Global shale production has taken a drastic hit in 2020, where shale oil is expected to drop by 11.7% year-on-year and shale gas production may see a 4.5% fall, according to projections by data and analytics company GlobalData,.
Global Data said that market demand for oil and gas, which plummeted globally from March 2020 as the COVID-19 pandemic took hold, would continue to weigh down oil prices unless an effective vaccine was made available.
GlobalData’s latest…
Media in Africa have reported that Mozambique soldiers were able to defeat an Islamic insurgent attack which was targeting Total’s $30 billion LNG plant in the east African country – the second attack launched during the month of December.
According to reports, the battle came within 21km of the project in the Cabo Delgado province and is the continuation of a conflict that is believed to have killed 2,500 people and left 570,000 homeless.
Shearwater has signed new debt and guarantee facilities totalling US$437 million, as part of the planned refinancing of the company’s maturing debt.
The new facilities include the refinancing of the US$325 million bridge facility originating from the acquisition of the marine seismic acquisition assets and operations of WesternGeco in November 2018.
“We enjoy continued confidence from our lenders whose long-term backing has supported Shearwater in driving the necessary consolidation in the market.…
APPEA has welcomed new funding by the WA Government to deliver the learning materials needed to ensure training of operators for liquefied natural gas (LNG) plants is recognised industry-wide.
APPEA WA Director Claire Wilkinson said the funding, outlined in the State’s 2020–21 Government Mid-year Financial Projections Statement, will ensure operators are taught in a consistent manner across training providers.
“With the bulk of Australia’s LNG plants and production located in Western Australia,…
EnergyQuest CEO Graeme Bethune said November was a strong month for Australian LNG exports, with 6.9 million tonnes (Mt) shipped, the highest since April this year. This was despite supply disruptions from Gorgon, Australia’s second largest project, and delays to the start-up of the Prelude floating LNG project.
Bethune said one of the reasons for the strong performance was record production from the east coast LNG projects at Gladstone. Taken together, the Gladstone projects exceeded nameplate capacity for the first time since exports commenced in January 2015.
CGG, PGS and TGS have announced a pioneering strategic partnership to offer a shared ecosystem providing direct access to their subsurface multi-client data libraries.
The independent, cloud-based ecosystem will offer a single search point to access all three companies’ multi-client data and allow customers to interactively find, visualize and download their subsurface assets and entitlements all in one place.
All three companies released a joint media statement and commented on developments as follows:
Shearwater GeoServices has announced the award of a 3D broadband marine seismic acquisition contract by ONGC in the Western Offshore India area. The project is scheduled to commence in Q1 2021.
The four-month campaign covers two areas totalling 2,800 sq. km in the Arabian Sea off the west coast of India. Shearwater plans to use the SW Duchess and SW Vespucci for the surveys.
“Shearwater has a strong, long-standing relationship with ONGC…
A new Productivity Commission report has highlighted that better and more streamlined regulation of Australia’s resources sector will help support future investment and build community trust in the sector.
The Resources Sector Regulation report said there is considerable scope to improve regulatory processes and reduce unnecessary burdens to support investment into resources without having adverse impacts on the environment, heritage, worker safety, landowners and communities.
In welcoming the report, APPEA Chief Executive Andrew…
CO2CRC has announced that the CO2 injection for the Otway Stage 3 Project has successfully commenced.
CO2CRC’s Otway Stage 3 Project trials next generation subsurface monitoring and verification (M&V) technologies to reduce the costs for monitoring in industrial applications.
CO2 storage projects require M&V to understand movement of the injected CO₂ plume in the subsurface.
Traditional methods monitor the CO2 from the surface and can be costly due to long-term…
Sercel has won a second major contract to supply land seismic equipment to a leading seismic acquisition contractor for a 3D mega-crew survey in Saudi Arabia.
It has also won a smaller contract to equip a 2D survey to be conducted by the same contractor. These two new contracts closely follow the recently announced award to Sercel of a similar large-scale contract to equip a separate Saudi 3D mega-crew survey.
The new 3D contract includes a Sercel…