Saudi Arabia moves closer to $1bn deal for Reko Diq copper-gold project
NS Energy
by Refna Tharayil
1d ago
Saudi Arabia is reportedly nearing a deal worth approximately $1bn to acquire a minority stake in Barrick Gold’s Reko Diq copper and gold mine located in Pakistan. The country’s investment fund Manara Minerals intends to invest in the copper gold project and may announce a preliminary agreement on the transaction terms within a few weeks, reported Bloomberg. The news agency citing undisclosed sources with knowledge of the matter said that the country’s discussions for a minority stake in the Reko Diq project are at a very early stage and could still collapse or be postponed. Manara Minerals is ..read more
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BP simplifies organisational structure and announces executive team changes
NS Energy
by Refna Tharayil
1d ago
bp is simplifying its organisational structure, supporting delivery of the priorities it set out in February 2024 to grow the value of bp. bp will continue to have three businesses – production & operations, gas & low carbon energy and customers & products – enabled by trading & shipping. The current regions, corporates & solutions organisation will be integrated into the businesses and functions, and bp will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. Together these changes will reduce d ..read more
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DEME wins cable installation contracts from Prysmian for Ijmuiden Ver Alpha and Nederwiek 1 offshore grid systems
NS Energy
by Refna Tharayil
1d ago
DEME has been awarded two contracts from cable solutions provider Prysmian for the engineering and installation works for the IJmuiden Ver Alpha and Nederwiek 1 offshore grid systems in the Netherlands. This is the most extensive cabling award in DEME’s history and marks the company’s first project involving Prysmian’s 525 kV HVDC cable technology, featuring increased transmission capacity. The contracts exemplify DEME’s integrated solutions approach, encompassing cable installation, landfall and rock placement, dredging, and marine infrastructure works. This includes the engineering and the i ..read more
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Reunion Gold announces signing of mineral agreement with government of Guyana for Oko West project
NS Energy
by Refna Tharayil
1d ago
Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company”) is pleased to announce that it has signed a Mineral Agreement with the Cooperative Republic of Guyana and the Guyana Geology and Mines Commission. The Mineral Agreement provides the Company and its 100%-owned Guyanese subsidiary with stable fiscal and operating conditions during the life of the Oko West gold project. The terms in the agreement are consistent with current standard terms established by the country. Rick Howes, President and CEO of Reunion Gold, stated “I am pleased to have executed our Mineral Agreement with the ..read more
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Petrofac wins $350m technical services contract from GEPetrol
NS Energy
by Refna Tharayil
2d ago
Petrofac has secured a technical services contract worth about $350m from Equatorial Guinea’s national oil company Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol) to facilitate the operation of the region’s Block B asset. According to the terms of the contract, Petrofac will deliver technical services across onshore support bases, a floating production storage and offloading (FPSO), and a platform on behalf of the operator GEPetrol. The Block B offshore development area, which is spread over 500,000 acres in the Gulf of Guinea, contains the Zafiro oil field. The Zafiro field has ..read more
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Image Resources sets initial capex of $32m for Yandanooka mineral sands project
NS Energy
by Refna Tharayil
2d ago
Image Resources said that its fully-owned Yandanooka mineral sands project in Western Australia will require an initial development capital (capex) of A$50.3m ($32.3m), based on the findings of a pre-feasibility study (PFS). According to the study, the Yandanooka project will produce 1.04 million tonnes of heavy mineral concentrate. Located nearly 300km north of Perth in the North Perth Basin, the project is a broad, dunal-style heavy mineral sands deposit. Image Resources said that mineral sands project will utilise dry open cut mining methods. The current capital estimates for the project pr ..read more
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Wood Australia awarded Concept Study contract for Greater Sunrise fields
NS Energy
by Vidya Sagar
2d ago
Wood Australia, a subsidiary of UK-based Wood, has secured a contract for conducting a  Concept Study for the Greater Sunrise gas fields, located offshore Timor Leste. The study contract has been awarded by partners of Sunrise Joint Venture (SJV), after a global contract procurement process. SJV is owned by TIMOR GAP with a 56.56% interest, Woodside Energy with a 33.44% stake, which is also the operator, and Osaka Gas Australia with the remaining 10.00% interest. Wood will lead the study with a subcontracting team comprising specialist consulting partners. The study will consider the key ..read more
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US government to halt major Alaska mining project over tribal concerns
NS Energy
by Vidya Sagar
2d ago
The US Department of Interior is set to halt a major mining development in Alaska over concerns that several local tribes will be disrupted by the project. According to multiple news reports, the Biden administration is expected to deny permission for a 211-mile (340km) industrial road that leads to a large copper deposit. The industrial road project runs through the Arctic National Park and Preserve, a major piece of protected land in the northern half of the state. The proposed move is anticipated to end a long-term conflict between local tribes, opposing the project due to its impact on sub ..read more
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Castile’s Rover 1 IOCG project gets Northern Territory’s major project status
NS Energy
by Refna Tharayil
2d ago
Castile Resources has secured the major project status for its fully owned Rover 1 iron oxide copper gold (IOCG) project from the Northern Territory government in Australia. The project is situated in the historically significant copper/gold fields of the Tennant Creek region in the Northern Territory. It is anticipated to yield essential and valuable minerals downstream, including gold, 99% copper, 99% cobalt, and high-grade 96.5% magnetite. The major project status status has been awarded to the Australian IOCG project for its potential to contribute to the economic development of the Northe ..read more
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Lummus expands R&D capabilities to enhance innovation and water and wastewater technologies
NS Energy
by Refna Tharayil
2d ago
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) facility dedicated to advancing its Zimpro suite of water and wastewater treatment technologies. Officially named the Lummus Green Circle Labs and located in La Porte, Texas, the facility will focus on enhancing commercial value and versatility and accelerating innovation in Lummus’ water and wastewater technology. “When we added Zimpro to our portfolio last year, we expanded our offering for sustainable and integrated solu ..read more
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