Saudi developer ACWA Power announced the signing of the Roadmap Agreement with the Ministry of Energy of Kazakhstan and Samruk-Kazyna, Kazakhstan’s Investment Development Fund and sovereign wealth fund, for the 1GW wind energy and battery storage project within the Central Asian country. This significant milestone establishes the project’s roadmap, providing a clear direction for the formalization of processes and paving the way for construction.
The agreement was signed by H.E. Almassadam Satkaliyev, Minister of Energy of the Republic of Kazakhstan; Nurlan Zhakupov, CEO of Samruk-Kazyna; Basil Yernat Duisenbekuly, Deputy Governor of the Zhetysu region; and Marco Arcelli, CEO of ACWA Power. The ceremony also had the honor of the presence of HRH Prince Abdulaziz bin Salman Al Saud, the Minister of Energy of the Kingdom of Saudi Arabia.
“The signing today exemplifies the remarkable progress of the 1GW wind and battery storage project, setting the stage for Kazakhstan’s stride towards its clean energy ambitions. The transformative project will have a profound impact on the country’s socioeconomic landscape, and we are truly honored to be an integral part of this journey. Our appreciation goes to the Kazakhstani government and the visionary leadership of HRH Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, for their unwavering support, invaluable guidance and unparalleled commitment,” commented Marco Arcelli, Chief Executive Officer of ACWA Power.
With the head of terms agreement announced earlier this year, the 1GW wind project represents ACWA Power’s entry into Kazakhstan, and with an investment tag of US$1.5 billion, marks the biggest Saudi investment in Kazakhstan’s power sector to date. The project aims to support national climate action, utilize renewables and promote sustainable development through innovation and technology integration. With completion scheduled for 2027, the development will play a crucial role in decarbonizing fossil fuel-based power generation.
Central Asia is ACWA Power’s second-largest market in terms of investments, underscoring the company’s long-standing commitment to the region. This endeavor seeks to unlock new value and capitalizes on emissions abatement and energy transition opportunities through the utilization of wind turbines and battery storage.
TotalEnergies Makes Oil and Gas Discovery in Nigeria’s Offshore OML 102
TotalEnergies announced the Ntokon oil and gas discovery on OML102 offshore Nigeria. Located in shallow waters, 60 km off the southeast coast of Nigeria, the Ntokon-1AX discovery well encountered 38 meters of net oil pay and 15 meters of net gas pay, while its side-track Ntokon-1G1 encountered 73 meters of net oil pay, in well-developed and excellent quality reservoirs. Ntokon-1G1 tested successfully up to a maximum rate of about 5,000 barrels per day of 40° API oil.
Located 20 km from the Ofon field facilities on OML102, Ntokon is planned to be developed through a tie-back to these existing facilities.
“The Ntokon discovery opens a promising outlook for a new tie-back development’’, said Nicolas Terraz, President, Exploration & Production at TotalEnergies. “After the start-up of production of the Ikike tie-back on OML99 in 2022, this new success in the area further demonstrates the potential of nearby exploration to create value within our low cost, low emission strategy.”
OML 102 is operated by TotalEnergies EP Nigeria with a 40% interest, alongside partner NNPC with the remaining 60%.