This is the first high-capacity unit to be installed in the field, with the potential to produce up to 225,000 barrels of oil per day (bpd) and process 12 million cubic meters of gas daily.
Following the signature of this agreement, the Block 6 partners will now proceed with the Cronos Development and Production Plan, in close collaboration with Cyprus authorities.
The solution allows offshore construction vessels (OSCVs) to handle more tasks independently, filling the shortage of vessels capable of large-scale mooring installations.
Under the terms of the MoU, bp will collaborate with ONGC to jointly explore and evaluate potential business opportunities in oil and gas projects both within India and internationally.
These technologies, which have implications for both traditional oil and gas and new energy applications, were unveiled at Baker Hughes’ 25th Annual Meeting in Florence, Italy.
The project, executed by the company's Kuala Lumpur (KL) based team, in water depths of approximately 1,400 meters, progressed on a fast-track schedule.
Santos’ Moomba Carbon Capture and Storage project in South Australia’s Cooper Basin started up in October 2024 and at year-end had already stored 340,000 tonnes of CO2-equivalent (CO2e).