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acquires-stake-in-la-amarga-chica-from-petronas-enters-partnership-with-ypf-
in-high-output-vaca-muerta-block
Title – Vista adds La Amarga Chica stake, enters partnership with YPF in high-
output Vaca Muerta block
Paragraph – Vista Energy has acquired a 50% interest in the La Amarga Chica
block in Argentina’s Vaca Muerta shale formation from Malaysia’s Petronas,
becoming a joint partner with state-run YPF, which will remain as operator.
Paragraph – The deal involved an upfront cash payment of $900 million and
includes two deferred payments of $150 million each in 2029 and 2030.
Additionally, Petronas received 7.3 million Vista shares as part of the deal.
Paragraph – “With this acquisition, we are scaling up in Vaca Muerta, adding
a premium block with growing production and low operating costs,” said
Miguel Galuccio, Vista’s chairman and chief executive officer.
Paragraph – Following the acquisition, Vista’s total footprint in Vaca Muerta
expands to 229,000 acres. Since its founding in 2017, the company has
increased output to over 120,000 boe/d from 24,000 boe/d including
production from the newly acquired asset and has invested more than $6
billion to date.
Heading – La Amarga Chica, a key asset in Argentina’s shale play
La Amarga Chica was the third block that YPF moved into full-scale
development after Loma Campana and El Orejano. Current production is
estimated at 68,000 b/d, making it the third-highest producing oil block in
the country.
In February, YPF commissioned a second crude oil treatment plant in the
area, investing $200 million to double its processing capacity.
Five blocks—Loma Campana, Bajada del Palo, La Amarga Chica, Bandurria
Sur, and La Calera—account for 68% of Vaca Muerta's total shale oil
production.
Heading – Petronas exits Argentina upstream operations
The deal marks Petronas’ operational exit from Argentina. The Malaysian
NOC entered the country in 2014 through a partnership with YPF. In 2018,
the companies completed a pilot phase at La Amarga Chica involving a $550
million investment and the drilling of 33 wells, achieving output of 9,800
boe/d.
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german-lng-awards-jetty-construction
Title – German LNG awards jetty construction
Paragraph – German LNG Terminal GMBH has awarded Ballast Nedam Infra
BV and Hakkers Waterbouw the contract to build a sea jetty as part of the 10
billion cu m/year land-based terminal German LNG is building in Brunsbüttel,
Germany. The companies will execute the work as subcontractors to main
contractor CS Gas North, a collaboration between Spanish companies Grupo
Cobra and Sener.
Paragraph – Construction of the jetty—capable of receiving ships as large as
267,000 cu m—will start third-quarter 2025 to be completed early 2027. A
smaller berth will also be built for LNG bunker vessels and barges.
Paragraph – The jetty will be capable of unloading vessels at a rate of 14,000
cu m/hr and loading at 3,000 cu m/hr. The terminal has been designed also
to import ammonia.
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adnoc-signs-15-year-lng-supply-deal-with-enn-natural-gas
Title – ADNOC signs 15-year LNG supply deal with ENN Natural Gas
Paragraph – ADNOC has signed a long-term agreement to supply ENN LNG
(Singapore) Pte. Ltd., a wholly owned subsidiary of ENN Natural Gas Co. Ltd.
Paragraph – Under the SPA, ADNOC will supply about 1 million tonnes/year
(tpy) of LNG to ENN LNG for a period of 15 years. The LNG will primarily be
sourced from ADNOC’s Ruwais LNG project. The companies had signed a
heads of agreement for the LNG supply in December 2023 (OGJ Online, Dec.
26, 2023).
Paragraph – Last year, ADNOC made a final investment decision to proceed
with the lower-carbon Ruwais LNG project in Al Ruwais Industrial City, Abu
Dhabi (OGJ Online, June 14, 2024).
Paragraph – The project will consist of two 4.8 million tpy liquefaction trains.
When completed, it will more than double ADNOC’s LNG production target
capacity to 15 million tpy to meet increased global demand for natural gas.
The project is scheduled to start commercial operations in 2028.
Paragraph – In February of this year, following the signing of a supply
agreement with Japan's Osaka Gas, ADNOC said about8 million tpy of Ruwais
LNG’s 9.6 million tpy capacity was committed to customers across Asia and
Europe (OGJ Online, Feb. 28, 2025).
Paragraph – The agreement with ENN marks the largest LNG deal by volume
ever signed between the UAE and a Chinese partner, ENN said in a release
Apr. 21.
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guyana-lets-second-fpso-contract-to-modec
Title – ExxonMobil Guyana lets second FPSO contract to MODEC
Paragraph – ExxonMobil Guyana Ltd. has let a contract to MODEC Inc. to
develop a floating production, storage, and offloading (FPSO) vessel for the
Hammerhead project, marking the service provider’s second FPSO for use
offshore Guyana.
The contract is a limited notice to proceed (LNTP) by ExxonMobil Guyana,
pending necessary government and regulatory approval, the service provider
said in a release Apr. 21.
Phase one encompasses front-end engineering and design (FEED) while
phase two covers engineering, procurement, construction, and installation
(EPCI).
The LNTP allows MODEC to start activities related to the FPSO design to
ensure the earliest possible project startup in 2029, should the project
receive the necessary government approvals, MODEC said.
The performance of the second phase is subject to government and
regulatory approval as well as project sanction by ExxonMobil and its
Stabroek block co-venturers.
The Hammerhead FPSO will have the capacity to produce 150,000 b/d of oil,
along with associated gas and water. It will be moored at a water depth of
about 1,025 m using a spread mooring system.
MODEC is currently building the Errea Wittu FPSO for ExxonMobil Guyana’s
Uaru project offshore Guyana (OGJ Online, Apr. 28, 2023).