Exploration

The programme aims to bridge the gap between diesel and alternative fuel. (Image source: Adobe Stock)

Fleet Advantage has launched at the IAA Transportation 24 Conference its 'EV Path' programme designed to support heavy duty fleet organisations in their transition to electric vehicle (EV) and alternative fuel trucks

Developed to provide a practical solution, the new programme will match the monthly lease payment on the lease of the electric truck, to that of a diesel truck, which represents a more digestible investment level for the fleet. This could represent savings to the fleet of up to US$3,000.00 per truck, per month, in addition to off-loading the bulk of the equipment’s residual risk. 

Fleet Advantage is also planning a rollout later this year of an extension of its fleet services offerings where they will introduce additional consultative services to help fleet clients with a suite of solutions to maximise the acquisition, utilisation, maintenance, and surrender of EV and alternative fuel truck leases.

In an industry benchmark survey conducted in February 2023, 65% of respondents said they were most interested in electric trucks, while 15% cited hydrogen and 25% CNG. 45% of the respondents also noted that the time frame to deploy alternative fuel trucks would be 5-10 years. This past year in a follow up survey it was noted that those numbers were shifting, with 33.3% indicating EV over the next 5-7 years (29.6% saying another 10 years), and 38.5% indicating hydrogen. This timetable for electric truck adoption continues to change, as three years ago the majority (54%) said they didn’t plan to deploy electric trucks for 5-10 years. Also interesting is that the most recent survey shows that roughly 25% of fleets still do not see the value in adopting electric nor hydrogen trucks, respectively. All of this change reinforces the fact that fleets have unique timelines in how they wish to bridge over to alternative fuels.

Empowering fleets for smooth transition

“Adopting electric trucks is not just an environmental mandate but also a significant financial commitment,” said Brian Holland, president and CEO of Fleet Advantage. “Our innovative EV Path programme is yet another pioneering initiative developed by our team, designed to bridge the gap between traditional diesel fuel vehicles and the future of alternative fuel-powered transportation. By offering flexible financing solutions with practicality in mind and fleet services support, we aim to empower fleets to make the transition smoothly and effectively.”

Anchois-3ST has been drilled to a total measured depth of 3,045 m. (Image source: Adobe Stock)

Africa-focused transitional energy group, Chariot Limited, has announced preliminary results from the Anchois-3 well drilling campaign at the Anchois gas project in the Lixus Offshore licence offshore Morocco

The Anchois-3 Main Hole (Anchois-3ST) has been safely and efficiently drilled to a total measured depth of 3,045 m by the Stena Forth drillship in 349m of water.

Preliminary interpretation indicates multiple good quality gas bearing reservoirs were found in the B sand appraisal interval as anticipated, but the associated gas pays are now interpreted to be lower than the pre-drill geological model. Other target reservoirs beneath the B sands were also encountered but were water wet. The appraisal target reservoirs of the C and M sand were drilled deeper than the gas bearing sands in the Anchois-2 well and into the water-leg at this down-dip location.

The Anchois North Flank exploration prospect was found to have well-developed O sand reservoirs, with associated gas shows, but also water wet. The Main Hole has now been plugged and abandoned, without flow testing, and the drillship is being demobilised. Further detailed work by the partnership will be done to define the next steps for the project.

Adonis Pouroulis, CEO of Chariot, said, “The Anchois East drilling campaign has evaluated all of the pre-drill reservoir targets, however results have not delivered as anticipated or in line with the excellent results of the previously drilled Anchois 2 well. The primary exploration objectives were unsuccessful however, we did demonstrate the extension of gas bearing reservoirs in the main appraisal B sands albeit with thinner columns than estimated and data acquired from the other reservoirs will be useful for our understanding of the field. We will now work with our joint venture partners to determine the forward plan.”

Energean enjoys 45% share in the Lixus offshore licence as operator, while Chariot holds 30% and ONHYM 25%.

Mele Kyari and Michelle Pflueger, director of deepwater and PSC, CNL, sign documents. (Image source: NNPC Ltd)

Chevron Nigeria (CNL) and Nigerian National Petroleum Corporation have concluded the conversion of five of its joint venture (JV) assets into the Petroleum Industry Act (PIA) 2021 terms to leverage its investor-friendly approach over the erstwhile petroleum profit tax

The oil major opted voluntary conversion that is applicable for oil prospecting licenses (OPL) and oil mining leases (OML) holders under the old regime.

As for existing OPLs and OMLs nearing expiration, the new PIA regime automatically recognises them as petroleum prospecting licenses (PPLs) and petroleum mining leases (PMLs) upon their expiration.

The conversion of five OMLs into four PPLs and 26 PMLs as per the new PIA terms not only benefits Chevron but also boosts Nigeria's domestic gas market while expanding its global presence. 

The PIA has been a major driver of NNPC's exceptional net profit of N3.297 trillion that comprised its 2023 audited financial statement.

Long-term partner

“Over the years, Chevron has been a partner of choice that has not contemplated completely divesting/exiting (oil production in) the shallow water and we are proud of them,” said Mele Kyari, group CEO of NNPC, defining Chevron Nigeria as a reliable partner of the corporation. 

The partners are aiming to reach a production target of 165,000 barrels of oil per day (bopd) by the end of the year, revealed Bala Wunti, chief upstream investment officer, NNPC. He acknowledged Chevron Nigeria's commitment to maintaining network stability and facilitating gas supply especially to the domestic market. 

The Dangote Fertiliser Plant that opened in 2022 runs on natural gas supply from Chevron that was ensured by a gas sale and aggregation agreement signed in 2019. 

Permanently storing carbon dioxide generally has better sustainability credentials than utilising CO2. (Image source: Adobe Stock)

While covering all aspects and technologies of the CCUS value chain, a new report by IDTechEx titled 'Carbon Capture, Utilisation, and Storage (CCUS) Markets 2025-2045: Technologies, Market Forecasts, and Players' has interestingly noted how policymakers and key industrial players are focusing more on carbon dioxide storage, increasingly dropping the 'U' (utilisation) from discussions at conferences and expos

The report has found that by 2045, the world will be sequestering 1.6 gigatonnes per annum of CO2 underground, as dedicated geological storage of carbon dioxide will outpace enhanced oil recovery as the end result for CO2 capture. Major oil and gas players such as Shell, Equinor, and Chevron are leveraging decades of subsurface expertise to open-up storage in saline aquifers.

Permanently storing carbon dioxide generally has better sustainability credentials than utilising CO2. This is because permanently sequestering CO2 captured from an industrial process in dedicated underground storage is a net-zero process (or even net-negative for some CO2 sources). In contrast, captured CO2 returns to the atmosphere on short time scales for several CO2 utilisation applications, such as when a fuel synthesised from CO2 is combusted. Storing CO2 is therefore better suited to meeting emission reduction targets.

For industry stakeholders from the African energy market, CCS will be vital in attracting energy investments and eradicating energy poverty from the continent.

Decarbonising oil & gas assets

Fossil fuel infrastructure won’t disappear overnight, but existing assets can be decarbonised. New CCUS enhanced oil recovery projects are still expected in the future because the oil produced by this method has a much lower carbon footprint than typical oil extraction. Alternatively, drop-in replacements to fossil fuels can be made by utilising CO2, such as CO2-derived e-fuels. Such low-carbon fuels are seeing demand from the aviation and maritime sectors, where full electrification remains unfeasible for decarbonisation.

In the Middle East and North Africa (MENA) region, the Habshan Carbon Capture, Utilisation and Storage project is one of the largest carbon capture projects that will have the capacity to capture and permanently store 1.5 mn tonnes per annum (mtpa) of carbon dioxide (CO₂) within geological formations deep underground.