I Bytes Energy Industry

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I-Bytes
Energy
January Edition 2021
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates.................................................................................................................................................15
3. Rewards and Recognition Updates...................................................................................................................19
4. Customer Success Updates................................................................................................................................22
5. Partnership Ecosystem Updates.......................................................................................................................27
6. Environmental & Social Updates.....................................................................................................................31
7. Miscellaneous Updates......................................................................................................................................33

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Financial, M & A
Updates Energy Industry

Financial, M&A Updates
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Ovintiv™ Provides Fourth Quarter and Full-Year 2020 Update
• Reduced total long-term debt, including current portion, by $257 million in
the fourth quarter. Ovintiv has been focused on debt reduction and has a plan to
reduce total debt by at least $1 billion from the second half of 2020 through
year-end 2021. As of year-end 2020, the Company is nearly halfway to achieving
its year-end 2021 target.
• Delivered strong well performance, driving fourth quarter oil and condensate
production of more than 210 thousand barrels per day (Mbbls/d), above guidance
of 200 Mbbls/d; Fourth quarter total production was more than 550 thousand
barrels of oil equivalent per day (MBOE/d).
• Recorded full-year 2020 production of more than 540 MBOE/d.
• Maintained disciplined capital investment program. Full-year 2020
investments are expected to be ~$1.75 billion, less than guidance of $1.8 billion;
Further capital efficiency gains achieved with fourth quarter average completed
well costs approximately 25% lower than full-year 2019 averages; new
pacesetter well costs attained in each of the three core plays.
Executive Commentary
Ovintiv CEO said, “We finished 2020 with one of our best quarters, achieving
outstanding financial and operating results that will likely be well ahead of
consensus. 2020 was an incredibly challenging year but showed our strengths
through a high-quality portfolio, industry-leading efficiencies and world class
risk management. For the third consecutive year, we delivered meaningful
free cash flow. We enter 2021 with high confidence in our ability to deliver on
our $1 billion-plus debt reduction target while efficiently maintaining our
scale.”
1
Key Financial Highlights

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EQT (USA) AB signs EUR 1 billion Revolving Credit Facility
EQTAB signed a five-year EUR 1 billion revolving credit facility supported by a syndicate of global financial institutions. The RCF
will increase the financial flexibility of EQT and be used for corporate purposes, supporting the EQT AB Group’s growth initiatives
and long-term strategy. The RCF will further incorporate a pricing mechanism linked to ESG-related objectives, lowering the
interest rates if targets are met, and increasing them if targets are not achieved. It will thus be in line with EQT's overall approach of
integrating sustainability throughout its activities, both on EQT AB Group level and within funds advised by EQT. As announced
earlier in 2020, EQT has launched ESG-linked bridge facilities both within the Private Capital and Infrastructure business lines,
totaling more than EUR 6 billion. The RCF was arranged by Nordea and SEB (the “Bookrunners”). It attracted a strong level of
interest during syndication and was significantly oversubscribed, displaying broad support for EQT’s strategy. In addition to the
Bookrunners, a total of 13 global financial institutions participated in the syndicate: Banco Santander, BNP Paribas, Crédit Agricole
Corporate and Investment Bank, Credit Suisse, Deutsche Bank, DNB, Goldman Sachs, ING Wholesale Banking, National
Westminster Bank and Swedbank joined as Mandated Lead Arrangers.
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EQT Infrastructure (USA) V launches offer to acquire all outstanding shares in Torghatten ASA
through HATI BidCo AS with recommendation of Board of Directors of Torghatten ASA
EQT Infrastructure V fund and Torghatten ASA announced that HATI BidCo AS will launch an offer to acquire all outstanding
shares in Torghatten through a voluntary cash offer Founded in 1878, Torghatten is the leading private passenger transportation
company in Norway with an annual revenue of approximately NOK 10 billion and about 7000 employees. The Company’s core
business is within sea, land and air transportation – distributed across ferries, express boats, buses and air traffic (excluded from
the transaction) throughout Norway. Torghatten provides essential services and its route network significantly shortens travel
time along the Norwegian coastline, making the Company a critical part of the country’s domestic transportation system. The
offer from the Offeror is at NOK 175 in cash per share in Torghatten, excluding the airline segment. Torghatten plans to
distribute the Company’s shares in WF Holding AS (66 %), which owns the airline company Widerøe, through shares in a
newly-established subsidiary ("Flyco") to Torghatten’s shareholders prior to or in connection with the execution of the Offer,
whereby the shareholders will receive one (1) share in Flyco for every share they own in Torghatten. Each share in Flyco is
valued at NOK 17 upon being distributed. The dividend will be distributed to shareholders in Torghatten registered in VPS per
22 December 2020, which means that it will not be possible to acquire new shares in Torghatten with rights to dividends. Based
upon this valuation, the Offer and distribution of shares in Flyco values each Torghatten share at NOK 192. The Board of
Directors of Torghatten has unanimously decided to recommend that Torghatten’s shareholders accept the Offer, and the
Offeror has entered into agreements on certain terms to acquire shares from Torghatten’s largest shareholders, which represent
approximately 53.62 percent of the total issued and outstanding shares of Torghatten. The share purchase agreements include
the same purchase price per share as those sold through the Offer and the completion of these agreements is notably contingent
upon the completion of the Offer. EQT Infrastructure has followed Torghatten closely for many years and is impressed with its
development over the last decade with respect to growth, profitability, and sustainability work. Subject to completion of the
Offer, EQT Infrastructure intends to support Torghatten’s continued value creation journey through both organic and inorganic
growth initiatives. Moreover, EQT Infrastructure is committed to support Torghatten’s ambitious sustainability agenda and the
intention to accelerate the transition to zero or low emission transportation infrastructure in line with government targets, based
on battery, biofuel, hybrid and other new technologies.
Chairman of Torghatten says: “Since we were first approached by EQT, we have had discussions with several interested
parties, but EQT’s offer stands out as the best alternative for both the owners and for Torghatten. The Board believes that
EQT will succeed in further developing the Company and its operations in a good way. EQT Infrastructure wishes to be
an active owner of Torghatten and will provide EQT’s resources, competency and network to ensure continued profitable
growth. EQT has also informed the owners that they do not intend to move Torghatten’s headquarters nor change the
company name. A unanimous Board recommends EQT Infrastructure’s offer.”
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Equinor (Norway) and its licence partners have decided to invest NOK 3 billion in the North
Sea Statfjord Øst field to improve recovery by 23 million barrels of oil equivalent
Equinor and its licence partners have decided to invest NOK 3 billion in the North Sea Statfjord Øst field
to improve recovery by 23 million barrels of oil equivalent. Written notification of material changes to the
Plan for Development and Operation Statfjord Øst was submitted to the Ministry of Petroleum and Energ,
Statfjord Øst is tied back to the Statfjord C platform by pipelines. A total of four new wells will be drilled
from existing subsea templates. The project also includes modifications on Statfjord C and a new pipeline
for gas lift. This decision enables an improvement of the recovery factor on Statfjord Øst and gives an
important contribution to extending the life of the Statfjord C platform and the Statfjord Øst field towards
2040. The original oil volume in place on Statfjord Øst was 415 million barrels of oil. The current recovery
factor is 56 percent. As a result of this project, the expected recovery factor is increased to 62 percent. Plans
call for installation of a pipeline for gas lift, modifications on Statfjord C and drilling of new wells in 2022
- 2024. Production start is scheduled for 2024. The Statfjord Øst development comprises subsea
installations that include three templates. The field is located five kilometres north-east of Statfjord C. The
field came on stream in 1994. The licence partners in Statfjord Øst Unit: Equinor Energy AS (31.6875%),
Petoro AS (30.0000%), Vår Energi AS (20.5500%), Spirit Energy Norway AS (11.5625%), Idemitsu
Petroleum Norge AS (4.8000%), Winter shall Dea Norge AS (1.4000%). After several extensions of the
Statfjord field life, the current goal is to maintain safe and profitable operation until 2040. Statfjord is part
of FLX, which was established to meet the strategic opportunities and challenges of late life fields in
relation to Equinor’s competitiveness. FLX aims to ensure that Equinor is the leading company in safe and
efficient operations with low carbon emissions from late life fields on the NCS.
“The decision to improve recovery on Statfjord Øst will add considerable value to society and owners
and will create positive effects for suppliers. Our ambition is to maintain safe and profitable production
and secure valuable activity from the Norwegian continental shelf (NCS) for several decades,” says
Equinor’s senior vice president for Field Life eXtension (FLX).
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PGNiG’s (Poland) new acquisitions of upstream assets in Norway formally approved
The Norwegian petroleum authority has issued formal approvals for PGNiG Upstream Norway to acquire interests in
licences covering the Kvitebjørn and Valemon fields in the North Sea. Having brought up the number of licences in
which the company holds interests to 32, the new acquisitions will contribute to a substantial increase in the PGNiG
Group’s gas production volume on the Norwegian Continental Shelf already in 2021. The interests in four licences
covering the producing fields Kvitebjørn and Valemon were acquired by PGNiG Upstream Norway, a wholly-owned
subsidiary of PGNiG SA, in September 2020 under an agreement with Norske Shell. Both newly acquired fields contain
predominantly natural gas. PGNiG Upstream Norway estimates that the acquisitions will bring about a step increase in
its average daily production of hydrocarbons (both oil and gas) of about 30%. The company’s gas production volume is
forecast to reach 0.9 bcm in 2021, compared with approximately 0.5 bcm in 2020. According to estimates, in 2023–2028
(i.e. after the launch of the Baltic Pipe, which will link the Norwegian Continental Shelf with Poland via Denmark), the
two fields will deliver approximately 0.2 bcm of gas annually to PGNiG Upstream Norway. As regards the Kvitebjørn
field, PGNiG Upstream Norway acquired a 6.45% interest, becoming a licence partner to Equinor (the operator), Petoro,
Spirit Energy Norway and Total E&P Norge. The remaining recoverable reserves of the field, put on production back in
2004, have been estimated at approximately 184.3 mmboe. In the case of the Valemon field, the interest acquired by
PGNiG Upstream Norway is 3.225%. Producing since 2015, the field still contains approximately 29 mmboe of
recoverable reserves. The licence is operated by Equinor, and the licence partners are PGNiG Upstream Norway and
Petoro. In addition, PGNiG Upstream Norway purchased a stake in the infrastructure used to transport hydrocarbons
produced from these fields. PGNiG Upstream Norway is already producing crude oil and natural gas from nine fields:
Skarv, Morvin, Vale, Vilje, Gina Krog, Skogul and Ærfugl, Kvitebjørn and Valemon, while development and assessment
work is under way on five more deposits: Duva, Tommeliten Alpha, King Lear, Ærfugl Outer and Shrek. The rapid pace
of acquisitions made on the Norwegian Continental Shelf over the past four years has increased the PGNiG Group’s oil
and gas reserves from approximately 80 to 208 mmboe.
“We are beginning 2021 on a high note. Thanks to our experience and capabilities, we have been able to develop
our operations on the Norwegian Continental Shelf despite the pandemic-related headwinds. As the approved
acquisitions involve already producing fields, they will immediately translate into a significant rise of our gas
output from Norwegian assets. We expect that in 2021 the volume of gas produced by PGNiG Upstream Norway
will reach 0.9 bcm, almost double the level recorded in 2020,” said President of the PGNiG Management Board.
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RN-Krasnodarneftegaz (Russia) Investments in Land Remediation to
Amount to 200 Million Roubles by 2025
RN-Krasnodarneftegaz, a subsidiary of Rosneft Oil Company, will quadruple the funding for its land remediation programme. The
enterprise plans to have allocated about 200 million roubles for land remediation activities by 2025. In 2020, the total area of land
remediated by the enterprise exceeded 100 hectares, a 51% increase on the previous year. Environmental protection is one of the
Company’s key priorities in the implementation of the Rosneft 2022 Strategy. RN-Krasnodarneftegaz is consistently running a
number of programmes designed to minimise the anthropogenic impact, including the programme to eliminate the so-called
historical legacy. To reduce environmental impacts, the enterprise uses mobile pavements in order to build temporary driveways and
pads in areas with difficult terrain. Mobile pavements have little unit pressure on the ground and virtually no impact on the topsoil.
The enterprise’s employees take part in environmental campaigns every year. These include litter picking and tree planting in the
areas of operations, as well as cleaning the areas adjacent to the administrative complexes in the fields. The enterprise is actively
implementing the Green Office principles to reduce resource consumption, save heat and electricity, and improve the quality of
working conditions and the environment.
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Southwest Oil & Gas Company produces over 6.7 billion cubic meters of
gas annually
The Southwest Oil and Gas Branch produced 6.714 billion cubic meters of natural gas, an increase of nearly 100 million cubic meters over the previous year. The newly added
third-tier natural gas reserves reached 143% of the annual plan, and the core business objectives and tasks such as profit were fully completed. Persist in high-quality exploration and
strive to expand exploration results. They focused on major breakthroughs in new areas and newly increased reserves of economies of scale, continuously strengthened basic research,
improved the quality of exploration deployment, increased risk exploration, deepened exploration evaluation in key areas, strengthened resource evaluation and mineral rights
protection, and consolidated the resource base for gas field construction. In 2020, 4 important breakthroughs were achieved in Weirong, Jingyan Permian and Ziyang Xujiahe
Formation. The deployed and implemented Yongye 9HF Well and other tests all obtained oil and gas discoveries, and 4 commercial discoveries including Xindianzi Longmaxi
Formation were obtained. Among them, The Leikoupo Formation in the western Sichuan gas field has added 83 billion cubic meters of proven reserves, and the cumulative proven
reserves have reached 114 billion cubic meters, which is equivalent to a large oil field with a billion-ton equivalent. Insist on benefit development, and make every effort to promote
stable production and increase production. Focusing on newly-added economically recoverable reserves, strengthen technical research on improving SEC reserves and recovery
efficiency, actively tackle key problems and evaluate difficult-to-use reserves, continue to promote the integrated operation of exploration and development, advance organization
and planning, pay close attention to fine management, and make every effort to ensure the western Sichuan continental facies The old areas such as the gas field and Yuanba gas field
have high and stable production, and we will make every effort to promote the production of new areas such as the Weirong shale gas field. In 2020, the Yuanba gas field will achieve
high and stable production for five consecutive years; the annual output of the western Sichuan continental gas field has stabilized at more than 2 billion cubic meters for 16
consecutive years; the newly built Heba gas field has an annual production capacity of 200 million cubic meters; the first phase of the Weirong shale gas field The production capacity
of 1 billion cubic meters has been completed, and the second-phase production capacity construction is accelerating.
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Suncor (Canada) to record impairment charge on White Rose assets
Suncor advised that it will record in the fourth quarter of 2020 a non-cash after-tax impairment charge of approximately $425
million on its share of the White Rose asset and West White Rose Project. While the asset is currently producing, the West
White Rose Project was intended to access 200 million barrels (gross) of crude oil and extend the life of the White Rose field
by approximately 14 years. However, the recent acquisition of the operator has cast significant doubt on the future of the
West White Rose Project. Discussions are ongoing with the operator and various levels of government to determine the
future of the project. The Government of Newfoundland and Labrador has agreed to provide some support for the West
White Rose Project in 2021. Suncor’s 2021 guidance remains unchanged as the White Rose field will remain on line
producing as expected and Suncor’s guidance did not include any major capital spend on the West White Rose Project in
2021. The White Rose asset joint venture owners are Cenovus (operator, 72.5%,) and Suncor (27.5%). The West White Rose
Project joint venture owners are Cenovus (operator, 69%), Suncor (26%) and Nalcor (5%).
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Devon Energy (USA) and WPX Energy Shareholders Approve Merger of Equals
Devon Energy Corporation and WPX Energy, Inc. announced the
shareholders of both companies voted in favor of all proposals necessary for
the closing of the previously announced all-stock merger of equals between
Devon and WPX. The merger is anticipated to close on January , At the special
meeting of Devon shareholders held, more than 70 percent of the shares of
Devon common stock were represented, and more than 99 percent of the votes
cast were in favor of the transaction. At the special meeting of WPX
shareholders held, more than 87 percent of the shares of WPX common stock
were represented, and more than 99 percent of the votes cast were in favor of
the transaction. Devon and WPX will each file the final vote results for their
respective special meetings on a Form 8-K with the U.S. Securities and
Exchange Commission , Under the terms of the merger agreement, WPX
shareholders will receive a fixed exchange ratio of 0.5165 shares of Devon
common stock for each share of WPX common stock owned.
“We are pleased with the strong support we received from both companies’
shareholders,” said Devon’s president and CEO. “This is an important
milestone as we move toward uniting our complementary assets to create a
leading U.S. energy company, with a focus on accelerating free cash flow
growth and the return of capital to shareholders.”
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EQT (USA) and Verdane announce intention to merge FocusVision and Confirmit
EQT and Verdane are pleased to announce the merger of their respective portfolio companies
Focus Vision, majority owned by EQT Mid Market US, and Confirmit. The combined
company will be led by Confirmit CEO and supported by members of both the FocusVision
and Confirmit management teams. FocusVision offers a comprehensive suite of experience
insights software solutions, including advanced survey, online interview and focus groups,
and online qualitative research community solutions to get brands close enough to their
customers to have a full understanding of Customer Truth™ – how they think, feel, and act.
Confirmit offers market research, customer experience and employee engagement software
solutions to turn insight into stories that fuel action. Confirmit delivers the flexibility and
power that customers need to understand and manage experiences, emotions, and behaviors
so they are always one step ahead. The merger will harness the scale and scope of two
complementary organizations and enable the combined business to provide better solutions
to its customers on a global basis. Together, EQT and Verdane will support investments in
best-of-breed technology solutions, ranging from data collection to reporting and action
capabilities, and accelerate innovation initiatives. Moreover, the two companies will
combine their digital infrastructure and technology capabilities, which will increase
efficiencies and deliver new opportunities to the benefit of both existing and new customers.
Chief Executive Officer, Confirmit, said: “At Confirmit, we imagine a future where
every action is initiated by the right decision at the right time. No data silos. No
unknowns. Just accurate, visual insights, in real time, helping to make businesses
smarter. This merger will make that a reality. We will create a world class organization
that brings real value to our clients and colleagues alike.”
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Transaction (Canada) to combine Husky and Cenovus closes
Husky Energy is pleased to announce the transaction to strategically combine with Cenovus Energy has closed. The transaction was completed through a definitive
arrangement agreement announced on October , 2020 under which Cenovus and Husky agreed to combine in an all-stock transaction. Pursuant to the transaction
agreement, Husky common shareholders received 0.7845 of a Cenovus common share and 0.0651 of a Cenovus common share purchase warrant in exchange for each
Husky common share. In addition, Husky preferred shareholders exchanged each Husky preferred share for one Cenovus preferred share with substantially identical
terms. Cenovus common shares remain listed on the Toronto Stock Exchange (TSX) and New York Stock Exchange under the ticker symbol CVE. The Cenovus
warrants have been listed on the Toronto and New York exchanges under the ticker symbols TSX: CVE.WT and NYSE: CVE WS. The Cenovus preferred shares Series
1, Series 2, Series 3, Series 5 and Series 7 have been listed on the TSX under the ticker symbols CVE.PR.A, CVE.PR.B, CVE.PR.C, CVE.PR.E and CVE.PR.G. The
Cenovus warrants and Cenovus preferred shares are expected to commence trading on the TSX at the opening of market on January, 2021 and the Cenovus warrants
are expected to begin trading on the NYSE at the opening of market on January 6, 2021. The Husky common shares and preferred shares are expected to be delisted by
the TSX at the close of market on January. The combination creates Canada’s third-largest crude oil and natural gas producer, based on total company production, with
about 750,000 barrels of oil equivalent per day of low cost oil and natural gas production. Cenovus is also now the second-largest Canadian-based refiner and upgrader,
with total North American upgrading and refining capacity of approximately 660,000 barrels per day (bbls/day). In addition, the company has access to about 265,000
bbls/day of current takeaway capacity from Alberta on existing major pipelines, 305,000 bbls/day of committed capacity on planned pipelines and 16 million barrels of
crude oil storage capacity as well as strategic crude-by-rail assets that provide takeaway optionality.
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Eni (Italy) expands its presence in UAE with the award of a majority stake and operatorship
in Offshore Block 3, one of Abu Dhabi’s largest offshore exploration concessions
Eni signed a Concession Agreement for the acquisition of a 70% stake in the Exploration Offshore Block 3,
leading a consortium including a wholly owned subsidiary of Thailand’s PTT Exploration and Production
Public Company Limited with the remaining 30% stake. Offshore Block 3, located in the north-west
offshore of the Abu Dhabi Emirate, is the largest area to be awarded among those blocks that were offered
for commercial bidding by ADNOC in May 2019 as part of Abu Dhabi’s second competitive block
licensing round. Under the terms of the agreements, Eni will operate the concession to explore for oil and
gas and appraise the existing discoveries in the block, which covers an area of approximately 11,660 square
kilometers. The exploration phase of the agreement has a maximum period of up to 9 years and, subject to
successful exploration, an overall concession term will extend to 35 years from commencement of the
exploration phase for development and production phases in which ADNOC has the option to hold a 60%
stake. New state of the art 3D seismic data has already been acquired for a part of the block, which is in
close proximity to existing large oil and gas producing and under development fields, in part participated
by Eni, and that is estimated to have a promising potential. The near-field nature of the exploration targets
will allow to exploit the synergies with the nearby existing infrastructure. Eni has been present in Abu
Dhabi since 2018 with a 10% stake in the Umm Shaif and Nasr Offshore concession plus a 5% stake in the
Lower Zakum concession as well as 25% stake in Ghasha concession that is approaching final FID. Current
equity production is around 50,000 bbl/day, in line with the current quotas agreed by OPEC+ members. In
2019 Eni was awarded in the first Abu Dhabi competitive bid round two offshore exploration concessions,
Offshore Blocks 1 and 2. Eni is also a shareholder with a 20% equity interest in ADNOC Refining. Eni in
the UAE is also present in the Emirate of Sharjah and Ras Al Khaimah.
Eni CEO, said: “This award follows the one achieved by the same consortium in 2019 for offshore
exploration Blocks 1 and 2 and represents a further important step towards the realisation of Eni’s
strategy to become a leading actor in the development and production in Abu Dhabi, a leading region
for the oil and gas industry, while contributing through its expertise in exploration to add further
resources and exploit all potential synergies with the surrounding fields. It also further strengthens our
relationship with our valuable partner PTTEP. Offshore Block 3 represents a challenging opportunity
that can unlock significant value thanks to exploration and appraisal of shallow and deep reservoirs”.
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The ORLEN(POLAND) Group and PGNiG will build a gas-fired power plant in
Ostrołęka
The ORLEN Group has acquired a partner for the investment in the gas and steam unit in Ostrołęka, which will be
PGNiG. The signed tripartite agreement guarantees PKN ORLEN and Energa a leading position in the project, with a
total stake of 51%. PGNiG will take up 49 percent. shares. At the same time, PKN ORLEN and PGNiG concluded an
annex to the 2016 agreement, which guarantees stable gas supplies until the end of 2027 for the ORLEN Group's
production installations in Poland, including the power plant in Ostrołęka. Acquiring a partner to build a gas power plant
in Ostrołęka is another step bringing us closer to starting this important investment. It is in line with the assumptions of
PKN ORLEN's new strategy until 2030 related to low-emission and securing the power system based on renewable
energy sources. Thanks to acquiring PGNiG as a partner for the project in Ostrołęka, which has a strong position on the
natural gas market, we are entering the next stage of the investment, getting closer to its effective implementation. At the
same time, we ensured the security of gas supplies, which are essential for the smooth operation of our production
installations. This, in turn, translates directly into the guarantee of Poland's energy security, The cooperation of PKN
ORLEN with PGNiG brings a positive impulse to the transformation of the Polish energy sector based on a
low-emission transition fuel, which is natural gas - emphasizes Paweł Majewski, President of the Management Board of
PGNiG SA . - For PGNiG it is a reliable and long-term recipient of large volumes of gas, the use of which in Ostrołęka,
instead of coal, will minimize the release of harmful dust into the air and significantly reduce greenhouse gas emissions
, As part of the construction of the power plant in Ostrołęka in gas technology, a new company will be established, which
will be responsible for the investment. PKN ORLEN and Energa will jointly have a majority share of 51%, the
remaining 49%. will be acquired by PGNiG. The scope of works provides for the construction of a power unit with gas
fueling technology and the necessary infrastructure for its operation. An important element of the agreement is PGNiG's
readiness to supply natural gas for the purposes of the Ostrołęka power plant by the end of 2027, which will enable it to
operate efficiently.
“The cooperation of PKN ORLEN with PGNiG brings a positive impulse to the transformation of the Polish
energy sector based on a low-emission transition fuel, which is natural gas - emphasizes President of the
Management Board of PGNiG SA .For PGNiG, it is a reliable and long-term recipient of large volumes of gas, the
use of which in Ostrołęka, instead of coal, will minimize the release of harmful dust into the air and significantly
reduce greenhouse gas emissions.”
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TechnipFMC (UK) Announces Resumption of Activities Toward Separation into
Two Industry-Leading, Independent, Publicly Traded Companies
TechnipFMC plc announced the resumption of activities toward its planned
separation into two industry-leading, independent, publicly traded companies:
TechnipFMC, a fully integrated technology and services provider; and Technip
Energies, a leading engineering and technology player. The separation would
enhance TechnipFMC’s and Technip Energies’ focus on their respective strategies
and provide both improved flexibility and growth opportunities, with each company
uniquely positioned to capitalize on the energy transition. The transaction is expected
to be structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies
segment. The separation is expected to be completed in the first quarter of 2021,
subject to customary conditions and regulatory approvals.
The two companies would have:
• Distinct and expanding market opportunities and specific customer bases
• Enhanced focus of management, resources and capital
• Robust backlogs supporting future revenue
• Compelling and distinct investment profiles
Chairman and CEO of TechnipFMC, stated, “We are very excited to announce
the resumption of activities related to the separation and the creation of two
industry-leading diversified pure-play companies poised to capitalize on the
energy transition. The increased clarity we now have in the market outlook
coupled with our demonstrated ability to successfully execute projects in this
most challenging period give us confidence to move forward with the separation.
We continue to believe this action would allow both businesses to thrive
independently within their sectors, enabling each to unlock significant
shareholder value.”
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Eni (Italy) new oil discovery and new production in the Western Desert of
Egypt
15
Solution Description
New oil resources discovered in the Western Desert of Egypt with a new exploration well in Meleiha Concession. The new discovery adds 10,000 barrels of
oil per day to the current Concession production. San Donato Milanese Eni announces a new oil discovery, in Meleiha Concession, in the Western Desert of
Egypt. The discovery was achieved through the Arcadia 9 well, drilled on the Arcadia South structure, which is located 1.5 km south of the main Arcadia
field already in production. The well encountered 85 feet of oil column in the Cretaceous sandstones of the Alam El Bueib 3G formation. The well has been
drilled close to existing production facilities and is already tied-in to production, with a stabilized rate of 5,500 barrels of oil per day. Following the discovery,
two development wells, Arcadia 10 and Arcadia 11, have been drilled back to back. The first one encountered 25 feet of oil column and the second one 80
feet, within the Alam El Bueib 3G formation. The three wells share the same oil-water contact in the discovered reservoir. Arcadia 11 also encountered 20
feet of oil pay in the overlying Alam El Bueib 3D formation. The new discovery adds 10,000 barrels of oil per day to Eni's gross production in the Western
Desert of Egypt. Eni's successful implementation of its infrastructure-led exploration strategy in the Western Desert through AGIBA, a joint venture between
Eni and Egyptian General Petroleum Corporation (EGPC), allows a quick valorization of these new resources. Eni, through its subsidiary Ieoc, holds a 38%
interest in the Meleiha concession while Lukoil holds a 12% and EGPC a 50% interest. Eni has been present in Egypt since 1954 where it is the country's
main producer. Eni's current equity hydrocarbon production is around 320,000 barrels of oil equivalent per day.

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Steel Minister India launches Missed Call Facility for LPG consumers- a
major step towards Government’s efforts to boost ease of living
16
Petroleum and Natural Gas & Steel Minister in an event in Bhubaneswar, launched Missed Call Facility for LPG consumers, a major step towards
government's efforts to boost ease of living. IndianOil LPG customers can use single missed call number 8454955555 for refill booking- for all
India and for new connection- for Bhubaneshwar City. He also rolled out the second phase of world class premium grade petrol (Octane 100),
branded as XP100 by Indian Oil. In this second phase, Indian Oil's branded XP100 was rolled out in seven more cities including Chennai,
Bangalore, Hyderabad, Kolkata, Kochi, Indore and Bhubaneswar. The Minister had launched XP100 and rolled out the first phase a month ago on
December, at select outlets in 10 Indian cities. On this occasion, Shri Pradhan also flagged-off the dispatch of first load of XP100 from the country's
oldest operating refinery at Digboi. This advanced petrol produced from Digboi Refinery will cater to the needs of retail outlets in cities located in
country's North-East region. Minister Pradhan talked about the power of technology in making the life of common man easy. He lauded the
distribution efforts of the OMCs, especially the Delivery boys- the 'Corona warriors', who showed guts and sincerity to supply the LPG at the
doorsteps of the people without any interruption, even in the time of pandemic.They said that when the whole world, irrespective of its resources
or prosperity, suffered due to Corona, India fought back under the leadership of Prime Minister Shri Narendra Modi, who mobilized the whole
country, and presented a new model for the world.

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IndianOil teams up with SBI to launch a power-packed co-branded
RuPay debit card
17
Raising the bar with newer offerings for the customers in the New Year, India's largest fuel retailer, IndianOil, has now teamed up with State Bank of India (SBI) India's largest
bank, to launch the IndianOil - SBI co-branded RuPay Debit Card. The IndianOil - SBI co-branded RuPay Debit Card was launched by, Chairman, IndianOil; and, Chairman,
SBI, in a virtual ceremony held Raising the bar with newer offerings for the customers in the New Year, India's largest fuel retailer, IndianOil, has now teamed up with State
Bank of India (SBI) India's largest bank, to launch the IndianOil - SBI co-branded RuPay Debit Card. The IndianOil - SBI co-branded RuPay Debit Card was launched by Mr.
Shrikant Madhav Vaidya, Chairman, IndianOil; and Mr. Dinesh Kumar Khara, Chairman, SBI, in a virtual ceremony held .
The features of the card are:
• 6X Reward Points for every Rs. 200/- spent at IndianOil fuel stations
• Fuel benefits - Cardholder earns loyalty points worth 0.75% against purchase of fuel at IndianOil fuel stations
• Pay with a tap (contactless card) for a single transaction of up to Rs. 5000/-
• Earn Reward Points on spends on dining, movies, grocery, and utility bills
• Redeem Reward Points for dining, movies, grocery and paying utility bills
• No monthly limit for purchasing fuel
• SBI-IndianOil Co-branded RuPay Debit Card can be issued anywhere in India
• Apply for card by visiting SBI's home branch

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Lukoil (Russia) Develops Its Own Completion System For Horizontal
Wells
18
LUKOIL has become the first company in Russia to successfully develop and implement own completion system for horizontal wells. The high technological
reliability of the new import substituting equipment will make it possible for the Company to start the commercial production of reserves which till recently
was hindered due to lack of suitable Russian-made technology. This is the only made in Russia completion system for horizontal wells that is commercially
used nowadays. It was developed by a LUKOIL subsidiary (RITEK company) and its contractor SP MeKaMinneft, and manufactured on its factory. The
technology was tested in 2019-2020 on LUKOIL's fields in the Khanty-Mansi Autonomous Area - Yugra. More than 50 horizontal wells were drilled on the
Vinogradov field with horizontal sections of 1600 meters and eight wells on the Sredne-Nazymskoye field with horizontal sections of 1500-1700 meters and
multi-stage hydrofracturing in 15-17 zones. Owed to high controllability of equipment, time of well completion operations involving multistage
hydrofracturing has been reduced by more than twofold. major elements of the horizontal well completion system, a frac sleeve for multistage fracturing and
a hydro-mechanical shifting tool which is used to activate the frac sleeve, were patented in the Russian Federation. The import substituting equipment will
also be used at other production facilities operated by subsidiaries of LUKOIL as well as by other oil and gas companies in Russia making it possible for
them to no longer purchase expensive analogues from foreign suppliers. This will provide for the technological development of the industry and
economically viable production of hard-to-recover reserves. Creation of the new system will also provide future orders for Russian producers of oilfield
service eqiupment.

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My (CHINA) country's new green technology of caprolactam has made a
major breakthrough
19
The Sinopec News Office that Baling Petrochemical’s "Caprolactam Green Production Complete New Technology Project" won the China Industry Award. The
technology successfully broke the foreign monopoly on caprolactam production technology, developed a new set of green technologies with independent
intellectual property rights, reaching the international leading level, and the domestic caprolactam self-sufficiency rate rose to 94%, promoting my country to
become the world's largest caprolactam producer. Caprolactam is an important organic chemical raw material, widely used in engineering plastics, high-end
spinning, clothing fabrics, auto parts, food-grade packaging films and other fields, and it occupies an important position in the development of the national
economy. Thirty years ago, my country's caprolactam was almost entirely dependent on imports, and its production technology became a bottleneck technology
that needed to be overcome. Facing major national needs, with the strong support of the Ministry of Science and Technology, Baling Petrochemical and
Petrochemical Research Institute and other industry-university-research institutes cooperated closely, continued independent innovation, and successfully
developed a complete set of green technologies with independent intellectual property rights. The six core technologies have reached the international leading
level, and four of them have been industrially applied. The capacity of the caprolactam plant built by my country using this new technology has reached 4 million
tons. The caprolactam green package technology has significant green economic and social benefits. The emission of pollutants per unit product is reduced by 50%,
and the unit production cost is reduced by 50%, effectively driving the rapid development of my country's caprolactam and its downstream industries. Currently,
Baling Petrochemical is the largest caprolactam production base in my country.
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Sinopec won the Golden Quality and Anti-epidemic Contribution Award
20
Sinopec won the Golden Quality•Anti-epidemic Contribution Award at the 2020 High-Quality Development Forum
and Golden Quality Award Ceremony of Listed Companies. The award aims to recognize listed companies that have
made outstanding contributions in the fight against the new crown pneumonia epidemic. This award fully demonstrates
that Sinopec actively participates in epidemic prevention and control, donates money and materials, fully guarantees
the production and supply of epidemic prevention and control materials, and drives the industrial chain to resume work
and production, and has been highly recognized and affirmed by the capital market.
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Products of TATNEFT (Russia) were awarded with the awards "100 best
goods of Russia"
21
Products of the TANECO plant, the Tire Business, the Tatneftegazpererabotka Administration and the STC Automation,
Measurements, Engineering became laureates and diploma winners of the competition. The competition "100 best goods of Russia"
has been held since 1997 and evaluates the quality of products of domestic manufacturers. Products of the TATNEFT Group
enterprises are traditionally among its laureates. In 2020, the summer tire Viatti Bosco H / T 225 / 65R17, produced by PJSC
Nizhnekamskshina, a tire of size 390 / 95R20 of the KAMA-URAL model, produced by LLC Nizhnekamsk Truck Tire Plant,
premium fuel TANECO-98 are recognized as laureates of the 2020 competition. and TANECO-100, a box for the transportation of
coronavirus patients produced by the STC Automation, Measurements, Engineering, as well as the highest grade isobutane fraction
produced by the Tatneftegazpererabotka Administration. Another development of the STC "A2I" - the device for calibration of the
A2I-PPK - received the status of a diploma winner. The Viatti Bosco lightweight tire is designed for crossovers and SUVs. The tires
have increased acoustic comfort, excellent directional stability when driving in a straight line and controllability during maneuvers.
The quick drainage of water from the road contact area ensures comfortable and safe driving in heavy rainfall or off-season slush.
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Shah Deni (UK) begins gas deliveries to Europe
22
The Shah Deni consortium announced commencement of commercial gas deliveries to Europe from the Shah Deniz gas field in the Caspian Sea offshore
Azerbaijan via the newly-completed Southern Gas Corridor pipeline system. The start of gas deliveries through the final section of the SGC – the Trans
Adriatic Pipeline – marks the full integration of the entire SGC gas value chain, stretching 3,500 kilometres from Azerbaijan to Europe. Deliveries through
this final stage of the system follow safe and reliable gas deliveries to regional markets from the Shah Deniz field via the first two sections of SGC – the
South Caucasus Pipeline expansion (SCPx) and Trans-Anatolian Pipeline (TANAP) – that started mid-2018. The Shah Deniz field is the starting point of
SGC, which has been built to deliver Caspian energy resources directly to European markets for the first time. The field is expected to supply 16 billion cubic
meters of gas to markets in the region and Europe via SGC. Rovnag Abdullayev, President of SOCAR, said: "On this historic day, we express our deep
gratitude to the partner companies, specialists and all our colleagues, who participated in TAP, Shah Deniz 2 and the Southern Gas Corridor projects,
contributing to the first delivery of Azerbaijani gas to the European market. We thank all financial institutions that supported this project and the residents of
the communities where our pipelines pass. As a shareholder in all Southern Gas Corridor segments, SOCAR is proud of the successful completion of this
historic mission. On behalf of Azerbaijani oil workers, I congratulate both the people of the European Union and the people of Azerbaijan. We express our
utmost gratitude and extend our congratulations to Mr. Ilham Aliyev, the President of the Republic of Azerbaijan, the author and the leader of this initiative.
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Gazprom (Russia) begins gas supplies to Serbia via new route starting
from January 1, 2021
23
Gazprom began supplying gas to Serbia, as well as to Bosnia and Herzegovina, via a new route across Turkey and
Bulgaria. Gas from Russia is transmitted by the TurkStream offshore gas pipeline and further across Turkey. It is then
brought via Bulgaria's national gas transmission system to Serbia, where it is distributed among consumers in Serbia
and in Bosnia and Herzegovina. Deliveries along this route were made possible through the expansion of existing gas
transmission capacities and commissioning of new ones by Bulgartransgaz EAD in Bulgaria and GASTRANS d.o.o.
Novi Sad in Serbia. TurkStream is a state-of-the-art, efficient and reliable gas pipeline that is in high demand by
European consumers. The number of European countries receiving Russian gas via TurkStream has grown to six.
Along with Bulgaria, Greece, North Macedonia and Romania, this opportunity is now available in Serbia and in Bosnia
and Herzegovina.
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Saipem (Italy) to build an Ammonia plant for Haifa Group in Israel
24
San Donato Milanese ,Haifa Group and Saipem have signed a contract worth over 200 million USD for the building of a long-awaited ammonia plant
at Mishor Rotem site. Following an intensive and professional tender lasting two years, Saipem was selected among four candidates for the project after
examining all the proposed solutions, technologies, and the bidder’s track record. Saipem is a global solution provider in energy and infrastructure field
and has built many similar plants worldwide utilizing Haldor Topsoe proprietary technology meeting the highest standards in the industry in terms of
reliability, efficiency, safety, and environmental protection. The facility is expected to be built with an investment exceeding 200 million USD to
produce around 100,000 tons of ammonia per year, and its construction will take around three years. Saipem scope of work entails engineering,
procurement, construction and commissioning for the entire production facility. The plant will provide a steady, safe and continuous supply of
ammonia, which is used as a vital material for the production of potassium nitrate fertilizer, Haifa Group's flagship product. The company expects to
use most of the facility's production capacity, when the rest will be offered to customers in Israel for the wide range of uses for ammonia. The
construction of the plant is another stage in the implementation of Haifa Group's expansion and investment plan to double the production capacity of
the “Haifa Negev” plant at Mishor Rotem and following a decision of the Israeli Government. This move is expected to create hundreds of new jobs in
the Negev and significantly expand the employment market in the region.
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Saipem (Italy) new contract awarded in joint venture with Clough for a
Urea Plant in Australia
25
Saipem, leading an equally shared joint venture with Clough, has reached the EPC agreement with Perdaman Chemical and Fertilizers Pty Ltd for the development
of the Burrup Urea Project. It consists of a Urea Fertilizer plant to be installed in the Burrup Industrial Area, approximately 20 km North-West of Karratha, on the
coastline of Western Australia. The agreement follows the Heads of Agreement signed in July 2020. The contract is subject to a Full Notice to Proceed to be issued
by Perdaman Industries. The overall contract value is for around 2.4 billion USD and Saipem share amounts to around 1.2 billion USD. The scope of work includes
engineering, supply of equipment and materials, construction, pre-commissioning and commissioning for the execution of a urea fertilizer plant with a capacity of
2.14 million tonnes of urea per annum including a water treatment plant, a power plant (more than 100MW), as well as urea storage, loading and unloading
facilities. The Saipem-Clough Joint Venture will collaborate with Haldor Topsoe, a leading technology provider using its cutting edge SynCOR™ technology to
build the world’s largest single-line ammonia plant, while Saipem proprietary Snamprogetti Urea technology will be used for the urea production. This technology
combination ensures state of the art ammonia and urea production with low carbon emission and high energy efficiency. Saipem is a leading company in
engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions
(Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Saipem is a global solution provider with
distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. Listed on the Milan Stock
Exchange, it is present in over 60 countries worldwide and has 31 thousand employees of 130 different nationalities.
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Mazeikiu (POLAND) with a new railway connection with Ukraine
26
ORLEN Lietuva, the Lithuanian ORLEN Group company, has gained a new railway connection with Ukraine. The route through Poland is an
alternative to the current route through Belarus. The first transport of petroleum products from the Mazeikiu refinery has already reached recipients
in Ukraine via a new route. In February this year, the reconstructed railway connection from Mazeikiai to Renge in Latvia was also opened. It was
dismantled in 2008. It is a nearly 20-kilometer section that enables the delivery of products from ORLEN Lietuva to the Latvian and Estonian
markets. In recent years, their transport has been over 150 km longer, more difficult and logistically more expensive. The Mazeikiu plant, owned
by ORLEN Lietuva, is the only refinery in the Baltic States. The company remains a significant part of the Group, ensuring supplies of petroleum
products to the markets of Lithuania, Latvia, Estonia, Ukraine and Poland. It is also one of the pillars of the ORLEN Capital Group, generating
profits and significantly strengthening the energy security of the entire region. Over the last four years, the Lithuanian company PKN ORLEN has
generated a net profit of approx. PLN 2.3 billion. Mazeikiu also plays a significant role in the Lithuanian economy. It is the largest company in the
country, employing approx. 1.5 thousand. employees, of which over 90% are residents of Mazeikiu and the surrounding towns. It is also the largest
exporter and taxpayer in Lithuania, responsible for 15% of revenues to the national budget.
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Gazprom (Russia) and Roscommon expanding cooperation in creating and
using satellite systems
27
A meeting was held under the leadership of Deputy Chairman of the Gazprom Management Committee, and First Deputy Director General of the
Roscosmos State Space Corporation. The parties discussed the ongoing construction of a spacecraft assembly facility in the Moscow Region by
Gazprom, as well as the acquisition by Roscosmos of a stake in the authorized capital of the project operator Gazprom SPKA. The capacities of
SPKA will manufacture civil spacecraft, including Yamal communication satellites and SMOTR optical satellites for remote sensing of the Earth,
for Gazprom and other customers. In addition, there is an option for assembling and testing batch-produced small spacecraft within the Sphere
(Sfera) forward-looking program that is being implemented by Roscosmos. In the course of the meeting, Dmitry Sevastiyanov, Director General
of Gazprom Space Systems, and Yury Urlichich signed a cooperation agreement. The document reflects, among other things, the interest of
Roscosmos in creating spacecraft using the capacities of SPKA. The corporation is also ready to use remote sensing data obtained by the
SMOTR-B satellite. The satellite, which is planned to be launched in 2024, will be provided with, inter alia, equipment for greenhouse gas
emissions monitoring. The Company will make up to 30 per cent of the spacecraft's output available to Roscosmos. The parties will also look into
the possibility of using a receiving station network of the Unified Information System for Remote Sensing of the Earth (created by Roscosmos) to
receive data from Gazprom's spacecraft.
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TATNEFT (Russia) strengthens cooperation with Kazakhstan
28
The Company and the Government of the Republic of Kazakhstan signed an Agreement on the principles of participation in the development
of the mechanical engineering industry of the Republic of Kazakhstan. The agreement contains measures of state support for the project to
create a modern high-tech production of automobile tires in the Republic of Kazakhstan, including co-financing of the project, the provision
of tax preferences, the implementation of a set of measures to protect the tire products market in the Republic of Kazakhstan and support the
domestic manufacturer, as well as a number of measures to protect the rights and interests " Tatneft "as a foreign investor. In the course of the
implementation of the joint project of Tatneft and Allur, the construction of the only plant in Kazakhstan for the production of passenger car,
light truck and truck tires with a capacity of 3 million passenger and light truck tires and 500 thousand SSC truck tires per year has begun. The
launch of production in 2022 will create more than a thousand jobs, taking into account related industries. The document was signed in
development of the Agreement of Intent on the implementation of a project for the production of automobile tires in the Republic of
Kazakhstan, previously concluded between PJSC TATNEFT and JSC Allur Group of Companies, as well as an investment agreement between
Tatneft, Allur Group of Companies and Akimat Karaganda region of the Republic of Kazakhstan.
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Ecopetrol (Colombia) and Minciencias join forces to develop technologies for
the energy transition
29
Ecopetrol presented the terms of an alliance that it agreed with the Ministry of Science, Technology and Innovation (Minciencias) that seeks the construction of a productive,
sustainable and equitable Colombia through the strengthening of the scientific and technological ecosystem for the protection and use of water, energy and biodiversity. The
work fronts were prioritized by Ecopetrol in line with the recommendations of the International Mission of Wise Men, an initiative of the National Government led by the Vice
President of the Republic, Marta Lucía Ramírez and executed by Minciencias in collaboration with the National System of Science, Technology and Innovation. Among its
objectives, the alliance includes the construction of research, technological development and innovation capacities for the energy transition, with a focus on the production and
use of hydrogen as a clean fuel of the future, as well as the capture of carbon dioxide and its conversion to valuable products.
The alliance includes the following scope:
• The closing of gaps identified in capacities for technology transfer.
• Strengthening the capacities of technology recipient companies.
• Financial leverage for technology transfer processes.
• The infrastructure for scaling up convergent technology manufacturing processes.
• Socio-economic development based on technology, in regions of influence of Ecopetrol.
• The construction of technological capacities for the energy transition.
• The promotion of technological convergence.
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Consortium (Denmark) receives funding to investigate offshore hydrogen
production
30
ITM Power, Ørsted, Siemens Gamesa Renewable Energy, and Element Energy have been awarded EUR 5 million in funding from The Fuel Cells and Hydrogen Joint Undertaking
under the European Commission to demonstrate and investigate a combined wind turbine and electrolyser system designed for operation in marine environments. The Fuel Cells and
Hydrogen 2 Joint Undertaking , a public private partnership of the European Commission, has awarded the consortium behind the OYSTER project, consisting of ITM Power, Ørsted,
Siemens Gamesa Renewable Energy, and Element Energy EUR 5 million to investigate the feasibility and potential of combining an offshore wind turbine directly with an electrolyser
and transporting renewable hydrogen to shore. The consortium will develop and test a megawatt-scale fully marinised electrolyser in a shoreside pilot trial. The project will be
coordinated by Element Energy. To realise the potential of offshore hydrogen production, there is a need for compact electrolysis systems that can withstand harsh offshore
environments and have minimal maintenance requirements while still meeting cost and performance targets that will allow production of low-cost hydrogen. The project will provide
a major advance towards this aim. The electrolyser system will be designed to be compact, to allow it to be integrated with a single offshore wind turbine, and to follow the turbine's
production profile. Furthermore, the electrolyser system will integrate desalination and water treatment processes, making it possible to use seawater as a feedstock for the electrolysis
process.The OYSTER project partners share a vision of hydrogen being produced from offshore wind at a cost that is competitive with natural gas (with a realistic carbon tax), thus
unlocking bulk markets for green hydrogen making a meaningful impact on CO2 emissions, and facilitating the transition to a fully renewable energy system in Europe.This project is
a key first step on the path to developing a commercial offshore hydrogen production industry and will demonstrate innovative solutions with significant potential in Europe and
beyond. The project is planned to start in 2021 and run to the end of 2024. ITM Power is responsible for the development of the electrolyser system and the electrolyser trials, while
Ørsted will lead the offshore deployment analysis, the feasibility study of future physical offshore electrolyser deployments, and support ITM Power in the design of the electrolyser
system for marinisation and testing. Siemens Gamesa Renewable Energy and Element Energy are providing technical and project expertise.
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Ecopetrol(Colombia) Group will deliver 100 homes to the Colombian
Caribbean Region
31
The Ecopetrol Group, under the leadership of its subsidiary Esenttia, announces the delivery of 100 houses in the departments of Bolívar,
La Guajira and the Archipielago of San Andrés, providencia and Santa Catalina department of San Andrés, to benefit those affected by
the winter wave and by the passage of Hurricane Iota. This project is in addition to the resources contributed by the Ecopetrol Group in
Cartagena and La Guajira to face the winter emergency, which together exceed $ 3,300 million pesos. In addition to the great social
impact, the project has environmental benefits by allowing the use of plastic waste, since in the construction of the houses the reuse of
about 500 thousand kilograms of recycled plastic is calculated . The initiative will be developed in coordination with the National
Government, through the Ministry of Housing, City and Territory ; and in coordination with the local authorities, who will define the
geographic priorities, quantities by zones, authorizations, availability of access to public services, characteristics of the houses, among
other aspects required for the viability of the project. The Ecopetrol group presented the preliminary designs, which are being reviewed
by the National Government and the interested communities. Once this step is completed and the locations are confirmed, the
construction of the houses will proceed.
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TATNEFT (Russia) enterprises were the first in Tatarstan to receive integrated
environmental permits
32
JSC "TANECO" and NGDU "Aznakaevskneft" at the end of 2020 were the first enterprises in Tatarstan to receive a new
environmental document - the Integrated Environmental Permit (IEP). An integrated environmental permit contains the entire
list of necessary and mandatory environmental protection requirements for a particular enterprise. For the state, this document
is a guarantee that the company will comply with all established environmental protection standards. Legal entities and
individual entrepreneurs carrying out economic and other activities at facilities of category I are obliged to receive IEP. In
Russia, the IEP is issued from January 1, 2019 - by the territorial departments of Rosprirodnadzor, for two years throughout
Russia they were issued 22. In the republic, the first organizations to receive these documents were JSC TANECO and NGDU
Aznakaevskneft. A number of applications for IEP from the enterprises of the TATNEFT Group are currently under
consideration. Obtaining the IEP is another confirmation of the high environmental responsibility of TATNEFT, the desire to
decarbonize production, reduce greenhouse gas emissions, and reduce the carbon footprint.
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Galp (Portugal) to concentrate refining operations in Sines
33
The structural changes in oil products demand patterns, driven by the regulatory context in Europe and the effects caused by the COVID-19
pandemic, have led to a significant impact on Galp’s downstream industrial activities. After thoroughly assessing the alternatives, Galp will
be concentrating its core refining activities and future developments in Sines, while discontinuing the refining operations in Matosinhos, from
2021. While managing appropriate solutions for the necessary labour reduction, Galp will continue to supply the regional market by
maintaining all key Matosinhos’ import, storage and distribution facilities. Galp will also be assessing alternative uses for the site. Security of
fuel distribution supply in the country will not be impacted by this decision. The system reconfiguration should reduce average annual fixed
costs and recurrent capex by over €90 m per year and contribute to an annual reduction of c.900 kton of CO2e emissions (scope 1 and 2). The
book value of the Matosinhos’ assets to be decommissioned are estimated at c.€200 m. The Company will focus on enhancing the resilience
and competitiveness of the Sines industrial site, with a crude processing capacity of 220 kbpd and equipped with deep conversion units.
Solutions are being analysed to improve Sines’ energy and process efficiency, and to integrate the production of advanced biofuels and other
cleaner and more valuable products, with potential investments supported by the restructuring savings and energy transition support
mechanisms.
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Thirty (Russia) Five Million Tonnes Of Oil Produced At Lukoil’s North
Caspian Fields
34
LUKOIL's cumulative production of oil has exceeded 35 million tonnes at its Yury Korchagin and Vladimir Filanovsky fields
in the North Caspian Sea. LUKOIL carried on with these projects in 2020. In particular, new production wells were drilled,
as well as side-track wells to intensify influx of hydrocarbons. In 2020, LUKOIL produced over 7 million tonnes at two
aforementioned fields. Moreover, LUKOIL started constructing infrastructure facilities at its third major Caspian project,
Valery Grayfer field. Estimated plateau level for the field is over a million tonnes of oil per year. In April, LUKOIL installed
jackets for the accommodation block, and in August – for the fixed ice-resistant platform. Shipyards in Astrakhan are
constructing topsides of both platforms. LUKOIL will continue construction of facilities at Valery Grayfer field in 2021.
Exploration and production drilling will take place at its other offshore fields. This summer, LUKOIL drilled an exploration
well at the Severo-Rakushechnaya prospective structure set north of Valery Grayfer field. The company also keeps up
exploration works at Khazri and Titonskaya structures set in the Central Caspian.
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Liberty (USA) and Schlumberger Close North American Pressure Pumping
Transaction
35
Liberty Oilfield Services Inc. and Schlumberger announced the completion of the contribution of Schlumberger’s onshore
hydraulic fracturing business in the United States and Canada to Liberty on December 31, 2020, including its pressure
pumping, pumpdown perforating, and Permian frac sand businesses, in exchange for a 37% equity interest in Liberty. The
transaction strengthens Liberty’s position in offering one of the most innovative suites of completion services and
technologies to operators in onshore North America. Liberty will continue to be led by its current management team,
developing and delivering next generation technology for the sustainable development of unconventional energy
resources. Concurrent with the closing, Liberty added two representatives from Schlumberger to its board of directors
-Simon Ayat, Senior Strategic Advisor and former Executive Vice President and Chief Financial Officer, and James R
McDonald, President of Americas Land.
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Weirong (China)) Shale Gas Field Phase I 1 billion cubic meters production
capacity fully completed
36
The 1 billion cubic meter annual production capacity construction project of the Weirong Shale Gas Field of Southwest Oil and Gas Branch will be fully completed. At present,
the daily gas production is 3.5 million cubic meters, which can meet the daily gas consumption of about 7 million households, and contributes an important force to the winter
natural gas supply. The Weirong shale gas field is my country’s first deep shale gas field with proven reserves of over 100 billion cubic meters. It is located in Neijiang City and
Zigong City, Sichuan Province. It has submitted proven reserves of 124.7 billion cubic meters and was selected by the Chinese Geological Society in 2018. The Ten Major
Geological Prospecting Achievements" are a landmark achievement of Sinopec's increasing efforts in clean energy development, entering deep shale gas and making major
exploration breakthroughs. The Weirong shale gas field has an average buried depth of 3750 meters. It is a deep shale gas field. It faces challenges such as high fracture pressure,
large horizontal stress difference, difficult fracture network volume modification, and low single well production. At present, Southwest Oil & Gas Branch has broken through
the technical bottleneck of the development of deep shale gas fields with a depth of 3,500 to 4,000 meters, using high-efficiency drilling technology, a new generation of
fracturing technology, and integrated production technology to achieve scale-efficient development of deep shale gas. The construction of the Weirong shale gas field is carried
out in two phases. Currently, 56 wells on 8 platforms have been deployed in the first phase. 55 wells have been drilled. The drilling encounter rate of high-quality reservoirs is
above 95%. Put into production; the construction of the second phase of 2 billion cubic meters of production capacity is accelerating, and the construction of oil and gas testing,
gas gathering pipelines, and power supply lines is in full swing. After being fully completed in 2022, the annual production capacity of the gas field will reach 3 billion cubic
meters, which is equivalent to the annual gas consumption of 16 million households. This is of great significance to promoting the construction of the Chengdu-Chongqing
double-city economic circle and the economic development of the region along the river.
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Capital financial(China) business has become a new engine for transformation
and upgrading
37
During the "Thirteenth Five-Year Plan" period, while focusing on strengthening and expanding the main petroleum and petrochemical business, Sinopec actively
developed financial business and served the development of the main business, and formed capital covering capital platforms, leasing, insurance, futures, and investment.
Financial business and management system. the group company followed the trend of reform, and the party group decided to establish a capital and financial business
department to coordinate the development of capital financial business and cultivate new development momentum. As a pilot unit for deepening the reform of the group
company, since its establishment, the Capital and Financial Business Department has always regarded supporting and serving the development of the main business and
creating a new engine for transformation and upgrading as an important responsibility. All financial companies always keep in mind the responsibility of "supporting
and serving the main business", allocate financial resources around the development of the main business, and provide financial services such as bills, loans, foreign
exchange, insurance, futures, and factoring for upstream and downstream enterprises in the industrial chain. Develop and provide one-stop financial service solutions,
and strive to improve the directness of financial support based on the needs of the main business, continuously improve the level of precise service for one company, one
policy, and create the ability to provide customized and differentiated financial products and services.the group company approved the establishment of the petrochemical
financial technology platform project and included it in the "Sinopec E-commerce Platform Development Plan". This is another practice of the Capital and Financial
Business Department to promote the digital transformation of the group's financial business and empower the transformation and upgrading of the entity industry. At
present, the basic credit information query function of enterprises and the B2C online payment type II account payment function have been launched online, and the party
dues payment function has been realized.
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The ORLEN (Poland) Group doubled the number of fuel stations in Slovakia
during the year
38
ORLEN as the owner of the petrol station on the Slovak market.Recently, two new facilities were opened under the Benzina-Grupa ORLEN brand, which means that on the
Slovak market, customers can now take full advantage of the attractive Stop Cafe offer in 13 locations.Another 7 will be modernized and adapted to the ORLEN Group's
standards in 2021. As announced, by the end of this year we have doubled the number of stations in Slovakia.The sales results show that the ORLEN Group network is trusted
by drivers and has great growth potential.We focus on further development to become one of the leaders of retail sales in Slovakia.Our activities are in line with the ORLEN
Group's strategy until 2030, in which we strongly focus on further dynamic development of this segment - saysDaniel Obajtek, President of the Management Board of PKN
ORLEN. The ORLEN Group entered the Slovak retail market in April 2019.Currently, it has 20 stations under the Benzina ORLEN brand there.As in the Czech Republic,
Slovak stations offer Polish products, includingbeverages, food products, oils and operating fluids.Currently, Slovak drivers use the ORLEN Group's petrol stations located in
urban areas in Malacky, Holice, Lužianki, Šelpice, Šurany, Strečno, Tesárské Mlyňany, Senec, Ružomberok, Byteč, Dunajská Streda and recently also in Trebatice near
Piešťany and in Kysucké Mestočka.Further facilities, after necessary modernization and renovation, will be available for Slovak drivers in 2021. The fastest growing segment
of sales at Benzina fuel stations - ORLEN Group is the gastronomic offer, the volumes of which in the Czech Republic have increased by 320% over the last eight years.It is
also very popular among drivers in Slovakia.Additionally, at the newly opened station in Trebatice, they can additionally use a modern and ecological car wash. The ORLEN
Group has the largest network of over 2,840 fuel stations in Central and Eastern Europe, located in Poland, the Czech Republic, Germany, Slovakia and Lithuania.The concern
is consistently raising the standard of the facilities and extending the non-fuel offer.At the end of the third quarter of 2020, there were over 2,181 Stop Cafe and star Connect
food outlets operating within the network, including nearly 592 convenience stores under the O! SHOP brand.
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