The French oil and gas company’s partners in Block 20/11 are Petronas Angola E&P and Sonangol Pesquisa & Produção with stakes of 40% and 20%, respectively. The remaining 40% interest is owned by TotalEnergies’ subsidiary TotalEnergies E&P Angola Block 20, which is the operator of the concession.

Located 100km off the coast, and in a water depth of 1,700m, the Kaminho project is said to be the first large deepwater development in the Kwanza basin.

The deepwater project involves the conversion of a very large crude carrier (VLCC) to a floating production storage and offloading (FPSO) unit, which will be linked to a subsea production network.

Angola Minister of Mineral Resources, Oil & Gas Diamantino de Azevedo said: “This partnership is for us of extreme importance, as it creates a joint operating entity between Sonangol and TotalEnergies in production phase.

“It is also relevant that the contracts signed today include national companies and contribute to local content with more than 10 million hours of work to be performed by local companies”.

According to TotalEnergies, the all-electric FPSO will reduce greenhouse gas emissions and eliminate routine flaring. Associated gas will be reinjected fully into the reservoirs, said the company.

The production at the Kaminho deepwater project is slated to commence in 2028, with an expected peak production of 70,000 barrels of oil per day (bopd).

The offshore oil project would involve more than 10 million man-hours in Angola. This will be primarily for offshore operations and construction at local yards.

TotalEnergies chairman and CEO Patrick Pouyanné said: “Building on our pioneering spirit and our long-term partnership with Angola, we are pleased to launch the Kaminho project along with our strategic partners, Sonangol and Petronas, and the strong support and confidence of the Angolan authorities.

“This project, which leverages innovation to fit with our investment criteria – breakeven under 30 $/b and carbon intensity of 16 kg CO₂e/boe – will become our seventh FPSO in the country and the first-ever development in the Kwanza basin.”

Separately, TotalEnergies has awarded three new contracts worth $3.7bn to Saipem pertaining to the Kaminho project.

Under the first contract, Saipem will deliver the engineering, procurement, construction, transportation, and commissioning of the Kaminho FPSO vessel.

The second contract covers the operation and maintenance (O&M) of the same FPSO vessel for a firm period of 12 years. It can also be extended by an additional eight years.

Saipem’s scope for the third contract encompasses the engineering, procurement, supply, construction, installation, pre-commissioning, and assistance for the commissioning and start-up of a subsea, umbilicals, risers, and flowlines (SURF) package.

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Being developed at Haibin harbor in Lianyungang city, the pilot project entails an investment of CNY9.88bn ($1.38bn). It is said to become the largest offshore solar farm in China.

The solar farm will comprise an energy-storage facility with a capacity of 400MW. Its solar panels will cover an area of 18.8km^2.

The Chinese offshore solar project is being constructed in the warm seawater area designated for China National Nuclear Power’s nuclear power station in Tianwan.

An area of the water is used for the nuclear power plant’s warm water discharge, while the neighbouring space is designated for the offshore PV construction. The project is divided into two parts, namely offshore and onshore, reported Global Times.

The offshore section includes solar power generation, with the produced electricity sent to the onshore step-up substation through an overhead corridor bridge. It will then be integrated into the state grid following voltage adjustment.

According to the publication, the onshore energy storage project is in its last phase of construction and is likely to be completed and operational by the end of June 2024.

The offshore solar project will be linked to the state grid in September 2024 and its full capacity is slated to be connected next year.

The project is expected to produce 2.23 billion kilowatt-hours of power during its lifespan of 25 years. This clean energy produced will address the annual production and life requirements of 230,000 people.

Furthermore, the solar project is estimated to offset carbon dioxide emissions by 1.77 million tons per year as well as save approximately 680,000 tons of standard coal.

CNNP, has been quoted by South China Morning Post, as saying: “Upon completion, it will cross couple with the nuclear power station, forming a 10GW large-scale clean-energy production base.”

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The move comes after the implementation of dedicated site policing and the conditional confirmations from all members of the Ethiopian gold project’s finance syndicate.

KEFI Gold and Copper has scheduled early works for the Tulu Kapi project until September this year.

These include completing preparations for community resettlement, detailed engineering for procurement, conducting community consultations on social development plans, and undertaking recruitment and other organisational development activities.

This will be followed by major works, including procurement and fabrication of plant, site earthworks, grade-control drilling, mining, and definitive feasibility study (DFS) on underground mine, from October 2024.

The company also aims to satisfy all conditions required for closing the project financing.

KEFI Gold and Copper executive chairman Harry Anagnostaras-Adams said: “Our launch timing is fortuitously coinciding with the improved conditions in Ethiopia and all-time high gold prices.

“Tulu Kapi’s high grade and high process recovery, combined with our project design, has resulted in a robust set of economics for long-term operations which should support further exploration and development along with good opportunities to continue supporting local social development projects such as the already provided local school and water supply.”

The company holds a 95% stake in the Tulu Kapi gold project. The remaining 5% free-carry interest is held by Ethiopian government.

Last year in April, KEFI Gold and Copper signed the final umbrella agreement for project financing of the Tulu Kapi project. It outlined the roles of all syndicates, finance conditions, and conditions precedent to final formal approval being granted.

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DoD awarded the financing under the Defense Production Act (DPA) battery grant programme.

The financing will be matched with a $43m investment by South32, to support the activities that will help advance the domestic production of battery-grade manganese.

Hermosa is a polymetallic development with zinc-lead-silver sulfide deposit, a battery-grade manganese deposit, with the potential for further polymetallic and copper mineralisation.

Located in a historic mining district in the Patagonia Mountains of Southern Arizona, Hermosa is the only US project to produce, zinc and manganese, two federally designated critical minerals.

South32 Chief Executive Officer Graham Kerr said, “The Department of Defense funding will help support the development of the Hermosa project’s battery-grade manganese deposit.

“The only advanced project in the United States that has demonstrated through a pilot testing program that it can produce battery-grade manganese from a domestic ore source.”

The DoD funding will help South32 advance battery-grade manganese production at Hermosa, to market in North America, including DoD-designated end-users.

Also, the funding is expected to create a cost-effective domestic option for manganese products within the electric vehicle battery supply chain that is currently dependent on imports.

Hermosa project is adopting sustainability and advanced technology in its underground mine design, through power supply from renewable energy and all-electric underground mining fleet.

The manganese deposit would have a lower carbon footprint than other methods to produce battery-grade manganese such as the Electrolytic Manganese Metal (EMM) production process.

The project, with a surface footprint of 750 acres is expected to use around 75% less water than other mines in the region, minimising environmental impact.

Furthermore, the project is expected to support the local economy, create up to 900 jobs and support investment across surrounding communities for decades.

Hermosa president Pat Risner said: “This project represents an opportunity for the United States to create domestic supply chains for the minerals and metals important to national security.

“The Department of Defense funding will help develop this critical resource on a timeline that matches that urgency.”

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The British oil and gas exploration and production company plans the drilling of the offshore development in the first half of 2025. Following the drilling, the Belinda field will be tied back to the Triton floating production storage and offloading (FPSO).

Located in Block 21/30f around 6km southeast of the Triton FPSO, the offshore field was discovered in 1990 and appraised in 2016. It is being developed as a single well tieback to the Triton FPSO.

According to Serica Energy, the Belinda field holds estimated proven and probable reserves of nearly 5 million barrels of oil equivalent (mboe) which represents 80% oil.

Production from the field is slated to begin in Q1 2026 upon the completion of the tie-back work to the Triton FPSO.

The Belinda field is the fifth well in Serica Energy’s Triton area drilling campaign which started last month using the COSLInnovator drilling rig. The area consists of eight producing oil fields.

They are namely Evelyn, Clapham, Pict, Bittern, Guillemot West, Guillemot Northwest, Gannet E and Saxon. All of the producing wells are designed to improve production through the Triton FPSO.

Serica Energy chairman and Interim CEO David Latin said: “We are delighted to have received approval to develop Belinda. This will build on our strong track record of delivering growth and adding value through investment in our assets.

“We have further potential projects in our portfolio which we continue to assess, including the possible re-development of the Kyle field, which could, like Belinda, be another low emissions tie-back candidate to the Triton FPSO.

“We look to the UK government to implement tax and licensing arrangements that support investments like Belinda, thereby creating UK jobs, earnings and tax receipts instead of increasing reliance on energy imports.”

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Under the terms of the agreement, the Spanish electric utility will pay Avangrid’s shareholders $35.75 per share to buy out the remaining shares of Avangrid, which is a renewable energy developer based in Connecticut.

The consideration represents a premium of 11.4% over the closing price of Avangrid common stock on 6 March 2024 and a 15.2% premium over the volume-weighted average price of Avangrid common stock over the 30 trading days.

Currently, Iberdrola holds around 81.6% of Avangrid’s capital.

Through the acquisition, Iberdrola aims to expand its presence in the networks sector within the US. Iberdrola is prioritising growth in markets having robust credit ratings and in regulated sectors such as networks.

Upon the completion of the transaction, a formal request will be submitted to delist Avangrid shares from the New York Stock Exchange (NYSE).

Presently, Avangrid has $44bn in assets and operates in 24 US states. The company focuses on two primary business areas, which are networks and renewables.

In the networks sector, Avangrid supervises eight electric and natural gas companies, serving more than 3.3 million customers in New York and New England.

Simultaneously, in the renewables sector, the company oversees a diverse portfolio of renewable energy generation facilities across the US.

Avangrid CEO and president Pedro Azagra said: “We are excited about Iberdrola’s continued investment in Avangrid and commitment to the United States.

“As a wholly-owned member of the Iberdrola Group, we will continue to serve our customers and build our renewable energy assets work to achieve our vision to lead the clean energy transition with a strong commitment to sustainability, community, governance, and our employees.”

Subject to customary conditions, including shareholders and the Federal Energy Regulatory Commission (FERC), the Maine Public Utilities Commission and the New York Public Service Commission approvals, the deal is expected to be complete in Q4 2024.

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Located nearly 85km northwest of Borkum and approximately 110km west of Helgoland, the offshore wind project represents an investment of close to €2.4bn.

Once operational, the He Dreiht project will generate sufficient clean energy to deliver electricity to 1.1 million households. The annual yield of the offshore wind farm, which will feature 64 Vestas V236-15 wind turbines, is expected to be 3.6 billion kWh.

The German offshore wind farm is owned 50.1% by EnBW, while a partner consortium consisting of Allianz Capital Partners, AIP and Norges Bank Investment Management holds the remaining 49.9%.

EnBW secured the contract for the He Dreiht offshore wind project back in 2017 during the first offshore auction held in Germany.

The company plans to install the first foundations in the seabed in the coming few days by utilising the Thialf floating crane.

Besides, the foundation installation works will continue into the summer. The wind turbines and cables are being manufactured simultaneously and are scheduled to be installed and laid in early 2025.

The He Dreiht offshore wind farm is slated to achieve full operations at the end of 2025. Dutch-German grid operator TenneT is anticipated to link the wind farm to the grid by leveraging an offshore converter station and two high-voltage DC export cables.

EnBW CEO Georg Stamatelopoulos said: “EnBW will play its part in further accelerating the energy transition in Germany, which is why it wants to invest a total of 40 billion euros in the energy transition by 2030 – the lion’s share of it in Germany.

“We are investing around 13 billion euros alone in constructing wind farms and solar parks as well as flexibly controllable and hydrogen-ready gas power plants. Our aim is to be a climate-neutral company by 2035.”

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Built 13km to 24km off the northern coast of France, in the Normandy region, the French offshore wind project represents a total investment of approximately €2bn.

It features 71 offshore Siemens Gamesa turbines, each with a generation capacity of 7MW.

The Fécamp offshore wind farm is expected to generate clean energy enough to supply electricity to approximately 770,000 people. This is equal to 60% of the annual power consumption of the Seine-Maritime department.

Besides, the French offshore wind facility will contribute towards the country’s energy transition goals. France aims to attain a 33% share of renewable energy in its energy mix by the end of this decade.

EDF Group chairman and CEO Luc Rémont said: “This new low-carbon electricity production facility would not have been possible without close, ongoing dialogue with elected representatives and local authorities, environmental associations, fishermen, economic players and local residents.

“The development of the Saint-Nazaire and Fécamp offshore wind farms has led to the emergence of a new industrial sector in France, essential for the development of future wind farms, in particular our Calvados, Dunkirk and Manche Normandie projects.”

The Fécamp project has generated around 3,000 jobs in the Normandy region for its construction. It has also created 100 local jobs for its operations.

The first energy production from the French offshore wind farm was achieved in July 2023 and wind turbine installation was completed in March this year.

Enbridge power president and corporate strategy executive vice president Matthew Akman said: “The successful completion of the Fécamp Offshore Wind Farm marks a significant milestone for Enbridge and our project partners.

“Following the successful completion of Saint-Nazaire in 2022, Enbridge continues to advance the development and construction of several offshore wind projects in France, including the Provence Grand Large floating offshore wind project, and the Calvados, Dunkirk and Normandy offshore wind projects.”

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Mothae is an open-cast mine that began commercial operations in 2019, following the commissioning of the 1.1 million ton per annum (mtpa) kimberlite processing plant.

The mine produces large, high-value diamonds with the second-highest dollar per carat price for diamonds.

Its processing plant is equipped with an X-ray transmission (XRT) recovery facility and a treatment facility that currently undergoing upgrades to enhance the throughput capacity.

The announcement follows a review of the asset portfolio by its newly restructured board of directors.

Furthermore, the diamond company is also discussing the options with the Government of the Kingdom of Lesotho, which owns the remaining 30% stake in the diamond mine.

Lucapa chairman Stuart Brown said: “On review, it is clear the Company should streamline the portfolio to focus on our core assets in Africa and Australia.

“The Company’s collaboration with the Lesotho Government on the Mothae Diamond Mine has been rewarding and our management have worked exceptionally well to optimise the plant to recover large diamonds.

“We expect there will be significant interest from those within the diamond industry and on a wider scale.”

In 2021, Lucapa Diamond agreed to acquire the historic Merlin diamond project in Australia from Merlin Operations, a subsidiary of Merlin Diamonds, for AUD8.5m ($6.6m) in cash.

The acquisition includes the Merlin diamond project, which comprises MLN 1154, a 24km2 mining lease and a 283km2 exploration tenement, along with associated equipment and assets.

The diamond project, which was previously mined by Rio Tinto and Ashton Diamonds between 1999 and 2003, represents a near-term development opportunity for Lucapa in Australia.

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Shetland 2 is a 525kV High Voltage Direct Current (HVDC) subsea cable project, planned to connect ScotWind’s offshore wind farms with the main Great Britain (GB) transmission system.

The need for a second HVDC link from Shetland to the main GB transmission system has recently been confirmed by independent electricity system operator National Grid ESO, as part of its ‘Beyond 2030’ plan.

According to the plan, SSEN would invest £5bn in the north of Scotland by 2035 to strengthen the region’s energy infrastructure.

In addition to connecting three ScotWind offshore wind farm sites to Shetland, Shetland 2 will also support decarbonisation and energy security ambitions, said SSEN Transmission.

SSEN Transmission managing director Rob McDonald said: “Sumitomo’s investment in a new cable manufacturing facility in Nigg will help deliver a homegrown supply chain to help support our energy security and net zero infrastructure requirements.

“This is great news for the Highland economy and will support hundreds of skilled jobs in the region, helping unleash the economic potential the clean energy transition presents for the north of Scotland.”

In a separate development, Sumitomo Electric has started construction on a new, advanced subsea transmission cable factory at the Port of Nigg, Scotland.

The Japanese company plans to commission the new subsea cable factory in 2026.

The new facility, planned to be built with a £350m investment, will supply critical elements for the UK electricity grid and connect renewable energy production facilities to the grid.

It will create more than 150 highly skilled jobs in the Scottish Highlands and use the local supply chain for the production of cables and construction of transmission cable systems.

Furthermore, the new factory would provide critical electricity transmission infrastructure to connect and deliver renewable energy to the UK and help achieve the UK Net Zero Target.

Sumitomo Electric Group president Osamu Inoue said: “I am pleased to announce the commencement of this innovative High-voltage cable factory in Scotland.

“Transmission cables are key essential infrastructures to make the so-called Energy Transition to renewables into reality.

“I believe, this factory will make good contributions towards the establishment of local supply chains and to realise UK and Scottish Governments’ net zero initiatives.”

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