Archives for September 2018

Jadestone satisfies conditions for Montara acquisition from PTTEP

25/09/2018 Posted by Dale

Jadestone Energy has satisfied all conditions precedent to its proposed acquisition of the Montara oil project, offshore Australia, from Thailand’s PTTEP. The independent oil and gas producer announced on Friday that the transaction was expected to complete within 10 days. PTTEP announced its decision to divest its 100% stake in the Montara field to align with the company’s business strategy aimed to focus on the operations and projects in strategic locations back in mid-July. The company subsequently sold Montara to Jadestone for US$190 million with PTTEP negotiating additional contingent considerations of up to US$160 million, depending on certain production, oil…

China and Russia deals come at a high cost for Venezuela

25/09/2018 Posted by Dale

Venuezela is paying a high price for loan agreements, according to global data and analytics company GlobalData following the recent visit of Venezuela President Nicolas Maduro to China to sign cooperation agreements to seek more financial support for his country’s crippled economy. Adrian Lara, Senior Oil and Gas Analyst at GlobalData, said: “Financial support to keep the Maduro regime alive will certainly come at an increasingly high cost for Venezuela in the form of loss of autonomy from Petróleos de Venezuela, S.A (PDVSA) to develop, operate and export oil and gas production from its own fields. “Chinese and Russian companies,…

IMPROVING NORTHERN AUSTRALIA’s “INFRASTRUCTURE TRIFECTA”IS KEY TO JOBS AND ECONOMIC PROSPERITY

25/09/2018 Posted by Dale

No growth is possible within Australia’s largest undeveloped footprint - Northern Australia - without fundamental gains in its “infrastructure trifecta”, according to one of the region’s most experienced industry lobbyists. Mayor of Mount Isa, Madam Mayor Joyce McCulloch, said the costs and handling of the region’s three main infrastructure essentials - energy, transport and water supply - are the main issues constricting much needed new domestic and international investment across northern Australia. “Government and private sector support to improve these three factors is crucial to ensuring the future viability of industry across Australia’s north, particularly for its globally-renowned but maturing…

Cairn evaluating FPSO tender bids for SNE

17/09/2018 Posted by Dale

Cairn Energy is assessing tender responses for the FPSO facility and subsea infrastructure for its SNE field development, offshore Senegal, ahead of the front end engineering and design (FEED) phase planned for the fourth quarter of this year. Cairn, as operator, has a 40% working interest in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rufisque Offshore) alongside partners, Woodside 35% WI, FAR 15% WI, and the Senegal National Oil Company, Petrosen 10% WI, which has the right to increase its equity to 18% on development. Cairn announced that approval for the exploitation plan submission and approval was on…

TGS announces new 3D multi-client survey off West Africa

17/09/2018 Posted by Dale

Norwegian geoscientist data company TGS has announced that it will commence a new 3D multi-client in West Africa in the early fourth quarter of this year. TGS said that Jaan, a fully harmonized 3D multi-client project, will cover the southern portion of the MSGBC Basin from northern Senegal, through Gambia and the AGC zone into Guinea-Bissau and down to the Guinea transform fault. The project will consist of 11,135 square kilometres of new acquisition complemented by the reprocessing and full stack merging of existing multi-client 3D. The new data will be acquired using triple source broadband acquisition. Once complete, the…

CGG’s MotionMap UK Data ‘Enhances Ground Risk Reports of Terrafirma Search’

17/09/2018 Posted by Dale

High-precision ground stability measurements from CGG’s recently released MotionMap UK database will now be used to enhance the specialist ground risk reports of Terrafirma Search, the UK’s leading independent advisor on ground hazards. After signing a multi-year agreement with CGG, Terrafirma becomes one of the first UK companies to include the latest-generation MotionMap UK data, which reveals millimeter-scale changes in ground and building heights, in their suite of geological, geotechnical and environmental services. The MotionMap UK data will enhance the insight, risk ratings and professional recommendations of Terrafirma’s property and land reports used by professionals to identify, assess, manage and…

PESA WA Branch Evening Lecture Series

13/09/2018 Posted by Alison McLeod

In addition to the successful PESA WA Branch Technical Luncheon Series held this year, the Evening Lecture Series has been going very well too. Our Evening Lecture Series is a great platform for networking over canapes and drinks accompanied by a technical talk in a very relaxed environment. The event usually starts around 5.30pm at The Georges Hotel. The first evening lecture that PESA WA hosted this year was on 17 April with Chris Cubitt as the guest lecturer. His topic was on the “Drill cuttings, core, wireline and seismic – a match made in heaven!” and the event was…

PESA WA August Luncheon – Evolution of “Tres Hombres”

13/09/2018 Posted by Alison McLeod

PESA WA Branch hosted Chris Hurren from BHB Billiton, with special gratitude to our four technical series sponsors, to talk our members through the evolution of the large mid-crustal “Tres Hombres” structure within the northern Beagle Sub-basin, offshore WA. Three enigmatic circular structures in the outer part of the Beagle sub-basin, known as the three brothers, or possibly named after the album of the same name by ZZ Top, have attracted passing interest and quite a bit of head scratching in the past based on some rather sparse 2D seismic lines. Now that they are beautifully imaged on the TGS’s…