I-Byte Energy july 2021

IT Shades
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I-Bytes
Energy
July Edition 2021
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Sponsoring Companies for this Edition
LOGO 1 LOGO 2 LOGO 3
LOGO 4 LOGO 5

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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates..................................................................................................................................................8
3. Rewards and Recognition Updates...................................................................................................................13
4. Customer Success Updates................................................................................................................................15
5. Partnership Ecosystem Updates.......................................................................................................................18
6. Environmental & Social Updates.....................................................................................................................43
7. Miscellaneous Updates......................................................................................................................................52

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Financial, M & A
Updates Energy Industry

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Financial, M&A Updates
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BP (UK) closes on 7X solar acquisition
The projects are spread across 12 US states, with the largest
portfolios in Texas and the Midwest (PJM). Assets with a combined
generating capacity of 2.2GW are expected to reach final
investment decision by 2025, with further projects progressing by
2030. Once developed, these projects will have the capacity to
generate enough clean energy to power around 1.7 million US
homes. The development is also expected to support thousands of
jobs through construction. The assets will be developed through
bp’s 50-50 solar joint venture Lightsource bp, a global leader in
solar energy, applying Lightsource bp’s capabilities to accelerate
bp’s renewables targets. The projects are expected to meet bp’s
disciplined low carbon investment criteria, generating returns of at
least 8-10%.
Executive Commentary
Bp America chairman and president said: “The benefits of these
projects are spread wider than just bp – it will create and support
US jobs, deliver competitive returns for our shareholders, and
provide reliable, affordable and clean energy. It’s one of the
many ways we’re in action to help the world reach net zero.”
Description
1

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EQT (USA) Infrastructure acquires Meine Radiologie and Blikk to form a leading
radiology and radiotherapy provider in Germany
EQT is pleased to announce that EQT Infrastructure has agreed to
acquire Meine Radiologie Holding GmbH from Triton Partners and
Blikk Holding GmbH from DBAG Fund VII, a private equity fund
advised by Deutsche Beteiligungs AG. DBAG will remain a
minority shareholder in the combined group given its experience
supporting Blikk and high conviction in the long-term attractiveness
of the sector. Terms and conditions of the transaction are not
disclosed. Meine Radiologie and Blikk were both founded in 2017
and have since then grown to become two highly reputable
radiology players in Germany, together employing more than 1,300
people across 65 locations. Both companies are underpinned by
long-lasting medical experience from their respective management
teams and radiology practices.
Chief Executive of Blikk said, “The Blikk management team is
looking forward to building a leading radiology provider in
Germany with the support of EQT Infrastructure and alongside
our fellow colleagues at Meine Radiologie. Our shared values
and vision of the importance of medical excellence, patient focus
and innovation pave the way for an exciting new phase of
development for our company.”
Description
2

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EQT (USA) Private Equity and Goldman Sachs Asset Management to acquire Parexel,
a leading global clinical research organization, for USD 8.5 billion
The EQT IX fund and the Private Equity business within Goldman Sachs
Asset Management have agreed to acquire Parexel a leading global clinical
research organization from Pamplona Capital Management for an enterprise
value of USD 8.5 billion. Parexel was founded in 1982 and is
co-headquartered in Durham, NC and Newton, MA, USA. The Company has
significant expertise across the drug development and commercialization
continuum, offering a comprehensive suite of outsourced clinical research
services, as well as regulatory, market access, and strategy consulting services.
Parexel’s services enable the pharma and biotech industry to develop
innovative new medicines that improve the health of patients across the world.
The Company has a strong patient centric focus, having been a driving force in
the market shift towards decentralized clinical trials and increased patient
diversity over the last few years. Parexel employs more than 17,000 people
and conducts clinical trials in more than 95 different countries.
CEO of Parexel commented, “We are proud of what Parexel has achieved
over the recent years in collaboration with Pamplona, and the
transformative journey that we have embarked on. EQT and Goldman
Sachs are two leading global institutions with significant experience and
expertise in the healthcare sector, and I am excited to partner with both in
the next stage of our journey.”
Description
3

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OMV (Austria) and MOL Group reach agreement for MOL Group to acquire
OMV Slovenia
OMV, the international, integrated oil, gas and Chemicals Company
headquartered in Vienna, Austria, and MOL Group, a leading
international, integrated oil and gas company headquartered in
Budapest, Hungary, announced the agreement for MOL Group to
acquire OMV Slovenia. The agreement encompasses 120 filling
stations as well as OMV’s wholesale business in Slovenia. The
transaction is subject to required regulatory approvals and closing is
expected in 2022. The agreed purchase price amounts to EUR 301 mn
(100% share). As part of the agreement, MOL Group will assume
outstanding lease liabilities resulting in a total enterprise value for the
business of approximately EUR 346 mn. The purchase price is subject
to customary net working capital and net debt adjustments.
“With this, we are taking another decisive step towards
implementing our 2-billion-euro disposal program. This
divestment not only contributes significantly to our deleveraging, it
also means a further strategic optimization of our portfolio,” says
Chairman of the Executive Board and CEO of OMV.
Description
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PKN ORLEN (Poland) has more time to select a countermeasure partner
The European Commission extended the deadline for remedial measures under the
acquisition of Grupa LOTOS by PKN ORLEN until November 14, 2021. This is a
standard procedure used by companies, especially in complex transactions. As a
result, it will be possible to analyze the offers of partners with whom talks on the
implementation of remedial measures are conducted in terms of benefits for all
stakeholders. One strong concern, based on diversified sources of income, which is
being built by PKN ORLEN, is a guarantee of a successful transformation of the
energy sector in Poland. To this end, PKN ORLEN took over Energa in April 2020,
which supplemented the Group's portfolio with renewable energy sources. At the
same time, the merger with Grupa LOTOS and PGNiG is being carried out, which
will enable the creation of an entity with total annual revenues of approximately PLN
200 billion and total, diversified operating EBITDA, estimated at approximately
PLN 20 billion. This means that in terms of capitalization and achieved financial
results; a strong Polish multi-energy concern will match or even exceed the potential
of European competitors.
“The merger of PKN ORLEN and Grupa LOTOS is another step towards the
creation of a multi-energy concern, which will be an effective response to the
challenges of the energy transformation and the growing competitive pressure
from global, integrated players. It is a process that will bring real benefits to all
involved companies, their shareholders, employees, customers, and also to the
Polish economy. To guarantee this, we need to select an investor for
countermeasures that will ensure long-term sustainability. This is a priority for
us, and taking into account the complex nature of the transaction, the consent of
the European Commission to extend the deadline for negotiations is good news”
says President of the Management Board of PKN ORLEN.
Description
5

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ORLEN (Poland) Lietuva took over the only transshipment terminal at the border
with Poland
ORLEN Lietuva a company from the ORLEN Group, acquired 100% of shares in the
Lithuanian company Mockavos Terminalas, thus taking control of the only railway
transhipment terminal at the Polish-Lithuanian border. It is used for the transhipment
of petroleum products manufactured at the Mazeikiu refinery and intended for the
Polish and Ukrainian markets. The terminal in Mockava was built in 2017. Its area,
together with the adjacent land, is approx. 40 ha. The total tank capacity of the
terminal is 19 thousand. m3, while the reloading capacity is estimated at 1.2 million
tonnes of liquid fuels per year. In the preparation of the transaction, ORLEN Lietuva
used the advisory services of PwC and PwC Legal. The Lithuanian company is one
of the pillars of the ORLEN Capital Group, generating significant financial benefits.
In the first quarter of this year, ORLEN Lietuva generated revenues of USD 752.7
million. Profits amounted to USD 23.6 million net, and LIFO EBITDA was USD
17.9 million. The good financial results of the company are the result of, inter alia,
implementation of innovative projects and implemented optimization measures at the
Mažeikiai refinery.
“We have successfully finalized a project that is strategic for the future of
ORLEN Lietuva. So far, we have used the terminal in Mockava based on a
cooperation agreement with the company managing it. Taking over the terminal
means for us specific savings and an increase in independence, and in the longer
term also the possibility of implementing further ambitious development plans in
the area where the terminal is located” says President of the Management Board
of ORLEN Lietuva.
Description
6

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TotalEnergies (France) Acquires 10% of Arctic Transshipment LLC from Novatek
TotalEnergies has signed a Sale and Purchase Agreement (SPA) with
Novatek to acquire 10% of Arctic Transshipment LLC, a wholly owned
subsidiary of Novatek, which owns and will operate two liquefied
natural gas (LNG) transshipment terminals being built in the Murmansk
and Kamchatka regions of Russia. These terminals will provide export
logistics services, including to the Arctic LNG 2 project under
construction, and will each initially include a 360,000 m3 floating
storage unit (FSU) and two ship-to-ship transfer kits (STS). They will
allow for the transshipment of LNG from Arc7 ice class LNG carriers,
which provide transport on the iced waters of the Arctic Ocean, to
conventional LNG carriers, which take care of the remaining delivery.
By limiting the use of Arc7 ice class LNG carriers, this optimization of
the logistic reduces the costs and CO2 emissions of the LNG transport.
"We are pleased to have signed this acquisition with Novatek, our
long-standing strategic partner, which is in line with our strategy of
integration along the entire LNG value chain. These terminals mark
an important step in the advancement and consolidation of the Arctic
LNG 2 project, and will contribute to the safe and sustainable export
of cargoes from our existing and developing Yamal projects,”
Chairman and CEO of TotalEnergies, on the occasion of the signature
at the Saint Petersburg International Economic Forum.
Description
7

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Solutions Updates
Energy Industry

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Solution Updates
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Pure Planet and BP (UK) launch new digital carbon-information services
for householders and motorists
8
Solution Description
100% renewable energy supplier Pure Planet and bp are launching a new digital service that allows households and drivers of petrol, diesel and
electric cars to accurately see the financial cost and the emissions of their personal energy use. The new service is free to all Pure Planet Members
on their app from and gives users unrivalled insights into their energy consumption, ways to reduce energy use and save money. For the first time,
Members will be able to link their home energy tariff and their electric vehicle (EV), giving real-time cost per mile data, cost per charge and CO2
emission savings compared with a petrol or diesel car. Non-EV drivers will be able to see potential savings from switching to an electric vehicle.
The service comes as new research from Pure Planet shows a strong desire from UK households to help the UK reach the Government’s Net Zero
target. Members can access features powered by bp that enable them to:
• Understand and access personalised insights into energy consumption, cost and carbon emissions associated with their home and related to
mobility in one place
• Discover life with an EV by comparing the fuel costs and CO2 emissions of their current vehicle with a suitable EV
• Connect their EV to their Pure Planet’s app and understand their total cost of charging, home and away, along with remaining battery charge
and miles remaining.

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Solution Updates
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BP (UK) pulse opens UK’s first fleet rapid charging hub
9
BP (UK) pulse has opened the UK’s first rapid charging hub for fleet vehicles. The new multi-charger hub on Park Lane in Central London can
already provide rapid charging for 10 vehicles simultaneously and bp pulse plans to more than double its capacity in the coming months. The hub
demonstrates bp pulse’s commitment to provide EV drivers with fast, reliable and convenient charging. The company intends to open hundreds of
similar hubs across London and other UK and European cities by 2030, further supporting the transition of businesses and fleets to electric
vehicles. bp’s ambition is to become a net zero company by 2050 or sooner and help the world get to net zero. Electrification is at the heart of its
convenience and mobility strategy and bp aims to grow its operated network of public EV charging points to over 70,000 worldwide by 2030. bp’s
EV customers already have access to around 8,700 rapid and ultra-fast charging points, including a fast-growing network at bp retail sites in the
UK and Germany (Aral). These new hubs will expand bp’s offering to fleet customers by providing rapid charging in major cities. As part of its
strategic relationship with bp, Uber is bp’s first fleet customer to get access to the new hubs, with dedicated charge points for Uber partner-drivers.
Uber’s vision is to electrify all cars on its app in London by 2025. The bp pulse hubs will support this by providing an extensive and reliable
charging network. Partner-drivers on the Uber app will also benefit from discounts on bp pulse public charging and home charging units.

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Solution Updates
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NOV (USA) launches new at-bit sensor to enhance application-specific bit
designs
10
The BitIQ sensor’s analysis capabilities will benefit from access to the large volume of drilling data. The ReedHycalog name is synonymous with
high-performance and efficiency. Having built a solid presence in the drill bit market, the ReedHycalog team continues to release innovative
technologies that push the limits of design and performance. The BitIQ™ bit sensor is the latest addition to the ReedHycalog fixed cutter portfolio. The
tool delivers at-bit vibration statistical data that enables more effective drill bit design iterations, targeted cutter improvements, and application
appropriate bit selection. The BitIQ™ sensor measures, records, and consolidates statistical summaries of at-bit vibrations (axial, lateral, and
tangential), downhole temperature, and gyro RPM. The easy-to-use BitIQ sensor offers simple installation and operation, with no additional personnel
required at the rigsite. After a bit run, the recorded data is downloaded via a custom mobile application and uploaded to a cloud-based system for
processing. The data is processed with proprietary algorithms, and a statistical vibrations summary report is produced within minutes of data capture,
providing crucial insights into at-bit dynamic events. The BitIQ report provides the informed correlation between bit dull and at-bit vibrations, enabling
data driven drill bit design decisions that help you further improve drilling efficiency through drilling parameter optimization and the implementation
of best practices. As the BitIQ sensor is implemented in more wellbores, the cumulative access to reliable data will support concurrent drill bit designs
and the efficient development of future drill bit solutions.

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Solution Updates
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Repsol (Spain) launches a comprehensive sustainable financing framework
11
Repsol has launched a comprehensive sustainable financing framework to accompany its energy transition process. It is the first company in its sector worldwide to present an
overarching framework that incorporates both instruments aimed at financing specific projects (green and transition) and those linked to the company’s sustainability
commitments (Sustainability-Linked Bonds). This approach offers flexibility and transparency in the issuance of financial instruments. Repsol, thus, takes a meaningful step
forward in its commitment to become a net zero emissions company by 2050. The new sustainable financing framework is aligned with the 2021-2025 Strategic Plan that the
company presented last November and allows access to the necessary financial resources for its implementation, reinforcing the company’s continued leadership in energy
transition within its sector. Repsol's Transition Financing Framework has been verified and certified by the ISS rating agency in line with the principles of transparency and best
practices. The three types of financial instruments included in this umbrella framework are divided into two categories:
• Use of Proceeds Instruments: green bonds and transition bonds, both subject to the Green Bond Principles published by the International Capital Markets Association
(ICMA). The funds raised with the former will be used to finance green projects eligible under the standards of the European Union (renewable energy, renewable hydrogen,
etc.). The funds from the transition instruments will be allocated to additional activities and projects that also contribute to sustainable objectives and are part of Repsol's energy
transition strategy.
• Sustainability-linked bonds or instruments (SLB) whose economic conditions are linked to the fulfillment of key sustainability objectives of Repsol as a company. These
bonds are subject to ICMA's Sustainability-Linked Bond Principles. For monitoring purposes, the company's Carbon Intensity Indicator, which measures CO2e emissions per
unit of energy produced by the company (g CO2e/MJ), will be set as a verifiable indicator.

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Solution Updates
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TotalEnergies (France) and GHGSat Launch a New Initiative to Monitor
Offshore Methane Emissions by Satellite
12
As part of its commitment to identify quantify and reduce methane emissions linked to its operations, TotalEnergies is partnering with
GHGSat to develop a satellite imaging technology to monitor potential methane leak occurrences at offshore facilities. This new
technology, known as “Glint Mode”, annuls interference effects on data acquisition by observing sun glint on the ocean surface. This
satellite imaging can be combined with local measurements for which TotalEnergies has developed the ultra-light AUSEA1
drone-mounted spectrometer, considered to be the most accurate in the world. TotalEnergies and GHGSat have been working
together since 2018 to refine methane emissions measurement thresholds in order to detect increasingly smaller emissions so that
leaks can be prevented as far upstream as possible. In October 2020, the partners set a world record at TotalEnergies’ TADI2 testing
complex, which is equipped with leading-edge detection resources, by successfully quantifying the smallest controlled leak detected
to date. TotalEnergies and GHGSat are taking a new step with this initiative and will be conducting six satellite observations in Glint
Mode of TotalEnergies offshore sites. This partnership builds on TotalEnergies’ commitment within the United Nations
Environmental Programme (UNEP) Oil and Gas Methane Partnership (OGMP) to reduce the industry’s methane emissions.

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Rewards & Recognition

R & R Updates
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Marathonpetroleum (USA) Los Angeles refinery recognized for community
partnership and investment
13
The Los Angeles refinery has been honored for a level of community investment that sets it apart from hundreds of companies in the
surrounding region. The Long Beach Area Chamber of Commerce recently named the refinery its Corporate Citizen of the Year based on
the facility’s employee volunteerism and financial assistance to charitable causes over the past five years. The refinery’s stakeholder
engagement addresses a variety of needs, such as:
• Funding science, technology, engineering and mathematics (STEM) education at local schools and museums
• Assisting environmental and sustainability awareness programs
• Supporting first responders
• Partnering with organizations that help the community’s most vulnerable residents
For 2019-2020, the refinery’s community investments amounted to approximately $2 million, and employees recorded almost 1,700
volunteer hours. The Long Beach Area Chamber of Commerce has more than 770 member businesses. This is the first time the Los
Angeles refinery has received the Corporate Citizen of the Year award, which was launched in 2007.
R&R Description

R & R Updates
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TATNEFT (Russia) entered the top three "green" ranking of Russia
14
The company was named among the best in environmental, social and corporate governance in the first ESG ranking of Russian public
companies in the non-financial sector. The first ESG-ranking of non-financial companies in Russia includes 105 issuers from among the
largest industrial enterprises and companies in the consumer sector, whose securities are traded in the first and second quotation lists of
the Moscow Exchange. Companies were evaluated on 80 different indicators. The companies were assessed by the National Rating
Agency (NRA). The first three are Rostelecom, Severstal and Tatneft. Among the companies in the fuel and energy complex, the rating
also includes PJSC Polyus (4th position), LUKOIL (6), Rosneft (8), Gazprom (9). Environmental protection is one of the top priorities
for TATNEFT. In 2019, the Company joined the UN Global Compact, has a high level of integration into business processes of all aspects
of sustainable development and continues to increase its contribution to the fight against climate change, announcing the transition to
carbon neutrality by 2050. Sustainable Development Goals The Company has integrated into its fifth Environmental Program and is
focusing its efforts on preventing possible negative impact on the environment and reducing greenhouse gas emissions, taking into
account the requirements for the transition to the best available technologies.
R&R Description

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Customer Success

Customer Success Updates
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Kuwait Oil Company Selects Halliburton (USA) for Digital Transformation
Projects
15
Halliburton Company announced it received a contract from Kuwait Oil Company (KOC), a world leader in digital
transformation, to expand KOC’s digital transformation journey by implementing solutions to maximize operational
efficiency and increase production. The scope applies to all Kuwait fields including West Kuwait, South and East Kuwait,
and Heavy Oil, complementing a recently awarded contract for similar services in North Kuwait. Halliburton will
collaborate with KOC to accelerate their data-to-decisions cycle by implementing automated work processes and digital
twins across KOC’s major assets. The solutions will leverage DecisionSpace® 365, Halliburton’s cloud-based
subscription service for E&P applications, to automate work processes to accurately plan, forecast, and optimize
production throughout the KOC portfolio. Built on an open architecture, the service integrates Halliburton and third-party
technologies to enhance operational performance and increase ultimate recovery.
Description

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TechnipFMC (UK) Awarded a Significant Integrated EPCI (iEPCI™)
Contract for Tullow’s Jubilee South East Development, Ghana
16
TechnipFMC has been awarded a significant integrated Engineering, Procurement, Construction and Installation (iEPCI
™) contract for the Jubilee South East development, located offshore Ghana. It will be the company’s first iEPCI™ project
with Tullow Ghana Ltd. Jubilee South East is an extension to the Jubilee field. The contract builds upon TechnipFMC’s
established relationship with Tullow and covers supply and offshore installation of all major subsea equipment, including
manifolds and associated controls, flexible risers and flowlines, umbilicals, and subsea structures. At the pre-tendering
stage, TechnipFMC utilized its Subsea Studio™ digital solutions to help optimize field layout. Subsea Studio™ is the
company’s portfolio of design and monitoring tools which help clients to improve economics, enhance performance, and
reduce emissions throughout the life of a project. Jonathan Landes, President, Subsea at TechnipFMC, commented,“We
are proud to continue supporting Tullow Ghana in the development of the Jubilee field. This is the first time Tullow has
used our iEPCI™ model, which enables us to collaborate even more closely and simplify project delivery.
Description

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TechnipFMC (UK) and Halliburton (USA) Subsea Fiber Optic Solution
Selected By OTC and ExxonMobil
17
TechnipFMC and Halliburton Company announced they received an OTC Spotlight on New Technology Award® for their
OdasseaTM Subsea Fiber Optic Solution, an advanced downhole fiber optic sensing system. ExxonMobil selected the solution
for its Payara development project in Guyana. The award followed completion of front-end engineering and design studies and
qualifications. The Odassea™ service integrates hardware and digital systems to strengthen capabilities in subsea reservoir
monitoring and production optimization. Halliburton provides the fiber optic sensing technology and analysis for reservoir
diagnostics. TechnipFMC provides the optical connectivity from the topside to the completions. Through this collaboration,
operators can accelerate full field subsea fiber optic sensing, design, and execution. The Payara development, located 200
kilometers offshore Guyana in 1,800 meters water depth, is the third development within the Stabroek block with current
discovered recoverable resources estimated at approximately 9 billion oil-equivalent barrels. TechnipFMC and Halliburton are
delivering Odassea™ solutions to multiple other subsea projects at all stages from conceptual design to execution.
Description

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Partner Ecosystem

Partner Ecosystem Updates
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BP (UK), Aker and Statkraft join forces for offshore wind in the Norwegian
North Sea
18
BP (UK) agreed to join Statkraft and Aker Offshore Wind in a ‎consortium bidding to develop offshore wind energy in Norway. The
partnership – in which bp, Statkraft and Aker Offshore Wind will each hold a 33.3% ‎share – will pursue a bid to develop offshore wind
power in the Sørlige Nordsjø II (SN2) ‎licence area. SN2’s favourable location provides power export access to local and adjacent markets.
The ‎consortium also intends to explore opportunities to provide clean power to electrify ‎offshore oil and gas facilities. The partnership
would work with local suppliers, building ‎industrial competencies for Norway’s offshore wind market, and contribute toward value
‎creation in the Nordic and European energy market. The consortium brings together the individual companies’ strong technical skills and
deep ‎experience in offshore energy projects, covering the full value chain from development to ‎the delivery of offshore renewable energy
to market.‎ bp has interests in the offshore wind sector in the both the US and UK and a longstanding ‎onshore wind business in the US. It
brings strong North Sea development and operating ‎experience, international energy trading capabilities and a disciplined financial
framework to ‎the partnership.‎ As Europe’s largest producer of renewable energy, Statkraft’s expertise in energy ‎management and its
experience and competence in wind farm development and ‎operations provide a foundation for success in developing SN2.‎
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Ecopetrol (Colombia) and Parex strengthen alliance for the development of
two blocks in Arauca
19
Ecopetrol informs that it signed an agreement with Parex Resources for this company of Canadian origin to assume the operation of the
Arauca and Llanos 38 blocks. This alliance will allow the reactivation of an important oil zone in the department of Arauca. The
agreement contemplates a future participation in production and reserves of 50% for Ecopetrol and 50% for Parex. Once the agreement
is signed, the process of transfer of interests owned by Ecopetrol in the Llanos-38 block and reactivation activities in the Arauca area will
begin immediately with the National Hydrocarbons Agency (ANH). Llanos 38 and Arauca are located approximately 40 kilometers north
of the Capachos block, in which Parex is also an operator and is a partner of Ecopetrol, each with 50%.Initial activity on the Llanos 38
block will focus on the Califa 1 exploration prospect which is expected to be drilled in 2022. Additional 3D seismic will also be acquired
to further evaluate the potential of the area. Meanwhile, in the Arauca block, it is seeking to resume production of light oil between 38-41
° API by drilling two development wells. The development of the two blocks represents an opportunity for the economic reactivation of
this important producing area in Colombia, where the Caño Limón field is also located, discovered in the 1980s and in which Ecopetrol
has a stake.
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Equinor (Norway): Developing Lavrans and Kristin Q in the Norwegian Sea
20
Equinor (Norway) and the partners Petoro, Vår Energi and Total E&P Norge have decided to develop the Lavrans discovery and the Kristin
Q-discovery which is a part of the Kristin field. This constitutes phase 1 of the Kristin South project, and the plan for development and
operation (PDO) will be submitted to the minister of petroleum and energy. Capital expenditures for this first phase will total about NOK 6.5
billion. Production from Lavrans and Kristin Q will be tied into the Kristin platform. A subsea template will be installed at Lavrans, while at
Kristin Q an already installed subsea template will be reused. A total of five wells are planned to be drilled, four at Lavrans and one at Kristin
Q. The Lavrans discovery was discovered in 1995. The discovery has a large gas volume, and a high value potential. Lavrans is a complex
reservoir and the production qualities are uncertain. The Lavrans wells are therefore designed to reduce this uncertainty by having long
horizontal production zones in the reservoir. Kristin Q is located in the southern part of the Kristin field. Like the rest of the Kristin field,
Kristin Q is a high-pressure, high-temperature reservoir. Lavrans and Kristin Q will be developed as one project with a shared pipeline to the
Kristin platform. The plan for development and operation also includes a description of possible future phases of the Kristin South project,
including a possible next phase of Lavrans, as well as possible development of the Erlend and Ragnfrid discoveries.
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Lukoil (Russia) and Yugra Region Conclude Additional Cooperation Agreement
21
President of LUKOIL Vagit Alekperov and Governor of the Khanty-Mansi Autonomous District – Yugra Natalya Komarova signed an additional social
and economic cooperation agreement in Kogalym (Yugra, Russia). The document provides for continuing construction of an education centre (a branch
of Perm National Research Polytechnic University) in the city of Kogalym; its opening will promote training of oil and gas engineers. Construction of
a sports complex, which will be able to accommodate up to two thousand visitors a day, will go on in the town of Pokachi. A number of other
infrastructure projects are also set for implementation. In 2020, LUKOIL supported reconstruction of a hockey rink and the Neftyanik culture centre in
the town of Langepas, construction of the Urai Arena covered ice rink in the town of Urai, renovation of a museum park devoted to traditional
architecture of the Khanty people in the village of Russkinskaya, and reconstruction of the Olimp sports complex in Kogalym. LUKOIL also helped to
carry out complete overhauls of education, culture and sports institutions and rendered its assistance to medical facilities in Yugra towns and
settlements. With the company's assistance, Kogalym also acquired a number of new public amenities over the last few years, such as the Galaktika
sports and culture centre, the Church of the Holy Martyr Tatiana, the first local branch of the State Academic Maly Theatre outside Moscow, and an arts
centre of the Russian Museum. During their visit to Kogalym, Natalya Komarova and Vagit Alekperov held a meeting devoted to implementation of
social projects in the city and inspected construction sites of Ibis Style Kogalym hotel, tennis center and a future park in Sibirskaya Street.
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NOV (USA) and Schlumberger (USA) announce collaboration to accelerate
adoption of automated drilling solutions
22
Hoping to accelerate the adoption of automated drilling solutions in the oil and gas industry, NOV and Schlumberger have
announced a collaborated solution for operators and drilling contractors. The combination of NOV’s rig automation platform with
Schlumberger’s surface and downhole drilling automation will enable customers to deliver optimized well construction
performance. The offering automates manual workflows, which will improve safety, facilitate quick decision making, and
promote consistency and efficiency across all affected operations. The collaboration relies on NOV’s NOVOS™ process
automation platform, which controls and operates all NOV rig equipment available and within operational purview, along with
advanced artificial intelligence from Schlumberger’s DrillOps on-target well delivery solution. The two systems work together to
enforce procedures consistently and to attain the best possible operational performance. The NOVOS platform automates
repetitive drilling activities, resulting in repeatable processes and optimizing drilling programs. The DrillOps family of solutions
consists of modular technologies that execute drilling plans and automate tasks to achieve higher levels of efficiency.
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NOVATEK and TotalEnergies (France) Sign MOU on DE carbonization,
Hydrogen and Renewables--ennn
23
Saint-Petersburg International Economic Forum in the presence of Minister of Energy of the Russian Federation Nikolay
Shulginov, PAO NOVATEK and a subsidiary of Total Energies SE signed a Memorandum of Understanding (“MOU”) on
decarburization, hydrogen and renewables. The Parties intend to cooperate on reducing greenhouse gas emission at joint
projects by implementing carbon capture and storage technologies and utilizing renewable energy sources at joint LNG
projects. In addition, the MOU considers the production and usage of hydrogen as a low-carbon fuel, as well as the
marketing of carbon-neutral products including LNG. Specifically, technical solutions will be considered to improve the
efficiency of power generation for LNG production, including using waste heat utilization technologies. The MOU also
envisages developing and deploying technologies to convert gas turbine equipment to hydrogen fuel. Furthermore, the
Parties also agreed to work on solutions for the construction of wind power generation facilities and other renewable
energy sources to reduce the carbon footprint of LNG projects.
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Ørsted (Denmark) and POSCO sign MoU to strengthen collaboration on
offshore wind and renewable hydrogen in Korea
24
Ørsted, the world's most sustainable energy company, and POSCO Group, one of the largest conglomerates in Korea, announced the
signing of a Memorandum of Understanding (MoU) to expand their relationship. POSCO and its affiliates will apply the group's joint
capabilities to support the development of Ørsted's 1.6 GW offshore wind projects off the coast of Incheon City. Moreover, Ørsted and
POSCO will conduct feasibility studies on potential collaboration on renewable hydrogen. Korea has set an ambitious target of installing
12 GW offshore wind capacity by 2030. In September 2020, Korean President Moon Jae-in further announced the Green New Deal which
targets net zero emissions by 2050. With this MoU, Ørsted takes another significant step, in addition to the company's flagship Incheon
projects, in pioneering renewable energy development in Korea and supporting Korea in the country's transition to clean energy. Ørsted
has a well-established relationship with POSCO, whose steel business has been one of the strategic global suppliers and a trusted partner
supplying over 100,000 tons of steel for Ørsted's Hornsea 1 and three other offshore wind farms. In December 2020, POSCO Group
joined the Korean government's decarbonisation declaration, announcing its ambition to become a leading renewable hydrogen company
and reaching carbon neutrality by 2050. https://orsted.com/en/media/newsroom/news/2021/05/485816487947204
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Ørsted (Denmark) and HOFOR enter into agreement on green power for
groundbreaking hydrogen project
25
Ørsted and HOFOR entered into an agreement that will secure green power for part of the potential 1.3 GW Green Fuels for Denmark project to produce
sustainable fuels in the Greater Copenhagen area. As part of the agreement, Ørsted and HOFOR will work towards enabling Ørsted to offtake the power
produced at Aflandshage, which is HOFOR's 250 MW offshore wind farm project in the Oresund Strait. At the same time, it has been agreed that
HOFOR may place the offshore wind farm's substation at the premises of Avedøre Power Station. Together, Ørsted and HOFOR will seek to realise both
technical and trading-related synergies between the two projects. The future cooperation and the concrete design of the link between the wind farm and
the PtX plant is subject to all regulatory as well as grid connection matters falling into place. Provided that a framework is established in Denmark
promoting the development of sustainable fuels, the power from Aflandshage could enable parts of Green Fuels for Denmark's second phase of 250 MW
and meet the power demand for the project's first phase. In addition to Green Fuels for Denmark, the agreement on Aflandshage could potentially also
cover the power demand of the electrolysis plant that will supply hydrogen to DFDS's proposed hydrogen-powered ferry between Copenhagen and
Oslo, if this project is realised. Aflandshage is being developed, and subject to regulatory approvals, HOFOR expects the project to deliver first power
in 2024/2025. The power can be brought onshore at Avedøre Power Station, which is owned by Ørsted, and where Green Fuels for Denmark could be
located.
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Ørsted (Denmark) announces partnership with Falck Renewables and BlueFloat
Energy to unlock floating wind potential in Scotland
26
Ørsted, the world leader in offshore wind, announces a partnership with onshore wind community engagement pioneer Falck
Renewables and floating wind expert BlueFloat Energy, to participate in the upcoming ScotWind leasing round. The consortium
is set to apply for seabed leases in sites which lend themselves to the deployment of large-scale floating wind technology in the
Crown Estate Scotland's upcoming Scotwind leasing round. Since pioneering the first ever offshore wind farm in 1991, Ørsted
has developed and built more offshore wind projects than any other company in the world. Combining this unparalleled track
record with BlueFloat's unique knowledge and experience in developing, financing and executing floating wind projects and
Falck Renewables' track record in global project development and community engagement in Scotland in particular, the
consortium is well placed to deliver world-class floating offshore projects. Unlike more traditional bottom-fixed offshore wind
technology, where the turbine is mounted on top of a structure fixed to the seabed, floating wind projects use a floating foundation
anchored to the seabed by mooring lines, allowing projects to be sited in deeper waters further away from the coast.
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Pembina (Canada) and TC Energy Partner to Create World-Scale Carbon
Transportation and Sequestration Solution: The Alberta Carbon Grid
27
Pembina Pipeline Corporation and TC Energy Corporation are pleased to share their plan to jointly develop a world-scale carbon transportation and
sequestration system which, when fully constructed, will be capable of transporting more than 20 million tons of CO2 annually. By leveraging existing
pipelines and a newly developed sequestration hub, the Alberta Carbon Grid represents the infrastructure platform needed for Alberta-based industries
to effectively manage their emissions and contribute positively to Alberta's lower-carbon economy and create sustainable long-term value for Pembina
and TC Energy stakeholders. Designed to be an open-access system, the ACG will serve as the backbone of Alberta's emerging carbon capture
utilization and storage ("CCUS") industry, connecting the Fort McMurray region, the Alberta Industrial Heartland, and the Drayton Valley region to key
sequestration locations and delivery points across the province, and serving multiple industries. For Canada to achieve its enhanced climate targets,
including a 40-45% reduction in greenhouse gas emissions below 2005 levels by 2030, CCUS technology and infrastructure will need to play a vital
role. Pembina and TC Energy are uniquely positioned to take a leadership role in the transportation of CO2 given their collective skills and extensive
network of pipeline infrastructure. As a hub-based infrastructure solution accessible to Alberta's largest industrial emitters across industries, ACG will
pave the way for Canada to successfully meet its emissions reduction objectives and provides a tangible example of Pembina and TC Energy's
commitment to energy diversification, industry collaboration and a lower carbon future.
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Pembina (Canada) and Inter Pipeline to Combine Highly Integrated and
Complementary Businesses to Accelerate Long-term Strategic Plan
28
Pembina Pipeline Corporation and Inter Pipeline Ltd. announced that they have entered into an arrangement agreement for Pembina to acquire all of the issued and outstanding shares of Inter
Pipeline in a share-for-share transaction which values Inter Pipeline common shares at approximately $8.3 billion, or $19.45 per share, based on the closing price of Pembina's common shares
on May 31, 2021. The Transaction will create one of the largest energy infrastructure companies in Canada, with a pro forma enterprise value of $53 billion and a diversified and integrated
asset base that can support and grow an extensive value chain for natural gas, natural gas liquids and crude oil, from wellhead to end user. Furthermore, past and future investments by both
companies will help access new demand markets for the Western Canadian Sedimentary Basin ("WCSB"), benefitting Pembina, its customers and the provinces of Alberta and British
Columbia alike.
• Combination of highly connected and complementary assets, resulting in greater vertical integration, expanded customer service offerings, and enhanced global market reach to maximize
the value of products produced in the WCSB.
• Near-term synergies of $150 to $200 million annually, which are expected to immediately contribute to meaningful adjusted cash flow per share accretion upon closing of the Transaction.
• Once the Heartland Petrochemical Complex ("HPC") is in full service, the combined company is expected to generate $1.1 billion to $1.4 billion of adjusted cash flow from operating
activities after dividends annually, greatly enhancing its ability to fund existing and future capital investment.
• Combination will accelerate and de-risk accretive investment opportunities across various value chains, allowing for deployment of capital into projects at attractive rates of return. In
addition to the projects currently under construction, the combined company has visible and highly probable unsanctioned investment opportunities in excess of $6 billion.
• Strong financial platform, in adherence with Pembina's financial guardrails, with the addition of significant long-term contracted cash flow and long-lived underlying assets to Pembina's
existing strong foundation.
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Shell (Netherlands) and Deutsche Telekom agree to advance digital innovation
in pursuit of climate goals
29
Shell Gas & Power Developments BV and T-Systems International GmbH Deutsche Telekom's corporate customers arm; have signed a memorandum of understanding
(MOU) to advance digital innovation as both companies accelerate their transitions to net-zero emissions. The MOU builds on an existing technological relationship
between Shell and T-Systems. Under the terms of the agreement the two companies will:
• Pursue the net-zero goals of both companies, their supply chains and customers
• Collaborate on innovations and services to accelerate Shell’s digital transformation
• Work together to identify opportunities to co-invest and participate in new business models focused on the decarbonisation of society
To accelerate the transition to net zero, Shell is supplying renewable energy to T-Systems sister company, T-Mobile US, which is working towards a goal of operating on
100% renewable energy by the end of 2021. In turn, NewMotion and ubitricity, subsidiaries of Shell which provide electric vehicle (EV) charging solutions across
Europe, have awarded T-Systems a contract for Deutsche Telekom field engineers to install more than 10,000 EV chargers in Germany over the next three years. The
collaboration on innovations and services, reflected in the renewed global master services agreement entered into between Shell and T-Systems in 2020, will see Shell’s
current Dynamic Hosting Services solution replaced with the next version of Private Cloud. Both companies will also aim to deepen their IT products and service
capabilities and explore new areas of digital innovation, including Hybrid and Edge Computing, which are different forms of data storage, as well as 5G connectivity.
Shell has also installed immersion cooling technology for greater computing and energy efficiency in one of the T-Systems data centres in Amsterdam, the Netherlands.
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Versalis and Saipem (Italy) together to produce sustainable bioethanol signed
an agreement for the promotion of Versalis’ technology PROESA®
30
Versalis, Eni's chemical company, and Saipem, an engineering and technological platform for sustainability, have signed an agreement to internationally
promote PROESA®, Versalis’ proprietary technology used to produce sustainable bioethanol and chemicals from lignocellulosic biomass. Versalis and
Saipem will provide integrated and technologically advanced solutions for the sustainable production of bioethanol. The PROESA® process does not
use crops intended for human consumption as a raw material, but rather produces second generation bioethanol (referred to as advanced biofuel by EU)
through a process of hydrolysis and subsequent fermentation of agricultural biomasses available in abundance, such as agricultural waste, wood chips
and energy crops. Versalis will manage the commercial aspects relating to the granting of licence rights of the PROESA® technology and will provide
engineering, assistance, and training services. Saipem will be responsible for all the stages of production plants development, from design to
construction. Furthermore, the two companies will collaborate with a dedicated joint team to further developments in the industrial process. The Versalis
plant in Crescentino (Vercelli), where the PROESA® technology was developed, will be the reference plant for international marketing by the two
companies. Versalis, in line with Eni's broader decarbonisation strategy, has launched a transformation plan that aims for its activities and products to
be increasingly diversified and sustainable, providing a technological contribution to the circular economy. The agreement represents a unity of purpose
with Saipem, a partner recognised worldwide in the field of design and in the construction of complex, reliable and optimised industrial plants.
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Repsol (Spain) and Adobe join forces to transform the company's web assets
31
Repsol and Adobe have formalized a technological collaboration agreement to transform all of the company's web assets by using the comprehensive digital
asset and content management system, Adobe Experience Manager (AEM), which constitutes a leap towards a modern model of digital transformation thanks
to its content and resource management system. The system has a common framework for all the websites, guaranteeing the quality and security of the
processes, as well as an agile response at all times. This platform allows the use of the same content manager on all websites to optimize posts, obtaining
better results and ensuring the quality and validity of information automatically. Furthermore, it helps to streamline management, significantly improving
response times through a simple and intuitive interface that facilitates the self-management of digital experiences and the involvement of all the company
areas in the digital relationship with its stakeholders. The infrastructure also has the most advanced security measures, complying with stringent standards
such as ISO 27001, SOC-2 audits, or the national security scheme. It will give the more than 22 million annual visitors to Repsol's website an online
experience that is personalized, unique, easier, more visual, intuitive, and adapted to all devices, since it will offer them content based on their interests and
they will be able to customize it to their preferences. On the other hand, a new cloud architecture optimizes performance by improving response times for the
end users. The new corporate website repsol.com marks the first milestone of a plan that includes the launch of the rest of the group's commercial and
information websites in the next few months: repsol.es, repsol.br, repsol.pt., etc., which will represent the full transformation of Repsol's nearly 30 websites.
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Repsol (Spain) and Renault Group renew collaboration agreement to continue
promoting AutoGas
32
Repsol and Renault Group have renewed their collaboration agreement with the aim of continuing to promote AutoGas in the automotive sector, as part of
their strategy to encourage the use of alternative energies. The two companies share a vision of sustainable mobility and both have set zero-emission targets.
They are actively working on all mobility alternatives available on the market. Repsol's Executive Director of Mobility in the Iberian Peninsula, José
Barreiro, and the General Manager of the Dacia brand in the Iberian Peninsula, Francisco Hidalgo, have signed the collaboration agreement at Campus
Repsol, the corporate headquarters of the multi-energy company. Thanks to this alliance, both companies are committed to promote the benefits of AutoGas
as an alternative and eco-friendly fuel, through its use in vehicles of the Dacia ECO-G range (Duster and Sandero) and the Renault LPG range (Clio and
Captur). The multi-energy company will also carry out actions for both private and professional customers to promote the purchase of these types of vehicles
from the Renault Group. Both Dacia and Renault models hold the top positions in the LPG market in Spain. In 2020, the Dacia Sandero was the leader, with
3,551 units sold and a 31.1% market share, followed by Renault Clio in second position and Dacia Duster, in third. AutoGas reduces nitrogen emissions
(NOx) by 68% and particle emissions by up to 100%, according to data from the European Liquefied Gas Association. It also contributes to reducing the
greenhouse effect by lowering CO2 emissions by 14%, and it reduces noise levels by 50%. For all these reasons, AutoGas vehicles have the ECO label that
is granted by the Spanish General Directorate of Traffic (DGT), a reference for traffic regulations in cities that allows them to circulate without restrictions.
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Repsol (Spain) and Tecnicas Reunidas will develop technologies for industrial
DE carbonization
33
Repsol and Tecnicas Reunidas, the engineering company specialized in the design and execution of projects in the energy sector have signed an alliance to develop
proprietary technology and scale up processes to help transform the industry and advance its decarbonization. Both companies will co-develop technology to
produce sustainable biofuels and bio-based polymers from agricultural and agri-food waste. Through this project, Repsol and Tecnicas Reunidas will also promote
job creation and wealth generation in rural areas at risk of depopulation. Repsol and Tecnicas Reunidas will also develop a new process for the production of
circular materials from used plastics, which will be tested in one of Repsol's industrial complexes. The energy company already includes a wide variety of 100%
circular polyolefins with a lower carbon footprint in its Repsol Reciclex range, with a certified sustainable origin. Another project to be carried out jointly by the
two companies involves optimizing the energy efficiency of industrial complexes through the recovery of residual heat. The technology will be implemented first
at the A Coruña Industrial Complex, as part of the global efficiency improvement plan that Repsol is already employing to transform its industrial centers into
multi-energy hubs with zero net emissions, with an investment of around €400 million until 2025. Finally, within the framework of this agreement and at an
important time for the revitalization of industry, the two companies will make their knowledge, R&D resources, and experience in industrial transformation
available to other companies in the sector through consultancy services aimed especially at SMEs, to advance the energy transition throughout the industrial value
chain. Repsol and Tecnicas Reunidas share a long history in the energy sector. Both companies are characterized by carrying out their activities in many countries
and with a high technological component, to a large extent developed internally thanks to their specific capabilities.
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A company from the ORLEN (Poland) Group together with PGNiG wants to
develop a biogas program
34
ORLEN Południe a company from the ORLEN Group together with PGNiG submitted an application to the Office of Competition
and Consumer Protection to establish a special purpose vehicle that will invest in the development of a network of modern
bio-methane plants. ORLEN Południe has already acquired three installations, most recently in the Jeżewo commune in the
Kuyavian-Pomeranian Voivodeship. From agricultural, waste substrates and residues from the processing industry, they will be used
to produce environmentally friendly biomethane, used in industry or energy. The implementation of the biogas program is in line with
the ORLEN2030 strategy, assuming the development of low- and zero-emission energy. Biomethane is biogas produced from
renewable energy sources with the parameters of natural gas. It is produced by purifying biogas from sulfur compounds and carbon
dioxide. It can be used for transport or as fuel for the production of biohydrogen. The cooperation between ORLEN Południe and
PGNiG, as part of the biogas program, is to be based primarily on the acquisition and construction of biogas installations, the
development of technologies used for the production of biomethane, as well as the production and use of biomethane in various areas
of the companies' operations.
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Rosneft (Russia) and Qatar Foundation Strengthen Cooperation in Science
and Education
35
Rosneft Oil Company and Qatar Foundation have signed an agreement on the cooperation development in science, technology and
education at the 24th St. Petersburg International Economic Forum. The document has been signed as a follow-up to a similar
agreement between the parties dated March 28, 2018. Under the terms of the agreement, parties plan to organise advanced training
and retraining for Russian and Qatari specialists and engineers in educational establishments supervised by Qatar Foundation and in
leading Russian universities that are partners of Rosneft. The parties will exchange scientific and technical information in the oil and
gas industry and will consider the development and the implementation of joint research programmes. The priority areas will be
engineering plastics and polymers, oils and lubricants, gas processing, petrochemicals, green chemistry, etc. To implement research
programmes, Rosneft and QF intend to create a Joint Laboratory Complex at the Rosneft International Center for Research and
Development QSTP-LLC based in QF’s Qatar Science & Technology Park. During the SPIEF-2021, Rosneft and QF have also signed
a memorandum on the development of the engineering infrastructure for the implementation of technological projects in order to
create this Joint Laboratory Complex.
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Rosneft (Russia) and Baker Hughes agree on carbon management cooperation
36
Rosneft and Baker Hughes have signed a Carbon Management Cooperation Agreement at the XXIV St. Petersburg International
Economic Forum. This Agreement confirms the mutual aspiration of Rosneft and Baker Hughes for the joint development, testing
and implementation of advanced carbon management technology solutions. The companies will assess the potential of greenhouse
gases detection, measurement, assessment and emission reduction technologies and equipment application with a focus on methane
emissions at Rosneft production facilities. The implementation of Baker Hughes’ low carbon technologies for drilling, oilfield
services, artificial intelligence digital solutions and energy efficiency application opportunities are expected to contribute to Rosneft’s
overall energy efficiency improvements. The parties will also consider alternative energy sources, including hydrogen opportunities.
Joint advanced low carbon developments and technologies may also be applied as part of the Vostok Oil project implementation in
the north of Krasnoyarsk Territory. The Agreement includes a number of actions for the practical application of modern technologies.
These include exchange of carbon management technical information and sharing of engineering experience, holding joint events and
carbon management workshops and conducting technology pilot tests at the Company operating facilities.
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Schlumberger (USA) and IBM Announce Hybrid Cloud Enterprise Data
Management Solution for Energy Sector---solll
37
Schlumberger and IBM announced the industry’s first commercial hybrid cloud Enterprise Data Management Solution for the OSDU Data
Platform. The hybrid cloud offering is designed to expand access to customers globally—including those in locations where data residency
requirements and local regulations may affect the use of global public cloud—and is engineered to reduce time for analysis and accelerate
decision-making, with all workflow data available in one place. This solution will provide energy operators with full interoperability, making
their data accessible by any application within their exploration to production (E&P) environment through the OSDU common data standard
to enable easy sharing of information between teams. This data solution is engineered to minimize the time for data transfers between
applications to deliver reduced costs as well as enabling improved decision making. The collaboration builds on the work between
Schlumberger and IBM to leverage the Red Hat OpenShift Container Platform for deployment of the DELFI* cognitive E&P environment in
all regions, worldwide. The solution will be offered by Schlumberger; all transition and managed services will be provided by Schlumberger
and IBM Services. Schlumberger is an IBM ecosystem partner, and since the initial announcement the two companies have made significant
advancements to engage customers in focus regions around the world, including the Middle East.
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Schlumberger (USA) and IBM Announce Hybrid Cloud Enterprise Data
Management Solution for Energy Sector---solll
38
Schlumberger and IBM announced the industry’s first commercial hybrid cloud Enterprise Data Management Solution for the OSDU Data
Platform. The hybrid cloud offering is designed to expand access to customers globally—including those in locations where data residency
requirements and local regulations may affect the use of global public cloud—and is engineered to reduce time for analysis and accelerate
decision-making, with all workflow data available in one place. This solution will provide energy operators with full interoperability, making
their data accessible by any application within their exploration to production (E&P) environment through the OSDU common data standard
to enable easy sharing of information between teams. This data solution is engineered to minimize the time for data transfers between
applications to deliver reduced costs as well as enabling improved decision making. The collaboration builds on the work between
Schlumberger and IBM to leverage the Red Hat OpenShift Container Platform for deployment of the DELFI* cognitive E&P environment in
all regions, worldwide. The solution will be offered by Schlumberger; all transition and managed services will be provided by Schlumberger
and IBM Services. Schlumberger is an IBM ecosystem partner, and since the initial announcement the two companies have made significant
advancements to engage customers in focus regions around the world, including the Middle East.
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Schlumberger (USA) New Energy and Panasonic Energy of North America Announce
Strategic Collaboration on New Battery-Grade Lithium Production Process
39
Schlumberger New Energy and Panasonic Energy of North America, a division of Panasonic Corporation of North America, announced that they
have entered into a collaboration agreement for the validation and optimization of the innovative and sustainable lithium extraction and production
process to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in Nevada. This collaboration paves the way for improved
lithium production solutions that will help meet the expected surge in demand for lithium as the electric vehicle (EV) market takes off worldwide.
NeoLith Energy’s sustainable approach uses a differentiated direct lithium extraction (DLE) process to produce high-purity, battery-grade lithium
material while reducing the production time from over a year to weeks. The unique process is in sharp contrast to conventional evaporative
methods of extracting lithium, with a significantly reduced groundwater and physical footprint. Panasonic will provide their guidance to validate
and optimize the lithium material for battery-grade consumption. Situated in Clayton Valley, Nevada, the pilot plant is just 200 miles from
Panasonic’s large-scale advanced battery manufacturing operation, Panasonic Energy of North America, in Sparks, Nevada. As a global
technology company and leader in lithium-ion batteries, Panasonic has a proven track record in innovation and advanced products and solutions
that power the automotive industry. Demand for battery-grade lithium is projected to grow exponentially over the next decade.
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Suncor (Canada) Energy and Terra Nova co-owners reach Agreement in
Principle on Terra Nova
40
Suncor advised that the co-owners of the Terra Nova Floating Production Storage and Offloading (FPSO) facility and
associated Terra Nova Field have reached an agreement in principle to restructure the project ownership and provide
short-term funding towards continuing the development of the Asset Life Extension Project, with the intent to move to a
sanction decision in the Fall. A subset of owners will increase their ownership of the project for consideration payable
from the other owners. Suncor’s ownership will increase to 48% from approximately 38%.The agreement is subject to
finalized terms and approval from all Parties, including board of director approval where appropriate, and is contingent
upon the previously disclosed royalty and financial support from the Government of Newfoundland & Labrador. Further
details will be provided when agreements are finalized. Prior to completion of the restructuring, the Terra Nova co-owners
are Suncor (operator, 37.675%), ExxonMobil (19%), Equinor (15%), Cenovus (13%), Murphy (10.475%), Mosbacher
(3.85%) and Chevron (1%).
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Air Liquide, Borealis, Esso, TotalEnergies (France) and Yara collaborate to
help decarbonize the industrial basin of Normandy in France
41
Air Liquide, Borealis, Esso S.A.F., TotalEnergies and Yara International ASA have signed a Memorandum of
Understanding (MoU) to explore the development of a CO2 infrastructure including capture and storage, to help
decarbonize the industrial basin located in the Normandy region, France. With the objective to reduce CO2 emissions by
up to 3 million tons per year by 2030, which is equivalent to the emissions of more than 1 million passenger cars, the first
phase will consist in studying the technical and economical feasibility of this project. This partnership, which will seek
funding from European, French and Regional schemes, is open to other industrial parties. The ability of industrial players
to reduce their CO2 emissions in the medium and long term is a key issue for the sustainability of industrial activities and
ecosystems in the area of Axe Seine/Normandy. The companies involved in the MoU have agreed to collaborate to assess
the technical and economical feasibility of implementing an industrial CO2 capture and storage (CCS) chain, from their
industrial facilities to ultimate storage in the North Sea.
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Pembina (Canada) and TC Energy Partner to Create World-Scale Carbon
Transportation and Sequestration Solution: The Alberta Carbon Grid
42
Pembina Pipeline Corporation and TC Energy Corporate are pleased to share their plan to jointly develop a world-scale carbon transportation and
sequestration system which, when fully constructed, will be capable of transporting more than 20 million tons of CO2 annually. By leveraging existing
pipelines and a newly developed sequestration hub, the Alberta Carbon Grid ("ACG" or the "Project") represents the infrastructure platform needed for
Alberta-based industries to effectively manage their emissions and contribute positively to Alberta's lower-carbon economy and create sustainable
long-term value for Pembina and TC Energy stakeholders. Designed to be an open-access system, the ACG will serve as the backbone of Alberta's
emerging carbon capture utilization and storage ("CCUS") industry, connecting the Fort McMurray region, the Alberta Industrial Heartland, and the
Drayton Valley region to key sequestration locations and delivery points across the province, and serving multiple industries. For Canada to achieve its
enhanced climate targets, including a 40-45% reduction in greenhouse gas emissions below 2005 levels by 2030, CCUS technology and infrastructure
will need to play a vital role. Pembina and TC Energy are uniquely positioned to take a leadership role in the transportation of CO2 given their collective
skills and extensive network of pipeline infrastructure. As a hub-based infrastructure solution accessible to Alberta's largest industrial emitters across
industries, ACG will pave the way for Canada to successfully meet its emissions reduction objectives and provides a tangible example of Pembina and
TC Energy's commitment to energy diversification, industry collaboration and a lower carbon future.
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Environment & Social Updates
Energy Industry

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The Ecopetrol (Colombia) Group begins vaccination against covid-19 for its
collaborators
43
The Ecopetrol Group began to vaccinate about 12 thousand employees within the 'Companies for vaccination' strategy
that ANDI has coordinated and which it has joined as a sign of its commitment to the health of its employees and to the
economic reactivation of the country. Ecopetrol, Esenttia, Cenit, Hocol, Ecodiesel, Ocensa, ODL, Reficar, ODC and
Equión joined this initiative that seeks to achieve complete and faster immunization coverage for their workers. As of
the process for the application of the biological begins, through the Health Providers Institutions (IPS) defined in
several of the regions of the country where the companies operate. The Ecopetrol Group is one of the 5,000
organizations in the country that joined this program with which the Colombian business sector articulates in solidarity
to protect workers and their families, strengthen the National Vaccination Plan and contribute to health public of the
country.
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Enbridge Expands Natural Gas Access to Ontario Communities
44
Enbridge Inc. announced that in collaboration with the Government of Ontario it is expanding natural gas access to rural,
northern and Indigenous communities in Ontario, Canada. Enbridge will access Ontario's Natural Gas Expansion Program to
support 27 projects to expand natural gas access across the province, helping to keep the cost of energy low for families,
businesses and farmers. The average household could save up to 50 percent in energy costs by switching to natural gas from
costlier fuel sources, and businesses could save up to 30 per cent on energy costs per year. These important impacts are made
possible through the ongoing support of the Government of Ontario and Enbridge's ongoing work with local communities.
Expanding access to natural gas will continue to play a critical role in North America's energy future. It's a lower-carbon fuel
compared to other fuel choices and provides a significant opportunity to help municipalities lower their greenhouse gas
emissions. As a leader in the energy transition, Enbridge is committed to continuing its work to lower the emission intensity
of the natural gas it transports through investment in renewable natural gas and hydrogen.
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Petrobras (Brazil) will deliver two more micro oxygen plants for Covid-19
patient care
45
Petrobras delivery in the coming days two oxygen microusinas to public hospitals that serve Covid-19 patients in states of Paraná and Rio Grande do Norte.
Added to another two delivered in Rio Grande do Sul and Ceará, the company will reach the milestone of four micro-plants donated in the first half of 2021.
The micro-plants are part of a series of voluntary actions by Petrobras to support Brazilian society in fighting the Covid-19 pandemic. The company will
allocate, throughout this year, around R$ 76 million in resources to combat the coronavirus. Part of the amount approved for carrying out these actions comes
from funds recovered by Petrobras in a leniency agreement. In all, Petrobras will donate 12 oxygen micro-plants. The first two, delivered in Ceará and Rio
Grande do Sul, should start working in the coming weeks. With the capacity to produce 25m³ per hour, it is possible to serve 100 beds, 21 of which in the
ICU, which can represent up to 80% of a hospital's consumption, depending on the size of the unit. The definition of hospitals is the responsibility of the state
health departments, while the states that are receiving the micro-plants by Petrobras were defined according to criteria of having Petrobras operating units
(E&P and RGN) and the criticality of bed occupancy and mortality rates by Covid- 19. Still in the effort to expand the supply of oxygen in the public health
network, Petrobras has already donated 900 oxygen cylinders between January and June 2021. So far, the states of Amazonas, Bahia, Ceará, Espírito Santo,
Paraná, Pernambuco, Rio Grande do Sul, Rio Grande do Norte and Sergipe each received 100 oxygen cylinders to benefit the state health departments. The
total number of cylinders donated by Petrobras in the coming months will reach the mark of 2,500 units.
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Petrobras (Brazil) donates about 3,800 computers to public schools in Rio de
Janeiro
46
Petrobras will begin delivering around 3,800 refurbished computers to around 200 state and municipal public schools in Rio of January.
The donation is part of the first stage of the “Windows for Tomorrow” social program for digital inclusion, which also provides training
in information technology for students and teachers in the public school system. With this initiative, Petrobras generates positive impacts
for society and contributes to the development of the communities where it operates. The schools located in the Metropolitan Region (Rio
de Janeiro, Duque de Caxias, Magé and Guapimirim) will be the first to receive the equipment, followed by the cities of Itaboraí, Macaé,
Arraial do Cabo and São Francisco do Itabapoana. By the end of September, delivery will be completed for schools in the other 12 cities
in the state. Each school will receive an average of 20 refurbished computers that will be used for training in information technology,
starting in the second semester. Petrobras will allocate approximately R$ 2.5 million for this activity, which will be carried out in
partnership with Recode, a civil society organization that uses information technology as a mechanism for digital inclusion and
empowerment of vulnerable communities. Training with Elementary School teachers will aim to improve the use of digital technology in
pedagogical practice. With high school students, the objective will be to prepare for the job market.
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Petrobras (Brazil) donates 100 oxygen cylinders to the Rio Grande do Norte
Health Department
47
In yet another initiative to contribute to society in the fight against the Covid-19 pandemic, Petrobras donated 100 oxygen cylinders to
the Rio Grande do Norte State Health Department. The equipment, delivered (6/23), will be used to meet the demand in public hospitals
in the state. Petrobras plans to donate up to 2,500 cylinders to benefit state health departments. Since March, the states of Amazonas,
Paraná, Ceará, Bahia, Sergipe, Pernambuco, Rio Grande do Sul and Espírito Santo have received 100 cylinders each. Delivery to the other
states will be in accordance with criteria such as having Petrobras operations units and the criticality of contamination and mortality rates
by Covid-19. The company will also invest in the acquisition of 12 mini oxygen plants to supply public hospitals, with the capacity to
supply around 20 ICU beds each. The states where the plants will be installed follow the same criteria adopted for the donation of oxygen
cylinders. The donations of food baskets will take place over three months and should benefit 60,000 families in a situation of social
vulnerability, participants in social and environmental projects supported by Petrobras and in extreme poverty living in communities
neighboring the refining and business units company's natural gas. In total, 180 thousand basic food baskets will be donated, in a measure
that aims to guarantee basic food so that these families can go through the most acute crisis period.
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Petrobras (Brazil) Donates 100 Cylinders for Oxygen to the Health Department
of Pernambuco
48
Petrobras donated 100 oxygen cylinders to the Pernambuco State Health Department. The equipment, delivered (6/23), will be used to
meet the demand in public hospitals in the state. Petrobras plans to donate up to 2,500 cylinders to benefit state health departments. Since
March, the states of Amazonas, Paraná, Ceará, Bahia, Sergipe, Rio Grande do Sul and Espírito Santo have received 100 cylinders each.
Delivery to the other states will be in accordance with criteria such as having Petrobras operations units and the criticality of
contamination and mortality rates by Covid-19. The company will also invest in the acquisition of 12 mini oxygen plants to supply public
hospitals, with the capacity to supply around 20 ICU beds each. The states where the plants will be installed follow the same criteria
adopted for the donation of oxygen cylinders. The donations of food baskets will take place over three months and should benefit 60,000
families in a situation of social vulnerability, participants in social and environmental projects supported by Petrobras and in extreme
poverty living in communities neighboring the refining and business units company's natural gas. In total, 180 thousand basic food
baskets will be donated, in a measure that aims to guarantee basic food so that these families can go through the most acute crisis period.
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Phillips (USA) 66 to contribute $250,000 to new Greenwood Rising history
center in Tulsa, Oklahoma
49
Phillips 66 announced it is contributing $250,000 to Greenwood Rising, a new center in Tulsa’s historic Greenwood
District that honors the victims and survivors of the Tulsa Race Massacre of 1921 and the legacy of the city’s Black Wall
Street. The center is being dedicated June 2, nearly 100 years to the day after one of the worst acts of racial violence in
U.S. history left hundreds of Black resident’s dead and much of the Greenwood District, then a thriving neighborhood
known as Black Wall Street, in ashes. The Phillips 66 contribution will fund educational programming at Greenwood
Rising, a nonprofit and legacy project of the 1921 Tulsa Race Massacre Centennial Commission that aims to draw upon
lessons from the past to inspire meaningful and sustainable change. It will support field trips for local area public schools,
volunteerism and the creation of educational material.
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The ORLEN (Poland) Group is taking another step towards zero-emission
energy
50
PKN Orlen and Synthos signed a cooperation agreement for the development and implementation of zero-emission nuclear technology
and SMR MMR. Its implementation is in line with the strategic goal of the Company, which is to achieve emission neutrality by 2050 and
will ensure the improvement of Poland's energy security. Small nuclear reactors (SMR) are units that generate electricity, which, unlike
traditional nuclear power plants, have a total power of up to approx. 300 MW, are manufactured in series and delivered entirely to the site
of operation. This allows you to use the economic effect of the scale of series production and obtain a relatively short construction time.
Depending on the needs, you can create small and larger energy complexes. Small reactors can appear individually or in a group of several
modules that are put into operation successively, which makes the entire investment easier to finance. Thanks to the cooperation, the
ORLEN Group will gain access to technology and experience in the field of small modular reactors, and the Synthos Group will gain a
strong partner for the development of small nuclear power plants in Poland. In accordance with the provisions of the agreement, both
companies will jointly undertake, inter alia, research, checking the possibilities and application of SMR technology in production plants
belonging to the ORLEN Group in Poland.
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S-OIL (South Korea) joins hands with S/Ss to support neighbors in need
51
S-OIL donated 330 million Won to Korea National Council for Social Welfare for ‘S/S Sharing N Campaign’ aimed at
launching CSR activities with S/Ss. ‘S/S Sharing N Campaign’ is a community-based CSR program that shares warmth
with needy neighbors in welfare facilities close to S/Ss, which have good knowledge of communities around them. Around
300 S-OIL S/Ss and marketing employers jointly engage themselves to pass donation to local welfare facilities for children
the disabled and seniors in which they regularly clean up facilities, distribute food and join cultural activities together.
S-OIL CEO Al-Qahtani said since last year, COVID-19 is taking everyone to a road unknown but it shall pass. “It’s more
important to look after the needy neighbors in difficult times like this and share with others, which is one of the core values
of S-OIL” said CEO Al-Qahtani. S-OIL launched ‘S/S Sharing N Campaign’ with Ministry of Health & Welfare and
KNCSW in 2011 in order to implement community-based CSR programs with local S/Ss. The refiner donated a total of
3.8 billion Won over the past ten years matching 2830 S/Ss and welfare facilities across the nation.
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Miscellaneous Updates
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Galp (Portugal) is the first Portuguese company to join the World Economic
Forum's ESG metrics
52
Galp has formally joined the environmental, social and government (ESG) metrics of the World Economic Forum (WEF), thus
becoming the first Portuguese company to align with a business community focused on creating sustainable value and responding to
the most pressing challenges of modern societies. Aware of the urgency of adapting the planet's resources to the needs of citizens and
companies, the WEF has accelerated, in recent years, a series of debates and initiatives aimed at fostering the concept of “stakeholder
capitalism”. The main objective is to place the premises of sustainability at the centre of the actions and decisions of large
corporations, thus ensuring that options do not jeopardise the future of the next generations. By becoming a signatory to the metrics
of “stakeholder capitalism”, Galp joins a community of companies that promote an effort to provide the market with concise,
consistent, and comparable metrics and disclosures for the creation of value shared by all stakeholders. As early as 2021, Galp
reported its non-financial information in line with the WEF disclosure metrics and recommendations. ESG metrics stipulate a wide
range of data recommendations to be disclosed in areas as diverse as purpose, strategy, boards of directors’ composition,
environmental and social performance, among others, in order to allow comparing business and ESG performance.
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Petrobras (Brazil) wins energy auction
53
Petrobras participated in the A-4 and A-5 Existing Energy Auctions, becoming the winner with the sale of 162.5 MW average,
from the Cubatão Thermoelectric Plant (SP). At Auction A-4, 98.3 MWavg were sold at the price of R$151.15/MWh and, at
Auction A-5, 64.2 MWavg were sold at a price of R$172.39/MWh. This result guaranteed total fixed revenue of R$ 67.8
million/year until 2040, in addition to the variable revenue that will come from the dispatch of the thermoelectric plant during the
period of the contracts. These events were aimed at contracting energy generated by thermoelectric power plants powered by
national mineral coal and natural gas, either through existing assets or new projects, to meet the demands of distributors that serve
the final consumer. The sale of energy by Petrobras at auctions contributes to the company's strategy of optimizing the
thermoelectric portfolio with a focus on self-consumption and the sale of its own gas. Petrobras will continue to seek new
opportunities to sell energy from its generating complex in future auctions to be organized by the Ministry of Mines and Energy
– MME, in order to guarantee the profitable operation of the plants and continue to meet the country's energy demand.
Description

I-Byte Energy july 2021

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