27 November 2023
27 November 2023
bp wanted to export the gas from the field, but Senegal wants it for domestic use.
bp is the operator of the project, which can store up to 1.8 gigatonnes (Gt) of carbon dioxide (CO₂).
The three Greek companies operate more than 100 oil tankers, which have the capacity to move almost all of the exports from Russia’s European ports.
The oil and gas market has relatively stabilised following the fallout from the Russo-Ukrainian conflict, and crude oil has seen strong demand in the last two years.
The asset comprises multiple oil and gas accumulations around 150km north-east of Aberdeen.
The company will invest $73bn (358bn reais) in exploration and production (E&P) activities.
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Low-carbon hydrogen presents an attractive avenue for oil companies focussing on net-zero emissions. Green and blue hydrogen are the main types of low-carbon hydrogen alternatives, with the former still in the early stages of development with most of the upcoming projects around the world at the feasibility stage, and the latter could be an intermediate step for oil and gas companies before moving to green hydrogen. Of the nearly 1,500 hydrogen plants currently being built, about 90% are based on green hydrogen while 8% are based on blue hydrogen.
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