29 February 2024
29 February 2024
Carbon capture technology has been hailed as a revolution that will accelerate decarbonisation. Kit Million Ross explores advances in carbon capture, utilisation and storage (CCUS) technology and policy that are exciting the industry.
This sale and purchase agreement (SPA) builds upon an existing liquefied natural gas (LNG) purchase agreement between the two companies, which will continue until 2029.
The move comes after previous potential buyers withdrew their interest.
DeepOcean said the work will be carried out by the Superior Survey remotely operated vehicle (ROV).
Petronas stated that the gas supply from these fields is crucial for regional energy security and will encourage the development of similar fields.
On 23 February, the US Government sanctioned Russian company Sovcomflot for violating the G7’s price cap on Russian oil.
The selected projects will develop plans for new hydrogen production plants for eventual industrial use.
The field is estimated to hold recoverable resources of 3.1 million standard cubic metres of oil equivalent.
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