface. During the cleaning of the casing and annulus, wash fluid is circulated through the coiled tubing to the tool which incorporates a hydraulic brake. As

fluid exits the nozzle head, flow is transformed to RPM downhole. Rotation of the jetting tool facilitates the formation of turbulent vortex flow which cleans the annulus with multidirectional nozzles focusing the high energy jetting force and displacing annulus content with the fresh wash fluid. Specifically designed for low footprint applications the use of HydraCT™ has the potential to cut CO₂ emissions by up to 80% and reduce costs by almost 60% per barrier set in the wellbore. The stride forward HydraCT™ represents in terms of eliminating the need to mobilise a rig to site is considerable and comes from an unstinting desire to do new things. The benefits of the HydraCT™ PWC® system were recently appreciated during the annular isolation and P&A of eleven wellbores on a project in Alaska. The Project needed a more cost-effective method for use in a remote area where rig availability is extremely limited. In a single run per well, HydraCT™ eliminated the need to mobilise a rig to site and cut the requirement to run drill pipe for remediating the annuli without compromising barrier quality or barrier verification – and all in less than 24 hours for each well. With the portfolio remaining firmly focused on achieving optimum results, HydraWell will continue to strike a successful balance of remaining true to its roots whilst pushing boundaries and inventing pioneering technologies that will transform well operations around the world. To find out more of the topics discussed in this article, please contact: HydraWell W: www.hydrawell.com E: sales@hydrawell.com T: +47 51 69 76 00

NEWS - EUROPE Depro AS increases its Long-Term Collaboration with VideoRay LLC

Eni Rovuma Basin and Area 4 Partners Promote Access To Water and Economic Diversification in Metuge and Mecufi Districts in Cabo Delgado

epro AS and VideoRay LLC Combine Technology to Deliver a Seamless Solution for Challenging Offshore Inspection and Maintenance The world’s most powerful and reliable man-portable underwater robot deploys tools from the leading provider of inspection and intervention tools. Depro AS, a leading provider of subsea tooling for the offshore industry, is increasing its long-term collaboration with VideoRay LLC, a leading supplier of portable underwater robots. This agreement underscores the commitment of Depro AS and VideoRay LLC to delivering cutting-edge solutions to the oil & gas and other energy industries on a global scale. VideoRay’s advanced Mission Specialist underwater robots will be fully integrated with Depro’s BLUEROC subsea inspection system and Buddy ROV compact skid, previously used on work class ROV systems. This tight collaboration will ensure that clients have access to the most advanced and reliable underwater inspection and intervention tools available. It will also streamline Depro’s reaction to client requests, resulting in increased efficiency and reduced lead times.

ni Rovuma Basin together with Cabo Delgado Government, handed over a community center, 36 solar water pumps and 10 tons of various seeds for food production that will benefit around 5,000 families in the Metuge district. The farmers will now have the opportunity to increase their productivity through the use of improved seeds that will be combined with an effective irrigation process. In the same context, ERB also delivered various agricultural and beekeeping equipment, 8 boreholes and 5 improved latrines to the communities of Muaria, Quitivahulo, Sassalane, Muinde, Sambene, Nanguasse, Metacane and Namarapala, all in the district of Mecufi. These projects will benefit around 9,000 people who will now have greater access to drinking water and sanitation, which will contribute to reduce the spread of diseases caused by the consumption of inappropriate drinking water. These projects are aimed at fostering social cohesion and helping to improve the living conditions and resilience of the communities where we operate by promoting incomegenerating and sustainability activities, as part of the Coral South FLNG project’s sustainability plan and are being implemented in partnership with Unilúrio, AVSI and ADPP.

Color portrait of CEO at Depro AS, Kåre Stokkeland.Kåre Stokkeland, (photo) CEO of Depro AS, commented, “We are excited about the possibilities that this strengthened partnership brings. By integrating VideoRay’s latest ROV technologies into our service offerings, we are elevating the standards for underwater inspection and intervention.”

“Our approach to local development is based on the dual-flag strategy, which underpins the implementation of initiatives aimed at contributing to promoting access to basic needs such as health, education, access to water, sanitation and energy, as well as opportunities for socio-economic development.” said Marica Calabrese, Managing Director of Eni Rovuma Basin.

Chris Gibson, CEO of VideoRay LLC, added, “This collaboration is a testament to our shared commitment to advancing technology in the offshore industry. Together, we are better positioned to address the evolving needs of our clients worldwide. This is a great example of how VideoRay’s Integrator Program is expanding capabilities and enhancing our customers’ experience.”

The projects have been developed by Eni Rovuma Basin also on behalf of Area 4 Partners, namely ExxonMobil, China National Petroleum Corporation (CNPC), Empresa Nacional de Hidrocarbonetos (ENH), Kogas and Galp. •

Both organizations are excited about the advancements and opportunities that lie ahead to collectively deliver highly robust and efficient solutions for deep-water projects to clients around the world. •

FPSO AGOGO Leading the way to a

Zero Emissions FPSO FPSO Agogo is regarded as an industry leading project in terms of low emission design and implementation.

Closed Flare and Hydrocarbon Blanketing | Combined Cycle Power Generation Carbon Capture and Storage | Electrification | Seawater Turbine Generator

Yinson Production is one of the largest independent FPSO leasing companies globally, driven by its excellent project management team, industry-leading safety and uptime performance and leadership position in sustainable FPSO design. Yinson Production's Zero Emission FPSO Concept is paving the way for the decarbonisation of the FPSO industry and aligns with Yinson Group’s Climate Goals to be carbon neutral by 2030 and net zero by 2050. www.yinson.com

NEWS - EUROPE Subsea7 Awarded Contract in North Sea

ubsea7 today announced the award of a sizeable1 extension of an existing frame agreement by bp, for subsea construction, inspection, repair and maintenance services (IRM), across bp’s North Sea assets. This is the agreement’s latest extension since the original frame agreement began in 1998. Under the terms of this two-year extension to the end of 2025, Subsea7 will provide an IRM, survey and light construction vessel, complete with work class and observation class remotely operated underwater vehicles (ROV), capable of performing inspection, survey, intervention, subsea construction and emergency response services. Project management and engineering work will continue to be managed from Subsea7’s office in Aberdeen. Steve Wisely, Senior Vice President for Subsea7 UK & Global Inspection, Repair and Maintenance, said: “We are immensely proud of the safe and effective IRM services we have executed for bp for 25 years across its west of Shetland assets. Supporting bp in what is notably one of the harshest offshore environments, has significantly contributed to the expansive deepwater project delivery expertise that we offer across the globe.” •

series of ammonia powered VLCC’s at Qingdao Beihai. We now have three state-of-the-art VLCC’s on order that are attractively priced and will deliver within 2026. We are also delighted to extend our relationship with our long-standing customer Valero with an order of 2 new Suezmaxes that will enter long term time charters. These two transactions reflect the strength of the Euronav position in the tanker market and the rapid application of our new strategy. We look forward to updating you in detail on our strategy at our upcoming capital market day in Q1 2024.”

Buddy ROV to Subsea Operation in Brazil

he need for reliable, precise, and cost-efficient subsea tools is increasing in Brazil.

Before Christmas, we sent the Buddy ROV system to our customer who will perform inspections of riser and jacket, starting in January 2024. Depro has been manufacturing eTMS for many years. Now we also produce a compact eTMS skid with a VideoRay Defender observation ROV. The smaller observation ROV operates in conjunction with the work class ROV. The system allows the ROV operator to access confined spaces, and a view from a different angle than the larger work class ROV system can perform. This gives the ROV operator much better visual control of operations. VideoRay Defender is the compact observation system, and it has a standard setup with controls and HMI setup that is easy to operate.

Euronav Orders 1 VLCC and 2 Suezmaxes

uronav NV announces that it has lifted the option for one more VLCC at Qingdao Beihai (China) and ordered two Suezmaxes at Daehan Shipbuilding (South Korea). Euronav now has three VLCC’s on order at Qingqdao Beihai following the ordering of two VLCC’s earlier in the year. The purchase price of the third ship is identical to the previous two. The vessel is expected to be delivered in Q4 2026 and will be ready to be powered by a dual-fuel diesel-ammonia engine. Furthermore, Euronav has concluded two newbuilding ice classed Suezmax orders at Daehan Shipbuilding. These two new ships have been long term time chartered to Valero. Delivery of these vessels is expected in April/May 2026 when each of the time charter contracts will begin. • CEO Alexander Saverys said: “We are very happy to extend our

Defender ROV can be equipped with tools, including manipulator. The ROV system and eTMS is fully electrically powered and controlled, all qualified to 2,000m water depth. The ROV system has 200m tether. The Buddy ROV is available for rent or sale. •

Lithuania Acquires More NASAMS Air Defence from KONGSBERG

When managing real pressure is your job…

ongsberg Defence & Aerospace (KONGSBERG) has signed a contract with the government of Lithuania for the delivery of more NASAMS air defence systems. The EUR 200 million (about NOK 2.3 billion) contract will provide Lithuania with the latest technology and increased air defence capabilities. As part of the contract, Lithuania will also modernize parts of the NASAMS equipment the country acquired in 2017. With this modernization, Lithuania will have the most modern and efficient configuration of this advanced air defence system. “We are significantly strengthening Lithuania’s air defence capabilities. The main reason for the decision is that the NASAMS system is already successfully operated by the Lithuanian Armed Forces, so the additional acquisition of NASAMS will not create integration problems,” said Greta Monika Tučkutė, Vice Minister of National Defence. “Expanding its air defence capability with more NASAMS supports Lithuania’s ability to more effectively combat modern air threats and also strengthens the country’s partnership with NATO,” said Eirik Lie, President of Kongsberg Defence & Aerospace. The system consists of Raytheon’s Sentinel radar and three advanced missile variants, as well as KONGSBERG’s Fire Distribution Center (FDC) and multi-missile launchers. “We continue to see growing demand for NASAMS, as Lithuania and other allied nations around the globe look to counter the proliferation of advanced aerial threats,” said Tom Laliberty, president of Land and Air Defense Systems at Raytheon. “With decades of continual technological innovation and a legacy of combat-proven performance, NASAMS will continue to deliver unmatched medium-range air defence for Lithuania. •

EEMUA's MIPC® courses help practitioner-level engineers to be where they are needed – on-site and on top of the industry developments and good practice in the primary containment of hazardous substances, including for pressure systems. Flexible, in-depth training for engineers on-site / on-call, EEMUA’s Mechanical Integrity Practitioner Certificate courses combine: live online classes; 1-1 sessions with expert Tutors; on-demand e-learning; and more – all enhanced by Mentor support and guidance for each Learner throughout.

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Covers: Inspection and Test Techniques; Asset Condition; Equipment Design Elements; Legislative Environment; Reporting; Risk and ALARP; Audit; User Responsibilities and Competencies; Postponement; Feedback; WSE; and more. Adapts to engineering needs of each individual Learner, their company, and their site/s – via a 2-hour Induction... Next MIPC course:

Induction to fit work diaries from February 2024. Learning starts March 2024. Registration open now. For details please contact EEMUA online-learning@eemua.org +44 (0)20 7488 0801 www.eemua.org

NEWS - EUROPE Will Future Building Materials be Made of Recycled Steel From Old Ships and Oil Platforms?

and oil platforms into environmentally friendly building materials without a carbon footprint. The project will solve challenges related to establishing the industry through circular business models, contracts for disposal, decommissioning for upcycling, testing and recertification, environmental and climate documentation for upcycled metal, and production with upcycled metal. The ambition is to solve offshore disposal problems, highlight green initiatives, secure strategic access to steel for Norway in a time of international political unrest, reduce the need for raw material extraction in mines worldwide, and provide the construction and maritime industries with credible and scalable access to low-emission building materials.

ill future building materials be made of recycled steel from old ships and oil platforms? Under the leadership of AF Offshore Decom, a research project can provide the answer. AF Offshore Decom, together with a consortium of several actors, has been awarded a total of 73 million Norwegian kroner from the Research Council for a research and innovation project on the circular economy of maritime metals. Through the Research Council’s “Green Platform” scheme, this is one of nine major research and innovation projects aimed at developing climate- and environmentally friendly solutions in business. The project period is three years. Under the leadership of AF Offshore Decom the consortium will explore how to recycle maritime metal from ships and oil platforms into environmentally friendly building materials without a carbon footprint. The Consortium led by AF Offshore Decom consist of partners from academia, research institutes and authorities as well as key players within finance, shipping, energy, property development, construction, and recycling industries. (Norwegian School of Economics (NHH), Equinor, Green Yards, DNB, LAB Entreprenør, Skanska Stålbabrikken, Bara, Statsbygg (The Norwegian Directorate of Public Construction and Property), Sintef, Oslo Municipality, and Nordic Circles. The project has been awarded a total of 73 million Norwegian kroner from the Research Council for a three-year research and innovation project. Circular economy is the future -AF Offshore Decom has extensive experience in recycling decommissioned offshore installations. In total, approximately 400,000 tons of steel have been recycled, melted down and used for, among other things, reinforcing steel. The ambition of this project is to move from recycling to upcycling, says Johannes Thrane, Director of Sustainability, Communication and Tendering in AF Offshore Decom. In the circular economy, the ideal is “upcycling”. This means that materials or components are maintained at the same or higher value than they had originally. For example, by cutting up steel from a ship and using it for load-bearing structures, sheet piles or other purposes. Environmentally friendly building materials The project aims to upcycle maritime metal from ships

The project has six main activities: • Circular economic assessment of the entire value chain. • Investigate opportunities to adapt disposal contracts for upcycling. • Develop scalable methods for dismantling steel from ships and platforms that enable high upcycling rates. • Develop industrialized production of building products made of maritime metal. • Make it easier for the construction industry to choose upcycled steel. • The starting point for a new industry.

Libra Consortium Announces First Production at Mero Field’s FPSO Sepetiba in Brazilian Pre-Salt

io de Janeiro – Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announces the start of production of the FPSO Sepetiba in the Mero field, offshore Santos Basin in Brazil. The FPSO Sepetiba, also known as Mero-2, has an operational capacity of 12 million cubic meters of natural gas and 180,000 barrels of oil per day and is connected to six production and six injector wells to the field, in the first wave. Technology applied in the construction and operation of the FPSO will increase production efficiency and contribute to emissions reductions. “The FPSO Sepetiba development leverages our world-class partnership with Petrobras and reinforces our presence in one of the most productive fields in Brazil,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. “This project aligns with Shell’s Powering Progress strategy and our commitment to leverage increasingly efficient and competitive developments in our heartlands to provide safe, secure energy supplies today and for decades to come.” The FPSO Sepetiba is located 180 kilometres from the coast of Rio de Janeiro in a water depth of 2,050 meters. Its predecessor, the FPSO Guanabara, also known as Mero-1, announced first production in April of 2022. The consortium plans to receive two more FPSOs by the middle of the decade. Shell’s worldleading Deep Water business comprises two prolific basins in the US and Brazil and an exciting exploration portfolio, with a sustained track record of strong cash generation and operational performance. •

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NEWS - EUROPE Shell Invests in the Sparta Development in the Gulf of Mexico

per day (boe/d) and currently has an estimated, discovered recoverable resource volume of 244 million boe. Sparta will be Shell’s 15th deep-water host in the Gulf of Mexico and is currently scheduled to begin production in 2028. Sparta showcases Shell’s cost-efficient development approach through standardized, simplified host designs, first utilized at the Vito development and later replicated at the Whale development. An enhanced replication of Vito and Whale, Sparta replicates about 95% of Whale’s hull and 85% of Whale’s topsides. “Shell’s latest deep-water development demonstrates the power of replication, driving greater value from our advantaged positions,” said Zoë Yujnovich, Shell’s Integrated Gas & Upstream Director. “This investment decision is aligned with our commitment to pursue the most energy-efficient and competitive projects while supplying safe, secure energy supplies today and for decades to come.”

ouston, Texas - Shell Offshore Inc., a subsidiary of Shell plc, today announced the Final Investment Decision (FID) for Sparta, a deep-water development in the U.S. Gulf of Mexico that represents our competitive approach to simplifying and replicating projects. Owned by Shell Offshore Inc. (51% operator) and Equinor Gulf of Mexico LLC (49%), Sparta is expected to reach a peak production of approximately 90,000 barrels of oil equivalent

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Building on more than 40 years of deep-water expertise, Sparta also marks Shell’s first development in the Gulf of Mexico to produce from reservoirs with pressures up to 20,000 pounds per square inch. The Sparta development will be the first of Shell’s replicable projects to feature all-electric topside compression equipment, significantly reducing greenhouse gas intensity and emissions from our own operations. •

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Blended online learning for all who work on design, specification, commissioning, operation, maintenance, repair or refurbishment of ageing and new underwater energy production equipment. The EEMUA 194 Subsea Engineering Basics course encompasses the distilled know how of the industry captured in the practical, ‘how to’ guidance of EEMUA Publication 194. Course Tutors’ incorporate this industry know how with decades of their own materials corrosion experience – for effective learning with reality built in.

• Blended online learning combines live classes, 1-1 tutorials, session recordings, e-learning and more • Live online classes and 1-1 tutorials provide real-time interaction so that Learners’ correct understanding is assured immediately • In-depth course is structured as manageable sessions over a period of three weeks to fit busy schedules of Subsea engineers • Enables valuable team members to be where they’re needed on-site and using the collected experience of industry to deepen their understanding of real-world subsea engineering • Certification by exam to industry requirements • Adapts to the engineering needs of individual Learners and their companies, through Induction. Registration open .n now ow for the next course. course Induction of 2 hours to fit diaries in March 2024. Learning starts 8 April 2024.

Find out more at www.eemua.org by contacting online-learning@eemua.org or call the EEMUA team on +44 (0) 20 7488 0801

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NEWS - EUROPE Introducing Easy-Laser PLUS™

dd extra power to your XT alignment system – and your team!

Easy-Laser PLUS™ is our new cloud solution, where you: • Collaborate with your maintenance team on job assignments. • Collect all your team’s measurement files in one place for quick overview and analysis. • Copy your measurement data to a new device if your tablet is lost or damaged. • Restore accidentally deleted files on your tablet. • Receive information about the latest software updates. This is just the beginning. Moving forward, Easy-Laser PLUS™ will offer more possibilities that complement your measuring instrument and make it even more powerful. •

Taiwan has a very strict set of regulations for pipeline safety: after a serious accident a few years ago, Taiwan tightened its specifications considerably. The German “Technische Regel für Rohrfernleitungen (TRFL)” and the American “Recommended practice 1130” of the American Petroleum Institute (API RP 1130) served as the basis for the new regulations. The KROHNE system is unique in that it covers both regulations, meaning that all requirements could be met with just one system. The project began with an extensive consultation and testing phase, from which the KROHNE system emerged as the favorite. In various tests, even the smallest leaks up to 3mm in diameter were detected over a distance of more than 143 kilometers/ 89 miles. TÜV Rheinland already accompanied the project during the test phase, as well as in the subsequent phases of installation up to the final acceptance. The final successful certification of the system marks the first time that a complete pipeline safety project has been certified according to the Taiwanese regulations. •

New project for Svenska Kraftnät AF Gruppen’s subsidiary, Kanonaden Entreprenad, was awarded the contract to construct and install two new series compensation stations for Svenska kraftnät. The contract will be carried out in a consortium with Hitachi Energy. Kanonaden’s share of the contract is around SEK 219 million, excluding VAT.

TÜV Rheinland Certifies KROHNE Pipeline Safety Systems in Taiwan

The two series compensation stations will be installed at Olingan SC in Jämtland and Gräsmark SC in Värmland to reinforce the existing CL26 transmission line. Series compensation increases power supply, reduces the risk of outages, and reduces environmental impact. The agreement is a turnkey contract and Kanonaden’s part of the work includes construction, assembly, and installation work. “We are proud of the continued confidence shown in us and cooperation with both Svenska kraftnät and Hitachi Energy. The project is in line with our Swedish civil engineering strategy of focusing on energy and power-related projects,” says Bård Frydenlund, EVP Sweden. •

n behalf of Taiwan’s Formosa Petrochemical Corporation (FPCC), TÜV Rheinland accompanied and successfully certified a project to install safety systems on the company’s pipelines. The PipePatrol safety systems were supplied by KROHNE, represented by local representative Wei Yuang Enterprise Co, Ltd. Four pipelines for different fuel types were equipped, divided into 12 segments.

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NEWS - EUROPE Equinor Sells its Interests in Azerbaijan

Investing in Today’s Energy System – and Tomorrow’s Too

The assets comprise a 7.27% non-operated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the Caspian Sea, 8.71% interest in the Baku-Tbilisi-Ceyhan (BTC) pipeline and 50% in the Karabagh field. SOCAR already holds a 25.0% stake in ACG, a 25.0% stake in BTC via Azerbaijan BTC Limited, and 50% in Karabagh.

bp talks about the energy transition in terms of ‘and, not or’. What does this mean for the oil and gas business?

quinor and SOCAR (State Oil Company of Azerbaijan Republic) have signed an agreement whereby Equinor will divest all its remaining assets in Azerbaijan to SOCAR.

Equinor has been present in Azerbaijan since 1992. ACG, operated by bp, is the largest oilfield in the Azerbaijan sector of the Caspian basin and the BTC pipeline is used to transfer crude oil to the Turkish Mediterranean coast. “Azerbaijan has been an important part of Equinor’s international portfolio over the past 30 years. Together with SOCAR and the other partners in ACG, we have created significant value for the partnership and for the Azerbaijani society. SOCAR is well positioned to create further value from the assets for the longerterm and we have appreciated the close collaboration over the years,” says Philippe Mathieu, Equinor’s executive vice president for international exploration and production. “Equinor is in the process of re-shaping its international oil and gas business, and the divestments in Azerbaijan are in line with our strategy to focus our international portfolio,” says Philippe Mathieu. The closing of the transaction is subject to the satisfaction of certain conditions including all regulatory and contractual approvals. •

p’s oil and gas business is helping to support the energy transition and securing energy for today’s needs. Our senior vice president of projects, Ewan Drummond, explains how

Our approach to the transition is all about balance. Today, oil and gas supplies around 55% of global energy demand1. Weaning the world off its dependence on oil and gas in an orderly way, one that won’t cause the type of shock that we saw with the war in Ukraine, will take time. “We recognize the immediate need to invest in lower carbon energy solutions, and we’re already under way. The world wants and needs a better and more balanced energy system that delivers secure, affordable and lower carbon energy.” At the same time, we recognize the immediate need to invest in lower carbon energy solutions, and we’re already under way. The world wants and needs a better and more balanced energy system that delivers secure, affordable and lower carbon energy. And the transition needs to be orderly. Our oil and gas operations have a fundamental role to play in supporting this transition. We’re increasingly channelling the revenues from this business into lower carbon technologies. Just as importantly, our lower carbon businesses can draw on our know-how in delivering large-scale oil and gas projects. Our priority is to produce the energy the world needs safely, responsibly and efficiently. To deliver that, we’re rethinking the way we produce oil and gas and design our future projects to be as efficient as possible, with lower operational emissions. •

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NEWS - EUROPE ENGIE Signs a Final Agreement with the Belgian Government on the Extension of Tihange 3 and Doel 4 Nuclear Reactors

Siemens Mobility Supplies 75 Mireo Trains for Leipzig and the Surrounding Region

NGIE signed a final agreement with the Belgian government on 13 December to extend operation of the Tihange 3 and Doel 4 nuclear reactors and on all obligations related to nuclear waste. This document confirms and endorses the key principles of the framework agreement signed on 21 July 2023, namely: • the commitment by both parties to implement Flexible LongTerm Operation (Flex LTO), with an estimated investment of between €1.6bn and €2bn, and to use their best efforts to restart the nuclear units at Doel 4 and Tihange 3 as early as November 2025; • the establishment of a legal structure dedicated to the two extended nuclear units, owned equally by the Belgian State and ENGIE; • the business model of the extension with balanced risk allocation, in particular through a Contract for Difference mechanism covering remuneration for electricity generation. The strike price will be based on the actual cost of extending operation of the nuclear units. This cost is not yet known, but will be estimated based on the nuclear safety requirements set out by the Agence Fédérale de Contrôle Nucléaire (“AFCN” – Federal Agency for Nuclear Control). An initial price will thus be set in 2025 and updated in 2028 to reflect the known final cost of the extension, to cover the period up to 2035; • the determination of a fixed amount to cover the future costs related to the treatment of nuclear waste, concerning all ENGIE nuclear facilities in Belgium, for a total of €15bn payable in two instalments depending on the category of waste1; • the removal of restrictions on Electrabel’s non-European assets. The impact of the increase in ENGIE’s commitments in respect of the transfer of nuclear waste provisions on non-recurring net income and on economic net debt was already recognised on 30 June 2023. ENGIE confirms that this agreement does not modify the Group’s medium-term guidance. The final text also sets out the technical and operational conditions for restarting the two units from November 2025, with full guarantees of nuclear safety. The operation of these two reactors and the dismantling work under way on the other units will maintain around 4,000 jobs (direct, indirect and induced) and will require the recruitment of 200 additional employees in the coming months. This agreement remains subject to approval by the European Commission – with consultation currently under way – and to the substantive vote on the legislative amendments. •

• Major order for 75 regional trains: 41 three-car Mireo trains, 18 four-car Mireos, and 16 battery-powered Mireo Plus B trains • MDSB 2025+ project with Leipzig hub • Planned start of operations in December 2026 • Order volume of approximately €500 million • Largest Mireo order to date for Siemens Mobility

iemens Mobility has won an order for the delivery of 75 Mireo trains for the “Central German S-Bahn Network 2025+” (MDSB 2025+) project with an order volume of approximately €500 million. All in all, 41 three-car Mireo trains were ordered by the operators of Die Länderbahn DLB, and 18 four-car Mireo trains as well as 16 two-car battery-powered Mireo Plus B trains by DB Regio AG. Joint commissioning bodies for the overall MDSB 2025+ network are the Zweckverband für den Nahverkehrsraum Leipzig (ZVNL) in cooperation with the special-purpose Saxon transportation associations Verkehrsverbund Mittelsachsen (ZVMS) and Verkehrsverbund Vogtland (ZVV) as well as the Thuringian Ministry of Infrastructure and Agriculture (TMIL) and the Ministry of Infrastructure and Digital Affairs (MID) of the state of Saxony-Anhalt. “The ZVNL and its partners in the Central German S-Bahn network have high expectations for the use of these modern, environmentally friendly vehicles. We are hoping for a high level of acceptance, which will be reflected in rising passenger numbers,” says Kai Emanuel, Chairman of the ZVNL association. “Our Mireo train is a proven success model that contributes to a high level of passenger comfort and satisfaction. We are delighted to have received the order for 75 Mireo trains for the Central German S-Bahn Network. It is our largest Mireo order to date,” said Gerhard Greiter, CEO North East and Eastern Europe at Siemens Mobility. “The Leipzig transport hub is one of the most important in the Central German metropolitan region. With the delivery of the Mireo trains, we are enabling greater flexibility for public transport in Central Germany, higher capacity per train and more comfort for passengers. This order marks a further step towards achieving a transition in rail transport: By offering more space, better equipment and features, and higher operating frequency, rail transport is becoming more and more attractive.” The trains will cover a total of 10.6 million train kilometers a year in the MDSB network, and will operate on the following lines when operations start as planned in 2026: •

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NEWS - EUROPE Aquaterra Energy Lands Platform Repurposing Contract for Trailblazing Project Greensand

Neptune Energy Announces Kyrre Discovery & Confirmed Ofelia Volumes in Gjøa Area

eptune Energy and its partners today announced a new discovery at the Kyrre prospect and confirmed the volumes for the Ofelia appraisal well, both located in the PL 929 licence, close to the Gjøa field in the Norwegian sector of the North Sea. Neptune has completed the Ofelia appraisal well, 35/6-4 ST2, in the Agat formation. The estimated recoverable volume is in the range of 16-33 million barrels of oil equivalent (mmboe).

quaterra Energy, a leader in global offshore energy engineering solutions, has secured a contract with INEOS, one of the world’s largest chemical and oil and gas producers, and emergent Carbon Capture and Storage operator. Aquaterra Energy has been contracted to support with the life extension of an existing offshore platform for CO2 injection as part of the Project Greensand CCS development, offshore Denmark. Greensand is the most mature CO2 storage project in Demark. It aims to store up to 1.5 million tonnes of CO2 per year by 2025, making it a key project in meeting the International Energy Agency’s sustainable development scenario goal of 5,635 megatons of CO2 stored globally per year by 2050. The CO2 will be captured from European emitters and transported to the platform located in the North Sea. It will then be sent underground via the existing offshore platform to be stored permanently in a sandstone reservoir 1,800 meters below the seabed. Awarded through a competitive tender, the contract will see Aquaterra Energy working with INEOS to support the repurposing of the Nini platform for CO2 injection until 2045. Aquaterra Energy will deploy its expertise in offshore platform structural analysis, brownfield engineering and asset life extension to determine the viability of the structure and guide the implementation of any necessary modifications. The Nini platform represents the initial project stage and will serve as the basis for the adaptations of further nearby platforms, in later phases of the project. Commenting on the contract win, James Larnder, Managing Director of Aquaterra Energy, stated: “Project Greensand stands at the forefront of CCS deployment, so this also marks a pivotal moment in our own CCS journey. A key part of Aquaterra Energy’s growth strategy has been leveraging our deep oil and gas expertise to fast-track new offshore energy initiatives and Greensand represents an ideal opportunity for us to continue this. We’re excited about the prospects of further supporting the CCS sector, especially as innovative projects like Greensand come online.” Anne Haase, Renewables Director at Aquaterra Energy, added: “CCS is set to be a game-changer in the global transition to net zero. Over the past few years, we’ve been honing our skills and knowledge to really make a mark in the sector. This project is a fantastic opportunity for us to combine our rich offshore heritage and energy expertise to facilitate large-scale CO2 storage. Being a part of Project Greensand is really exciting – it’s an ambitious project leading the charge in implementing CCS at the speed and scale we need.” •

In addition, the 35/6-4 A side-track was drilled into the overlying Kyrre prospect, resulting in a new gas discovery. Estimated recoverable resources are between 11-19 mmboe of gas, bringing the total recoverable volume from both discoveries to approximately 27-52 mmboe. Neptune Energy’s Managing Director for Norway and the UK, Odin Estensen, said: “Confirming the Ofelia volume as well as making another discovery nearby, further strengthens our understanding of the Greater Gjøa Area which is an important growth hub for the business in Norway. The dual discoveries allow for a potential fast track, low cost, and low carbon development.” Located 23 kilometres north of the Neptune-operated Gjøa platform, Ofelia Agat and Kyrre will be considered for development as tie-backs to Gjøa. Neptune will also evaluate if the company’s oil and gas discovery Gjøa Nord (Hamlet), with estimated recoverable volumes between 8-24 mmboe, can be jointly developed. The Gjøa platform is electrified with power from shore and produces at less than half the average carbon intensity of Norwegian Continental Shelf fields1. Neptune’s Director of Exploration & Development in Norway, Steinar Meland, added: “The reservoir quality in the Kyrre discovery is very good, which allows for high production rates. We are preparing for several other exciting exploration opportunities in the area, such as the Cerisa well early next year.” Wells 35/6-4 ST2 & 35/6-4 A were drilled by the Deepsea Yantai, a semi-submersible rig, owned by CIMC and operated by Odfjell Drilling. • Partners: Neptune Energy (operator, 40%), Wintershall Dea (20%), Pandion Energy (20%), Aker BP (10%), and DNO (10%)

NEWS - EUROPE Thierry Saegeman is Appointed Executive Vice President in charge of Transformation & Geographies of the ENGIE Group

ENGIE Thermal France and then as CEO of Compagnie Nationale du Rhône in charge of hydro-power plant operations, energy management and the development of wind and solar. In 2016, he returned to Belgium as Chief Nuclear Officer, before becoming additionally Country Manager of ENGIE Belgium in 2021. •

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O E

NGIE announces the appointment, of Thierry Saegeman as Executive Vice President of the Group, in charge of Transformation & Geographies. He will report to Catherine MacGregor, CEO of ENGIE, and will be a member of the Group’s Executive Committee. He will succeed to Frank Demaille, who has decided to pursue his career outside of the Group and to devote himself to a new professional project. Thierry Saegeman will keep the responsibility for the Group’s nuclear activities, and in particular the finalization of the LTO project in Belgium. Thierry is a recognized and respected leader in the energy sector. He joined the Group in 1995 and has spent most of his career in Belgium and France. Cedric Osterrieth is appointed CEO of nuclear activities in Belgium, effective as of 1 January 2024. He will take up his operational functions upon completion of his training and accreditation period by the Belgian nuclear safety authorities, and Thierry Saegeman will ensure the continuity of this responsibility during this approval period. Cedric Osterrieth is also appointed CEO of Electrabel. Vincent Verbeke is appointed Country Manager of ENGIE Belgium, effective as of 1 January 2024, in addition to his current responsibilities in the energy management business and as a member of the Executive Committee of GEMS. Catherine MacGregor, Chief Executive Officer of ENGIE, stated: “I am very pleased that Thierry will be joining our Executive Committee. His strategic and operational experience, his exceptional qualities as a negotiator in complex contexts and environments, his ability to build institutional relations at the highest level, as well as his excellent knowledge of our businesses in Europe, will be key assets for our organization. I would also like to warmly thank Frank for his engagement and personal contribution to the transformation of ENGIE. I wish him all the best for the future.” Thierry Saegeman graduated from the University of Ghent in 1994 with a Masters in Electromechanical Engineering, and then with an MBA from the Vlerick School in 1995. He began his career with ENGIE Electrabel in 1995, initially as a Combined Heat and Power Project Manager and then as a Project Developer on renewable energy projects. He then moved to France to pursue his career, first with the ENGIE Group as Managing Director of

sbit, the offshore equipment expert, today launches a game-changing new asset knowledge management and performance insight tool, named Tailwind, to significantly reduce project risk by enhancing offshore mission equipment safety and performance. Tailwind is an innovative software package which has been designed to increase project uptime and reduce costs, all while supporting safe operations. Tailwind achieves this by collating asset data previously distributed across multiple physical and digital locations into one easily navigable system and harnessing its value to drive rapid learning and improvement. The package, which can be integrated into any new, existing, or third-party asset, is constructed from a range of complementary modules. Combining these modules allows for tailored support to drive increased insight on how an asset is performing. Tailwind’s baseline package, named Core, will now be offered as standard with all applicable Osbit systems. The package streamlines data management via an easily navigable repository, storing all documentation in a single searchable location. Manufacturing records, calibration certificates, operating manuals and user uploaded files can all be linked to specific parts and assemblies in the bill of materials. Tailwind also offers highly detailed data access, trend analysis, automated report generation, and fault-finding as part of its Datalogging package. The platform’s Maintenance package reduces the technicians’ record-keeping workload, by automatically scheduling maintenance tasks, and integrating spares requirements from built in stores function. Finally, Tailwind’s Asset Replay package provides real-time hindsight of any event, to support efficient analysis and fault finding. Harnessing the timestamped data from the datalogging module together with video and HMI feeds, users can rewind and fast forward to simultaneously interrogate multiple information streams to improve commissioning effectiveness and reduce diagnostic time. The Tailwind interface has been designed with ease of use and operator ergonomics to make navigating the software straightforward and efficient. The platform can be cloud-hosted, and locally hosted on PCs and tablets to suit varying operational needs. Osbit will be demonstrating the equipment at industry exhibition Offshore Energy 2023, which is taking place between 28th–29th November in the Amsterdam RAI conference centre.

NEWS - EUROPE Energy Outlook 2023 Our Insights Into the Energy Transition in 2050

Repsol Receives the First Ship Carrying Used Cooking Oil for its New Renewable Fuels Plant in Cartagena • The ship unloaded the first 7,500 tons of used cooking oil at the Port of Cartagena. The used cooking oil will be transformed into renewable fuels at the company’s industrial complex. • Repsol will start up Spain’s first advanced biofuels plant in Cartagena in the coming weeks. It will have the capacity to produce 250,000 tons per year and will avoid the emission of 900,000 tons of CO2.

otalEnergies unveiled its Energy Outlook. This document reflects the Company’s determination to contribute to the debate on the issues and challenges surrounding the energy transition. The TotalEnergies Energy Outlook paints a detailed portrait of the Momentum and Rupture scenarios for the global energy system up to 2050 developed by the Company and compares them with a Current Course & Speed scenario in an effort to better assess the impact of the various strategies that will enable the energy transition to be completed by 2050. Faced with the upsurge in the world’s population, TotalEnergies is taking action to meet the three major challenges of the energy transition, i.e. ensure access to the affordable energy necessary for human development, ensure energy security in every country, and decarbonize energy to limit the effects in terms of greenhouse gases. Global indicators over the last 20 years reveal that primary energy demand and emissions from fossil fuel combustion are growing less rapidly than the gross domestic product (GDP). While global GDP grew by an average of 3.3% per year over the 2000-2021 period, CO2 emissions increased by 1.7% per year, and total primary energy demand climbed by 1.8% per year. This decoupling of energy demand from GDP growth has been seen since the early 2000s for oil demand, which grew at the same pace as the population until 2019, and since 2015 for coal. At the same time, renewable energy supplies have increased by an average of 2.6% per year, thereby meeting 40% of the growth in primary energy demand over the last five years. There are still major disparities when it comes to the energy transition. TotalEnergies makes a distinction between three geographical areas: • NZ50 countries: the 40 countries (mainly from the OECD) that have committed to achieving net carbon neutrality by 2050. • China, because the trend in its energy demand is now closer to NZ50 countries. • The Global South, comprising countries from the rest of the world (except for China), which aspire to higher living standards and therefore access to energy. At a time when energy needs in the Global South are rising sharply against the backdrop of surging population growth, the need to achieve climate justice requires support for the energy transition in these countries, by financing the investments needed to develop low-carbon energies and organizing technology transfers and training. •

epsol’s industrial complex in Cartagena has received the first ship with used cooking oil to be used as a raw material in Spain’s first renewable fuels plant. The ship, that has arrived from Huelva in southern Spain, has unloaded 7,500 tons of used cooking oil. Repsol is transforming its industrial complexes into multienergy centers with the capacity to produce fuels with a low or zero carbon footprint. One example is the advanced biofuels plant it has built at its Cartagena facilities, in which it has invested more than 200 million euros, and which will produce 250,000 tons of renewable fuels per year from waste such as used cooking oil. With this project, Repsol advances in its industrial transformation with the use of recycled raw materials to offer its customers 100% renewable fuels. The new advanced biofuels, which can be used in any vehicle -car, truck, ship or airplane- without the need for engine modifications, represent a milestone in the immediate reduction of CO2 emissions in mobility. Renewable fuels are liquid fuels produced from renewable raw materials. They have similar properties to conventional fuels, and are zero net emissions, since the CO2 released during their use is equal to the CO2 that has been previously removed from the atmosphere by the organic raw material. Repsol will receive around 300,000 tons of waste per year at the Port of Cartagena, among which used cooking oil will play a very relevant role. •

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MIDSTREAM & PIPELINES

The Analysis is as Good as the Sample UK Sampling Gauges Ltd has set out on a journey to provide reliable and accurate sampling equipment that, whilst being user and environmentally friendly, also meets with industry standards. The company founder and director Reg Kimonides, master mariner, is an industry expert and is passionate about providing quality equipment that provide true samples time and time again says, “Our aim to provide reliable, safe, operator friendly sampling equipment demanded our ability to design and manufacture. Over the years our company invested in CAD system and CNC machinery to meet the demand and development of testing systems.”

his family run business began back in 1986 with the development of the now famous BTMS (bottom) sampler. The range of bottom samplers are renowned for their ability to obtain liquid samples from the bottom (or a specified distance from the bottom) of a tank or reservoir. Their main use is to detect water underneath oil or fuel and can also be used to take samples from the fuel/ water interface for detecting microbial growth. Since then, the company has designed and manufactured an extensive range of over fifty samplers (universal, running, all-level, spot, self-sealing, sediment) including RVP sampling kits, restricted sampling kits (0.5L and 1L capacity) and open and closed ATEX and IECEx approved sampling kits. The ATEX and IECEx approved kits are suitable for open and closed sampling operations: Open kit includes the MK 1A winder that is supplied with a support leg, depth counter and cable wiper as standard. Closed kit includes one winder and a selection of samplers for closed sampling operations, depending on sampling requirements. •

MK 7 winder suitable for use with 2-inch valves.

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MK 10 winder and MK 12 winder suitable for 4-inch valves.

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MK 14 winder suitable for use with 6 inch valves.

UK Sampling Gauges Ltd pride themselves on outstanding customer service and alongside the design and manufacture of the sampling equipment they also offer equipment servicing and training to better assist oil loss departments.

Above: UKSGL’s range of products of which the details can be found at: www.samplinggauges.com The training sessions can be held at the customer site or at the UKSGL factory using their custom-built pressure/depth simulator station. The training covers general use of the equipment, how to care and clean the equipment after each sampling session and general maintenance.

Kimonides (director) is always happy to visit customers or attend exhibitions to demonstrate the equipment. “It is our pleasure to speak to customers and show our equipment in action. It’s the best way to show exactly how accurate and user friendly UKSGL equipment is’” Says Mr Kimonides.

The impressive pressure/depth simulator station has also been used to demonstrate how UK Sampling Gauges Ltd equipment takes samples by replicating the same conditions/ pressure of tanks in the field. When comparing the results to the conventional type samplers it shows that the UKSGL samplers are not affected by outside pressure. The graphs (left) display the result of the testing. This data is crucial to promote the unique design of the UKSGL equipment that puts them in a league of their own.

The company has created a YouTube channel with various training videos and also a free downloadable app, with Mr Kimonides continuing, “We have a duty of care to our customers and want to support them in every way we can. Our training videos are very comprehensive and walk the user through using various kits. The UKSGL app is much like our website and is our way of making UK Sampling Gauges Ltd more accessible.”

UK Sampling Gauges Ltd equipment is out in the field all around the world! With an impressive array of customers ranging from inspection companies, airports, bulk liquid and storage companies, oil refineries, power stations, shipping, and water companies. ‘We value our customers and like to build working relationships with them to better understand and support their specific sampling needs’. A key part of showcasing the UKSGL equipment is through demonstrations, Reg

For further details about UK Sampling Gauges Ltd or to learn more about the sampling equipment please contact sales@samplinggauges.com or please visit www.samplinggauges.com or download the free UKSGL app (available from app store / or scan the QR code).

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MIDSTREAM & PIPELINES

Destec Engineering Continue With Investment to Keep Pace With Customer Demand Destec Engineering Limited a UK Original Equipment Manufacturer based in Lincolnshire, who have been serving the Energy sector for well over 50 years have ploughed further investment into new equipment and machinery. The last year alone has seen the introduction of two new CNC machines along with additional equipment and spares along with an investment in a new tooling system and the recruitment of a dedicated tooling manager to help meet the ever-growing demands of its global customer base.

he first acquisition was a Mazak Variaxis i-1050T, a 5 axis, simultaneous vertical machining centre designed for large work pieces. This machine is already making Destec’s Clamp Sets, Torque Receptacles, Mounting and Guide plates for the Single Bolt Subsea Connectors (GSB).

which has been on top of significant investment in 2021 (a factory extension and the purchase of a large 5 axis mill - the Correa Norma MG) is all about trying to reduce lead times for our customer’s. These last 2 years have seen an unprecedented demand for our products and services.

Added to the machinery fleet this month is the highly versatile Integrex i-450H another Mazak built for high volume production. The i-450H is already producing metallic seal rings in large quantities to help supply Destec’s many seal customers. This multi-tasking centre will also be producing hub profiles and Desflex Swivel Flanges.

The i-1050T is already showing its value as this is a single set up machine where we can complete GSB clamps sets in one operation. This significantly reduces machining times as we avoid bottle necking waiting for parts to be completed on other stations.

Ben Vincent from Destec Engineering stated:

This is similar, to the i-450H which is a milling and turning centre also for single set up operation.

“Investment in new plant and machinery has been vital to keep up with the requirements of our clients. Within the last year’s investment

This investment will accelerate the productivity through the factory and support our customers worldwide.”

Destec’s products are the most-trusted by the oil and gas industry with their years of experience on the use of high-pressure and high-temperature metal-to-metal static sealing. Their engineers are driven by quality assurance and follow established codes and standards for design modifications. Destec’s on-site machining service uses portable machines to carry out those modifications and re-build on site. With their years of experience on the field and a passion-driven team of engineers, Destec has created a niche for its products and services which are unparalleled in the industry. •

Destec Engineering Ltd. T: +44 (0) 1522 791 721 E: sales@destec.co.uk W: www.destec.co.uk

NEWS - EXPLORATION AND PRODUCTION McDermott Awarded Decommissioning Contract by Santos

cDermott has been awarded a sizeable* engineering, procurement, removal and disposal contract by Santos. The offshore decommissioning award is for the full removal and disposal of the Campbell platform structure, which is part of the Varanus Island Hub offshore infrastructure in Western Australia. Under the contract scope, McDermott will provide project management and engineering services for the removal and transportation of the platform topsides, substructure and associated items to an onshore facility, where it will be dismantled and disposed. “Our successful, proven track record of project delivery spans the entire energy value chain,” said Mahesh Swaminathan, McDermott’s Senior Vice President, Subsea and Floating Facilities. “This decommissioning award reflects the commitment we share with Santos to timely, safe, and environmentally responsible removal of infrastructure at the end of its operational life cycle. We look forward to continuing to be part of delivering their sustainability commitments while also contributing to the circular economy for a lower carbon future. Project management and engineering will be executed by McDermott’s team in Perth, Australia, with support from Batam, Indonesia and Kuala Lumpur, Malaysia. The decommissioning of the Campbell platform is the fourth decommissioning project executed by McDermott in Australia in the last two years. *McDermott defines a sizeable contract as between USD $1 million and USD $50M million. •

Award: Leaders in LGBTQ+ Workplace Inclusion, a distinction recognizing companies that meet or exceed elevated criteria focused on four central pillars: • • • •

Non-discrimination policies across business entities Equitable benefits for LGBTQ+ workers and their families Supporting an inclusive culture Corporate social responsibility

“Chevron is extremely proud to be recognized by the Human Rights Campaign Corporate Equality Index for the 18th consecutive year,” said Josetta Jones, Chevron’s chief diversity and inclusion officer. “We strive to create a workplace where all employees feel safe, heard and respected. While no place can be perfect, it is wonderful to have our efforts validated. Chevron has worked to support its LGBTQ+ community long before it was an industry standard, and we will continue leading the way to a brighter, more inclusive future for all employees.” Chevron has a long-standing legacy of diversity and inclusion in support of its LGBTQ+ workforce. Chevron was the first major U.S. energy company in the oil and gas industry to include sexual orientation and gender identity in our Equal Employment Opportunity policies (1993), the first to offer domestic partner benefits (1998) and to offer fully inclusive transgender wellness benefits (2011). “We have made significant progress in ensuring our employee benefits are inclusive and that our culture fosters a sense of belonging and respect for everyone,” said Marissa Badenhorst, vice president of Health, Safety and Environment and executive sponsor of the PRIDE employee network at Chevron. “We believe that diversity is our strength, and that by supporting our LGBTQ+ employees, we are enhancing our innovation, performance and social impact.” “For well over two decades, businesses have played an important role in furthering LGBTQ+ equality by centering employee needs and voices when it comes to workplace inclusion. While there is much more work to be done, year-over-year growth in CEI participation is evidence of a business community that recognizes the responsibility and value in upholding equity and inclusion,” said RaShawn “Shawnie” Hawkins, senior director of workplace equality for Human Rights Campaign. •

Borr Drilling Limited – Approval of Share Repurchase Program Chevron Earns Top Marks on Corporate Equality Index for 18th Consecutive Year

hevron Corporation (NYSE: CVX) today announced the company received a score of 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI) for the 18th consecutive year. Chevron is among other major U.S. businesses that received a CEI rating of 100 points along with the new Equality 100

he board of directors in Borr Drilling Limited (the “Company”) has today approved a share repurchase program for the Company’s shares, to be purchased in the open market and limited to a total amount of USD 100,000,000. The timing and amount of any shares repurchased will be determined by the company based on its evaluation of market conditions and other factors and as permitted by securities laws and other legal requirements. The authorization does not have a fixed expiration and the repurchase program may be suspended or discontinued at any time. •

NEWS - MIDSTREAM & PIPELINES Factory Tests of Next-Generation Gas Turbine Engine for Gazprom’s Facilities Commence

Innovating for a Sustainable Future: Tubacex’s NT2 Strategy and Carbon Capture Initiatives

actory acceptance tests of the first prototype of the AL-41ST-25 industrial gas turbine engine, which had been created at the request of Gazprom, began today in Ufa at the production site of UEC-UMPO (part of United Engine Corporation affiliated with the Rostec State Corporation). Taking part in the event were Alexey Miller, Chairman of the Gazprom Management Committee, Sergey Chemezov, Director General of the Rostec State Corporation, and Andrey Nazarov, Prime Minister of the Government of the Republic of Bashkortostan. Gas turbine engines are a key component of gas compressor units at compressor stations. This type of equipment is used by Gazprom at natural gas production and transmission facilities. For many years, the Company has been systematically performing technological development of the production complex. In cooperation with domestic manufacturers, Gazprom is developing high-tech and research-intensive equipment. Its implementation allows Gazprom to ensure highly reliable gas supplies to consumers and to further improve the efficiency of Russia’s Unified Gas Supply System. Specially for Gazprom, UEC has developed a new gas turbine engine model АL-41ST-25 on the basis of the most stringent requirements to the efficiency, fuel consumption, time between overhauls, and environmental sustainability. The engine capacity is 25 MW. The model can also be used for the creation of a range of 32 MW and 42 MW drive engines. This offers new prospects for the application of the AL series engines at Gazprom’s facilities. After the manufacturing plant completes the testing, the first prototype of the АL-41ST-25 engine will be installed at the Arskaya compressor station (Gazprom Transgaz Kazan) and undergo pilot tests there. “It is a next-generation engine and the first domestically developed machine ever that has such technical parameters; they are unprecedented in the history of our industry. This means that today we are taking a very large step towards our technological sovereignty in the fuel and energy complex. Gazprom, Rostec and UEC are strategic partners, and the development of this engine is undoubtedly a new milestone in expanding our cooperation. •

t Tubacex, we are committed to driving innovation in line with our NT2 (New Tubacex towards the Next Transition) strategic plan, particularly in the realm of low-carbon technologies. As a global leader in advanced industrial products, we’re proud to highlight our significant strides in the Americas, Europe, and Southeast Asia with our specially engineered Corrosion Resistant Alloy (CRA) alloy-based tubular solutions (OCTG) for CO2 injection processes. Our focus on carbon capture initiatives is not just a business strategy; it’s a commitment to a sustainable future. The process of capturing CO2 from industrial facilities, transporting it safely, utilizing it in various industries, and storing it securely is a complex yet vital component of the net zero goal achievement. With the International Energy Agency (IEA) emphasizing the need for Carbon Capture, Utilization, and Storage (CCUS) to increase over 40 times by 2030 to meet climate goals, Tubacex is at the forefront of this challenge. We understand that without significant advancements in CCUS technologies, the shift away from fossil fuels in power generation and transport will require an unprecedented level of investment and global coordination. Why is CCUS critical? It’s a realistic and necessary approach to netting emissions sectors where complete reduction isn’t feasible, such as heavy industries. It’s also crucial for enhanced oil recovery and creating sustainable industrial processes. Tubacex is not just a participant in this journey; we are a key driver. Our advanced materials, developed specifically for the rigors of carbon capture technology, demonstrate our commitment to innovation and sustainability. The utilization of high specification CRA Materials, provide a secure/trustable solution to safety sequester and store the CO2 without jeopardizing the integrity of sequestration sites. We believe in the power of collaboration and the need for aligned economic incentives and regulatory frameworks to scale CCUS effectively. As we venture into this era of technological advancement and environmental responsibility, Tubacex stands ready to contribute significantly to achieving global climate goals. •

Osbit to Deliver World-First Cable Repair Equipment for N-Sea Osbit, the offshore wind equipment specialist and a Venterra Group company, has been awarded a contract by Netherlands based subsea solutions and cable specialist N-Sea, to deliver a suite of equipment to enable the repair and lay of offshore cables. The system is designed with flexibility in mind, to support multiple cable specifications. Given the need for repeated and rapid deployment, the system is robust and can be easily mobilised and demobilised on various vessels of opportunity. This latest innovation forms part of a wider ‘build phase’ offering within Venterra Group, a strategic partner to wind energy developers and tier one contractors, providing services across the lifecycle of offshore wind assets. The Osbit-supplied equipment consists of a novel dual concentric carousel, a tower with loading arms, and an ergonomic power and control cabin.

of the inner and outer partitions. Its compact design minimises its deck footprint, to accommodate varying vessel configurations and layouts. It is equipped with platforms, ladders, and railings to offer safe and structured personnel access for installation, inspection, and maintenance. The carousel and loading arm will be controlled and monitored from an operator cabin, developed by Osbit’s in-house control and software engineers. The cabin is optimised to suit differing vessels by maximising operational visibility and incorporating monitors to display multiple camera feeds. The control system can also operate other equipment, such as tensioners and deck winches. A wireless control unit will enable the operator to control the equipment from the vessel’s back deck, where required. The system builds upon Osbit’s long-standing track record in cable installation equipment for offshore wind projects, which includes quadrant handling systems, repair spreads, and carousels. •

The carousel, which will be the world’s first DNV approved dual concentric modular system for cable repair, can process two cables simultaneously in a split basket arrangement. These two partitions can be controlled independently to rotate at different speeds ensuring bundled products are laid at the same linear speed, or joined as a larger single basket, to repair or lay AC export cables and inter-array AC cables. The tower and loading arm system will feed products in and out

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The Different Thermophysical Properties of Natural Gas and Hydrogen and the Resulting Advantages. The transition away from fossil natural gas to alternatives presents producers, distributors, and consumers with a whole new set of challenges. In many cases the planned transition involves a stepwise and gradual replacement of fossil gas with hydrogen, whilst making use of the existing infrastructure (distribution networks, metering systems, end-use equipment, etc.). However, the distributed nature of hydrogen injection systems and the very different thermophysical properties of hydrogen present a significant challenge for existing measurement and control systems.

n this article we will briefly discuss four significant topics in the transition to hydrogen: the differences in the thermophysical properties of hydrogen compared with natural gas, current hydrogen measurement technology, the impact of hydrogen blends on the efficiency of industrial processes and the importance of tracking hydrogen in the distribution network for fair billing of customers. The reasons for measuring hydrogen content are manifold and stem from the large differences between the macroscopic properties of hydrogen compared with natural gas, which is primarily composed of methane. Some examples include safety monitoring (hydrogen is more prone to leakage and has a much higher upper explosive limit), power regulation (the volumetric energy density of hydrogen is around 1/3 of methane) and combustion properties (the flame speed and temperature of hydrogen are considerably higher). Looking at the three gas properties displayed in Figure 1: thermal conductivity λ, heat capacity cp and speed of sound cs, hydrogen clearly stands out. Simplistically seen, hydrogen content can therefore be determined relatively accurately by measuring one or more of these properties. However, this only truly applies when the properties or composition of the “complementary gas” is known and remains constant over time. For these cases cost effective measuring instruments operating on the basis

Figure 1: Thermal conductivity, speed of sound and isobaric heat capacity of different gases at 293.15 K and 1.01325 bar. of thermal conductivity or speed of sound measurements are a popular choice. The gasQS static (Figure 4 on the right) is a highquality example in this category and correlates the hydrogen content of a (quasi-)binary gas mixture from the measurement of thermal conductivity. For more complex gas mixtures, more sophisticated measuring instruments are required, with the ideal instrumentation depending on the particulars of the measurement task. Gas chromatographs remain the gold standard, are however often

too expensive or slow for specific applications. Correlative instruments that measure multiple physical properties of the gas mixture (see Figure 2) tend to be faster and lower maintenance and make very good choices, assuming the measurement technology is appropriate for the concentration of hydrogen required. The gasQS flonic (Figure 4) is a gas quality measuring instrument that operates on the basis of thermal conductivity, heat capacity and speed of sound measurements that is able to determine hydrogen concentrations up to 100% in virtually any gas mixture and is as such compatible with a wide range of applications. Hydrogen tracking in the natural gas network For blending applications in which the composition of the natural gas is known, the measurement of only one of these gas parameters is sufficient to determine the hydrogen content to high accuracy. Gas quality instrumentation based only on thermal conductivity measurements, such as the gasQS static, is particularly popular for the determination of hydrogen concentration as the underlying sensors are fast, robust, reliable and do not require a defined gas flow. In situations where the natural gas quality is unknown or is dominated by local sources (biogas plants etc.) with temporal variability, then the measurement of a single gas parameter is insufficient to accurately

Figure 2: Two approaches to determine calorific value , process gas chromatography above, correlative devices.

determine hydrogen content. Correlative measuring instruments like the gasQS flonic can determine hydrogen content of complex and variable gas mixtures by measuring the thermal conductivity, heat capacity and density of the gas. In very closely meshed and branched gas networks, such as urban networks, it is not sufficient to determine the gas quality (or hydrogen content) directly at the mixing plant and simulate the calorific value using volumetric flow meters; sensors (e.g. for measuring thermal conductivity) must also be distributed in the natural gas network to ensure fair billing and optimised operation of the end consumers. Initial analyses by the Physikalisch-Technische Bundesanstalt (PTB) show that with knowledge of the volume flow in parts of the network, it appears to be possible to correctly simulate the calorific value with hydrogen in the network in accordance with metrology regulations. Knocking characteristics of gas engines Today, CNG engines must be able to tolerate two per cent hydrogen by volume. In order to be equipped for the future, CHP plants in particular must be ready for much higher proportions. The addition of hydrogen to CNG engines appears to improve their thermal efficiency. However, the faster combustion rate at a constant ignition angle leads to higher combustion and end gas temperatures and pressures. As a result, the likelihood of engine knocking increases. [2] With the help of thermal conductivity measuring devices, such as the gasQS static, which collect information about the supplied gas mixture for the engine control system, the engine timing can be adjusted to changing mixtures (see Figure 3). A gas component analysis would be too slow and too expensive to purchase and maintain for many installations. Hydrogen mixtures in furnaces The transition to hydrogen and hydrogen blends is a major area of research in hard to abate industries such as the glass manufacturing industry. Due to limitations in the supply of hydrogen, and green hydrogen in particular, it is important that furnaces and associated systems are outfitted to handle a range of gas qualities.

Figure 3 : Ignition timing vs. brake thermal efficiency [5].

The differences in the thermophysical properties of hydrogen and typical natural gas are considerable: the volume flow must be approximately tripled for an equivalent power, and the air requirement reduced by a factor of 4 (V/V) for hydrogen compared to the combustion of a standard natural gas. The combustion characteristics of hydrogen such as flame temperature, flame speed and flame shape result in differences in heat transfer to the melt, production of NOx and conditions inside the furnace and in the exhaust gas. As such, the measurement of hydrogen content is paramount to process efficiency and to ensure the quality of glass production. [3] Process monitoring in hydrogen production In hydrogen production, a distinction is made between different degrees of purity for different applications. Purity grade A (industrial applications) [4] can be produced directly in some electrolysis plants. At this grade, the hydrogen produced in an electrolyser contains around 0.5% oxygen. In addition to the product gas measurement, the concentrations of hydrogen in oxygen and oxygen in hydrogen must also be monitored along the entire process chain for safety

reasons. Therefore, measuring the hydrogen concentration is important both for ensuring the safety of the process and for quality control of the purity of the final product. Correlative measurement technology, as used in gasQS measuring devices, is very well suited for these applications. It is sufficiently sensitive due to the physical properties of hydrogen but does not drive up the capital and operating costs significantly, even with several measuring points. Conclusion All in all, it can be said that the different nature of hydrogen compared to natural gas places new demands on measurement technology, but also enables innovation in new measuring equipment due to its characteristics. • Mems AG E-mail: info@mems.ch Website: www.mems.ch References [1] J. Schenk, S. M. Sarge and J. van der Grinten, “Erarbeitung von Verfahren zur Überprüfung der Gasverfolgung bei Wasserstoffzumischung und Überprüfung der Übergangszeiten in Netzabschnitten – H2Fronten,” DVGW, Bonn, 2023. [2] K. Haghighi and G. P. McTaggartCowan, “Modelling the Impacts of Hydrogen– Methane Blend Fuels on a Stationary Power Generation Engine,” Energies, vol. 16, no. 5, p. 2420, 2023. [3] B. Islami, J. Leicher, A. Giese, K. Görner and J. Overath, ““HyGlass”: Auswirkung von Wasserstoff auf die Verbrennung und Glasqualität in Glasschmelzwannen,” Schmelzen & Giessen, no. 02, pp. 48-55, 2023. [4] International Organization for Standardization, ISO 14687 Hydrogen fuel quality Product specification, Geneva: International Organization for Standardization, 2019.

Figure 4: gasQS flonic and static.

[5] P. Soltic, H. Biffiger, P. Prêtre and A. Kempe, “Micro-thermal CMOS-based gas quality sensing for control of spark ignition engines,” Measurement, vol. 91, pp. 661-679, 2016.

NEWS - PROCESSING BASF and Stena Recycling Partner in Recycling of Electric Vehicle Batteries in Europe

cathode active materials for new lithium-ion batteries. “By entering into a co-operation with Stena Recycling, we are strengthening BASF’s ability to offer a broadened battery collection network with a strong partner in the Scandinavian countries so that we can expand our offer for individual and closed loop solutions to battery producers and electric vehicle manufacturers in Europe,” said Dr. Daniel Schönfelder, President of BASF’s Catalysts division, who is also responsible for the company’s battery materials and battery recycling business. “This is an important step towards a circular economy for the European electric vehicle battery market.” •

ANDRITZ Completes Complex Retrofit of Waste udwigshafen, Germany, and Gothenburg, Sweden – BASF, a Gas Treatment Units at German Chemical Park

global battery materials producer and battery recycler, and Stena Recycling, one of Europe´s leading recycling companies, offering comprehensive solutions in recycling and circular services, have entered into a black mass purchase agreement. This agreement is part of a broader collaboration envisaged by BASF and Stena Recycling with the goal of setting up a battery recycling value chain for the European electric vehicle battery market. The focus of the co-operation will be on developing improved black mass production processes to achieve high recovery rates for metals such as lithium, nickel, and cobalt to support closed loop solutions for the European electric vehicle battery market. Collection, assessment, and pre-treatment of end-of-life lithiumion batteries, followed by black mass production are the first steps in the battery recycling process. Black mass is produced by mechanical treatment of end-of-life lithium-ion batteries and battery production scrap. In a second step, valuable metals, such as lithium, nickel, cobalt and manganese, in the black mass can be chemically recovered. Following the collection of endof-life lithium-ion batteries and battery production scrap, and the production of black mass by Stena Recycling in Halmstad, the black mass will be further processed in BASF’s prototype metal refinery in Schwarzheide. Stena Recycling and BASF aim to transfer such a model into BASF’s planned commercial scale battery recycling metal refinery in Europe. “The electrification of society has only just begun, and we want to boost a circular approach to battery production. Cooperation between industry actors will be essential for a successful green transition. With this agreement in place, Stena Recycling strengthens its position as one of the leading recycling partners in Europe, to both battery manufacturers and the vehicle industry,” says Marcus Martinsson, Product Area Manager Batteries at Stena Recycling Group. The use of recycled metals in the production of new batteries reduces a battery’s carbon footprint significantly. Battery producers and electric vehicle manufacturers in Europe can choose from a range of services. Under this collaboration, Stena Recycling will be responsible for collection of end-of-life lithium-ion batteries and battery production scrap, dismantling and discharging, as well as the black mass production. BASF will recover valuable metals from black mass and can produce new

nternational technology group ANDRITZ has successfully retrofitted two selective catalytic reduction systems (SCR) at the Leverkusen Chemical Park, Germany, significantly contributing to the park’s rapid revitalization after a devastating explosion in 2021. After the incident, which led to the shutdown of all four lines of the hazardous waste treatment plant, Currenta GmbH & Co OHG, the operator of the chemical park, commissioned ANDRITZ to retrofit the severly damaged SCR II. However, unexpected corrosion damages at the SCR I unit made it necessary to put this unit out of service as well. ANDRITZ proposed an innovative concept that minimized downtime and allowed for the earliest possible restart of both units. The ANDRITZ retrofit team redesigned the plate heat exchanger originally intended for SCR II to meet the specifications of the SCR I unit. At the same time, they developed a strategy to repair the damaged SCR II heat exchanger for temporary use until the new one became available. Uwe Listner, Head of Technology for Hazardous Waste Incineration Plants at Currenta, says: “ANDRITZ’s innovative and flexible approach substantially reduced downtime and ensured the rapid revitalization of the Leverkusen Chemical Park. We intend to continue the good cooperation with ANDRITZ for other environmental projects.” The successful completion of this project underlines ANDRITZ’s commitment to provide innovative, timely and reliable solutions under challenging conditions. •

NEWS - PROCESSING Modernization of Croatian Ferry Improves Course Stability and Speed

Notice Regarding Transfer of Partial Shares in Pan Pacific Copper Co., Ltd. (Change in Consolidated Subsidiary (Sub-Subsidiary)) and Partial Interest n addition to measures that maintain the efficiency and of Los Pelambres Copper Mine

performance of a ship, such as necessary regular maintenance, a change in the operational profile sometimes requires significant modernization or retrofitting of the propulsion system. However, in some cases, new requirements for the performance of drives can be achieved using modifications that retain most of the existing units. Retrofitting a ferry for more difficult operating conditions Earlier this year, the Croatian ferry Krk, operated by state-owned shipping company Jadrolinija, was refitted for a new route with stronger winds and currents. For this purpose, the free-flying propellers of the Krk drives were replaced with new, optimized propellers and equipped with SCHOTTEL VarioDuct SDV45 nozzles. The propulsion conversion included both overhauls and modernizations in line with the ship’s planned maintenance cycle.

NEOS Holdings, Inc. announces that its wholly-owned subsidiary, JX Metals Corporation (President: Hayashi Yoichi) and Marubeni Corporation (President: Kakinoki Masumi) today agreed that JX Metals Corporation will transfer 20% shares of Pan Pacific Copper Co., Ltd. (President: Hori Kazuhiro), of which JX Metals Corporation holds 67.8%, and 3.27% interest of Los Pelambres Copper Mine, of which JX Metals Corporation indirectly holds 15.79%, to Marubeni Corporation. We expect no material impact from the above on our consolidated earnings for the period ending March 31, 2024. •

Cost-effective retrofit carried out out of season The entire conversion process took place during the annual off-season layover period. The drives were dismantled and reinstalled in Croatia by SCHOTTEL partner Alfa Marine. The conversion work on the drives themselves was carried out in the SCHOTTEL service workshop in Spay, Germany. By overhauling the existing drives - including the transport costs to Germany a cost saving of around 50 percent was achieved compared to buying new. Results exceed expectations The results of the modernization of the Krk exceed all of Jadrolinija’s expectations. The ferry reacts more precisely to steering maneuvers and the autopilot has to make fewer corrections thanks to the significantly improved course stability. Hydrodynamic analyzes from SCHOTTEL predicted the maximum speed of 13 knots that has now been achieved and various other advantages through the use of the SDV45 nozzle. In addition to the ship’s increased course stability, the new nozzles also ensure that the drives run more smoothly. Thanks to the Krk’s significantly improved thrust and performance values, Jadrolinija is now able to streamline the ferry’s schedule. •

Tpgroup Collaborates with Future Capability Group (FCG) on the Multi-Domain Integrated Systems (MDIS) Programme

ecently tpgroup was proud to collaborate with Future Capability Group (FCG) on the Multi-Domain Integrated Systems (MDIS) programme, launching project ACHERON at the Defence Academy of the United Kingdom. Project ACHERON will offer the opportunity to assess Defence’s All-Domain, integrated Remote Autonomous Systems (RAS) capability potential. ACHERON will support, align, cohere and integrate Front Line Command trials and experiments, and contribute to Joint Exercises where appropriate, to prove the level to which RAS can communicate and collaborate across Domains. The Symposium delivered professional presentational material from Maritime, Land, Air, Space, Cyber, UKStratCom, Ministry of Defence and the Royal United Services Institute. Our ACHERON industry partners were also in attendance, enabling discussions across defence and industry. •

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NEWS - EXPLORATION AND PRODUCTION Subsea7 Awarded Decommissioning Contract in Brazil

ubsea7 today announced the award of a sizeable contract by Shell for the decommissioning of subsea infrastructure associated with the FPSO Fluminense in the Bijupirá and Salema fields of the Campos Basin, at 700m water depth. Subsea7’s scope includes the disconnection, recovery, and disposal of 10 flexible risers, three umbilicals and nine mooring lines. Offshore works are planned to start in December 2023. Yann Cottart, Subsea7 Brazil Vice-President, said: “Twenty years ago, Subsea7 installed the flexibles and umbilicals for Shell’s Bijupirá and Salema fields and, two decades later, we’re proud to be one of Shell’s chosen contractors to take part in the completion of this field’s life cycle.” •

discovery and remaining prospectivity on these blocks, but also represents a key step toward the development of Venus by consolidating the partnership and securing financing of all partners which will add value to all stakeholders”, said Patrick Pouyanné, Chairman and Chief Executive Officer at TotalEnergies. •

Shell PLC Third Quarter 2023 Euro and GBP Equivalent Dividend Payments

he Board of Shell plc today announced the pounds sterling and euro equivalent dividend payments in respect of the third quarter 2023 interim dividend, which was announced on November 2, 2023 at US$0.331 per ordinary share. Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling currency elections by December 1, 2023 will be entitled to a dividend of US$0.331, €0.3070 or 26.31p per ordinary share, respectively.

Absent any valid election to the contrary, persons holding their ordinary shares through Euroclear Nederland will receive their dividends in euros at the euro rate per ordinary share shown above. Absent any valid election to the contrary, shareholders (both holding in certificated and uncertificated form (CREST members)) and persons holding their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling, at the pound sterling rate per ordinary share shown above.

Namibia: TotalEnergies Increases its Interests in Offshore Blocks 2913B and 2912

otalEnergies has signed an agreement to acquire from Impact Oil and Gas Namibia (Pty) Ltd (“Impact”) an additional 10.5% participating interest in block 2913B and an additional 9.39% participating interest in block 2912, both operated by TotalEnergies in Namibia. TotalEnergies’ intention is to share this additional participating interest with its strategic partner and joint venture member QatarEnergy. After completion of these transactions, which will be subject to customary third-party approvals from the Namibian authorities and joint venture parties, TotalEnergies would own a 45.25% interest in block 2913B containing the Venus discovery, and a 42.5% interest in block 2912. Impact will retain a 9.5% interest in each license. As per this agreement, Impact will be reimbursed for the past costs incurred for these interests, through a $99 million payment at closing. Impact will also be carried for its remaining interests until Impact receives the first sales proceeds from hydrocarbon production, secured via a repayment mechanism based on Impact’s share of production. “This transaction not only increases our share in the Venus

Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from December 6 to December 8, 2023. This dividend will be payable on December 20, 2023 to those members whose names were on the Register of Members on November 17, 2023. •

ConocoPhillips to Hold Fourth-Quarter Earnings Conference Call on Thursday, Feb. 8

OUSTON – ConocoPhillips (NYSE: COP) will host a conference call webcast on Thursday, Feb. 8, 2024, at 12:00 p.m. Eastern time to discuss fourth-quarter 2023 financial and operating results as well as 2024 guidance items. The company’s financial and operating results will be released before the market opens on Feb. 8. To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor, and click on the “Register” link in the Investor Presentations section. You should register at least 15 minutes prior to the start of the webcast. The event will be archived and available for replay later the same day, with a transcript available the following day. •

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NEWS - EXPLORATION AND PRODUCTION Decision Related to Mandatory Offer for All Shares in BW Energy from BW Group

ecision related to mandatory offer for all shares in BW Energy from BW Group

Reference is made to the announcement made by BW Group Limited (the “Offeror”) on 13 December 2023 regarding the launch of a mandatory offer for all issued and outstanding common shares of BW Energy Limited (“BW Energy”) not already owned by the Offeror at a price of NOK 27 per share (the “Offer”), and the offer document for the Offer dated 13 December 2023. BW Offshore Limited (“BW Offshore” or the “Company”) owns 58,111,461 (22.52%) shares in BW Energy. Following the Offeror’s announcement on 30 November 2023 of its intention to launch the Offer, BW Offshore engaged Arctic Securities AS as its independent financial advisor to assist the Company in assessing the Offer. Based on careful assessment of the Offer, and after having taken into consideration valuation advice received from Arctic Securities AS, BW Offshore’s strategy and such other factors as the Company deemed relevant, BW Offshore has resolved not to accept the Offer.

deepwater trees, and the installation of subsea umbilicals, risers and flowlines (SURF) at a water depth of between zero to 4,265 feet (1,300 meters). “This award demonstrates McDermott’s track record of executing fast track projects of this nature,” said Mahesh Swaminathan, McDermott’s Senior Vice President, Subsea and Floating Facilities. “It not only builds on the successes of our ongoing work for the KG-DWN-98/2 project but stands as a testament to our strong working relationship with ONGC. We are confident that our collaborative approach will continue to position us well for the successful delivery of this next stage of this important project for India.” Project management and engineering will be executed from Kuala Lumpur, Malaysia, with support from other McDermott offices. *McDermott defines a large contract as between USD $50 million and USD $250 million. •

Borr Drilling Limited –Dividend declaration and Andreas Sohmen-Pao who is the Chairman of the Offeror, key information relating to the cash distribution the Company and BW Energy, and Carl Krogh Arnet, CEO of for the third quarter 2023 BW Energy and a board member of the Company, have not participated in BW Offshore’s discussions and decisions relating to the Offer. •

McDermott Awarded Transportation and Installation Contract by ONGC

cDermott has been awarded a large* transportation and installation contract by the Oil and Natural Gas Corporation (ONGC) for the KG-DWN-98/2 development project, located off the east coast of India.

amilton, Bermuda, December 22, 2023. Borr Drilling Limited (NYSE and OSE: BORR) today announces that the Company’s Board of Directors has approved a cash distribution of paid-in capital of US$0.05 per share for the third quarter of 2023. Note to shareholders registered in Euronext VPS, the Norwegian Central Security Depository: Due to implementation of the Central Securities Depository Regulation (CSDR) in Norway, please note the information regarding the payment date for the shares registered in Euronext VPS below. Key information: Distribution amount: $0.05 per share Declared currency: USD. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on 22 January, 2024.

Under the scope of the contract, McDermott will perform the transportation and installation of a central processing platform (CPP) and living quarters. Once installed, the CPP will be used to process wet gas which will then be transferred from the platform to an onshore terminal. The CPP award is an expansion of McDermott’s current scope of work under the KG-DWN-98/2 project — one of the largest subsea projects in India. Originally awarded in 2018, and nearing completion, the integrated subsea package includes the supply of all subsea production systems (SPS), including 26

Date of approval: 22 December, 2023 Last day including right: 29 December, 2023 Ex-date: 2 January, 2024 Record date: 3 January, 2024 Payment date: On or about 22 January, 2024. Due to the implementation of CSDR in Norway, distributions payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about 25 January, 2024. •

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NEWS - EXPLORATION AND PRODUCTION ADM, Marathon Petroleum Corp. Take Next Step in Meeting Demand For Renewable Fuels as Green Bison Production Facility Begins Operations

DM and Marathon Petroleum Corp. today celebrated the opening of their joint venture soybean processing complex, Green Bison Soy Processing, with a ribbon-cutting ceremony. The Green Bison facility in Spiritwood is North Dakota’s first dedicated soybean processing complex, and is a major step towards meeting increased demand for renewable fuels, in this case renewable green diesel. Green Bison Soy Processing will source and process local soybeans, with the resulting oil supplied exclusively to Marathon as a feedstock for renewable fuels. The facility will produce approximately 600 million pounds of refined soybean oil annually, enough feedstock for approximately 75 million gallons of renewable green diesel per year. The approximately $350 million complex features state-of-the-art automation technology and has the capacity to process 150,000 bushels of soybeans per day. Green Bison Soy Processing began receiving soybeans in September of 2023 and is in the commissioning and startup phase of processing soybeans for meal and oil. “Sustainability is one of the enduring trends driving changes in structural global demand, and this investment helps position ADM, as a leader in our industry, to deliver on that demand,” said Greg Morris, president of ADM’s Ag Services & Oilseeds business. “The continued growth in demand for renewable green diesel presents a transformative opportunity for the oilseed industry, for producers, and for increasing the sustainability footprint of our transportation system, and we’re proud to join with Marathon Petroleum as leaders in that transformation. We’re excited for the start of production and look forward to working together to support sustainable solutions for the food and fuel industries.” “As we continue challenging ourselves to lead in sustainable energy, our joint venture with ADM not only strengthens our presence in North Dakota, but also gives us the opportunity to collaborate further with a world-class partner as we continue investing in a sustainable, energy-diverse future,” said Dave Heppner, Marathon’s senior vice president of Strategy and Business Development. “Green Bison Soy Processing’s Spiritwood facility is an important milestone in our ability to source and optimize logistically advantaged feedstock for our growing renewable fuels business.” Adding a continuous economic impact in various aspects, the new complex has supported hundreds of jobs in the region and currently employs approximately 75 people. Additionally, Green Bison Soy Processing was recognized by the Economic Development Association of North Dakota as the 2023 Economic Development Project of the Year announced in September of 2023. The award recognizes an organization that has worked to positively impact the economic health of the community, region or state. “The Green Bison Soy Processing facility creates a wonderful opportunity and lasting benefits for our area farmers and statewide soybean growers. Having two of the most important

components of North Dakota’s economy, agriculture and energy, coming together on a project like this is a significant benefit to the city of Jamestown and the surrounding communities,” said Dwaine Heinrich, mayor of Jamestown, North Dakota. “While this facility provides added value for our farmers, it is also a significant investment to the community of Spiritwood through job creation. We are very appreciative to ADM and Marathon for their collaboration to make this project possible.” •

Seadrill Limited Initiates New Share Buy-back Program

AMILTON, Bermuda: Seadrill Limited recently completed its $250 million share repurchase program which was announced in September 2023. As announced on November 27, 2023, the Board of Directors of the Company authorized additional share repurchases, allowing the repurchase of up to a further $250 million of its outstanding common shares. The Company is not obligated to repurchase any shares under the program. The additional authorization has no set time limit. In furtherance of the November 2023 authorization, the Company announced today that it has put in place an agreement with Fearnley Securities AS and its subsidiary, Fearnley Securities, Inc. (“Fearnley”), for the repurchase of the Company’s common shares in open market transactions on the OSE and the NYSE. Under this agreement, Fearnley will make its own trading decisions independently of, and uninfluenced by, the Company, subject to instructions provided by the Company in the agreement. In order to comply with the European Market Abuse Regulation, the Company has provided the following required information: (i) under the repurchase program, as may be effected under the Fearnley agreement, the Company may repurchase up to $250 million of its common shares during the period from December 14, 2023 until no later than September 30, 2024 (subject also to a maximum limit of 10 million shares), and (ii) the purpose of the repurchase program is to reduce the number of common shares of the Company outstanding and to provide a return to Company shareholders. The Company cannot predict how many shares will be repurchased, if any, under the agreement with Fearnley, or the timing of any repurchase or the price that will be paid for any shares repurchased under the agreement. The repurchase program will be completed in accordance with Regulation (EU) 2016/1052. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and article 5 of the European Market Abuse Regulation. •

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“The SPE Europe Energy Conference stimulates the technical integration that addresses today’s energy transition challenges in the petroleum industry. The conference will accelerate knowledge sharing that will impact the sustainable future of Europe’s energy landscape.” Léon Beugelsdijk | Front End Development Manager CCS, Shell Global Solutions

NEWS - EXPLORATION AND PRODUCTION The Future of Fuel May Be Found in an Unexpected Place

scalable and cost-efficient digital solutions for the emerging CCS industry. “Digital workflows are a key component to successfully managing CO2 through the end-to-end value chain, from capture point to permanent storage. Northern Lights is very pleased to partner with industry leading tech companies, SLB and Microsoft, on the development of digital CCS solutions”, said Børre Jacobsen, Managing Director of Northern Lights. In the initial phases of the collaboration, SLB will extend its digital CCS workflows and numerical simulation systems on its Delfi™ digital platform, which was deployed to streamline the subsurface workflows of Northern Lights in 2022.

arming techniques around for centuries are helping create biofuels that could play a part in decarbonizing transport

bp’s wider transformation is under way. While we’re mostly in oil & gas today, we’ve increased global investment into our lower carbon businesses, convenience stores and power trading from around 3% in 2019 to around 30% last year. De Broughton is a sixth-generation farmer in Florida. In 2021, she trialled a new crop on her farm – Nuseed Carinata, a green leafy plant with bright yellow flowers that acts as a cover crop. “I want this land and these resources to be available to my children, and their children, and future generations to come,” she says. For De and farmers like her, cover crops like carinata help to protect and nourish the soil between growing traditional food crops, like the peanuts and corn that De’s family grows. In carinata’s case, it’s also a crop from which oil can be sold to bp to generate biofuels. That gives carinata, and plants like it, the potential to be one of the largest-scale solutions for helping to decarbonize ships, trucks and planes globally. “Cover crops are a win-win – they are helpful to farms and farmers and can also play a role in the energy transition,” says Angela Ruiz Garzon, bp’s global feedstocks programme manager. “Importantly, they can improve soil health and generate oil that can be used to make biofuels without interrupting, or competing with, food crop production, since they can be planted on the same land in between main crop cycles.” •

SLB Collaborates with Northern Lights JV and Microsoft to Digitalize Carbon Capture and Storage Value Chain

LB and Northern Lights Joint Venture (NL) announced today they have signed a memorandum of understanding (MoU) with Microsoft to optimize integrated cloud-based workflows for the operation of Northern Lights, one of the first CO2 transport and storage providers for cross-border carbon capture and storage (CCS). The collaboration will contribute to the development of

“In less than three decades, CCS must scale up by 100–200 times to have the expected impact on global net zero ambitions,” said Trygve Randen, Senior Vice President of Digital Products and Solutions, SLB. “Digital solutions have a key role to play in enabling the necessary speed and scale for CCS, and we are excited to work closely with Microsoft and the Northern Lights JV to facilitate the complex digitalization of the CCS value chain.” Microsoft will deploy and extend its Microsoft Azure platform to ensure scalable cloud services that support Northern Lights’ business and the SLB digital CCS workflows. SLB and Microsoft are collaborating on the development of an Azure-compliant open-source data platform that will serve as the digital infrastructure for Northern Lights. “Microsoft is thrilled to partner closely with SLB and Northern Lights to drive tangible CO2 reductions at scale in 2024 and beyond. We are confident this lighthouse project can help accelerate the CCS industry and the digital infrastructure that is needed to reach global climate goals,” said Sverre Brandsberg Dahl, Chief Technology Officer, Microsoft Energy and Resources Industry. Carbon capture and storage enables the reduction or removal of CO2 emissions, providing industrial emitters with realistic decarbonization opportunities. According to the International Energy Agency (IEA), “reaching net zero will be virtually impossible without CCUS”. Northern Lights Joint Venture was established by Equinor, TotalEnergies and Shell to accelerate the decarbonization of industry. The development of the transport and storage facilities is on schedule and Northern Lights will be ready to receive and store CO2 from industrial emitters in 2024. The first phase development has a storage capacity of 1.5 million metric tonnes CO2 per year and the company has already entered into commercial transport and storage agreements with Yara and Ørsted. Northern Lights has further growth ambitions and aims to expand its storage capacity according to market development.

NEWS - NORTH AMERICA Landmark Project Wins Boost Stats Credentials in APAC Markets

Chevron Exec: California Policy would Deter Energy Production

Chevron executive is calling on the California Energy Commission to reject a policy that would limit energy investment in the state.

number of completed landmark projects, greater market recognition and a long-standing policy of localisation, has strengthened STATS Group’s presence in Australia and the wider Asia Pacific hydrocarbon sector. STATS Group has broken new ground with the awards of inaugural projects by major operators and is on a recruitment drive to consolidate existing markets while opening up new opportunities. STATS has a long-established track record in delivering industry leading repair and maintenance solutions to energy operators along with main engineering, procurement and construction (EPC) contractors globally, with proven dual sealing technology at the core of their product and service offering. “This has been one of our busiest and most successful periods in terms of project activity and increased turnover in the Asia Pacific market,” STATS Group Regional Manager for Asia Pacific Gareth Campbell said. “We have taken a long-term view and from our initial market entry in Australia we have continually invested in infrastructure and people, starting out by setting up a base in Perth and expanding east and northwards. “This policy of having people and equipment on the ground which is a template in all our international locations - allows us to respond quickly to client demand and it is paying off as the main Australian operators are now engaging on a regular basis.” A new client recently commissioned STATS to deploy its patented BISEP® double block and bleed isolation technology to isolate the 20” Dampier to Bunbury Pipeline in Western Australia and the company hopes this lays the foundation for winning similar workscopes. Other BISEP projects in Western Australia included two workscopes, (double and quad 6” pipeline) and a quad 14” isolation on the Parmelia Gas Pipeline, while building on an existing frame agreement with Santos, a 12” hot tap service on the 42” Gladstone Transmission Pipeline was delivered in Queensland. •

Andy Walz, president of Chevron Americas Products, said in a letter to the commission that California’s Senate Bill (SB) X1-2 would deter investment in the region’s energy market. 5 things to know: • Chevron’s letter to the California Energy Commission: SB X1-2 would worsen the supply-and-demand imbalances and increase gasoline prices in the state. • California’s gas price contributors: Government policies, crude oil costs, geography, and taxes and fees are some of the top factors influencing the state’s gasoline prices. • Chevron’s stance on California investments: California’s policies have made it a difficult place to invest, prompting spending cuts and canceled projects. • Chevron’s recommendation: California should shift from a policy that disincentivizes production and toward one that incentivizes investment and innovation. Production drop: California’s oil and gas production has dropped approximately 29% in the last six years. letter to the california energy commission: Thank you for the opportunity to comment on the impact of a potential maximum gross gasoline refining margin and penalty per Senate Bill (SB) X1-2 (2023), referred to herein as “margin penalty,” and supply-and-demand imbalances, gasoline prices, and the transportation-fuels market generally. Chevron has a unique perspective on California’s transportation-fuels market. We are one of the original oil producers in the state, and we have the most extensive business here, from wellheads to retail storefronts. We appreciate the opportunity to share this perspective. •

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NEWS - NORTH AMERICA Cyclyx Reaches Investment Milestone for its First Circularity Center

• Houston-based facility will have the capacity to produce 300 million pounds of plastic feedstock per year for recycling • Expected startup in mid-2025

yclyx International, a joint venture among Agilyx, ExxonMobil, and LyondellBasell, announces a final investment decision (FID) to build the first Cyclyx Circularity Center (CCC). The facility is designed to accept and process plastics that are currently going to U.S. landfills for use in a range of recycling technologies. “This milestone is evidence of the real progress we are making to increase the circularity of plastic waste as a resource,” said Joe Vaillancourt, CEO of Cyclyx. “The first-of-its-kind CCC in Houston will serve as a blueprint, which we can replicate across the U.S. to progress our longterm goal of increasing the recycling options for plastic waste. Cyclyx is proud to be an innovator and enabler for unlocking plastic’s potential.” ExxonMobil and LyondellBasell are together investing $135 million into Cyclyx to fund operating activities and construction costs for the new facility, which has an expected startup in mid2025. The facility will have the capacity to produce 300 million pounds of plastic feedstock per year for advanced and mechanical recycling. Cyclyx is sourcing a combination of postconsumer, commercial, and industrial plastic waste of all kinds for the CCC. Leveraging Cyclyx’s proprietary technology, the CCC will accept, analyze, and process a wider range of plastic waste than what is traditionally accepted, including difficult-to-recycle plastics, such as food packaging, chip bags, and bottle caps. Cyclyx’s technology has a comprehensive understanding of post-use plastics’ complexity including polymer composition, additives, physical properties, and manufacturing processes. This comprises the Cyclyx feedstock database, which has been developed over 20 years, beginning at one of its founding companies, Agilyx. •

BOEM Seeks Public Comment on Draft Environmental Analysis of Central Atlantic Offshore Wind Energy Areas

n another step by the Biden-Harris administration to support the growing momentum across America for a clean energy economy, the Bureau of Ocean Energy Management (BOEM) today announced the availability of its draft environmental review of wind energy areas offshore the U.S. Central Atlantic region.

BOEM’s Draft Environmental Assessment (EA) considers potential environmental consequences of site characterization activities (e.g., geophysical, geological, and archaeological surveys) and site assessment activities (e.g., installation of meteorological buoys) associated with issuing wind energy leases in the Wind Energy Areas (WEAs) offshore Delaware, Maryland, and Virginia. The Draft EA also considers project easements and grants associated with each potential lease, including subsea cable corridors. The public comment period for the draft EA runs through Feb. 12, 2024. “BOEM will continue to work closely with our government partners, key stakeholders, and the public as we consider proposed offshore wind activities in the Central Atlantic,” said BOEM Director Elizabeth Klein. “Our overarching goal is to ensure any development is done in a manner that avoids or reduces potential impacts to other ocean uses and the marine environment.” On August 1, 2023, BOEM published a notice in the Federal Register announcing its intent to prepare an EA on potential impacts from offshore wind leasing in the Central Atlantic WEAs. As part of its scoping process, BOEM sought comments on the issues and alternatives that the EA should consider and received over 100 comments, which can be found at http://www. regulations.gov under Docket No. BOEM-2023-0034. On Dec. 11, 2023, the Department of the Interior announced a proposed offshore wind lease sale in the Central Atlantic WEAs. The proposal includes two areas for auction: WEA A-2 offshore the States of Delaware and Maryland, and WEA C-1 offshore the Commonwealth of Virginia. Together, these areas have the potential to support enough offshore wind to power over 2.2 million homes with clean energy. BOEM partnered with the National Oceanic and Atmospheric Administration’s National Centers for Coastal Ocean Science to develop a comprehensive, ecosystem-based ocean planning model that assisted in the selection of the final WEAs. The proposed sale does not include WEA B-1, located offshore Ocean City, Maryland, due to the need for further evaluation of potential conflicts with other existing ocean uses. The Draft EA analyzes all three areas, including WEA B-1, as the analysis may be helpful to inform additional potential lease sales, which could occur in the Central •

Valero Energy Corporation to Announce 2023 Fourth Quarter and Full Year Earnings Results on January 25, 2024

AN ANTONIO--(BUSINESS WIRE)-- Valero Energy Corporation (NYSE: VLO) announced today that it will host a conference call on January 25, 2024 at 10:00 a.m. ET to discuss 2023 fourth quarter and full year earnings results, which will be released earlier that day, and provide an update on company operations. •

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NEWS - NORTH AMERICA Electric Charge Points are Needed for Trucks and Buses Too!

ConocoPhillips Makes Final Investment Decision to Develop the Willow Project

OUSTON – ConocoPhillips announced today that it will move forward with development of the Willow project in Alaska. This Final Investment Decision approves the project and funds construction needed to reach first oil. The decision follows the Department of the Interior March 2023 Record of Decision and recent positive court orders, including this week’s Ninth Circuit Court of Appeals denial of plaintiffs’ request for an injunction.

he European Union aims to reduce transport emissions of CO2 by 90% by 2050 and has set targets to ensure that “nearly all” cars, vans and buses in operation, and new heavy trucks sold, are zero emissions by 2050. As an intermediary step, the “Fitfor-55” package has been developed to reduce emissions by 55 percent by 2030. The Alternative Fuels Infrastructure Regulation (AFIR) adopted by EU member states in June 2022, will play an important role in speeding up the infrastructure development and deployment, enabling the transport sector to significantly reduce its carbon footprint. In its “European EV Charging Infrastructure Masterplan”, the ACEA highlights the infrastructure and investments required to reach the EU’s CO2 reduction targets. In addition to 6.8 million public charge points required for passenger vehicles, trucks and buses will require up to 335,000 specific charging points by 2030. Whilst most heavy-duty vehicle charge points will be in truck and bus fleet hubs, an estimated 24,000 public fast chargers will be required across the core trans-European transport network (TEN-T), resulting in an average of 51 charging points every 100km. As it stands today, charge points for cars, trucks and buses are quite similar, with no specific architecture in place. But as more and more heavy-duty vehicles are manufactured and commercialized, specific solutions will need to be deployed. For a start, their batteries will be much larger, requiring higher voltage and capacity to be charged up within a reasonable time. High power charging is key to increase acceptance of e-mobility in this area. The CharIN Megawatt Charging System is a global industry taskforce, initiated to create a common solution for commercial vehicles with full interoperability. The localized nature of bus fleets means that most charging would take place at fleet hubs. At Watt & Well, we see very promising potential for the application of vehicle to grid (V2G) charging and storage solutions. The charging methodology for heavy-duty vehicles is still in flux as manufacturers committed to zero-emission trucks are developing battery electric as well as hydrogen fuel cell models. It is not yet clear which technology will emerge as the dominant model, however at Watt & Well, we are working on both solutions. Trucks with fuel cells also have high-power components requiring DC-DC converters. •

“We are excited to reach this significant milestone,” said Ryan Lance, chairman and chief executive officer. “With this project authorization, we’ve begun winter construction and Alaskans have started to receive the benefits from responsible energy development.” According to the Bureau of Land Management, the Willow project is projected to deliver $8 billion to $17 billion in new revenue for the federal government, the state of Alaska and Alaska Native communities. When completed, Willow is estimated to produce approximately 600 million barrels across the lifetime of the project, decreasing American dependence on foreign energy supplies. Designed to support and coexist with subsistence activities on Alaska’s North Slope, the Willow project underwent five years of rigorous regulatory and environmental review. Willow will be built using materials primarily made and sourced in the U.S. and has the potential to create over 2,500 construction jobs and approximately 300 long-term jobs. “We are grateful for the many supporters who advocated for Willow. Alaska Native communities and groups, especially those closest to the project on the North Slope, continually provided input that helped shape this project. We also appreciate the unwavering support from Alaska’s bipartisan Congressional Delegation – Senators Lisa Murkowski and Dan Sullivan and Representative Mary Peltola – the state legislature and organized labor groups,” Lance added. “Our employees and the contractor community have dedicated years to designing a project that will provide reliable energy while adhering to the highest environmental standards.” •

Seadrill Limited Announces Organizational Change

s previously announced, has decided to close its London, England office and consolidate its corporate office in Houston, Texas. The Company announced today that its Executive Vice President and Chief Operating & Technology Officer, Leif Nelson, will not relocate to Houston and instead will be departing Seadrill. In connection with Mr. Nelson’s departure, the Company has promoted Marcel Wieggers to Senior Vice President Operations, reporting directly to Simon Johnson, President and Chief Executive Officer. Mr. Wieggers has been with Seadrill since 2009, most recently serving as Vice President - Operations.

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NEWS - SOUTH AMERICA Petrobras Announces Non-Renewal of Trademark License for Vibra

PEMEX Announces The List of Gas Stations with Service to the Public for Fuel Supply in Acapulco

• 5 6 gas stations have now opened to the public to supply gasoline and diesel fuel

etrobras informs that, yesterday, it notified Vibra Energia S.A. that it has no interest in extending the term of the company’s current trademark license agreement, which began on June 28, 2019 and will end on June 28, 2029. This agreement will remain in force, subject to the contractual terms and conditions. The non-renewal of the license will allow for the possible evaluation of new brand management strategies and business opportunities for Petrobras. Any decision will comply with the company’s governance. •

ENAP Commemorates the 78th Anniversary of the Discovery of Oil in Chile

• Lp gas supply to the population has been fully restored.

etróleos Mexicanos (PEMEX) reports that, as of November 6, 2023, there are already 56 gas stations in operation for the general public: PEMEX reaffirms that it has sufficient fuel supplies at the Acapulco Storage and Dispatch Terminal (TAD). The supply of LP gas to the population has been completely restored. This was achieved thanks to the support of private distribution companies in the Acapulco area, to whose distribution plants PEMEX supplies LP gas from the center of the country. •

Petroperú Rules Out Variation in Cost of the Talara Refinery Modernization Project

iven the information that is being disseminated in some media, Petroperú specifies the following:

he main activity took place in Punta Arenas and was attended by various local and regional authorities.

• The comprehensive investment amount of the Talara Refinery Modernization Project remains at USD 5,538.52 MM (without pre-operational interest), as was timely reported as a significant fact to the Superintendence of the Stock Market on August 11, 2023 and through the institutional portal of Petroperu.

Within the framework of the 78th anniversary of the discovery of oil in Chile, in Springhill Tierra del Fuego, the National Petroleum Company (ENAP) held a ceremony at the José Bohr Municipal Theater in Punta Arenas to commemorate that milestone that five years later gave origin to the creation of the state company.

• This amount was approved through Board Agreement No. 095-2023-PP, based on the technical report presented by the Talara Refinery Corporate Management. Likewise, the company’s Board of Directors approved the corresponding modification of the 2023 Investment Budget in the same session.

The event was attended by the presidential delegate, José Ruiz , the mayor of Punta Arenas, Claudio Radonich , the minister of Energy, María Luisa Ojeda , and the general manager of ENAP, Julio Friedmann , in addition to the manager of ENAP Magallanes, Rodrigo Bustamante , union representatives and civil society.

• Petroperú reiterates its commitment to transparency, in addition to guaranteeing the safe operation of all its operations, among which is the New Talara Refinery, a modern refining complex that has been producing fuels of the highest quality to supply the national market. •

On the occasion, 113 workers who had between 10 and 45 years of work experience in the company were honored and an assessment was also made of the company’s main milestones in 2023 and the challenges for 2024. “We are proud to celebrate this day that is part of the identity of ENAP and those who live in the Magellan region. The work we do as a company represents the past, present and future of Chile’s energy sustainability,” said the general manager of ENAP, Julio Friedmann, who stressed that the company has carried out one of the most relevant activities since its creation in 1950. •

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NEWS - ASIA PACIFIC ONGC launches Shared Finance Services in Collaboration with IBM to revolutionize Vendor Payment Processes

nergy Maharatna ONGC launched a significant business process initiative today with the inauguration of the ONGC Shared Finance Services in collaboration with IBM Consulting. This will centralize and standardise all vendor payments of ONGC, accelerating the processes for an enhanced 360-degree vendor experience. ONGC Chairman and CEO Arun Kumar Singh, inaugurated the Centre at Noida in the presence of ONGC Director (Finance) Pomila Jaspal, and IBM Consulting India/ South Asia Country Managing Partner Kamal Singhani on 14 December 2023.

The SFS adopts a hybrid workforce model, co-locating ONGC and IBM Consulting resources in a harmonized environment to foster growth and operational efficiency with best practices. Additionally, the SFS incorporates digitalized compliance processes, handling centralized compliance for TDS under the GST and Income Tax Act. Centralization brings ease of business through a Single TAN and centralized forex activities. System driven concurrent audit processes and tax compliance measures demonstrate the SFS’s commitment to transparency, and adherence to regulatory standards. Tokens will be created for unresolved queries, aiming to resolve within a 48-hour timeframe. The initiative reflects ONGC’s commitment to transparent uniform processes, stakeholder satisfaction, and collaborative growth. The anticipated advantages of the SFS include speedier processing of vendor payments, improved record-keeping, enhanced efficiency, and enriched vendor relationships. The SFS signifies commitment by ONGC and IBM to continuous process improvements and lays the foundation for exploring similar stakeholders’ friendly initiatives in the future – such as intelligent workflows and business operations powered by generative AI. •

PETRONAS Recognises Success of Local Oil and The event also witnessed participation of MD OVL Rajarshi Gas Vendors

Gupta, ONGC Director (Exploration) Sushma Rawat, Director (Human Resources) Manish Patil, CVO ONGC Ranjan Prakash Thakur, Director (Finance) OVL Anupam Aggarwal, MRPL Director (Finance) Vivek Tongaonkar and senior leadership team of IBM.

The ONGC Shared Finance Services (SFS) for Centralized Vendor Payments, has been developed in collaboration with IBM Consulting. The SFS will serve as a centralized hub for processing vendor invoices, updating vendor master information and promptly addressing vendor queries through digital assistant and ticketing tool that has been deployed by IBM Consulting. The SFS has been created with the goal of establishing uniform standardized processes to enhance operational efficiency and improve the overall vendor experience. Chairman & CEO ONGC Arun Kumar Singh while inaugurating the facility said, “This is one of the number of vendor-friendly initiatives that ONGC has taken to improve the overall vendor experience. We will continue to take more stakeholder-friendly initiatives by leveraging technology and taking the ease of doing business to the next level. All repetitive transactional jobs would be outsourced so that limited managerial time is freed up for core strategic assignments.” Speaking on the occasion, Kamal Singhani, Country Managing Partner, IBM Consulting India/South Asia said, “We see this collaboration, that leverages the collective strengths of IBM and ONGC, as good for India. We’re proud to help ONGC advance their digital transformation with our industry and domain expertise, technological innovation, and results-oriented approach.”

ETRONAS today acknowledged the accomplishments of local Oil & Gas, Services and Equipment (OGSE) vendors and service providers who have contributed to the growth of the oil and gas industry in the State. 49 local Sarawakian vendors were commemorated at the event, compared to the 11 vendors commemorated the previous year. The commemoration award was presented by PETRONAS Vice President of Group Procurement, Puan Freida Amat. This marks the progress achieved in the industry and a testament to the robust collaboration between PETRONAS, the Sarawak State Government, and the local OGSE industry players.

The event serves as a platform to strengthen the collaboration between PETRONAS and the Sarawak State Government in the oil and gas and energy space. Both parties remain committed to enhance a stable, conducive business and investment environment, to strengthen the capacity and capabilities which will further contribute to Sarawak and Malaysia’s economic growth. •

NEWS - ASIA PACIFIC PETRONAS Carigali, PTTEP Sign MoU and Operational Agreements for Blocks SK405B and SK410B, Off the Coast of Sarawak, Offshore Malaysia

“In Sarawak, we have a number of developments forthcoming including SK410B and SK405B. We highly appreciate and value this collaboration a lot since it will enable the parties to advance the success of our projects,” he added. With a keen focus on supporting the domestic energy industry, PETRONAS Carigali continues to collaborate with industry partners as part of its deliberate steps in accelerating a sustainable portfolio to produce energy responsibly, in line with PETRONAS’ Net Zero Carbon Emissions by 2050 Pathway. PTTEP holds 49.5 per cent participating interest in Block SK405B PSC, with MOECO Oil (Sarawak) Sdn Bhd and PETRONAS Carigali holding 25.5 per cent and 25 per cent respectively. For Block SK410B PSC, PTTEP and Kuwait Foreign Petroleum Exploration Company each holds 42.5 per cent interest with the remaining 15 per cent held by PETRONAS Carigali. •

ETRONAS Carigali Sdn Bhd (PETRONAS Carigali), a wholly-owned subsidiary of PETRONAS, has signed a Memorandum of Understanding (MoU) and two Technical Assistance Agreements (TAAs) with PTT Exploration and Production (PTTEP) in relation to the development of PTTEPoperated Blocks SK405B and SK410B located off the coast of Sarawak, offshore Malaysia. The MoU covers the scope of potential evacuation of production from Block SK405B through D35/D21/J4 Production Sharing Contract (PSC) facilities, Post 1976 Balingian PSC facilities and Bintulu Crude Oil Terminal operated by PETRONAS Carigali. Meanwhile, the first TAA covers the study and design works for Block SK405B fields into the same PETRONAS Carigalioperated facilities. The second TAA is for the assistance of engineering design for the potential construction, tie-in works, pipeline and cable crossings of Block SK410B for Lang Lebah’s gas evacuation to the Bintulu Additional Gas Supply Facilities 2, as well as for the potential production and handling of Lang Lebah’s condensate at the Bintulu Integrated Facilities. Signing the MOU and the TAAs on behalf of PETRONAS Carigali was Senior General Manager of Sarawak Asset, Anuar Ismail while PTTEP was represented by its Country Manager, Kanok Intharawijitr. Anuar said, “This collaboration would enable both parties to drive progress by leveraging on PETRONAS Carigali’s expertise and technology through continued focus on cost optimisation and operational excellence to ensure supply security, particularly in Sarawak.” “We look forward to working together with PTTEP towards our common aspiration in growing Malaysia’s energy industry in the long run,” he added. Kanok said, “PTTEP is delighted with this collaboration with PETRONAS Carigali and looks forward to its continued growth in the country, under the stewardship of Malaysia Petroleum Management, PETRONAS, as the nation’s custodian of petroleum resources. Currently, we operate eight PSCs in Sarawak with a production volume of ~15 KBOPD and ~200 MMscfd of crude and gas respectively.”

PetroChina Southwest Natural Gas Output Tops 40 BCM/y

n December 14, the annual natural gas production of PetroChina Southwest Oil & Gas Field Company (PetroChina Southwest) topped 40 billion cubic meters (BCM), another milestone since its annual production exceeded 30 BCM in 2020. 40 BCM of natural gas accounts for about 20 percent of China’s total production, and 11 percent of the country’sconsumption in 2023. Based on the average daily gas consumption of 1 cubic meter per household, such a production can meet the demand of more than 100 million households or more than 300 million people. PetroChina Southwest, undertaking 25% of China’s natural gas peak-shaving workload, plays an important role in responding to major emergencies such as energy shortages under cold snaps and other extreme weather conditions in northern China. Every year, the company continuously delivered natural gas to cities along the Yangtze River and in North China, providing energy support for the coordinated and high-quality development of the Beijing-Tianjin-Hebei region, the western China development drive, and Yangtze River Economic Belt development. •

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NEWS - ASIA PACIFIC Mubadala Invests In Zenobe, Reinforcing Commitment To Sustainable Infrastructure

ubadala Investment Company (“Mubadala”), the Abu Dhabi sovereign investor, is pleased to announce its investment in Zenobē, a global player in fleet electrification and battery storage solutions. This strategic investment by Mubadala was executed with Infracapital, the infrastructure equity investment arm of M&G Plc, where Mubadala is a strategic limited partner.

sustainable power and the decarbonization of transport are two key global trends today, and we see great potential in Zenobē to build on its already impressive growth in its core markets and diversify further into new countries. We are proud to complete this transaction and we are committed to supporting Zenobē deliver sustainable solutions for a more sustainable future.” •

Abu Dhabi, 5 December 2023: Mubadala Investment Company (“Mubadala”), the Abu Dhabi sovereign investor, is pleased to announce its investment in Zenobē, a global player in fleet electrification and battery storage solutions. This strategic investment by Mubadala was executed with Infracapital, the infrastructure equity investment arm of M&G Plc, where Mubadala is a strategic limited partner. Founded in 2017 and headquartered in London, Zenobē is an EV fleet and battery storage specialist. Its EV fleet business provides end-to-end solutions to support fleet operators with their transition to electric vehicles, including batteries, charging infrastructure and integrated software, while its battery storage business develops large-scale batteries that connect to transmission grids, a critical stabilizing component for networks as increasing renewable energy resources are integrated into the grids. Since Infracapital’s initial investment in Zenobē in 2020, the business has demonstrated remarkable growth, supporting over 1,000 electric vehicles globally, and has 430MW of battery storage in operation or under construction. The business has strong presence in the UK, Australia and New Zealand and a growing portfolio in continental Europe and North America. Supported by Mubadala, Infracapital is investing a further £270 million in Zenobē to grow the business in the UK and globally. KKR, a leading global investment firm, is also investing approximately £600 million, forming a strategic partnership with Infracapital as joint majority shareholders in Zenobē. With the support of its shareholders, Zenobē aims to power 4,000 electric buses, trucks, and commercial vehicles, catalyzing the global shift to cleaner transportation by 2026. The transaction represents a significant milestone for Zenobē and underscores Mubadala’s unwavering commitment to driving positive change and contributing to a sustainable and resilient future. Khaled Al Qubaisi, CEO of Real Estate & Infrastructure Investments at Mubadala said: “As the world gathers to address climate change during COP28, there is no doubt about clean energy infrastructure as a climate solution to enable a transition to a low carbon economy. Mubadala is investing in industries of the future to help find solutions to the world’s biggest challenges, including climate change, and our partnership with Infracapital and investment in Zenobē is a strong indicator of our commitment as a responsible investor. As one of the most exciting electric vehicle and battery storage companies in the world today, Zenobē is an established first mover, with a strong track record of using technical and commercial innovation to bring leading sustainable solutions to market. The growing demand for

CNPC Becomes Lead Contractor of Iraq’s West Qurna-1 Oilfield

hina National Petroleum Corporation (CNPC) officially took over from U.S. oil giant ExxonMobil as the lead contractor of the West Qurna-1 oilfield in Iraq, with the handover ceremony held on the site of the oilfield in Basra. Located about 50 kilometers northwest of Basra, the oilfield is one of Iraq’s largest. With an annual crude oil output of more than 25 million tons, it features low water cut, low recovery and low production rate. The successful takeover reflects the recognition of the Iraqi government and partners on CNPC’s long-term outstanding performance in Iraq, as well as their trust in the company’s operational capabilities. It indicates that CNPC and the Iraqi Ministry of Oil have built a sound partnership based on mutual trust through ever-deepening cooperation. Adhering to the principle of mutual benefit and win-win cooperation, and giving full play to its business advantages, CNPC will ramp up efforts on production capacity building, to break the production bottleneck, improve oil production, and provide solid support for Iraq’s production increase plan. This will increase oil revenue for the Iraqi government, foster more opportunities for the expansion of upstream and downstream operations, create a large number of jobs for local residents, and inject more impetus into deepening China-Iraq energy cooperation and the development of the Belt and Road Initiative.

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NEWS - HEALTH AND SAFETY 30 New Fire Engines for the Fire Departments in Latvia

With the expanding scope of a clean hydrogen economy, IECEx certification, which has been ensuring safety for hydrogen systems since 2003, can help accelerate the transition by enabling the required robustness of the emerging energy infrastructure. Is hydrogen a clean energy source? Hydrogen can be called a clean fuel at the point of use, with only water vapour as a by-product upon combustion or reaction in a fuel cell, thus being a pollution-free energy source.

ISS Poland already delivered 30 new fire engines to the fire departments in Latvia in 2022. As part of the modernization of the vehicle fleet, 30 more vehicles will follow this year. The Latvian Ministry of the Interior is investing around 30 million euros in these measures. A Mercedes UNIMOK 4x4 with a crew cab was chosen as the chassis for the water tender. The all-terrain vehicle replaces some of the 20-year-old fire engines in rural areas of Latvia. Equipped with an FPN 10-2000 centrifugal fire pump and a 2,500 l water tank, it is mainly used to supply water to building fires and to fight forest fires. Extinguishing technology from FireDos is used in the extinguishing vehicles to proportion the foam agent. An FD3000 proportioning system installed in the rear above the pump supplies one pressure outlet B on the left and one on the right with foam agent at the push of a button. To ensure the correct proportioning rate of every foam agent available in Latvia, the FireDos proportioner is capable of proportioning foam agent at 6%, 3% and 1%. Equipped with a start-up flow reduction, the proportioning range extends from 140 - 3,000 l/min. Particularly practical: operation is completely remote-controlled via pneumatic ball valves. After the first 30 fire engines were very well received by the Latvian fire departments, the Ministry of the Interior decided to procure a further 30 identical vehicles this year. These are currently being manufactured at the main WISS plant in BielskoBiala, Poland. •

Joining the Hydrogen Conversation

s countries and industries race against time to find renewable alternatives to fossil fuels, hydrogen has emerged as one of the options that experts have high hopes for. While hydrogen isn’t new, why are more organizations looking favourably towards it as a feasible energy option? What are the challenges that lie ahead? And how does the future look? As we get into the varying perspectives around the issue, there is no doubt that hydrogen is one of the key players in the global conversation on clean energy.

Having said that, the challenge lies in harnessing the potential of hydrogen cleanly and efficiently. Most of the hydrogen produced today is done through fossil fuels. Currently, a very small portion of hydrogen is produced cleanly from renewables. Numbers tallied in 2021 suggested that only about 1% of the global hydrogen output came from renewable energy. This “green” hydrogen is produced by electrolysis, where the electrical energy comes from renewable energy sources like the wind or the sun. The other potentially low-emissions way of generating hydrogen is “white” hydrogen which refers to naturally occurring reserves of underground hydrogen. Alternatively, the term “gold” is given specifically to hydrogen produced by microbial activities in depleted oil wells. Hydrogen from these sources is being investigated for their potential, and research in this area is at its infancy. Storage potential Hydrogen can be compressed and liquefied for storage and transportation in fuel tanks. It can even be transported using the existing infrastructure of natural gas pipelines. Its storage potential is one of the things that makes it so appealing as a feasible energy alternative. Using reversible fuel cell technology, experts have found that devices can split water through electrolysis to produce hydrogen, as well as convert hydrogen back to electricity. IEC Technical Committee (TC) 105 prepares publications relating to fuel cell technology, and one of its standards, IEC 62282‑8‑201, deals with energy storage systems using fuel cell modules in reverse modes. Since it can be stored, it is also a great option for off-grid power supply setups and enabling rural electrification. •

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NEWS - AFRICA Seplat Energy Clinches SERAS Africa’s Award for Education Intervention

The company has also contributed directly to improving the infrastructure of secondary schools by awarding prize money worth N101 million to winning secondary schools. The Seplat National Undergraduate Scholarship began in 2014 for host communities, states, and the nation. Since then, the company has provided scholarships to 780 Federal and State University undergraduate students of which 34 per cent are from our host communities. The Seplat Innovators Programme is creating STEAM Laboratories which are collaborative spaces where the study of science, technology, engineering, arts and mathematics can be integrated through hands-on experiences in a pure laboratory or combined classroom-laboratory setting.

eplat Energy Plc, a leading Nigerian independent energy company listed on the Nigerian Exchange Limited and the London Stock Exchange, has emerged winner of the Sustainability, Enterprise and Responsibility Awards (SERAS) Africa’s Education Intervention category for 2023. The SERAS Africa is an annual project which aims to promote as well as raise awareness about the roles that organisations play with emphasis on their responsibility towards stakeholders and the social development of Africa. It aims to substantiate the case that corporations who are socially responsible stand to gain huge benefits with regards to the triple bottom line – economic, social and environmental capital. Seplat Energy was announced winner of the award at the 17th edition of the SERAS Africa held at the Oriental Hotel in Lagos. The organisers praised the SEPLAT Teachers Empowerment Programme (STEP) for its strong impacts in Seplat Energy’s host communities and states, amongst other interventions. The company emerged tops in the category which had Julius Berger, Airtel, Dangote Sugar, Botswana Savings Bank and TotalEnergies.

Speaking on the companies listed for this year’s project, the founder of the awards, Ken Egbas, said: “These companies and dedicated professionals have shown exemplary commitment and leadership in driving sustainability across the continent. We, today, celebrate their impactful contributions. At The SERAS, we recognise the fact that the future for any business lies in the ability to successfully bridge the divide between private enterprise and public interest.” The Director, External Affairs and Social Performance, Seplat Energy Plc, Chioma Afe, in her remark, thanked the organisers of the SERAS Africa for the recognition and show of confidence in the Seplat Energy brand.

Our interventions in education cut across the entire education ecosystem. It is interesting that we are not just doing something for students alone, we are also intervening in schools by developing infrastructure and equipping the teachers. We are working with the relevant state ministries and

Winner of the Sustainability, Enterprise and Responsibility Awards (SERAS) Africa’s Education Intervention category for 2023

with our partners to see how we can really impact

According to the organisers, Seplat Energy educational programmes are in alignment with the sustainable development goals/objectives 4 (SDG 4); ensure access to education of the vulnerable; reduce the number of ‘out of school’ children; and ensure improvement in the quality of education.

Chioma Afe

STEP started in 2020 and since then it has provided 905 teachers and 87 Chief Inspectors of Education with digital teaching skills, leadership training, and income diversification; and supported the learning of over 10,000 students with new teaching skills. The other educational CSR initiatives of the company are the Seplat Pearl’s Quiz, National Undergraduate Scholarship, and Seplat Innovators programme. Seplat Pearl’s Quiz commenced in 2012 and since then 57,875 teachers and students have been impacted through a total of 11,575 participating schools. Scholarships worth N8.1million have been awarded to winning secondary school students.

every single part of that ecosystem.

The Director, External Affairs and Social Performance, Seplat Energy Plc

The ceremony had in attendance companies from all sectors across African economies, industry regulators, not-for-profit organisations, public sector players, and media, amongst other stakeholders. Other members of the Seplat Energy team present at the event were: Senior Manager, Business Partnering, Diversity & Inclusion, Uche Anajemba; CSR Manager, Esther Icha; Manager, Corporate Communications, Stanley Opara; CSR Lead, Charles Ifediba; and Senior CSR Adviser, Josephine Kola-Ajibade. •

NEWS - EIC PRESS AND MEDIA Energy Industries Council Named Market Intelligence Platform of the Year at OWI Global Awards

products since the inception in 2000, and it continues to guide us into the future. We are committed to an ongoing journey of delivering innovations in quality and usability to better serve our members.” Established in 1943, the Energy Industries Council is a nonprofit organisation and one of the world’s largest energy trade associations. With a membership exceeding 900 companies, ranging from major international contractors to specialised service providers, EIC’s objective is to provide its members with a powerful network of global energy customers, building the world’s largest energy supply chain membership.

he Energy Industries Council (EIC), the world-leading energy supply chain trade association, has been named the Market Intelligence Platform of the Year at the prestigious OWI Global Awards 2023. Securing victory against five other contenders, this recognition emphasises EIC’s role as a provider of robust market intelligence within the global energy industry. The OWI Global Awards, held in Aberdeen, is an annual celebration that acknowledges excellence in global well intervention. The EIC was chosen by an expert judging panel from among six outstanding contenders. John Petchey, EIC Membership Manager for Scotland, Northern Ireland, and Scandinavia, who received the award on behalf of the EIC, expressed gratitude for the recognition, stating, “We’ve been delivering market intelligence for over 23 years, continually innovating and evolving our services to meet the dynamic needs of our global membership base.” Petchey credited the success to the support of the 900 EIC member companies, acknowledging their role in driving continuous improvement. EIC’s flagship database, EICDataStream, launched over two decades ago, has been pivotal in delivering comprehensive market intelligence. With over 14,307 tracked projects and a combined CAPEX of $13.8 trillion, EICDataStream provides a valuable resource for informed decision-making. Additionally, EIC’s other proprietary databases, including EICAssetMap and EICSsupplyMap, offer detailed insights into global energy facilities and supply chain companies across key regions. Neil Golding, EIC Director of Market Intelligence, said, “Our data encompasses detailed information across different sectors of the global energy industry in one location, providing EIC member companies with a view of the current project landscape around the globe. The insight provided by the data allows companies to make informed decisions on where to do business now and into the future.” He added, “Our team of global experts provides the content and analysis of the data and is at hand to help our members navigate the ever-evolving global energy market and it is great to see their work acknowledged in this way .” Bob Gear, Head of Information Systems who helped create EICDataStream, said, “Our members’ needs are our top priority. User feedback has been instrumental in moulding our data

The EIC was awarded in April the King’s Award for Enterprise: International Trade, in recognition of its outstanding contribution to UK exports. The King’s Award for Enterprise is the most prestigious official recognition for business excellence in the UK. •

EIC Regional Awards 2023 to Celebrate Excellence in Asia-Pacific Energy Supply Chain

he Energy Industries Council (EIC) The world leading energy trade association and provider of world-class industry data, events, and insights – will gather on 30 November more than 200 industry leaders and innovators from across the Asia-Pacific region to celebrate supply chain excellence at the EIC Regional Awards 2023. The award winners were judged by a panel of 70 experts from across the global energy industry. The award categories presented were the result of an in-depth survey of the energy industry, as revealed in the EIC’s Survive and Thrive insights report, published in July. Ten awards will be presented to Asia-Pacific energy supply chain companies in categories ranging from innovation and export to energy transition and culture. Stuart Broadley, CEO of the EIC, said, “The global energy supply chain, including companies in the Asia-Pacific region, are unable to fully realise their potential in the net-zero space because there are simply not enough projects moving from announced to fully funded. Those green projects that do reach their final investment decision then tend to be low margin as well.” He continued: “Our message is clear: there is a widening gap between policy ambition and industrial reality. We call on policy makers to bring all stakeholders together urgently to encourage the adult discussion about these very real challenges to achieve net zero 2050 targets that we all so passionately want to achieve.” Commenting on the awards, Azman Nasir, EIC’s Director for the Asia-Pacific region, said, “The awards stand as a testament to the energy supply chain industry’s remarkable achievements and unwavering dedication. We are resolute in our mission to help our member companies in Asia to thrive through expanding their exports, diversifying their activities, and growing their businesses.” •

NEWS - MENA Qatarenergy Announces the Successful Completion of the Second Distribution of Free Mphc Incentive Shares

atarEnergy, the primary founder and main shareholder of Mesaieed Petrochemical Holding Company, announces the successful completion of the distribution of the second and last tranche of free incentive shares to eligible shareholders of Mesaieed Petrochemical Holding Company (MPHC) at closing of trade on Sunday 31 December 2023 in Qatar Stock Exchange. The free incentive shares distributed are equivalent to 50% of the shares allocated to such shareholders at the time of the initial MPHC public offering (IPO) in accordance with the mechanisms set forth in the IPO prospectus of the Company. This distribution is in line with QatarEnergy’s announcement, when the shares of MPHC were issued for subscription in December 2013, that it will distribute two equal sets of free incentive shares to eligible shareholders in the first award date on 31 December 2018 and the second award date on 31 December 2023. The free incentive shares are ordinary shares that have equal rights with capital shares. Similar to the first award, the distribution of incentive shares on the second award date will not add to, or change, the share capital of MPHC as the two distributions were allocated from QatarEnergy’ shareholding in MPHC. As a result of the two distributions, QatarEnergy’ shareholding in MPHC has been decreased to 57.9% from its initial shareholding of 74.2% at MPHC IPO. •

ADNOC Signs First Long-Term LNG Heads of Agreement from Ruwais Low-Carbon LNG Project ADNOC Signs First Long-Term LNG Heads of Agreement from Ruwais Low-Carbon LNG Project

5-year LNG agreement with ENN Natural Gas for at least 1 mmtpa reinforces ADNOC’s role as a reliable and responsible global energy provider Deliveries are expected to start in 2028, upon commencement of commercial operations at the facility Natural gas is a key transition fuel and the Ruwais project is set to be first in MENA to run on clean power, making it one of the lowest-carbon intensity LNG facilities in the world ADNOC announced today, the signing of a 15-year Heads of Agreement (“LNG agreement”) with ENN LNG (Singapore) Pte. Ltd. (“ENN LNG”), a wholly-owned subsidiary of ENN Natural Gas Co. Ltd. (“ENN Natural Gas”), for the delivery of at least 1 million metric tons per annum (mmtpa) of liquefied natural gas (LNG). The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi. The deliveries are expected to start

in 2028, upon commencement of the facility’s commercial operations. Rashid Khalfan Al Mazrouei, ADNOC Senior Vice President, Marketing, said: “This landmark LNG agreement from our ongoing Ruwais LNG project enhances ADNOC’s position as a reliable and responsible global energy provider and creates new opportunities for value-creation across our gas value chain as natural gas demand continues to increase. We are making excellent progress in delivering this strategic project as we grow our portfolio of lower-carbon energy solutions to enable the energy transition and we will continue to support our customers and partners on this journey.” The Ruwais LNG project is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power, making it one of the lowest-carbon intensity LNG plants in the world, supporting ADNOC’s accelerated Net Zero by 2045 ambition. When completed, the project, which consists of two 4.8 mmtpa LNG liquefaction trains with a total capacity of 9.6 mmtpa, will more than double ADNOC’s LNG production capacity to help meet increased global demand for natural gas. The LNG agreement is contingent upon a final investment decision (FID) on the project, including regulatory approvals, and the negotiation of a definitive Sale and Purchase Agreement between the two companies. •

OPEC Extends its Condolences on the Sad Passing of HH Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Amir of the State of Kuwait

he Organization of the Petroleum Exporting Countries (OPEC) offers its deepest and heartfelt condolences on the passing of His Highness Sheikh Nawaf Al-Ahmad Al-Jaber AlSabah, Amir of the State of Kuwait, to the leadership of the State of Kuwait, its ruling family and people. HH Sheikh Nawaf was appointed as Amir of the State of Kuwait on 29 September 2020. His period witnessed a number of challenges for the global oil industry, including the severe impacts resulting from the COVID-19 outbreak. His Highness’ astute leadership and wise counsel guided his country and the Organization to overcome many of these challenges. Over the last six decades, His Highness continuously advocated for just and inclusive solutions to regional and international issues. OPEC Secretary General, HE Haitham Al Ghais, said: “It is with great sadness and sorrow that we, at OPEC, have learnt of the passing of HH Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Amir of the State of Kuwait. His Highness was a distinguished leader that graciously provided guidance and support to the Organization, the Declaration of Cooperation and the global oil market.” •

PTTEP Joins Efforts to Address Climate Change at COP28 in the UAE

Australian LNG Monthly Report

he big news of the month was the confirmation by Woodside and Santos that both were in discussion on a potential merger. The company resulting from a merger (we call MergeCo) would certainly be a significant company and become the world’s fourth largest listed LNG producer after Shell, Exxon, and Chevron. MergeCo would be even more significant in the Australian domestic context and a look at EnergyQuest’s database shows some of the key metrics for MergeCo:

TTEP, as one of Thailand’s private sector entities, actively participated in the United Nations Climate Change Conference (COP28) held in the United Arab Emirates. The company made three commitments and engaged in discussions with energy companies, business leaders and philanthropists to explore concrete solutions for addressing global warming. Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed that PTTEP and global energy companies have pledged the Oil & Gas Decarbonization Charter, as part of the United Nations Climate Change Conference (COP28). The conference is taking place in Dubai, the United Arab Emirates, from 30 November to 12 December 2023. This pivotal charter outlines three key objectives to support climate change mitigation; achieving net zero operations by 2050, aiming for near-zero upstream methane emissions by 2030 and zero routine flaring by 2030 (according to World Bank’s “Zero Routine Flaring by 2030” Initiative). PTTEP also participated in the Business & Philanthropy Climate Forum along with more than 500 global business leaders and philanthropists to achieve substantial reductions in greenhouse gases. Additionally, PTTEP demonstrated its climate initiatives at Thailand Pavilion, organized by the Department of Climate Change and Environment. Aligned with PTTEP’s EP Net Zero 2050 concept to attain the goal of Net Zero Greenhouse Gas Emissions by 2050, these initiatives include Carbon Capture and Storage (CCS), methane management, Smart Forest Solution for green area management and the development of a carbon credit marketplace. PTTEP’s executives also shared their visions and perspectives at side events hosted at the Thailand Pavilion, expressing ambitions to achieve net zero emissions. This involves highlighting Carbon Capture, Utilization and Storage (CCUS), as a significant approach against global warming, harnessing renewable energy in its operations, developing new forms of future energy such as hydrogen, acknowledging the conservation and restoration of biodiversity as a crucial role in tackling global warming and undertaking other activities to mitigate greenhouse gas emissions. •

• Oil and natural gas liquids: MergeCo would account for half of Australia’s oil production. • Gas production: MergeCo would account for 18.6% of Australia’s natural gas production and be the equal largest producer with Chevron. • LNG: Woodside is the larger LNG producer with 10,950 tonnes in the 12 months to September 2023 against Santos’ 1,970 tonnes. MergeCo would account for 14.4% of Australia’s LNG exports. • West coast domestic gas supply: MergeCo would account for 46.3% of Western Australia’s domestic supply. In the medium term EnergyQuest estimates that Scarborough will account for 15% of domestic supply once it starts producing from 2026, increasing the total market share of MergeCo to above 50%. As the single biggest new domestic gas supply, Scarborough will have a key influence on WA’s supplydemand balance and ultimately gas prices. • East coast gas production: Santos is the larger producer in the east overall with 131.1 PJ produced in the 12 months to September 2023 against Woodside’s 97.6 PJ. MergeCo would account for 9.4% of east coast gas production. LNG statistical summary In November, Australian LNG projects shipped 6.69 Mt (98 cargoes), virtually the same as the 6.76 Mt (98 cargoes) shipped in October. Prelude had no shipments in November (or in September and October), having started a major maintenance turnaround in August. EnergyQuest estimates that Australian LNG export revenue in November was $5.64 billion, which is lower than the $5.71 billion in October, and a 32% decrease compared to November 2022. Western Australia projects earned export revenue of $3.21 billion, Queensland projects brought in $1.65 billion, and Northern Territory projects $0.77 billion. Overall, Australia’s November 2023 shipments were 81.4 Mtpa on an annualised basis. China and Japan remained dominant destinations. In November, 102 cargoes were delivered. Over a third of Australia’s LNG at 36 cargoes were delivered to China, up from 25 in October and 32 in November 2022. Australia delivered 29 cargoes to Japan in November, down from 36 in October, and down from 36 in November 2022. •

NEWS - MENA Bahri Logistics Partners with Saudi Arabia Railways to Provide International Freight Forwarding Services

effectively integrates sea, air, rail, and road transportation to provide door-to-door, express freight forwarding, and last-mile delivery services. Additionally, Bahri Logistics offers valueadded services through supply and distribution centers, as well as local distribution and reverse logistics solutions.

Aramco to acquire a 40% stake in Gas & Oil Pakistan

ahri Logistics, a global leader in logistics and transportation and one of the six business units of Bahri, has entered into an international freight forwarding service agreement with Saudi Arabia Railways (SAR). SAR is the owner and operator of the railway networks in Saudi Arabia, which plays a pivotal role in supporting the goals of building an integrated transportation system. Under the terms of the three-year agreement, Bahri Logistics will serve as SAR’s primary freight forwarding service provider for both imports and exports. The agreement was signed by Eng. Soror Basalom, Bahri Logistics President, and Eng. Salah bin Abdullah Al-Omair, the Vice President for Shared Services at SAR, in the presence of officials from both organizations during a ceremony held at SAR headquarter in Riyadh. Commenting on the agreement, Eng. Basalom said: “Since its inception, SAR has been instrumental in shaping the Kingdom into the vibrant, economically diverse, and interconnected place it is today. We at Bahri Logistics are incredibly proud to partner with such a crucial national company. Leveraging expertise gained over several decades, we will deliver seamless freight forwarding services to SAR and its customers in line with the highest global standards.” Eng. Al-Omair stated that SAR is contentiously working on developing its solutions and enhancing the efficiency of railway transportation to provide exceptional services to the clients in all railway networks across the Kingdom of Saudi Arabia. And we look forward to investing in this partnership to further elevate SAR services in the coming years, contributing to the growth of the railway sector. “Bahri Logistics has established itself as one of the Kingdom’s most trusted industry partners, and we look forward to enhancing SAR’s offerings in the coming years through this partnership. We hope that this alliance will strengthen our capabilities and contribute to the continued growth and success of both organizations.” With over forty years of logistics experience, Bahri Logistics offers end-to-end logistics and supply chain management solutions. The company’s multimodal transport ecosystem

ramco Executive Vice President of Products & Customers, Yasser Mufti, sitting right, signs the agreement with GO founder & CEO Khalid Riaz, sitting left. Standing, from left: Aramco International Retail Director Nader Douhan, Aramco Vice President of Retail Ziyad Juraifani, GO Chairman Tariq Kirmani, Aramco Downstream President Mohammed Y. Al Qahtani and GO Chief Operating Officer Zeeshan Tayyeb Aramco, one of the world’s leading integrated energy and chemicals companies, today signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (“GO”). GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan. The transaction is subject to certain customary conditions, including regulatory approvals. The planned acquisition is Aramco’s first entry into the Pakistani fuels retail market, advancing the Company’s strategy to strengthen its downstream value chain internationally. This transaction would enable Aramco to secure additional outlets for its refined products and further provide new market opportunities for Valvoline-branded lubricants, following Aramco’s acquisition of the Valvoline Inc. global products business in February 2023. Mohammed Y. Al Qahtani, Aramco Downstream President, said: “Our second planned retail acquisition this year aligns with Aramco’s downstream expansion strategy, with a clear path ahead for growing an integrated refining, marketing, lubricants, trading and chemicals portfolio worldwide. GO has a significant storage capacity, high-quality assets and growth potential, which will help launch the Aramco brand in Pakistan.” •

NEWS NAOC JV Delivers Medical Equipment to Rivers, Bayelsa, Delta and Imo States

igerian Agip Oil Company (NAOC) on behalf of NAOC Joint Venture has donated medical equipment to tertiary health institutions and hospitals in its four states of operations in Niger Delta, Nigeria.

Speaking during an inspection tour of the rehabilitation project, which also coincided with the 15th Refineries’ Rehabilitation Steering Committee Meeting, the Group Chief Executive Officer, NNPC Ltd., Mr. Mele Kyari, said as of December 15th, 2023, 84.4% of Area 5 Plant, a key component of the Refinery, and 77.4% of the entire rehabilitation project have been completed.

The commissioning and handover ceremonies were held recently during which the equipment were given to the medical facilities located in Rivers, Bayelsa, Delta and Imo States. In particular, eleven (11) mobile ventilators were donated to hospitals in various cities.

“In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” Kyari stated.

The initiatives were implemented to promote efficient health care delivery in the states and the communities in order to contribute to development of the regions through a healthy population.

The GCEO commended the NNPC Ltd.’s staff and the EPCIC contractors for doing a great job in ensuring that the refinery achieved that significant milestone.

The company and the institutions will establish a joint monitoring and evaluation team that will review periodically the performances and feedback on the utility and impact of the machines to the health care delivery in the institutions.

In his remarks, the Chairman of NNPC Ltd Board, Chief Pius Akinyelure described the milestone as “historic”, stressing that the board was proud of the staff and management of the refinery.

The company and its partners implement initiatives such as infrastructure, health, education and capacity building targeted at local socio-economic development to promote the sustainable development of the communities and states where it operates. The Nigerian Agip Oil Company (NAOC) operates in the land and swamp areas of the Niger Delta under a joint venture agreement, popularly referred to as the NAOC JV. The NAOC JV includes the NNPC E&P Limited (NEPL), NAOC and Oando. •

“We are just starting. We want to be at the highest level of production so that we will keep the prices of petroleum prices in the country stable in order to give comfort to our people and generate more revenue for our country,” Akinyelure noted. Also speaking, the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the milestone is another landmark of the renewed hope agenda of President Bola Ahmed Tinubu, GCFR. He thanked Nigerians for their patience and the trust they have in NNPC Ltd.’s ability to deliver on this huge project.

In his address, the Minister of State for Petroleum (Gas), Rt. NNPC Ltd Fulfils Promise, Delivers Port Harcourt Hon. Ekperikpe Ekpo, said re-streaming the Refinery will herald Refinery …Achieves Mechanical Completion, Flare a good omen for the nation’s Liquefied Petroleum Gas (LPG) Start-Up Of Refinery’s Area 5 Plant industry, as LPG, also known as cooking gas, is a major byeproduct of the Refinery.

Also speaking, the Managing Director of Tecnimont Nig. Ltd., Fabio Del Cioppo, one of the EPC Contractors of the Rehabilitation Project, said his company remains committed to fulfilling the terms of the contract. •

he Nigerian National Petroleum Company (NNPC) Ltd. has fulfilled its pledge of achieving the mechanical completion of rehabilitation work on Area 5 Plant of the Port Harcourt Refining Company (PHRC). Rehabilitation work has been ongoing at the Refinery for over two years and the NNPC Ltd. had pledged to complete Phase One of the project (mechanical completion and flare start-up) of Old Port Harcourt Refinery (Area 5) by 31st December 2023.

NEWS - AFRICA Seplat Energy COO Lauds Divestment ctivities in Nigeria’s energy industry

The Seplat Energy COO said: “Governance and ethics are also critical to getting the right funding. There should be a clear and transparent commitment to ESG (Environment, Social and Governance); and shareholders in the business should get the right dividend which retains existing investors and attracts new ones. “The future looks bright for Nigeria as we have quite a number of divestment opportunities in-country. Let’s enable those and allow the country to achieve organic growth.” •

Eni launches the Distribution of Cookstoves to Households in Rwanda

he divestment story in Nigeria’s petroleum upstream sector has been a success case in terms of value creation, realisation and retention for the economy, the Chief Operating Officer, Seplat Energy Plc, Mr. Samson Ezugworie has said. According to the Seplat Energy COO, whilst the International Oil Companies put their focus on deep water activities – courtesy of their divestment programmes - the Indigenous Oil Companies should be supported to grow onshore shallow water assets. Ezugworie said this during a panel discussion at the 12th Practical Nigerian Content Forum at Nigerian Content Development and Monitoring Board (NCDMB) Headquarters, Yenagoa, Bayelsa State themed ‘Deepening Nigerian Content Amidst Divestments, Domestication & Decarbonisation’. The panel discussion was centered on the topic ‘Upstream Divestments: Outlining the Pathway to Success’. The Seplat Energy COO explained that Seplat Energy has been part of the divestment journey in the petroleum upstream sector of Nigeria, and remains committed to driving excellence and advancing the fortunes of the Nigerian entity whilst impacting more lives and promoting national prosperity. Seplat Energy started this drive in 2009 leading to the acquisition of the Western Asset blocks in 2010, and today, Seplat Energy’s operations cover seven onshore blocks. Ezugworie attributed the successes recorded by Seplat Energy and other indigenous players to the potency of the local content advocacy, and urged Nigerians to be proud of the advancements and achievements thus far. According to him, divestments activities do not only grow local potentials in the Nigerian energy landscape, but also tremendously boost capital development in-country, expand governments’ revenue base in the area of taxes and create jobs for Nigerian businesses and Nigerians. “Divestments in Nigeria have been of great success and what we need to do today is to make the sky wide enough for all the birds to fly” he added, noting that funding remains very strategic, as the right balance must be struck between sourcing for funding locally and attracting foreign direct investments.

he initiative targets the distribution of improved cookstoves, supporting the country’s energy transition through promoting energy efficiency in cooking. San Donato Milanese (Milan), 15 December 2023 – Eni kicks off today the distribution of improved cookstoves to families in Rwanda, starting from the Nyagatare district. The initiative has the target to supply and monitor 500,000 improved cookstoves during the next 10 years to reduce CO2 emissions and improve health conditions while cooking. The project, developed with the support of Rwanda Development Board (RDB) and designed in cooperation with the Ministry of Infrastructure and the Rwanda Environmental Management Agency, provides an efficient alternative solution to the communities still relying on traditional cooking means, reducing the pression on forests and the indoor emissions that are still a cause of respiratory diseases, eye problems, and domestic accident risks. The time saved in cooking by using improved cookstoves can be employed for other social and economic activities. The initial phase will be focused on Nyagatare district and will be implemented in partnership with Rwanda Women’s Network (RWN). The NGO will contribute with its broad experience in implementing similar projects, with a focus on improving women’s socio-economic welfare, while Eni will bring its expertise in managing such initiatives aimed at delivering a just transition that combines both environmental and social sustainability. This is one of the many initiatives developed by Eni in the country following the Memorandum of Understanding signed with the Government in April 2022 to support the country’s energy transition with a wide range of activities. It includes the implementation of agribusiness, health, forestry, and technology initiatives, in cooperation with its partners; among them, the National Industrial Research and Development Agency, the Rwanda Development Board, the Ministry of Health, the Ministry of Finance and Economic Planning, and the Ministry of ICT and Innovation. •

NEWS - OIL AND GAS INDUSTRY NEWS FROM EIC Beacon Offshore Energy takes FID on Winterfell, offshore US Gulf of Mexico

Noting a growing trend of companies wanting to move toward vendors that offer holistic solutions, Verdantix reviewed 15 providers of energy management solutions around the world. “Schneider Electric’s EcoStruxure Platform, scoring highest both in capabilities and in momentum in this Green Quadrant report due to its comprehensive offering,” said Harry Wilson, industry analyst and lead author of the report. “The solution provides true end-to-end energy management, helping customers on their journey to net zero.”

final investment decision (FID) on the Winterfell field development has been taken by Beacon Offshore Energy (BOE). The field, operated by BOE’s subsidiary BOE Exploration & Production and located in the US zone of the Gulf of Mexico, will be developed as a subsea tie-back. The development plan includes the connection of Winterfell to the Heidelberg spar (operated by Anadarko Petroleum) through a 21km subsea tie-back. First oil is scheduled for the second quarter of 2024, with Winterfell’s three initial wells reaching a production of approximately 22,000 barrels of oil equivalent per day (boepd). Besides BOE’s operating stake (35.41%), the project is also owned by Kosmos Energy (25.04%), Westlawn GOM Asset 3 (15%), Red Willow Offshore (12.5%), Alta Mar Energy (7.55%) and CSL Exploration (4.5%). •

“The report’s findings showcase not only our commitment to delivering comprehensive solutions that drive electrification and digitalization — which together are the fastest route to net zero — but also our preparedness to serve as a trusted partner and consultant across every aspect of energy management,” said Olivier Blum, Executive Vice President, Energy Management at Schneider Electric. “We have identified a list of 10 tangible priorities for driving the decarbonisation buildings – with energy management software and data at the core of these actions – and it’s great to see external validation for our approach.” Verdantix highlighted Schneider Electric’s technological expertise, calling out the company’s ability to provide comprehensive packages that capture and combine data from both building management and power management solutions, and turning that data into actionable insights for customers. The report assessed several Schneider Electric products, including EcoStruxure Building Advisor, EcoStruxure Building Operation, EcoStruxure Microgrid Advisor, EcoStruxure Power Advisor, EcoStruxure Power Monitoring Expert, and EcoStruxure Resource Advisor. •

Schneider Electric Recognised as a Leader in Energy Management Software by Independent Research Firm

Construction Begins in Australia for 414MW Uungula Wind Farm

chneider Electric, the leader in the digital transformation of energy management and automation, earned the leader ranking in Verdantix’s recent “Green Quadrant: Energy Management Software 2023.” This recognition highlights Schneider Electric’s comprehensive capabilities and solutions and progressive approach to system integration. The global energy and climate crises have generated a surge of interest in energy management software, as organisations actively seek solutions to address energy price volatility and accelerate the decarbonisation of buildings and other facilities. Recognising this pressing need, Verdantix’s report, the first of its kind by the respected research and advisory firm, addresses the growing demand from real estate and facilities executives for information on high-quality energy management solutions. Buildings account for 37% of global carbon emissions, with 26% attributed to building energy consumption, according to the IEA Tracking Clean Energy Progress report. With digital solutions providing the fastest path to net zero, organisations that prioritise efficiency can make significant progress in tackling the climate and energy crisis while unlocking substantial cost savings.

quadron Energy has disclosed that the construction phase of its Uungula wind farm project has officially begun. The 414MW power plant is being built in New South Wales, Australia, and will feature 69 turbines capable of producing enough power to meet the demands of more than 220,000 homes. The facility, located 14km east of Wellington, will also include an energy storage element. GE Vernova is Uungula’s turbine supplier and engineering, procurement and construction (EPC) contractor. Uungula is calculated to avoid the emission of at least 560,000 tonnes of carbon per year once it’s operational. •

2024

IMPORTANT EVENTS CALENDAR

OSW O&M/ Health & Safety Summit 18.01.2024 - 19.01.2024 Virginia Beach https://offshorewindus.org/omhse/ AUVSI XPONENTIAL 2024 APRIL 22, 2024 - APRIL 25, 2024 San Diego, USA https://www.auvsi.org/events/xponential/xponential-2024 SPE Norway Subsurface Conference 17.04.2024 Bergen, Norway https://www.spe-events.org/norwaysubsurface

Offshore Technology Conference 1-4 May 2024 Houston, Texas, USA Global Energy Show 2024 Calgary, Canada June 13-15 June 2024 https://www.globalenergyshow.com SPE Oilfield Scale Symposium 05.06.2024 - 06.06.2024 Aberdeen, Scotland https://www.spe-events.org/oilfieldscale/welcome SPE Europe Energy Transition Conference 26.06.2024 - 28.06.2024 Turin, Italy

Carbon Capture Technology Expo & Conference North America 26.06.2024 - 27.06.2024 Houston, Texas https://www.ccus-expo.com Rio Oil & Gas 2024 09.09.2024 Rio de Janeiro World Hydrogen Week 30.09.2024 - 04.10.2024 Copenhagen https://www.worldhydrogenweek.com