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Latest news about Oil and gas Industries-21.03.25
On March 17, 2025 Cheniere Energy has achieved substantial completion of Train 1 at the Corpus Christi Stage 3 Liquefaction Project (CCL Stage 3) on March 16, 2025, with commissioning finalized and Bechtel Energy handing over operations to Cheniere. This milestone, completed ahead of schedule and on budget, marks a significant step in expanding Cheniere’s LNG production. CCL Stage 3, consisting of seven midscale trains, is expected to produce over 10 million tonnes per annum (MMtpa) of LNG, with the entire Corpus Christi facility reaching over 25 MMtpa upon full completion. As of January 31, 2025, overall project completion stood at 78.3%, with engineering and procurement nearly finalized and construction at 45.5%. Cheniere remains committed to safely and efficiently bringing the remaining trains online, reinforcing its role in meeting global LNG demand and delivering long-term value to stakeholders.
On March 18, 2025, Equatorial Guinea relaunched its open-door licensing process for 2025, signaling a strategic shift toward prioritizing exploration and investment. At CERAWeek by S&P Global, Minister of Mines and Hydrocarbons Antonio Oburu Ondo outlined fiscal reforms, including reduced corporate, dividends, and withholding taxes, to attract investors and boost hydrocarbon production. The open-door policy allows international companies to apply for licenses through direct negotiations, with seven new production-sharing contracts already awarded. The upcoming licensing round will be supported by a new competitive tax law, strengthened hydrocarbons regulations, and a multi-client 3D seismic acquisition initiative to enhance data transparency and investor confidence.
The country’s Gas Mega Hub initiative remains central to its energy strategy, with partnerships in Cameroon and Nigeria to monetize and process gas at the Punta Europa facilities. Equatorial Guinea is advancing major gas projects, including the Alen, Alba Tail, and Aseng Gas Monetization initiatives, reinforcing its position as a regional gas powerhouse. Additionally, the government is making progress in climate initiatives, working toward a leadership role in gas and transitional energy while developing carbon credit ventures through international collaborations. With intensified drilling activities planned through 2027, the nation aims to sustain energy growth while enhancing competitiveness in the global market.
On March 18, 2025 MOL discovered a new oil field near Somogysámson in Western Hungary, marking its first oil find in the Transdanubian region in over a decade. The exploration drilling in December 2024 confirmed oil at a depth of 1,250 meters, with the well, Som-8, capable of producing 1,200 barrels per day (bpd). This discovery further strengthens Hungary’s energy security, adding to recent oil and gas finds in Vecsés, Tura, and Eastern Hungary. MOL, the country’s largest hydrocarbon producer, supplied 47% of Hungary’s crude oil and nearly 90% of its natural gas in 2024, and plans to invest HUF 150 billion over the next five years to enhance domestic production.
The Som-8 well accounts for about 1% of MOL Group’s total hydrocarbon production, contributing to the company’s goal of maintaining a production level of at least 90,000 bpd as part of its SHAPE TOMORROW strategy. To achieve this, MOL is expanding its international portfolio and has recently signed strategic cooperation agreements with the national oil companies of Kazakhstan, Azerbaijan, and Türkiye. In 2024, MOL’s operations spanned nine countries, with production in eight, averaging 93.8 thousand barrels of oil equivalent per day. The company remains committed to reducing Hungary’s import dependence and further strengthening its exploration and production capabilities.
Visit: https://worldoil.com/news/2025/3/18/mol-discovers-new-oil-field-in-western-hungary/
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