The White Dunes project, spearheaded by Falcon Capital Dakhla, is set to emerge as a prominent hub for the production of what is touted to be "some of the world's cheapest green hydrogen."
The value of the options amounts to approximately $138 million, excluding integrated services, performance incentives, and fuel.
The farmout agreement, pending regulatory approval, marks SEEL’s debut in the UK carbon storage sector, joining CCL and license operator Perenco in a strategic decarbonization initiative.
The drilling program, managed by Odfjell Drilling, is scheduled to be carried out using the semi-submersible rig Deepsea Yantai.
This financial arrangement is designed to effectively manage Tullow's senior notes maturing through 2026.
Recognized for its remote location, challenging conditions, and ultra-deep waters, this site is of strategic importance for future energy operations in the region.
The recent fleet status report, issued on August 1, indicates the company's continued success and expansion within the offshore drilling sector.
Despite the prospectivity of the license, the undermining of investor confidence in the sector's development potential has impeded the transaction.
The cluster encompasses three fields, namely Abu, Abu Kecil, and Abu SW Upthrown, with a combined estimated reserve of 5 million stock tank barrels.
The tender, which encompassed 11 shallow-water blocks and three deepwater blocks, saw both companies submitting bids, as confirmed by a statement from the Guyana government, as reported by Reuters.
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