Acacia acquires controlling stake in Benchmark Energy
Benchmark’s existing lead investor, McArron Partners, will retain its investment in the oil and gas company.
14 November 2023
14 November 2023
Benchmark’s existing lead investor, McArron Partners, will retain its investment in the oil and gas company.
The Barnett Zero carbon capture and storage (CCS) facility will have an average sequestration rate of up to 210,000 tonnes (t) of carbon dioxide (CO₂)-equivalent annually.
Ocean Installer and Petro will undertake umbilical recovery and reinstallation work on the Pazflor FPSO.
Mach expects the oil and gas assets to boost its existing output by around 32,000 barrels of oil equivalent (boepd) per day.
Red Sky intends to sell all crude produced from the Killanoola oil field to Viva Energy Australia.
Baker Hughes will supply gas compression equipment including electric motor drives for the LNG terminal.
Covering an area of 18,500km², PEL 93 comprises blocks 1717 and 1817.
Tanzania is estimated to hold recoverable natural gas resources of around 57.54 trillion cubic feet (trcf).
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GHG emissions generated by O&G operations accounted for 15% of total energy-related emissions worldwide in 2022. A further 40% of such emissions came from the use of oil and gas for power generation, heating, vehicle fuel, and industrial processes. Only 6 companies have targets covering Scope 3 emissions. To reduce Scope 3 emissions, O&G companies are switching their products to lower-carbon sources of energy including hydrogen, LNG, biofuels, and renewables.
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