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Uae: Masdar’S Capacity Up By 150% To Over 50Gw In Two Years Cementing Place As Global Clean Energy LeaderAbu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader – has announced that it has significantly increased its overall renewable energy capacity by 150 percent to 51GW by the end of 2024, up from 20GW in 2022. This achievement establishes Masdar as a global clean energy leader and well on track to achieving its ambitious target of 100GW of renewable energy capacity by 2030.
Masdar’s operational, under construction and advanced pipeline capacity grew from 20GW to 51GW between 2022 and the end of 2024. It comes as Masdar’s portfolio of operational, under construction and committed capacity also rose in just 12 months from 16.5GW to 32.6GW by end of 2024.
In 2024 alone, Masdar deployed close to $8 billion in equity investments and secured more than $4.5 billion of project financing across nine countries, enabling the development of projects totaling over 6.5GW of new capacity. These accomplishments reflect Masdar’s commitment to expanding its renewable energy portfolio while driving the global energy transformation.
Masdar’s growth was advanced by landmark acquisitions in Greece, Spain and the United States, strengthening the company’s presence in Europe and North America, as well as breaking ground on seven major projects worldwide. These included two BESS projects in the UK, two solar projects in Azerbaijan with a combined capacity of 760MW, and the 1.5GW Al Ajban Solar Project in the UAE.
Masdar also announced the financial close of six projects, including the 1.1GW Al Henakiyah Solar Power Plant and multi-utility AMAALA sustainable project in the Kingdom of Saudi Arabia, as well as 760MW solar projects Bilasuvar and Neftchala in Azerbaijan.
Additionally, Masdar signed a Power Purchase Agreement in December 2024 for the 2GW Sadawi project in Saudi Arabia, and inaugurated the 500MW Zarafshan Wind Farm in Uzbekistan, now the largest operation in Central Asia.
The company successfully issued its second green bond, raising $1 billion, with a 4.6x oversubscription underscoring strong investor confidence in Masdar’s vision and performance. It came after Fitch upgraded Masdar’s credit rating to AA- from A+, demonstrating the confidence in the health of the company’s finances.
His Excellency Dr Sultan Ahmed Al Jaber, Chairman of Masdar, said:
With the steadfast support of the UAE Leadership, Masdar has grown over the last two decades from a pioneer in clean energy to one of the world’s biggest renewable energy companies. In 2024, we made significant progress by increasing our overall capacity to 51GW, more than half-way to meeting our 100GW by 2030 target. This is testament to a balanced growth strategy combining smart acquisitions and project development in our bid to become the world leader in clean energy. We are committed to the UAE Consensus and the global target of tripling renewable energy capacity by 2030 in our mission to supercharge the global energy transformation and ensure sustainable progress for all.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:
Masdar’s journey in 2024 represents the power of bold ambition paired with strategic action. By more than doubling our capacity in just two years, we have not only established our position as the world’s pure-play renewables leader but have expanded our ambition with key strategic acquisitions in the United States, Spain and Greece. We have also achieved significant progress on major projects worldwide, as we help to accelerate the global energy transformation. We are not only reaching milestones but setting new benchmarks for the industry as we work towards our 100GW target and cementing our reputation as the world’s trusted clean energy partner.
Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030.
Original announcement link
Source: Masdaroil-gas
Jan 15, 2025
Energypedia News
Norway: Tgs Awarded 4D Streamer Campaign Offshore NorwayTGS, a leading provider of energy data and intelligence, has announced award of four 4D streamer contract acquisition projects, three in the North Sea and one in the Barents Sea. The 4D campaign in the North Sea is scheduled to commence in early Q2 with back-to-back scheduling and a total duration of approx. 130 days. The 4D contract in the Barents Sea is scheduled to commence in late May with a total duration of approx. 50 days.
Kristian Johansen, CEO of TGS, commented, 'We are very pleased to secure a series of 4D streamer contracts offshore Norway for the 2025 summer season. Our GeoStreamer technology combined with the Ramform acquisition platform ensures efficient delivery of high-quality data. We are experiencing higher demand for contract work on the Norwegian Continental shelf this year, compared to last. When including our multi-client programs, we will have three streamer vessels working on the Norwegian continental shelf this summer.'
Original announcement link
Source: TGSoil-gas
Jan 15, 2025
Energypedia News
Saudi Arabia: Aramco Plans Transition Minerals Jv With Ma’AdenAramco, one of the world’s leading integrated energy and chemicals companies, and Ma’aden, the largest multi-commodity mining and metals company in the Middle East and North Africa region, have announced the signing of non-binding Heads of Terms, which envisages the formation of a minerals exploration and mining joint venture (JV) in the Kingdom of Saudi Arabia. The proposed JV would focus on energy transition minerals, including extracting lithium from high concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies. Commercial lithium production could potentially commence by 2027.
The proposed JV is expected to extend Aramco’s capabilities into an adjacent sector, leveraging its technological innovation and skills in resource and data management. It would seek to unlock the potential of the Kingdom’s high-value mineral resources, with the aim of helping meet growing demand for lithium and other transition minerals both domestically and globally. The JV is expected to further harness natural resources utilizing a wealth of subsurface data, as well as emerging technologies, to advance the Kingdom’s economic diversification and energy ambitions.
There is significant potential for the extraction of energy transition minerals in the Kingdom. For example, as part of its operations, Aramco has identified several areas with a high lithium concentration of up to 400 parts per million. The JV is expected to benefit from Aramco’s significant expertise and operations, including the use of existing infrastructure, industry-leading drilling operations, and more than 90 years of geological data in its area of operations.
Nasir K. Al-Naimi, Aramco Upstream President, said: 'This announcement reflects Aramco's focus on positively contributing to the global energy transition. The proposed JV will enable extraction of energy transition minerals, contributing meaningfully to the growth of more sustainable energy solutions while diversifying our portfolio for a lower-carbon future. We expect that this partnership will leverage the world’s leading upstream enterprise to apply significant low-cost advantages, industry experience, technological innovation, accumulated subsurface knowledge and an integrated supply chain ecosystem, with a view to meeting the Kingdom and potentially the world’s projected lithium demand.'
Darryl Clark, Ma’aden Senior Vice President of Exploration, said: 'Ma’aden has been undertaking one of the world’s largest single-jurisdiction exploration programs across the Arabian Shield, to unearth the estimated $2.5 trillion mineral endowment. This proposed JV would enable us to accelerate exploration of the Arabian Platform, combining Aramco’s vast knowledge of the area with Ma’aden’s extensive mining and exploration expertise.'
Lithium is a fundamental component of the energy transition, essential for production in fast-growing sectors such as electric vehicles, energy storage, and renewables. The total global demand for lithium has tripled over the past five years, and its compound annual growth rate is anticipated to exceed 15% per annum through 2035. The JV could potentially help meet the Kingdom’s forecasted demand for lithium, which is expected to grow twenty-fold between 2024 and 2030, supporting an estimated 500,000 electric vehicle batteries and 110 GW of renewables.
The planned JV, which is subject to customary closing conditions including regulatory approvals, was announced during the Future Minerals Forum in Riyadh.
Original announcement link
Source: Aramcooil-gas
Jan 15, 2025
Energypedia News
Gom: Talos Energy Announces Successful Drilling Results At The Katmai West-2 Well In The U.S. Gulf Of MexicoTalos Energy has announced that the Katmai West #2 well located in the Ewing Bank area of the U.S Gulf of Mexico successfully encountered commercial quantities of oil and natural gas.
Key Highlights
The drillship West Vela began drilling the Katmai West #2 well in late October 2024. Talos plans to case and suspend the well by late January 2025 while the Company finalizes completion plans to be executed in the second quarter 2025. Production is expected to start later that same quarter. The well will be connected to the existing subsea infrastructure that flows to the Tarantula facility, which has been expanded to increase capacity to 35 MBoe/d. Talos anticipates the Katmai wells will be rate-constrained under the upgraded capacity, allowing for extended flat-to-low decline production from the facility. Talos, as operator, holds a 50% working interest, with entities managed by Ridgewood Energy Corporation holding the other 50% in Katmai West field. Talos is the 100% owner and operator of the Tarantula facility.
Talos's Interim Co-President, Executive Vice President and Head of Operations John Spath stated, 'We are proud of our team for achieving these successful drilling results. Delivering this high-impact deepwater well, approximately 35% under budget and more than a month ahead of schedule, demonstrates our ability to efficiently execute complex projects while maintaining top safety and environmental standards. We remain optimistic about the greater Katmai area, as these results align with our pre-drill expectations about its gross resource potential. We look forward to having this well on production and believe it positions us for strong value creation as we move forward into 2025.'
Original announcement link
Source: Talos Energyoil-gas
Jan 15, 2025
Energypedia News
India: Emgs Receives Letter Of Award For Survey In IndiaElectromagnetic Geoservices ('EMGS') has announced that the Company has received a Letter of Award for a CSEM survey in India.
The survey is expected to have a contract value of approximately USD 10 million, subject to the issuance of a callout order. The LOA does not include a minimum scope of work. The Atlantic Guardian will commence acquisition following completion of the previously announced survey in India.
The Company expects the final contract execution to take place within the next several weeks.
Original announcement link
Source: EMGSoil-gas
Jan 15, 2025
Energypedia News
Us: Langford Energy Partners Enters Midland Basin With Acquisition From Murchison Oil & GasAffiliates of Langford Energy Partners ('LEP'), a privately held oil & gas operating company, have closed on the acquisition of Midland Basin assets from Murchison Oil and Gas.
Management Comments
Lance Langford, LEP’s CEO, stated, 'LEP’s acquisition represents a great opportunity for our team to add to its long history of operating success and delivering value to investors. We will leverage this asset as an anchor for expansion through additional bolt-on acquisitions in the Midland Basin.'
Bud Brigham, the company’s Executive Chairman added, 'I’m thrilled that LEP has captured what we believe is a high-quality asset with the ideal profile to complement our stated strategy. On a personal note, it’s exciting to re-enter the area of the Midland Basin where I began my career and drilled my first wells.'
Acquisition Highlights
Financing
LEP funded the acquisition with equity from its flagship fund, Langford Energy Partners I, LP, and senior bank debt from a new credit facility led by Texas Capital Bank.
Advisors
Vartabedian Hester & Haynes LLP, Vinson & Elkins LLP, and Kirkland & Ellis LLP served as legal counsel to LEP.
RBC Richardson Barr served as exclusive financial advisor and Holland & Knight LLP served as legal counsel to Murchison.
Original announcement link
Source: Langford Energy Partnersoil-gas
Jan 15, 2025
Energypedia News
Germany: Copenhagen Infrastructure Partners Launches 800Mw Green Hydrogen Project In Northern GermanyCopenhagen Infrastructure Partners (CIP), through its Energy Transition Fund (CI ETF I), and Friesen Elektra Green Energy have initiated project Anker, a green hydrogen production facility in Sande, Germany. The project is scheduled to have an electrolysis capacity of 400 MW with plans to expand capacity to 800 MW at a later stage.
Project Anker is strategically located near Wilhelmshaven, an important energy and industrial hub, and near the future German hydrogen core network. It is projected to produce 80,000 tons of green hydrogen annually which will benefit key German industries, including steel and chemicals, as well as the transport sector. The project will bolster the regional economy in Lower Saxony by creating new jobs, growth and fostering active community engagement.
Project Anker will be powered by renewable energy from the grid, supported by offshore and onshore wind, as well as solar energy. By substituting fossil fuels with green hydrogen, the project can reduce CO2 emissions by up to 2.4 million tons annually, equivalent to the emissions of approximately 340,000 households.
'Project Anker has the potential to make an important contribution to Germany’s journey towards a carbon-neutral future. At CIP, we continue to see a large potential in green hydrogen despite slower than expected market development and we remain committed to investments in large-scale renewable infrastructure solutions to decarbonize energy-intensive industries. We look very much forward to bring the project to realization together with our new partners at Friesen Elektra and to a constructive collaboration with the German authorities.' said Felix Pahl, Partner at CIP.
'We are delighted to welcome CIP and its highly skilled, experienced team as a strategic investor and development partner in our Hydrogen Park Friesland. This collaboration is a major step towards creating one of Germany’s premier hydrogen production sites. Together, we aim to accelerate the energy transition and advance decarbonization by leveraging our combined strengths and expertise,' said Christian Gätje, CFO of Friesen Elektra.
CIP’s Energy Transition Fund I (CI ETF I) is the largest dedicated greenfield green hydrogen fund worldwide. CI ETF I has built a market leading portfolio of Power-to-X projects, with around 6.5 GW of electrolyser capacity in its development portfolio globally.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
Original announcement link
Source: CIPoil-gas
Jan 15, 2025
Energypedia News
Colombia: Geopark Provides Update On Proposed Acquisition Of Repsol Exploration And Production Assets In ColombiaGeoPark, a leading independent energy company with over 20 years of successful operations across Latin America, has announced that Repsol’s partner in SierraCol Energy Arauca LLC has exercised its preemptive rights under the terms of the LLC Agreement to acquire 25% of Repsol’s interest in SierraCol Energy Arauca LLC ('Llanos Norte') in Arauca Department, Colombia.
As a result of the exercise of these preemptive rights, GeoPark and Repsol have mutually agreed not to proceed with the transaction previously announced on November 29, 2024, which included Repsol’s 45% working interest in the CPO-9 block and its 25% interest in SierraCol Energy Arauca LLC.
GeoPark remains committed to pursuing disciplined growth opportunities, leveraging its proven track record and extensive operational expertise to generate long-term value for all stakeholders.
Original announcement link
Source: GeoParkoil-gas
Jan 15, 2025
Energypedia News
Congo Brazzaville: Trident Energy Completes Republic Of Congo AcquisitionTrident Energy has completed the acquisition of the entire issued share capital of Chevron Overseas (Congo) Limited, as well as an additional working interest in the Nkossa and Nsoko II fields from TotalEnergies, resulting in an 85% working interest in the Nkossa and Nsoko II fields, and a 15.75% working interest in the Lianzi field. Trident Energy will become the operator of those fields. In addition, Trident Energy has acquired a 21.5% working interest in the Moho–Bilondo field, operated by TotalEnergies.
The acquisition, which was announced in April 2024, is expected to add c.30,000 bopd. It is a significant deal for Trident Energy which has proven expertise in extending field life and unlocking production from mid-life assets as demonstrated by their takeovers in Brazil and Equatorial Guinea.
Jean-Michel Jacoulot, Chief Executive of Trident Energy ML said:
'We are extremely pleased to have completed the acquisition which marks a new chapter in our history. We are excited to enter the Republic of Congo, take over the operations and deliver the full potential of these assets. We look forward to working with TotalEnergies Congo, the SNPC and the Congolese Government to generate further value to the assets. We would like to take the opportunity to thank the Ministry of Hydrocarbons, and the Government for their support on this transaction'.
Original announcement link
Source: Trident Energyoil-gas
Jan 15, 2025
Energypedia News
Uk: Neso To Pause Applications To Connect To The National Electricity Transmission SystemGrid connections applications have continued to grow over the last year to the point that it is no longer possible to deliver connections reforms in parallel with the existing connections process. In 2023/24 alone, NESO, the National Energy System Operator for Great Britain, received over 1,700 applications to connect to the national electricity transmission system, leaving more projects already in the queue than are required for the energy system in 2030 or even 2050.
The next phase in reforming the management of electricity grid connections in Great Britain will lay the foundations for an efficient and future ready connections process that can deliver clean power and economic growth.
Pausing connection applications
Following approval from the energy regulator, Ofgem, NESO will implement new arrangements which will 'pause' applications received as of 29 January. This arrangement will enable resources to be dedicated to delivery of connections reforms at pace across 2025.
There will be exceptions to this arrangement to support wider GB energy needs and economic growth. Demand projects directly connecting to the national electricity transmission network (typically large industrial and commercial units), will be allowed to continue through the connections process, to support the continued delivery of Great Britain’s industrial development.
A new connections process
As part of the connections reforms planned for 2025, a new connections process will be implemented, subject to Ofgem's approval. Future projects will apply to join the national electricity transmission system during designated windows, and will be required to meet key progress milestones, ensuring projects that are ready to progress can move forward. This will underpin a strategic connections process that is fit for purpose to drive innovation, support growth, and deliver clean power for the nation.
Matt Vickers, Director of Connections Reform, NESO
'This transitional arrangement is critical to delivering the connections reforms we will deliver this year. It’s a significant step forward in changing the grid connections process for the better. Our reforms prioritise projects which are ready to progress, and which are needed to deliver clean power by 2030. To reorder the queue, we need to start from a stable base. This short pause in applications will allow us to work with colleagues across the network companies to prepare for the new processes we need to bring forward the electricity projects needed for the delivery of clean power by 2030 and beyond.'
'We will work closely with industry, Government, the Regulator and network companies throughout this process to help ensure a smooth transition to the new connections process in 2025.'
Christianna Logan, Director of Customers and Stakeholders at SSEN Transmission, said:
'We're looking forward to working with NESO and our customers to implement the next stage of Connections Reform over the coming months. These arrangements are needed to give our customers time to have a signed connection offer in place when the implementation stage of the process begins later this year.'
View our open letter to industry and our legal letter of comfort to Ofgem.
Original announcement link
Source: NESOoil-gas
Jan 15, 2025Energypedia News
Poland: Orlen Announces The Largest Investment Programme In The History Of Poland’S EnergyEnergy security, modernisation, environmental stewardship, and product innovation form the cornerstones of ORLEN’s newly unveiled strategy. 'The Energy of Tomorrow Starts Today' represents the most ambitious and comprehensive growth programme in the Company’s history. Its key objectives include expanding natural gas production, constructing four offshore wind farms, developing large-scale energy storage facilities, and delivering at least two small modular nuclear reactors.
'ORLEN is committed to enhancing the energy independence of the Polish and regional economy. Our goal is to be secure, competitive, and modern. To achieve this, we are embarking on the largest growth programme in the history of Poland’s energy, with an investment of up to PLN 380 billion. This ambitious yet responsible strategy reflects our dedication to our customers and, by extension, to all Poles. Our industry has significant ground to cover, and we believe this decade represents a pivotal moment for the energy sector. That is why we are accelerating our efforts,' said Ireneusz Fafara, President of the Management Board of ORLEN, during the unveiling of the strategy 'The Energy of Tomorrow Starts Today.'
'In parallel, we are accelerating the integration of ORLEN Group companies. We are embedding robust corporate governance principles and implementing modern, transparent management practices. By optimising projects and processes, we aim to steadily enhance the value of the ORLEN Group for our shareholders,' he added.
In addition to large-scale investment projects, modernisation efforts, and the development of power generation assets and energy infrastructure, ORLEN’s strategy places a strong emphasis on delivering tangible benefits to customers. The Company’s initiatives are designed to make energy more affordable than it would have been without these transformative investments. At the same time, ORLEN is committed to introducing cutting-edge solutions and broadening its consumer offerings. Plans include expanding the VITAY loyalty scheme to engage up to 10 million customers. This enhanced programme will provide access to an integrated ecosystem for purchasing energy for both residential and transportation needs. A key component of ORLEN’s updated strategy is also the expansion of its fuel portfolio, with a commitment to ensuring that by 2035, zero-emission sources will account for more than 25% of the mix.
The 'The Energy of Tomorrow Starts Today' strategy is underpinned by clear investment objectives, robust data, and measurable economic indicators that the Company has pledged to achieve over the next decade. These targets include:
In addition, ORLEN plans to develop four offshore wind farms and at least two small modular reactors. The Group’s recycling capacity is poised to increase from the current 35,000 tonnes to 250,000 tonnes annually over the next decade. By 2035, products derived from renewable and circular raw materials will represent 10% of all petrochemical sales.
The new strategy also reinforces ORLEN’s dedication to delivering value to shareholders through a progressive dividend policy. In 2025, the guaranteed dividend will rise from PLN 4.3 to PLN 4.5 per share, with an annual increase of PLN 0.15 per share thereafter. In addition, the Management Board will have the flexibility to recommend higher dividend payouts, up to 25% of annual operating cash flows, net of financing costs.
Original announcement link
Source: Orlenoil-gas
Jan 15, 2025Energypedia News
Nato Launches 'Baltic Sentry' To Increase Critical Infrastructure SecurityNATO Secretary General, Mark Rutte co-hosted a Summit of Baltic Sea Allies on Tuesday (14 January 2025), along with President Alexander Stubb of Finland and Prime Minister Kristen Michal of Estonia.
At the meeting in Helsinki, Mr Rutte announced the launch of a new military activity by NATO to strengthen the protection of critical infrastructure. 'Baltic Sentry' will enhance NATO’s military presence in the Baltic Sea and improve Allies’ ability to respond to destabilizing acts.
At the Summit, leaders from across the region addressed the growing threat to critical undersea infrastructure. The Secretary General said recent sabotage had damaged energy and communication cables, but he was confident that, 'by working together with all Allies – we will do what it takes to ensure the safety and security not only of our critical infrastructure but of all that we hold dear.'
Baltic Sentry' will involve a range of assets, including frigates and maritime patrol aircraft. The Secretary General also announced the deployment of new technologies, including a small fleet of naval drones, and highlighted that NATO will work with Allies to integrate national surveillance assets – all to improve the ability to protect critical undersea infrastructure and respond if required. NATO will work within the Critical Undersea Infrastructure Network, which includes industry, to explore further ways to protect infrastructure and improve resilience of underwater assets.
Mr Rutte also stressed the importance of robust enforcement. He highlighted how Finland has demonstrated that firm action within the law is possible, 'Ship captains must understand that potential threats to our infrastructure will have consequences, including possible boarding, impounding, and arrest.'
For more information about Baltic Sentry, see the news release from NATO’s Supreme Headquarters Allied Powers Europe (SHAPE).
Allies participating in the Summit signed a joint declaration, the text of which is available here.
Original announcement link
Source: NATOoil-gas
Jan 15, 2025