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Fossil Energy

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Financial close in place for $3.8 billion decarbonization project in UAE
Fossil Energy

Financial close in place for $3.8 billion decarbonization project in UAE

Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA) have completed the financial closing of what is said to be the first-of-its-kind subsea transmission network in the MENA region. The $3.8 billion strategic project is set to power and significantly decarbonize A

about 4 years ago
Energean - Abu Qir concession in Egypt.
Fossil Energy

Gas production starts from new well off Egypt

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E&P company Energean has announced a new gas production from the Abu Qir concession located offshore Egypt.

about 4 years ago
New Dutch donation to bridge funding gap, allowing UN to embark on salvage ops for ‘ticking timebomb’ in Red Sea
Fossil Energy

New Dutch donation to bridge funding gap for UN’s salvage ops in Red Sea

With additional funds from the Netherlands, the UN may be able to start the salvage operation to prevent a major oil spill in the Red Sea.

about 4 years ago
Stena Forth drillship
Fossil Energy

Chevron and partners prepare investment for Aphrodite gas field as Cyprus and Israel push for swift resolution of reservoir dispute

Oil major Chevron and its partners in the Aphrodite gas field off Cyprus have allocated funds for the drilling of an appraisal well and other development costs for the project.

about 4 years ago
Aramco CEO calls for ramp up of oil & gas investments and ‘more credible’ transition plan to tackle energy security challenges
Fossil Energy

Aramco CEO calls for investments in oil & gas and ‘more credible’ energy transition plan

Ramp-up of oil & gas investments and a new energy transition plan are required for a secure and sustainable energy future, says Aramco’s CEO.

about 4 years ago
Two contrasting scenarios depict challenges on the road to decarbonisation amid energy crisis
Fossil Energy

Two contrasting scenarios depict challenges to net-zero by 2050 amid energy crisis

A new report outlines challenges for the long-term energy transition outlook as the global energy crisis unfolds.

about 4 years ago
In focus: Don’t let a good energy crisis go to waste
Fossil Energy

In focus: Don’t let a good energy crisis go to waste

The volatility within the energy market has forced nations to look inward for solutions to this global issue and cut their reliance on energy imports or diversify their sources of supply. Looking longer-term, if this approach becomes a policy and not a one-off solution to a one-off problem, this kin

about 4 years ago
Energean Power FPSO
Fossil Energy

Energean weeks away from delivering first gas from Karish

Energean is on track to deliver the first gas from the Karish gas project located offshore Israel within weeks.

about 4 years ago
ARO’s 20-rig newbuild programme fires Valaris’ enthusiasm for growth prospects
Fossil Energy

Valaris excited by growth prospects as ARO explores financing options for 20 newbuilds

Valaris has expressed its excitement over growth prospects arising out of a 20-rig newbuild programme, which ARO Drilling is pursuing.

about 4 years ago
To ramp up production at Lower Zakum, ADNOC hands out $548 million deal for new main gas line
Fossil Energy

To ramp up gas production at Lower Zakum, ADNOC hands out $548 million deal

UAE’s ADNOC Offshore has awarded a $548 million contract for a new main gas line at its Lower Zakum field offshore of Abu Dhabi.

about 4 years ago
In focus: Emerging renewable energy projects to cushion effects of global energy crisis
Fossil Energy

In focus: Emerging renewable energy projects to cushion effects of global energy crisis

With the global energy crisis unfolding and energy prices soaring, governments and companies are ramping up investments in renewables, energy efficiency and clean technologies.

about 4 years ago
West Ariel rig - Seadrill
Fossil Energy

Seadrill to sell seven jack-up rigs for $628 million

Seadrill has entered into a binding share purchase agreement with ADES to sell the legal entities that own and operate seven jack-ups in Saudi Arabia.

about 4 years ago
UAE oil & gas giant hands out five ‘largest-of-its-kind’ drilling deals worth $1.83 bln
Fossil Energy

UAE oil & gas giant hands out five ‘largest-of-its-kind’ drilling deals

UAE’s ADNOC has awarded framework deals described as “largest-of-its-kind” totalling $1.83 bln for drilling-related services to five firms.

about 4 years ago
An image mapping North Sea Energy Island in Denmark
Fossil Energy

In focus: The X factor of Power-to-X

While the world is working toward having as much renewable energy as possible, green fuels and energy storage could be what saves the day, at least for energy-intensive industries. News on hydrogen and ammonia projects, and renewable energy developments with Power-to-X components this week certainly

about 4 years ago