Exploring Major Energy Projects Taking Shape in 2024
Shifting power dynamics across the globe have brought about significant changes in the energy industry, leading to new challenges and opportunities. Last year, several key players made bold moves by giving the green light to major energy projects, setting the stage for groundbreaking developments in the sector.
TotalEnergies’ Deepwater Project in Angola
TotalEnergies made a decisive move by approving the development of a deepwater oil project in Block 20 in the Kwanza basin off the coast of Angola. This project marks a significant milestone in the region’s oil and gas sector and is set to boost Angola’s energy production capabilities.
Equinor’s Gas Infrastructure Development in the North Sea
Equinor’s investment in gas infrastructure at the Troll field in the North Sea underscores its commitment to enhancing Europe’s energy security. The phased development of the Troll field will not only increase gas production but also extend the field’s plateau production for years to come.
Petrobras’ FPSO Construction for Santos Basin Fields
Petrobras’s decision to develop two oil fields in the pre-salt Santos Basin with the construction of FPSOs P-84 and P-85 demonstrates its dedication to expanding its offshore production capabilities. These FPSOs will play a crucial role in boosting Brazil’s oil production capacity.
Shell’s Gas Development Project in Trinidad and Tobago
Shell’s investment in the Manatee gas field offshore Trinidad and Tobago is poised to strengthen the company’s LNG portfolio. The development of new wells and infrastructure in the East Coast Marine Area will enhance Shell’s gas production capabilities in the region.
Energean’s Phased Development Offshore Israel
Energean’s phased development plan for the Katlan/Tanin area offshore Israel, utilizing an existing FPSO, highlights the company’s strategic approach to bringing new gas discoveries online. This project is set to enhance Israel’s energy production capacity in the coming years.
BP’s Kaskida Deepwater Oil Project in the Gulf of Mexico
BP’s FID for the Kaskida deepwater oil project in the Gulf of Mexico signals a significant step towards unlocking vast oil resources in the region. The deployment of a new FPU and advanced technologies will enable BP to maximize production from this promising offshore asset.
TotalEnergies’ Block 58 Oil Project in Suriname
TotalEnergies’ partnership with Apache Corporation and Staatsolie for the Block 58 oil project offshore Suriname is poised to bring substantial economic benefits to the country. The project’s ambitious drilling plans and investment outlook highlight the potential for significant growth in Suriname’s oil and gas sector.
BP’s Offshore EGR and CCUS Project in Indonesia
BP’s focus on offshore enhanced gas recovery and carbon capture, utilization, and storage in Indonesia underscores its commitment to sustainable energy development. This innovative project aims to reduce emissions and enhance energy production capabilities in the region.
Shell’s Deepwater Project Offshore Nigeria
Shell’s approval of a deepwater oil and gas project offshore Nigeria signifies its continued investment in expanding its offshore production portfolio. The project’s integration with an existing FPSO reflects Shell’s strategic approach to maximizing production efficiency in the region.