Hess Corp. inked a long-term strategic partnership with the government of Guyana to purchase carbon credits as part of a plan to prevent deforestation and support sustainable development in one of the world’s most heavily forested regions.
As of 2020, 11 major Asia Pacific (APAC) countries were responsible for 52% of global CO2 emissions, and they’re expected to continue increasing through 2030, according to Goldman Sachs.
Global manufacturing company INEOS inked a 20-year contract to source 1.4 mtpa of LNG from Phase 1 of Sempra Infrastructure’s Port Arthur LNG facility under development in Texas and an HOA for an additional 0.2 mtpa from Phase 2.
ConocoPhillips and QatarEnergy signed two agreements to ship Qatari-produced LNG to Germany starting in 2026, helping to fill the energy supply gap created in that European country by reduced gas flows from sanctioned Russia.
Frontera Energy, CGX Energy and the Guyana government have agreed to a timeline that will see the two IOCs drill the Wei-1 well in the Corentyne Block offshore no later than Jan. 31.
APA Corp. and TotalEnergies, joint venture partners offshore Suriname in Block 58, deemed the Awari exploration well non-commercial but are eager to start flow-test operations at the Sapakara South-2 (SPS-2) appraisal well, Houston-based APA reports.
New Fortress Energy agreed with state-owned Pemex for the continued development of the deepwater Lakach Field as well as deployment of a 1.4 mtpa FLNG unit to commercialize the bulk of the production abroad.
Recently formed Permian Resources isn’t averse to looking at value propositions but at the moment the company is focused on driving synergies and creating shareholder value, Co-CEO Will Hickey told attendees of Hart Energy’s Executive Oil Conference.
Gas production from the Permian Basin has already surpassed pre-pandemic highs and is slated to rise 41% by 2030 compared to current levels, according to Rystad Energy data.
Rystad Energy foresees investments offshore Suriname reaching $23 billion through 2031 driven by activities in Block 58 while it says political uncertainties continue to muddy the outlook for Venezuela.
