Page 163 - CW E-Magazine (17-12-2024)

News from Abroad

MILESTONE
TotalEnergies celebrates 50 years in Saudi Arabia

France’s TotalEnergies has com- Zahid (40%). It will be connected
pleted 50 years of operations in Saudi to the grid and operational at the
Arabia. The company said it has beginning of 2025.
deployed with success its multi-energy * In addition, the consortium com-
strategy in the country with its flag- posed of TotalEnergies and Saudi
ships projects in the downstream oil developer Aljomaih Energy and
sector with its partnership with Aramco, Water Company (AEW) signed, in
and the development of renewables November 2024, a 25-year power
with various local partners. These purchase agreement (PPA) with
include: Saudi Power Procurement Company
of the way through in line with its (SPPC) for the Rabigh 2 solar
* SATORP, which is TotalEnergies’ initial schedule, which is scheduled project (300-MW). The solar power
largest refining and chemicals to start in 2027. The project, jointly plant will be developed, built,
platform in the world. It is jointly developed by Aramco (62.5%) owned and operated by the consor-
held by Aramco (62.5%) and Total and TotalEnergies (37.5%), alone tium with a grid connection planned
Energies (37.5%), with a production represents an investment of about for 2026.
capacity of 460,000 barrels a day. $11-bn. * TotalEnergies is also developing
* The construction of the Amiral petro- * TotalEnergies is currently building smaller-scale solar projects through
chemical complex, which bene- the Wadi Al Dawasir solar power its 50%-owned subsidiary Safeer
fits from synergies with the plant (119-MW) with its partners with Al Taqa Zahid for industrial
SATORP platform, is already a third Toyota Tshusho (40%) and Al Taqaa and commercial customers.

CONSOLIDATION
Shell and Equinor to create the UK’s largest

independent oil & gas company

Equinor UK Ltd., a subsidiary of UK Continental Shelf,” the companies for Exploration and Production Inter-
Norwegian state-owned energy firm, said. national, Mr. Philippe Mathieu, said,
Equinor, and Shell UK Ltd., a subsidiary “This transaction strengthens Equinor’s
of Shell, are to combine their UK The new company will invest to near-term cash flow, and by combining
offshore oil & gas assets and expertise provide a long-term sustainable future Equinor’s and Shell’s long-standing
to form a new equally owned company, for individual oil & gas fields and plat- expertise and competitive assets, this
which will be the UK North Sea’s forms, helping extend the life of this new entity will play a crucial role in
biggest independent producer. crucial sector for the benefit of the UK. securing the UK’s energy supply.”
Based in Aberdeen, the JV will include
“With the once prolific basin now Equinor’s equity interests in Mariner, Shell’s Integrated Gas and Up-
maturing and production naturally Rosebank and Buzzard; and Shell’s stream Director, Ms. Zoë Yujnovich,
declining, the combination of portfolios equity interests in Shearwater, Penguins, added, “Domestically produced oil and
and expertise will allow continued eco- Gannet, Nelson, Pierce, Jackdaw, gas is expected to have a significant
nomic recovery of this UK resource. Victory, Clair and Schiehallion. A range role to play in the future of the UK’s
The new company will be more agile, of exploration licences will also be part energy system. To achieve this in an
focused, cost-competitive, and strate of the transaction. already mature basin, we are combining
gically well positioned to maximise the forces with Equinor, a partner of many
value of its combined portfolios on the Equinor’s Executive Vice President years.”

Chemical Weekly December 17, 2024 163

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