Jov Onsat

Editor at Rigzone

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Articles

Mubadala Secures Its First Gas Production, Export Assets in US

1 week ago | rigzone.com | Jov Onsat

The United Arab Emirates’ Mubadala Investment Co. signed Thursday a deal with Kimmeridge Energy Management Company LLC to acquire a 24.1 percent stake in the United States asset manager’s SoTex HoldCo LLC. The purchase, via the issuance of new equity, will give sovereign investor Mubadala its first energy assets in the U.S., the companies said in a joint statement. They did not disclose the transaction price. Completion is subject to customary approvals.
Equinor Consolidates Power Assets into New Segment

1 week ago | rigzone.com | Jov Onsat

Equinor ASA said it will combine its renewable energy assets and flexible power assets into a new reporting segment, saying the change will better position it to capitalize on growing electricity demand. “Power demand continues to grow from electrification of society and industry, expansion of artificial intelligence and data centers”, the Norwegian majority state-owned company said in an online statement.
Malaysia, Vietnam to Extend Agreements on Border Fields

1 week ago | rigzone.com | Jov Onsat

Petroliam Nasional Bhd. (Petronas) and Vietnam Oil and Gas Group (Petrovietnam) have agreed to extend their production sharing contract (PSC) and upstream gas sales agreement (UPSA) for the PM3 Commercial Arrangement Area (CAA) for another 20 years.
Masdar Completes Acquisition of Greek RE Firm Terna Energy

1 week ago | rigzone.com | Jov Onsat

Abu Dhabi Future Energy Co. PJSC (Masdar) has completed its purchase of Greek renewable energy developer Terna Energy SA, which has an installed capacity of 1,224 megawatts (MW). State-owned Masdar initially acquired 70 percent of Terna Energy from Gek Terna SA and other shareholders last November. Masdar bought the remaining shares through a mandatory tender offer and squeeze-out that had a price of EUR 20 ($22.82) per share.
Britain Utility Regulator Opens Applications for New LDES Investment Scheme

2 weeks ago | rigzone.com | Jov Onsat

Britian’s Office of Gas and Electricity Markets (Ofgem) has opened applications under a new “cap and floor” scheme for so-called long-duration electricity storage (LDES) projects. The scheme seeks to produce the first LDES facilities in Britain in 40 years by easing hurdles such as high costs. Currently Britain has 2.8 gigawatts (GW) of LDES capacity, from four pumped storage hydro facilities in Scotland and Wales, according to Ofgem.
MidOcean to Invest in Lake Charles LNG

2 weeks ago | rigzone.com | Jov Onsat

Lake Charles LNG owner Energy Transfer LP has agreed non-binding terms for an investment by MidOcean Energy in the planned Louisiana project. Under the heads of agreement (HOA), MidOcean, part of EIG Global Energy Partners, will fund 30 percent of the construction cost. MidOcean will be entitled to receive 30 percent of the liquefied natural gas (LNG) production. That equates to about 5 million metric tons per annum (MMtpa), according to a joint statement Wednesday.
RE, Nuclear Generation Breached 40 Percent Last Year: Think Tank

2 weeks ago | rigzone.com | Jov Onsat

For the first time since the 1940s, global annual electricity production from renewable sources and nuclear energy surpassed 40 percent, reaching 40.9 percent in 2024, according to Ember Energy. Renewable power saw a 49 percent growth against 2023, adding a record 858 terawatt hours (tWh), the London-based think tank said in a report.
Aramco, Sinopec Plan Petrochemical Complex at Saudi Refinery Site

2 weeks ago | rigzone.com | Jov Onsat

Saudi Arabian Oil Co. (Aramco) and China Petroleum & Chemical Corp. (Sinopec) have signed a deal for the potential expansion of their Yanbu refinery to include petrochemical facilities. The “venture framework agreement”, signed in the 10th anniversary of Yanbu Aramco Sinopec Refining Co. (Yasref), “seeks to advance engineering studies for the development of a fully-integrated petrochemical complex”, the Saudi oil giant said in an online statement.
INPEX Forms JV for Greater Tokyo CCS Project

2 weeks ago | rigzone.com | Jov Onsat

INPEX Corp. and Kanto Natural Gas Development Co. Ltd. have established a joint venture (JV) to accelerate research and planning for a carbon capture and storage (CCS) project planned to serve industrial emitters in the Greater Tokyo Area.
Shell Starts Production at Dover in US Gulf

2 weeks ago | rigzone.com | Jov Onsat

Shell PLC has put onstream a second tieback to the Appomattox production hub on the United States side of the Gulf of Mexico. Dover, discovered 2018 in the deepwater Norphlet play, contributes 20,000 barrels of oil equivalent a day (boed) at peak, according to a statement Tuesday on the British energy giant’s United States website. Shell owns 100 percent of Dover through Shell Offshore Inc.