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PESA - Petroleum Exploration Society of Australia

Promoting Professional and Technical Excellence in Energy Geoscience – Networking, On-going Professional Education, Monthly Technical Meetings

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Archives for May 2017

Woodside reveals thinking for Browse Project

09/05/2017 Posted by Dale

Woodside has flagged potential first Browse basin gas from the mid-2020s. However, it remains unlikely that the Perth-headquartered oil and gas producer intends to deploy floating LNG or construct a new onshore plant, as was the initial plan near Broome, if and once the suspended project does receive FID. At Woodside’s annual general meeting on Friday, CEO Peter Coleman gave a hint of where Woodside was heading with Browse, saying: “As you know, we have worked for some years to find the right development concept for the world class Browse resources. I’m very excited about where we are headed.” Woodside…

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Arrow enters FEED for Surat expansion

09/05/2017 Posted by Dale

Arrow Energy has announced that it will undertake the front-end engineering design (FEED) phase for a proposed major expansion of its Tipton gas project 30km west of Dalby in Queensland’s Surat Basin. Arrow Energy CEO Qian Mingyang said the project involved a significant upgrade of existing facilities, and would more than double production capacity from Tipton to more than 80 TJ/d. “This project continues the development of the Arrow resource which will see more gas in the market,” Mr Qian said. The project followed a recent $600 million investment by Arrow in its Surat Basin infrastructure, comprising the $500 million…

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Oil feels the squeeze

01/05/2017 Posted by Dale

Oil discoveries declined to 2.4 billion barrels in 2016, compared with an average of nine billion barrels per year over the past 15 years, the International Energy Association (IEA) has reported. The IEA added that the volume of conventional resources sanctioned for development last year fell to 4.7 billion barrels, 30% lower than the previous year as the number of projects that received final investment decisions dropped to the lowest level since the 1940s. The slowdown was the result of reduced investment driven by low oil prices The slump in the conventional oil sector, however, was in sharp contrast to…

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PESA MAGAZINE – LATEST EDITION

PESA News Issue 173

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PESA - Petroleum Exploration Society of Australia

The Petroleum Exploration Society of Australia is a non-profit association of individuals involved in the exploration of oil and gas.

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