Subsea 7 has announced securing a substantial contract, valued between USD 300 million and USD 500 million, from Woodside. Woodside, acting as the operator for the Scarborough Joint Venture, has entrusted Subsea 7 with the Scarborough project, situated around 380km offshore in North West Australia. This project encompasses a comprehensive scope of work, including the engineering, procurement, construction, and installation (EPCI) of subsea pipelines and production systems. The development plan involves installing 45 kilometres of rigid flowlines, six flexible flowline risers, 42 kilometres of umbilicals, and eight trees, along with other necessary subsea equipment, in water depths of about 950 metres.

The Subsea Integration Alliance, a strategic global collaboration between Subsea 7 and OneSubsea (a division of Schlumberger specializing in subsea technologies, production, and processing systems), will spearhead this project. This alliance, formed during the initial front-end engineering and design phase in January 2019, is now set to progress into the full EPCI phase. The project management and engineering activities will be conducted in Perth, Australia, supported by Subsea 7’s Global Project Centre in Malaysia, the UK, France, and various OneSubsea offices.

The offshore operations for this project are scheduled between 2023 and 2025, utilizing Subsea 7’s advanced reel-lay and flex-lay vessels. This alliance combines expertise in field development planning, project execution, and comprehensive lifecycle solutions, backed by a broad technology and service portfolio.

Eni and Saipem have recently entered into a partnership aimed at advancing biorefining technology. This collaboration, formalized on November 6 through an agreement signed by Giuseppe Ricci, Eni’s Chief Operating Officer for Energy Evolution, and Alessandro Puliti, CEO of Saipem, is set to revolutionize the traditional refinery sector and foster the growth of new Eni biorefineries. Aligned with both companies’ commitment to decarbonization, the agreement focuses on the exploration and potential establishment of facilities dedicated to producing sustainable aviation fuel, biojet, and HVO diesel – a biofuel made entirely from renewable sources in compliance with the EU Directive 2018/2001 “REDII”.

HVO diesel, marketed by Eni under the brand name HVOlution, is versatile, suitable for road, naval, and rail transport. This partnership will leverage Eni’s proprietary Ecofining technology, which has already been successfully implemented in converting two conventional refineries into biorefineries in Venice Porto Marghera and Gela, Sicily. These facilities now process waste feedstocks like used cooking oil, animal fats, and residues from the agro-food industry, utilizing Ecofining technology. Saipem’s role in this initiative is crucial, bringing its unique design and construction expertise to the table, having already contributed to the success of the projects in Venice and Gela.

Shell Egypt NV has recently made a notable gas discovery in the North East El-Ammiya block, located in the Mediterranean Sea off the coast of Egypt. This discovery, achieved at a depth of around 820 feet in the offshore Nile Delta, is a promising development in the region’s gas exploration. However, further analysis is required to fully assess the discovery’s size and extraction potential. In a strategic collaboration, Shell and Kuwait Foreign Petroleum Exploration Company (KUFPEC) are jointly advancing this project. KUFPEC has acquired a 40% stake in the block, reinforcing its commitment to expanding its offshore portfolio in Egypt. In a related development, KUFPEC’s subsidiary announced an oil discovery in the Geisum and Tawila West Concession in the Gulf of Suez. This discovery, made through the GNN-11 exploration well, is significant as it marks the first time oil has been found in the Nubia formation in this area.

The well is already producing over 2,500 barrels of oil per day, substantially increasing the overall production of the asset. These discoveries by Shell Egypt and KUFPEC represent major advancements in Egypt’s offshore energy sector. They not only underscore the fruitful collaboration between international energy companies and the Egyptian government but also highlight the potential of the Mediterranean Sea and the Gulf of Suez as key areas for future energy exploration and development. This progress is pivotal for Egypt’s energy landscape, promising to enhance the country’s energy independence and economic growth.

Petrobras has announced a new quarterly record in its operated oil and gas production for the third quarter of the year, achieving an impressive 3.98 million barrels of oil equivalent (boe) per day, marking a 7.8% increase from the second quarter. Additionally, the company set a new monthly production record in September, reaching 4.1 million boe per day, which is 6.8% higher than the production in August. This significant increase in production is primarily attributed to the ramp-up of several platforms. These include the Almirante Barroso platform in the Búzios field and the P-71 platform in the Itapu field, both located in the pre-salt layer of the Santos Basin. Additionally, the Anna Nery and Anita Garibaldi units in the Marlim and Voador fields, situated in the Campos Basin, contributed to this growth.

A contributing factor to this record-breaking performance was the reduced number of maintenance shutdowns on the platforms during this period. This achievement in monthly operated production coincided with a record month in the pre-salt layer, where Petrobras reached 3.43 million boe in September. Moreover, Petrobras reported an accumulated production exceeding 27 billion boe in the third quarter. The company is poised for further growth with the FPSO Sepetiba in the Mero field slated to begin production by the year’s end, marking the deployment of five platforms within a 12-month span.

Exxon Mobil Corporation has announced its ambition to become a prominent lithium producer, a critical element in electric vehicle (EV) batteries. The company has initiated the first phase of its lithium production project in southwest Arkansas, a region with substantial lithium reserves.

This new venture will be marketed under the name Mobil Lithium, leveraging Mobil’s longstanding and deep technical collaboration with the automotive sector. In early 2023, ExxonMobil secured rights to approximately 120,000 acres in the Smackover formation in southern Arkansas, recognized as one of North America’s most abundant lithium sources. Southwest Arkansas, traditionally known for its oil and natural gas production, boasts a well-understood geological landscape.

ExxonMobil is collaborating with local and state authorities to facilitate the growth of Arkansas’ nascent lithium industry.

Kinder Morgan is set to acquire the South Texas assets of NextEra Energy Partners, known as STX Midstream, for a total of $1.815 billion. This acquisition includes a comprehensive pipeline system, primarily consisting of large, high-pressure natural gas pipelines. These pipelines are strategically positioned, connecting the Eagle Ford basin to significant demand areas in Mexico and the Gulf Coast. A key component of STX Midstream is its 90% stake in the NET Mexico pipeline, with the remaining 10% owned by MGI Enterprises, an affiliate of PEMEX. Additionally, STX Midstream operates the Eagle Ford Midstream, a 158-mile pipeline that links the Eagle Ford basin to the Agua Dulce Hub in Nueces County, Texas. This pipeline is interconnected with several major systems, including Kinder Morgan’s own Tennessee Gas Pipeline, Kinder Morgan Tejas Pipeline, and the Natural Gas Pipeline Company of America.

STX Midstream also holds a 50% interest in Dos Caminos LLC, a joint venture with Howard Energy Partners (HEP), who manages the operation and owns the other half. Dos Caminos recently launched a 62-mile pipeline, bridging HEP’s existing midstream infrastructure in Webb County, Texas, to Kinder Morgan’s newly operational Eagle Ford pipeline. The portfolio of assets involved in this deal is notable for its long-term stability, featuring an average contract duration of over 8 years. A significant portion, approximately 75%, of the business is underpinned by take-or-pay contracts, ensuring a steady revenue stream.

TotalEnergies has finalized deals to purchase Quadra Energy, a leading German firm owned by the Aloys Wobben Foundation (AWS), marking a significant expansion in the renewable energy sector. Established in 2012, Quadra Energy operates a substantial “virtual power plant” with a capacity of 9 GW, positioning it as one of Germany’s top three renewable energy aggregators. Germany not only has the largest electricity market in Europe but also the fastest-growing renewable energy sector. Quadra Energy’s core business is the aggregation of renewable energy, having procured output from approximately 5,000 wind and solar installations in 2022. It successfully sold 14 TWh of this energy to wholesale markets, German resellers, and direct customers.

Additionally, since 2021, Quadra Energy has been building a portfolio of medium-term agreements for buying 2 TWh of renewable energy, which it then sells through corporate Power Purchase Agreements (PPAs). Pending regulatory approval, this acquisition is set to bolster TotalEnergies’ integrated power operations within Germany. The company plans to capitalize on the expertise of Quadra Energy’s 40-strong workforce and its cutting-edge weather prediction technology. These resources will enhance TotalEnergies’ trading capabilities in the intraday markets and expand its marketing efforts, providing German clients with competitive corporate PPAs and reliable, clean energy. Moreover, Quadra Energy’s comprehensive understanding of the local renewable energy landscape will facilitate TotalEnergies in growing its own renewable energy production, building on its recent acquisition of a 3 GW offshore wind project in July.

Westinghouse Electric Company, in collaboration with its construction ally Bechtel, has put forward a proposal to provide the Czech Republic with up to four AP1000 reactors, which represent the pinnacle of safe and modern nuclear technology. The offer includes the construction of one AP1000 reactor at the Dukovany nuclear facility, with the possibility of adding another there and two more at the Temelin site. Since 1993, Westinghouse has been intricately involved with the Czech nuclear sector, initially by delivering sophisticated Instrumentation & Control systems to the Temelin plant.

This partnership has fostered a growing local supplier network. From 2024 onwards, Westinghouse is set to become the exclusive Western provider of nuclear fuel for the Dukovany and Temelin sites, catering to countries that operate older Russian nuclear reactors. The joint approach by Westinghouse and Bechtel to engage the local supply chain is expected to broaden the scope for Czech companies to engage in the nuclear project. The adoption of AP1000 technology in neighboring regions is anticipated to enhance the Czech nuclear industry’s dynamics, offering local suppliers more opportunities to contribute to projects across Central and Eastern Europe. Notably, the Polish government has chosen the AP1000 reactor for its inaugural nuclear energy initiative. Similarly, Bulgaria has opted for AP1000 technology for new units at the Kozloduy site, and Ukraine plans to construct nine AP1000 units across various locations. The AP1000 stands out as the sole operational Generation III+ reactor that boasts entirely passive safety systems, a modular construction approach, and the most compact design per megawatt-electric (MWe) available in the market.

Subsea7 has been awarded a significant contract modification by Petrobras, valued at over $750 million, for the expansion of the Mero 4 field. This field is situated roughly 200 kilometers from Rio de Janeiro, Brazil, in the Santos basin’s pre-salt area, with a water depth of 2,200 meters.

The contract’s details were initially disclosed in a censored format on September 27, 2023, and it was included in Subsea7’s third-quarter backlog for the same year. The revised contract encompasses the engineering, procurement, construction, installation, and pre-commissioning of 76 kilometers of rigid risers and pipelines, which are part of the steel lazy wave production system. Subsea7 will begin project management and engineering work without delay at its offices in Rio de Janeiro and Paris. The pipeline fabrication will occur at Subsea7’s spoolbase in Ubu, Espirito Santo state. The offshore installation activities are planned for the years 2025 and 2026.

China’s Bomesc Offshore Engineering Company has inked a $220 million agreement to participate in an offshore oil and gas project in Qatar with Servizi Energia Italia, a subsidiary of Saipem, the Italian multinational oil field services provider. This move underscores China’s growing interest in Middle Eastern energy endeavors. The Tianjin-based engineering, procurement, and construction firm will be responsible for constructing the compression facility for an oil and gas field situated off the northern coast of Qatar on behalf of Servizi Energia Italia, an industrial machine manufacturer. This deal aims to enhance Bomesc’s economic performance in the coming years, as reported by the Chinese state-owned financial news agency, Yicai Global. In October of the previous year, Saipem disclosed that it had secured a $4.5 billion contract with Qatargas (now QatarEnergy). According to the terms of the contract, Saipem will lead the engineering, procurement, fabrication, and installation of two offshore natural gas compression complexes off the northeast coast of Qatar.

This agreement stands as Saipem’s “largest single offshore contract by total value in the company’s history,” as stated in the October 2022 press release. Bomesc has experienced a 42% decrease in earnings for the first half of the year, amounting to 900 million yuan ($125 million). This drop is attributed to supply chain challenges, a lack of orders, and high labor costs, as noted by the energyfocused online news platform, Upstream. Bomesc, alongside other Chinese energy companies, has exhibited a strong interest in the Middle East, particularly in Qatar, as part of their efforts to regain profitability within the energy and LNG sector. QatarEnergy, Qatar’s majority-state-owned petroleum company, previously entered into a 27-year agreement with the China National Petroleum Corporation in June to supply 4 million tons of LNG annually. In April, the Chinese oil giant Sinopec acquired a stake in Qatar’s North Field East, which has an annual capacity of 8 million tons, according to the Qatar News Agency. Qatar has expressed its intent to sign a record volume of long-term LNG contracts and is looking to engage with Asian countries to achieve this goal, according to a statement made by Energy Minister Saad al-Kaabi in July. Qatar is already one of the world’s leading LNG exporters and has set a target of supplying 40% of the world’s LNG output by 2029.