[ Oil & Gas ] developing its offshore Zama oilfield , for which the French company DORIS will supply two offshore platforms , 68 km of pipelines and cables , and a new onshore facility . In Argentina , TotalEnergies and Wintershall Dea have started drilling in the Fénix field offshore Tierra del Fuego and are planning three development wells . In North America , Shell made the Final Investment Decision to develop the Sparta deepwater gas field in the Gulf of Mexico . The semi-submersible FPU will be built by Seatrium . Another region that is evolving rapidly is Africa . In Equatorial Guinea , a number of projects are under way , and Guinea Chevron signed a production-sharing deal with GEPetrol for two offshore blocks . TotalEnergies has green-lighted the Ubeta gas field onshore Nigeria , with start-up envisaged for 2027 . Angola is attracting investment with a series of licensing rounds , the most recent of which offered 55 blocks for exploration and development . Among the investors are Chevron , TotalEnergies and ExxonMobil , as well as a local producer , Sonangol . In Senegal , Woodside has achieved first oil from its Sangomar field . Two relative newcomers are Morocco , which will see the development of the Loukos gas field , operated by Chariot , and Namibia , which is believed to possess abundant hydrocarbon resources yet to be explored . In 2022 TotalEnergies discovered the Venus-1 oilfield , the largest ever Sub-Saharan oil find . Shell has also discovered oil in the Orange basin , as has the Portuguese company Galp , while BP is among those exploring . But these recent discoveries are part of the above-mentioned dilemma : exploiting these undeveloped resources risks breaching climate accords 3 , but denying relatively poor countries these economic opportunities seems unfair . In Europe , the big news is that Norway ’ s Equinor has approved 19 new oil and gas developments totalling a value of USD18.5 billion . These include Aker BP ASA ’ s Yggdrasil and Valhall PWP og Fenris in the North Sea and Equinor ASA ’ s Irpa in the Norwegian Sea . In Asia , the news is led by Petronas ’ s numerous discoveries off the coast of Malaysia . As a result , the company has signed agreements to exploit two blocks off the coast of Sarawak . Further south , New Zealand has announced it will lift its ban on offshore exploration , citing
[ Oil & Gas ] developing its offshore Zama oilfield , for which the French company DORIS will supply two offshore platforms , 68 km of pipelines and cables , and a new onshore facility . In Argentina , TotalEnergies and Wintershall Dea have started drilling in the Fénix field offshore Tierra del Fuego and are planning three development wells . In North America , Shell made the Final Investment Decision to develop the Sparta deepwater gas field in the Gulf of Mexico . The semi-submersible FPU will be built by Seatrium . Another region that is evolving rapidly is Africa . In Equatorial Guinea , a number of projects are under way , and Guinea Chevron signed a production-sharing deal with GEPetrol for two offshore blocks . TotalEnergies has green-lighted the Ubeta gas field onshore Nigeria , with start-up envisaged for 2027 . Angola is attracting investment with a series of licensing rounds , the most recent of which offered 55 blocks for exploration and development . Among the investors are Chevron , TotalEnergies and ExxonMobil , as well as a local producer , Sonangol . In Senegal , Woodside has achieved first oil from its Sangomar field . Two relative newcomers are Morocco , which will see the development of the Loukos gas field , operated by Chariot , and Namibia , which is believed to possess abundant hydrocarbon resources yet to be explored . In 2022 TotalEnergies discovered the Venus-1 oilfield , the largest ever Sub-Saharan oil find . Shell has also discovered oil in the Orange basin , as has the Portuguese company Galp , while BP is among those exploring . But these recent discoveries are part of the above-mentioned dilemma : exploiting these undeveloped resources risks breaching climate accords 3 , but denying relatively poor countries these economic opportunities seems unfair . In Europe , the big news is that Norway ’ s Equinor has approved 19 new oil and gas developments totalling a value of USD18.5 billion . These include Aker BP ASA ’ s Yggdrasil and Valhall PWP og Fenris in the North Sea and Equinor ASA ’ s Irpa in the Norwegian Sea . In Asia , the news is led by Petronas ’ s numerous discoveries off the coast of Malaysia . As a result , the company has signed agreements to exploit two blocks off the coast of Sarawak . Further south , New Zealand has announced it will lift its ban on offshore exploration , citing
Equinor ’ s Grane oilfield in the North Sea . Photo : Elisabeth Sahl and Jonny Engelsvoll / © Equinor .
The Namibia Orange basin , the location of recent discoveries , is believed to be rich in oil resources . the need to develop its economy by boosting gas production .
Sustainability Fossil fuel companies are actively pursuing ways of decarbonising their activities and eliminating waste . These include investing in carbon capture and storage ( CSS ), green energy ( including the powering of fossil fuel extraction ), 3D printing , methane leak detection , and the use of hydrogen in refining . Here , we examine the first three .
CSS - still a young industry , already plays an important role in current projects . CO 2 is already reinjected into existing wells to boost their productivity . Apart from separation of CO 2 from fossil fuels , other technologies exist : carbon mineralisation , whereby the substance is stored in carbonite minerals , possibly to be recycled ; and Direct Air Capture ( DAC ), which uses heated limestone to capture the carbon and bury it . Heirloom began operating North America ’ s first commercial DAC facility in Tracy , California and is building more facilities in Louisiana . In June , Denmark for the first time allowed companies to investigate carbon storage in Danish subsoil . Norway has likewise permitted six companies , including Equinor and Aker BP to store carbon on the Norwegian Continental Shelf .
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