Oil & Gas News

The Gas Exporting Countries Forum (GECF) announces the launch of the fourth edition of its Annual Gas Market Report (AGMR). The Report provides an in-depth analysis of natural gas markets, covering recent developments and providing prospects for 2023-2024.

Aker BP and OMV (Norge) AS have entered into a collaboration agreement for carbon capture and storage (CCS) and have been awarded a license in accordance with the CO2 Storage Regulations on the Norwegian Continental Shelf (NCS).

Vahana Aryan, the flagship vessel of the Dubai-based Vahana Marine Solutions DMCC, has become the first jackup unit to receive DNV’s Abate-Ready notation. The Abate notation is designed to assist the owners and operators of offshore units to identify and implement measures which can lead to reductions in greenhouse gas (GHG) emissions.

Along the Norwegian coast, Northern Lights is the first cross-border value chain project to offer European industrial companies a solution for safely and permanently storing their CO2 emissions 2600 meters under the seabed. Operational from 2024, the Phase 1 installations are scheduled to come on stream in 2024, with the ability to handle 1.5 million tons of CO2 per year. Our ambition is to extend to 5 million tons by 2026. This project, the first of its kind worldwide, is a major milestone in the decarbonization of heavy industry in Europe.

Baker Hughes, an energy technology company, has announced an order to be booked in the first quarter of 2023 with longtime partner QatarEnergy to supply two main refrigerant compressors (MRCs) for the North Field South (NFS) project, which will be executed by Qatargas. The MRCs are part of two LNG “mega trains” representing 16 million tons per annum (MTPA) of additional capacity that is estimated to further boost Qatar’s LNG production capacity to 126 MTPA, helping to propel Qatar as a leader in global LNG production by 2027.

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