Inpex Corporation said it has been granted a production concession for Onshore Block 4, located on the central coast of Abu Dhabi, United Arab Emirates, by the Supreme Financial and Economic Council of the Emirate of Abu Dhabi (SCFEA). The Japanese energy firm has been conducting exploration and evaluation activities in the block since 2018, after winning the block in an open exploration round held by Abu Dhabi National Oil Company (ADNOC), Inpex said in a news release. As the block’s operator, Inpex said it discovered multiple conventional oil, condensate and gas layers through the drilling of exploratory wells conducted since May 2021. Since then, the company said it has been conducting evaluation work with the aim of moving into development and starting production as soon as possible. The block is owned 60 percent by ADNOC, with the remaining 40 percent owned by JODCO Exploration Limited, in which Inpex has a 51 percent interest and Japan Energy and Metals National Corporation (JOGMEC) has 49 percent. Commissioning Started at Hydrogen and Ammonia Production Project Meanwhile, Inpex has started commissioning work, including the introduction of natural gas, at its integrated blue hydrogen and ammonia production and utilization demonstration test project in Kashiwazaki City, Niigata Prefecture, Japan. The project is the first of its kind in Japan to implement an integrated process from production to the utilization of hydrogen and ammonia, the company said in an earlier statement. The natural gas used as a raw material in the process is domestically sourced from the Inpex-operated Minami-Nagaoka Gas Field in Niigata Prefecture. The carbon dioxide (CO2) emitted during production is injected into previously depleted gas reservoirs in the Hirai District of the Higashi-Kashiwazaki gas field to minimize atmospheric emissions using carbon capture, utilization, and storage (CCUS) technology, according to the statement. The hydrogen produced

Malaysia’s national oil and gas company has expanded its footprint in Suriname with the signing of a production sharing contract (PSC) for a deepwater block next to several discoveries. Petroliam Nasional Bhd.’s (Petronas) new license area, Block 66, spans about 3,390 square kilometers (1,308.89 square miles). It is adjacent to Block 52, which contains the Fusaea, Roystonea and Sloanea discoveries. “Building on this strong foundation, PETRONAS is optimistic that the positive momentum and learnings from Block 52 will carry over into Block 66 as it continues to explore and unlock the hydrocarbon potential of the area”, Petronas said in a press release. “The PSC includes a firm commitment to drill two exploration wells, targeting drill-ready prospects that offer significant resource potential and are strategically positioned to unlock synergies with PETRONAS’ existing operations in Suriname”. Petronas, through PETRONAS Suriname E&P BV, operates Block 66 with an 80 percent stake. Paradise Oil Co. NV, a subsidiary of Suriname’s state-owned Staatsolie Maatschappij Suriname NV, owns 20 percent. “With the signing of the [Block 66] PSC, approximately fifty percent of Suriname’s offshore area is now under contract”, Staatsolie said separately. Petronas vice president for international upstream assets Mohd Redhani Abdul Rahman said, “This acquisition marks a pivotal step in PETRONAS’ expansion into the prolific Suriname-Guyana hydrocarbon basin, aligning with our strategy to unlock high-value, high-potential assets and deliver long-term value through global partnerships and deepwater innovation”. Petronas now has six blocks in the South American country: 48, 52, 53, 63, 64 and 66. It has made four oil and gas discoveries, all in Block 52: Sloanea-1 in 2020, Roystonea-1 in 2023 and Fusaea-1 and Sloanea-2 in 2024. Block 52 spans over 4,500 square kilometers north of Paramaribo’s coast. The discoveries are “undergoing intensive evaluation”, Staatsolie said in its statement. Exxon Mobil Corp. exited the block

Senior US officials are preparing for the possibility of a strike on Iran in the coming days, according to people familiar with the matter, a sign that Washington is assembling the infrastructure to directly enter a conflict with Tehran. The situation is still evolving and could change, said the people, who requested anonymity to discuss private talks. Some of the people pointed to potential plans for a weekend strike. Top leaders at a handful of federal agencies have also begun getting ready for an attack, one person said. President Donald Trump has for days publicly mused about calling for such a strike on Iran, which has been engaged in a war with Israel for nearly a week. Trump told reporters at the White House Wednesday he has “ideas as to what to do” and that he prefers to make the “final decision one second before it’s due” because the situation in the Middle East is fluid. A few hours earlier Trump said, “I may do it. I may not do it,” when asked if he was moving closer to attacking Iran. A White House official said that all options remain on the table. Asian stocks extended declines following the news of the preparations, with a gauge of regional equities sliding as much as 0.7 percent. Rhetorical shift The president’s openness to war is a reversal from his public remarks a week ago when Trump was urging diplomatic talks to reach a nuclear disarmament deal with Iran.  Waiting a few days to strike gives Iranian leaders additional runway to demonstrate to Trump that they are willing to give up some uranium enrichment capabilities in order to deter a US attack. Iranian Foreign Minister Abbas Araghchi said in a social media post earlier Wednesday that his country remained “committed to diplomacy” and

Norway’s Energy Ministry has offered Equinor ASA new acreage to explore potential carbon dioxide (CO2) injection sites in Norwegian waters. License EXL014 covers blocks 8/5, 8/6, 8/8, 8/9, 8/12, 9/7 and 9/10 on Norway’s side of the North Sea, according to a work program published online by the Norwegian Offshore Directorate. “The license is offered with a binding work program with built-in milestones to ensure fast and efficient progress or relinquishment of the acreage if the licensees do not complete the storage project”, the ministry said in a statement. This is the eighth time Norway has awarded acreage for CO2 storage. EXL014, offered to Equinor Low Carbon Solutions AS, will be the fourteenth license to be awarded for CO2 storage on Norway’s continental shelf. So far 13 licenses have been awarded – one exploitation and 12 exploration, according to the ministry. “This shows that there is interest in offering safe and secure storage of CO2 captured in Europe”, said Energy Minister Terje Aasland. “The government is making it possible for Norway to receive large quantities of CO2  from Europe”, Aasland said. “The storage will take place on commercial terms, where those with emissions pay for the storage”. Earlier the Directorate said Harbour Energy PLC had found a suitable reservoir for CO2 injection in the North Sea about 30 kilometers (18.64 miles) southeast of the Yme platform. Well 9/6-1 is the first well drilled in EXL006, awarded May 2023. “This is the fourth well drilled to investigate potential commercial storage of CO2 on the Norwegian continental shelf”, the Directorate said June 2. The wildcat well aimed to assess the injection potential of Middle Jurassic and Middle and Upper Triassic reservoir rocks in the area of the planned Havstjerne storage project. “Extensive volumes of data have been acquired from the reservoir and caprocks. An injection

Petroliam Nasional Bhd. (Petronas), Petronas-backed MISC Bhd., and Mitsui OSK Lines Ltd. (MOL) have announced the incorporation of a joint venture for the development of liquefied carbon dioxide (LCO2) carriers. The partners had already completed the front-end engineering design for a 62,000-cubic-meter (2.19 million cubic feet) LCO2 transport vessel, awarded to the Shanghai Merchant Ship Design and Research Institute. Classification firm DNV granted the design a General Approval for Ship Application certification last December, “establishing it among the most developed Low-Pressure Low-Temperature LCO2 carrier designs in the industry”, Petronas said in an online statement. The JV, called Jules Nautica Sdn. Bhd., “aims to become a leading owner of LCO2 carriers, facilitating the safe and efficient transportation of LCO2 to designated CO2 storage sites”, Malaysia’s national oil and gas company added. “Focused on supporting future CCS projects across the Asia Pacific region, the JV will also play a key role in completing the CCS value chain. “Through strategic commercial agreements with CO2-emitting industries and storage companies, this partnership will provide a critical cross-border solution to meet growing environmental and regulatory needs”. MISC president and group chief executive Zahid Osman said, “Initiatives like these reflect the direction we are taking, as we continue to explore and forge partnerships that will advance the development of low-carbon solutions and ensure our maritime pathways remain integral to a sustainable energy landscape”. In 2023 Petronas and Mitsui signed an agreement with TotalEnergies SE to establish a CO2 “merchant storage service” that would cater to Asia’s industrial sector. “The partners will evaluate several CO2 storage sites in the Malay Basin, including both saline aquifers and depleted offshore fields”, France’s TotalEnergies said in a press release then. In 2024 Petronas signed an agreement with Abu Dhabi National Oil Co. (ADNOC) and Storegga to collaborate on a potential CCS project with a

Australia’s Santos Ltd. said the BW Opal floating production, storage, and offloading (FPSO) vessel arrived at the Barossa gas field. This is a critical milestone on the path to first gas in the third quarter of 2025, Santos said in a media release, adding that the FPSO has been hooked up with final commissioning already in progress. The FPSO is the production centerpiece of Santos’ Barossa liquefied natural gas (LNG) project. Santos said it and joint venture partners SK E&S and JERA Co. Inc. have invested $3.95 billion (AUD6.07 billion at today’s rates) on the Barossa LNG project to date. “The project has come a long way since regulator acceptance of the Offshore Project Proposal in 2018. The project remains on track for first gas in the third quarter of 2025, and within the original cost guidance, which is a remarkable achievement”, Kevin Gallagher, Santos Managing Director and Chief Executive Officer, said. “Barossa is a world-class asset and, together with the Pikka phase one project in Alaska, is expected to deliver a 30 percent increase in production over the next eighteen months or so compared to 2024.  These projects will set the company up with long-term, stable cash flows to underpin compelling shareholder returns”. Furthermore, the Darwin LNG life extension (DLE) project, which will support the Barossa LNG project, is on track to be completed by the start of the third quarter of 2025, with 90 percent of the work now done, Santos said. The DLE project and its associated infrastructure have created 300 construction and maintenance jobs in Darwin, with a total investment of AUD 1 billion. Santos’ operations at Darwin LNG, which employ a 100 percent local workforce, are expected to generate around AUD100 million per year in supply and service opportunities for Northern Territory businesses, Santos said.