29 May 2024
29 May 2024
OPEC’s Secretary General Haitham Al Ghais said global demand growth expected to reach 2.2 million barrels per day in 2024.
The all-stock proposal could value Marathon Oil at slightly more than its market capitalisation of roughly $15bn.
The Norwegian Government projections have also raised the estimate for 2025 for investments in the country’s hydrocarbon operations, its biggest business sector.
This move aligns with Russian President Vladimir Putin's strategy to bypass Western financial systems amid US and European sanctions.
With an all-electric configuration, the two FPSO units, which are scheduled for commissioning in 2029, are designed to minimise greenhouse gas emissions.
The deal faces potential complications due to Exxon’s claim of a right of first refusal on Hess’ assets in Guyana.
Preliminary interpretations from well data confirm the presence of reservoirs with an approximate 200 metres gross thickness.
Subsea7 will be responsible for comprehensive range of services as well as provide production pipeline, among others.
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