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Energy Sector Developments 2023

No new discoveries were reported, but several emerging plans include the construction of a sea jetty in Germany and the issuance of an LNTP for the Hammerhead FPSO in Guyana. In Argentina, Vista Energy acquired a 50% stake in La Amarga Chica, while Petronas exited the upstream sector, allowing YPF to resume development. Additionally, ADNOC signed a significant LNG supply agreement with ENN LNG, marking a major UAE-China deal.

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3 views2 pages

Energy Sector Developments 2023

No new discoveries were reported, but several emerging plans include the construction of a sea jetty in Germany and the issuance of an LNTP for the Hammerhead FPSO in Guyana. In Argentina, Vista Energy acquired a 50% stake in La Amarga Chica, while Petronas exited the upstream sector, allowing YPF to resume development. Additionally, ADNOC signed a significant LNG supply agreement with ENN LNG, marking a major UAE-China deal.

Uploaded by

kothayashwanthram999
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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⫸ New Discoveries

1. None reported.

⫸ Emerging Plans
2. GERMANY: German LNG Terminal GMBH has awarded Ballast Nedam
Infra BV and Hakkers Waterbouw the contract to build a sea jetty in
Brunsbüttel, kicking off in Q3 2025 and completing early 2027, plus a smaller
berth for LNG bunker vessels.

⫸ Early Prospects
3. None reported.

⫸ Floating Production
4. GUYANA: ExxonMobil Guyana Ltd. issued MODEC Inc. an LNTP for the
Hammerhead FPSO (150,000 b/d capacity), entering FEED now and targeting
2029 start‐up pending approvals.

⫸ Incident
5. None reported.

⫸ Firm Projects
6. ARGENTINA: Vista Energy closed on a 50% stake in La Amarga Chica
from Petronas for $900 million upfront (plus $150 million each in 2029 &
2030 and 7.3 million Vista shares), expanding its Vaca Muerta footprint to
229,000 acres.

⫸ Redevelopments
7. ARGENTINA: Petronas exits upstream Argentina after its 2018 La
Amarga Chica pilot; YPF resumes full-scale development across its Vaca
Muerta blocks.

⫸ Producing Fields
8. ARGENTINA: La Amarga Chica now produces ~68,000 b/d (third-largest
in Argentina); YPF’s top five blocks account for 68% of Vaca Muerta shale-oil
output.

⫸ Drilling Results
9. None reported.
⫸ Corporate
10. UAE/CHINA: ADNOC signs a 15-year SPA to supply ~1 million tpy of
LNG to ENN LNG (Singapore), marking the largest UAE–China deal; Ruwais
LNG’s two 4.8 M tpy trains aim for 2028 start-up, with 8 M tpy of 9.6 M tpy
capacity already committed.

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