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Enverus, the leading energy SaaS and data analytics company, has released its summary of 1Q21 U.S. upstream M&A activity. The report shows $3.4 billion in deal value was transacted during the quarter - an 88% decline from 4Q20. This is the third year in a row U.S. activity has started slow. ....
Saudi Arabia: Public Investment Fund (PIF) reaches major milestone in landmark Solar PV project 12 Apr 2021 Sudair Solar PV project is set to become one of the world’s largest Solar PV plants by capacity and Saudi Arabia’s largest. The project is considered a key achievement towards PIF’s commitment to develop 70% of Saudi Arabia’s renewable energy by 2030 With an investment value of approximately SAR 3.4 billion and 1,500MW, Sudair Solar PV project will be capable of powering 185,000 homes and offsetting nearly 2.9 million tons of emissions per year ACWA Power – in which PIF holds a 50% stake – leads the consortium to develop the project alongside PIF portfolio company ....
Norway: Equinor given consent to use Heimdal beyond its original planned lifetime 12 Apr 2021 What does producing life extension involve? New technology and operating methods as well as measures to improve oil and gas recovery mean that licensees often want to keep existing facilities working past their retirement date. In many cases, continuing to use facilities beyond their design life makes socio-economic sense. But permitting such extensions at the expense of safety is not acceptable. Heimdal Heimdal is a field in the central part of the North Sea. The water depth in the area is 120 metres. Heimdal was discovered in 1972, and the plan for development and operation (PDO) was approved in 1981. The field was developed with an integrated drilling, production and accommodation facility with a steel jacket (HMP1). Production started in 1985. Heimdal is now mainly used as a gas processing centre for other tied-in fields. ....
Worley has been awarded a maintenance and integrity contract for services to support Petroleum Development Oman (PDO)’s strategic oil and gas production assets in the South Oman concession region. ....
Uganda, Tanzania and oil firms Total and CNOOC have signed agreements that will kickstart the construction of a $3.5 billion crude pipeline to help ship crude from fields in western Uganda to international markets. ....