BP, one of the world’s largest energy companies, has made a surprising announcement regarding the resignation of CEO Bernard Looney, effective immediately. This unexpected development comes in light of Bernard Looney’s failure to provide complete disclosure of his past personal relationships with colleagues. BP has confirmed that Chief Financial Officer Murray Auchincloss, aged 52, will step in as interim CEO during this transitional period.

Bernard Looney, aged 53, assumed the role of CEO in February 2020, with a bold commitment to reshape the 114-year-old company. His vision included ambitious plans for BP to achieve net-zero emissions by 2050, coupled with substantial investments in renewable and low-carbon energy sources, as reported by Reuters. The abrupt resignation of Bernard Looney follows recent allegations of personal relationships with colleagues within the organization. These allegations prompted BP to initiate an internal investigation into the matter, which was reminiscent of a similar probe conducted by the board in May 2022. During the prior review, Bernard Looney had disclosed “a small number of historical relationships with colleagues that occurred before he assumed the role of CEO.” At that time, no violations of the company’s code of conduct were uncovered, and the board had received assurances from Bernard Looney regarding the disclosure of his past personal relationships and his commitment to future conduct. However, on Tuesday, Bernard Looney informed BP’s board that he had not provided full details of all his past relationships, ultimately leading to his resignation.

Drilling Systems, a globally renowned provider of cutting-edge drilling simulation technology, and a subsidiary of the 3t Energy Group, a leader in training, technology, and simulation solutions, has introduced an advanced DrillSIM Downhole model designed to facilitate authentic training for geothermal applications.

This innovative model has been successfully integrated for the first time at the Drilling Simulator Celle (DSC), a research facility under Clausthal University of Technology (TUC) located in Germany. Building upon the accomplishments of the DrillSIM simulator in actual operations, this next-generation downhole model is set to elevate the research and development capabilities of both new and existing DrillSIM simulators. It will empower trainees to practice intricate procedures like directional drilling, monitoring pressure changes (kick tracking), and addressing stuck pipe scenarios within an exceptionally lifelike and intricately detailed virtual environment. The enhanced features of this model encompass heightened real-world data integration, an advanced thermal and dynamic design, simulation of drill string vibrations, representation of complex 3D well paths, and a heightened emphasis on replicating the transportation of cuttings typically encountered in deep drilling operations.

Eni has commenced the extraction of oil and gas from the Baleine Field situated in the offshore waters of Côte d’Ivoire. This significant achievement has been realized in under two years since the initial discovery in September 2021, and in less than a year and a half after the Final Investment Decision was made. Notably, this venture represents Africa’s inaugural emissions-free production project for Scope 1 and 2 emissions. Baleine Field presently stands as the largest hydrocarbon find within the Ivorian sedimentary basin.

The accelerated time-to-market was facilitated through Eni’s strategic phased development approach, a hallmark of recent projects, with close collaboration from partner Petroci. In its initial phase, production is being carried out via the Baleine FPSO, a refurbished and enhanced Floating Production Storage and Offloading unit designed to accommodate up to 15,000 bbl/d of oil and roughly 25 Mscf/d of associated gas. The commencement of Phase 2 is anticipated by the conclusion of 2024 and is set to elevate field production to 50,000 bbl/d of oil and around 70 Mscf/d of associated gas. The third developmental phase has aspirations to further raise field production to an impressive 150,000 bbl/d of oil and 200 Mscf/d of gas. In this development stage and those that follow, the complete gas output from the Baleine Field will be transported onshore through a newly constructed pipeline. This strategic infrastructure will empower the nation to fulfill its domestic electricity requirements, enhance energy accessibility, and solidify its position as a regional energy hub for neighboring nations.

Sarawak Shell Berhad (SSB), a Shell plc subsidiary, has made an announcement regarding the commencement of gas production at the Timi platform in Malaysia. This operation falls under the SK318 production sharing contract (PSC).

The Timi platform stands out as Shell’s pioneering wellhead platform in Malaysia, uniquely powered by a hybrid system that combines solar and wind energy. This unmanned platform offers significant cost advantages due to its approximately 60% lower weight compared to conventional tender-assisted drilling wellhead platforms, which rely on traditional oil and gas power sources. Zoe Yujnovich, Shell’s Director of Integrated Gas and Upstream, expressed, “The activation of this project exemplifies our unwavering commitment to performance, precision, and streamlining. It underscores our capacity to introduce innovative solutions and deliver secure, dependable, and eco-friendly ventures that contribute to Malaysia’s balanced energy transition.” Timi’s configuration allows for the potential production of up to 50,000 barrels of oil equivalent per day in gas at its peak operational capacity. The gas will be transported through a newly established 80-kilometer pipeline to the F23 production hub. This initiative is geared towards fostering future expansion in the central Luconia region, located off the shore of Sarawak. Shell takes great pride in its extensive and fruitful track record within Malaysia. Operating under the guidance of Malaysia Petroleum Management, PETRONAS, Shell remains dedicated to bolstering the nation’s economic advancement and facilitating its energy transition endeavors by means of competitive and resilient investments.

Saipem has secured two fresh contracts for offshore Engineering and Construction (E&C) endeavors in Europe, specifically in Romania and Germany. These contracts hold a combined value of approximately 1.8 billion euros. The first contract pertains to the Neptun Deep Gas Developmen Project situated in the Black Sea off the coast of Romania. OMV Petrom completed the award procedure for this project.

The project’s scope encompasses the Engineering, Procurement, Construction, and Installation (EPCIC) of several components. These include a gas processing platform located at a water depth of around 100 meters, three subsea developments situated at different water depths (about 1000 meters in the Domino field and around 100 meters in the Pelican field), a 30” gas pipeline stretching approximately 160 km, and a corresponding fiber optic cable connecting the shallow water platform to the Romanian coast. The fabrication of the gas processing platform will take place in Saipem’s facilities in Italy and Indonesia. The offshore operations will be conducted using the Saipem 7000 and JSD 6000 vessels. Technological tests and material analyses for the project will be carried out in Romania through Saipem’s local entity in Ploiesti. The second contract awarded to Saipem comes from GASCADE Gastransport GmbH and involves executing the pipelaying for the “Ostsee Anbindungsleitung” in the Pomeranian Bay, located in northeastern Germany. Saipem’s responsibilities include the transportation and installation of a 48” gas pipeline spanning around 50 km. This pipeline will run from the Lubmin site in northern Germany, situated on the Baltic Sea, to the Mukran port along the east coast of Rügen island. Saipem will also be constructing landfalls as part of this project, utilizing their pipelay barge known as Castoro 10. The “Ostsee Anbindungsleitung” project is scheduled for commissioning in early 2024.

ExxonMobil, the prominent US energy corporation headquartered in Spring, Texas, has recently unveiled its forward–looking estimates. These projections entail a delivery of around 600,000 barrels of oil equivalent per day (boed) by the year 2023, with an ambitious target of achieving a significant milestone of one million boed by 2027. Notably, Exxon has demonstrated notable growth in specific regions, marking a 20 percent rise in production compared to the preceding year. In the prolific Permian Basin, their production soared to a remarkable 620,000 boed, while a similar milestone was achieved in Guyana during the second quarter of 2023. Expressing his contentment with the company’s achievements in the Permian region, Darren Woods, the Chairman and CEO of ExxonMobil, highlighted that the strategic initiatives they set in motion in 2019 have translated into unparalleled production levels during this quarter. Moreover, Woods underscored that their overall production growth for the current year is anticipated to hover around 10 percent. However, he acknowledged the non–linear nature of their growth trajectory due to the intricate balance required to optimize capital efficiency, resource recovery, and production rates. Ultimately, Woods emphasized that ExxonMobil’s primary emphasis remains on driving value, rather than singularly fixating on volume expansion.

A significant milestone has been reached as the campaign to set up the initial of 277 turbines at the largest offshore wind farm globally gains momentum. This achievement not only marks a substantial leap in the industry but also accelerates the transition towards a more environmentally sustainable and secure energy system. The towering turbines, standing at a remarkable height of 260 meters – nearly twice as tall as the London Eye – are being erected approximately 80 miles off the Yorkshire coastline. This monumental task is carried out using a specialized vessel known as the ‘Voltaire,’ boasting an impressive lifting capacity of 3,200 tonnes, making it the largest of its kind globally.
The scale of the Dogger Bank Wind Farm is awe–inspiring, spanning an area almost equivalent to Greater London and occupying a seabed that once served as a land bridge connecting the UK and Europe. Upon its full completion, this wind farm will possess an installed capacity of 3.6GW of renewable electricity – more than two and a half times larger than the next largest offshore wind farm. Its clean energy output will be substantial, generating enough power to supply approximately 6 million homes annually. The commencement of the campaign to install GE Renewable Energy’s 13MW Haliade–X turbines, among the largest and most potent globally, stands as a pivotal moment for this groundbreaking project. Spearheaded by UK developer SSE Renewables in collaboration with Norway’s Equinor and Vårgrønn (a joint venture between Eni Plenitude and Hitec Vision), this project is shaping up to be a significant achievement. Notably, the installation vessel, named the Voltaire and belonging to Jan de Nul, holds the distinction of being the largest offshore jack–up installation vessel ever constructed. It’s worth highlighting that the Voltaire also claims the title of being the first ultra–low emission ship of its kind, underscoring the commitment to environmentally friendly practices.

Snam has become a corporate partner of Tech4Planet, the National Technology Transfer Hub created two years ago by CDP Venture Capital to facilitate market access and support the growth of new enterprises focused on environmental sustainability, originating from research laboratories. “We believe that we can bring significant added value by actively participating in the partnership and providing access to the innovations we are developing within the company, which could lead to scale-ups or future collaborations,” said Pere Margalef Valldeperez, SVP Decarbonization Technology Solutions, who Snam has appointed as its expert within the Scientific Advisory Committee of Tech4planet.
Tech4Planet invests in scientific research projects born within universities, with a focus on energytech, circular economy, sustainable manufacturing, smart mobility, and water management. The hub involves industrial players in the energy sector. Snam’s contribution will primarily concentrate on energytech to support projects of new startups developing innovative solutions or services for energy sustainability. As a result, Snam will have access to the Tech Incubation phase through participation in PoCs (Proofs of Concept – prototyping) and Business Creation, with the goal of evaluating new businesses by analyzing the startup’s business plan and business model.
Currently, there are five National Technology Transfer Hubs operating nationwide, each focused on a specific market: RoboIT for Robotics and Industrial Automation, Extend for the development of new therapeutic approaches in the biopharmaceutical sector, Galaxia for new enterprises in the Aerospace industry, Farming Future for AgriFood Tech, and Tech4Planet for environmental sustainability. Snam will have a privileged observatory on new opportunities and will be able to coinvest in startups selected by the hub.

Illimity Bank has conducted a complex operation to support Micoperi, the leading Italian private operator in offshore Oil&Gas services, along with the Bartolotti family, the controlling shareholder. The investment aims to optimize Micoperi’s capital structure in the strategic energy sector. Illimity becomes the sole banking partner for the group. As the new partner, illimity plans to assist Micoperi’s global development with a diverse range of financial products. Micoperi has been active for 77 years in the Oil&Gas sector, specializing in platform installation, maintenance, and decommissioning, as well as underwater pipeline construction for international clients. The company’s recent achievements include successfully recovering the Costa Concordia in 2014. Under the Bartolotti family’s control since 1996, Micoperi operates with a versatile fleet of 15 vessels, engaging in sustainable practices and expanding into offshore wind farms. The new industrial plan, supported by illimity, aims to capitalize on global opportunities, projecting increased production value in the coming years.

A nuclear power plant in Georgia has started operations, marking the first activation of a nuclear reactor in the USA since 2016. The newly connected unit at Plant Vogtle has a capacity of 1,114 megawatts, contributing to the nation’s total power generation of 95,881 MW from 93 commercial reactors. Once all four units at Plant Vogtle are online, it will become the largest generator of clean energy in the USA. The new reactor uses advanced technology, and its completion faced delays and cost overruns, with the total cost estimated at over $30 billion. Despite some nuclear reactors retiring, there is growing interest in nuclear power to reduce the carbon footprint of the electric power sector. Recent legislation supports U.S. nuclear energy as part of a clean energy portfolio.