Archives for February 2021

February 2021

Gippsland Basin leads in 3D Oil’s crosshairs

23/02/2021 Posted by Dale

3D Oil has flagged four potential leads with a best estimate prospective resources of 370 MMboe in the Gippsland Basin.

This follows completion of an estimate of prospective resources for leads and prospects in the VIC/P74 exploration permit.

3D Oil said the largest is the Bigfin Lead, which is hosted within the Lower Latrobe Group and has a Best Estimate Prospective Resource of 502 Bcf and 19 MMbbls of condensate. Bigfin is located approximately 8km West of the Kingfish Oil Field which has produced over one billion barrels to date.

An additional three Leads also hosted by the Lower Latrobe Group have a total Best Estimate Prospective Resource of 785 Bcf gas.

Woodside signs LNG supply deal with RWE

23/02/2021 Posted by Dale

Woodside has penned a deal to supply LNG to RWE Supply & Trading GmbH (RWE) for seven years from 2025.

The company announced that the quantity would be approximately 0.84 million tonnes per annum and was not subject to final investment decision on any project.

Woodside Executive Vice President Development and Marketing Meg O’Neill said the signing of the deal was further evidence of the strong market demand for LNG in the second half of this decade.

“Customers are increasingly seeking to secure new energy supplies in a timeframe which supports the development of our Scarborough offshore gas resource and the expansion of the Pluto facility with the addition of a second LNG production train.

US Gulf Coast storm outages rise, send ripples round global markets

23/02/2021 Posted by Dale

Will Beacham, of ICIS Chemical Business, says the US polar storm shut down 90% of US polypropylene (PP) capacity, 67% of ethylene and devastated other important products, sending ripples around global chemical markets and prices soaring.

More chemical plants and refineries across the Gulf Coast region have been hit by prolonged power and feedstock outages caused by freezing weather, snow and ice which have also halted logistics networks. More bad weather, forecast for later in the week, may prolong the disruption.

So far, ICIS has reported more than 60 plant outages as a result of the storm, with analysis using data from the ICIS Supply & Demand database showing that a wide swathe of the Gulf petrochemical sector has now been severely impacted.

Shearwater awarded Norwegian Sea OBS 4D survey by Aker BP

23/02/2021 Posted by Dale

Shearwater GeoServices has announced the award of an ocean bottom seismic (OBS) 4D survey by Aker BP at the Ivar Aasen field in the Norwegian North Sea.

“This is a welcome return to the Ivar Aasen field for Aker BP with Qseabed,” said Irene Waage Basili, CEO of Shearwater GeoServices.

“Shearwater is established in all segments of high-end offshore seismic, executing our clients’ projects with the technologies of their choice, including market leading solutions for ocean bottom seismic.”

The survey will commence in Q2 2021 and will employ Shearwater’s multi-purpose vessels the SW Cook and SW Tasman, using proprietary technology.

APPEA congratulates new Federal Shadow Ministers

15/02/2021 Posted by Dale

APPEA has congratulated Madeleine King and Chris Bowen on their recent appointments as part of the Federal Opposition’s ministerial reshuffle.

APPEA Chief Executive Andrew McConville said the industry looked forward to continuing to work collaboratively with the shadow ministers and the Opposition to ensure the safe and sustainable development of Australia’s oil and gas resources.

The appointment of Ms King to the important resources portfolio, in addition to her existing role as Shadow Minister for Trade, is recognition of the critical role Australia’s resources make to the economy.

“Our natural resources play a vital role and contribution in underpinning our economic well-being with hundreds of thousands of Australian jobs relying on a safe, reliable and affordable natural gas supply,” Mr McConville said.

Searcher expands into mining sector with QLD airborne survey

15/02/2021 Posted by Dale

Oil and gas geoscience company Searcher has expanded into the mining sector with the completion of an airborne exploration survey in Queensland.

The new airborne magnetic and radiometric geophysical survey was acquired on behalf of Longreach in the latter’s exploration permit (EPM27423), located approximately 40 km northeast of Clermont, Queensland. The survey covers 387 square kilometres and includes 8,770km of data acquisition lines.

Searcher were contracted by Longreach to assist with project management.

Shearwater GeoServices awarded two WA multisensor 3D surveys

15/02/2021 Posted by Dale

Shearwater GeoServices has announced the award of two 3D surveys in offshore Western Australia.

“Shearwater has extensive experience operating offshore Australia and we are delighted to strengthen our position with new work in this active region. We look forward to leveraging one of Shearwater’s advanced multisensor equipped vessels to support our client in achieving their objectives”, said Irene Waage Basili, CEO of Shearwater.

The three-month campaign comprises more than 3,200 sqkm and is expected to commence in Q2 2021, employing the Geo Coral using her multisensor streamer system with a zero-offset configuration.

The announcement of this work coincides with Shearwater’s decision to open a processing and imaging centre in Perth to serve Australian and Asia-Pacific clients.

Sercel strengthens land seismic acquisition system in India

15/02/2021 Posted by Dale

Sercel has significantly increased the market position of its 508XT land seismic acquisition system in India.

The system is currently being deployed by over 30 crews, representing a total of over 110,000 508XT channels countrywide and making it clearly the system of choice in India.

Sercel said that based on its cutting-edge and unique cross-technology (X-Tech®) architecture, the 508XT land seismic acquisition system enables automatic data re-routing and local storage for seamless and uninterrupted operations with a highly flexible and robust system that adapts to the toughest terrain and weather conditions and meets all 2D/3D land seismic project requirements.

Ashutosh Kumar, CEO, Asian Energy, said: “By choosing Sercel’s 508XT, we have ensured we are using the best technology to meet our final customers’ expectations. We ha

Carbon neutral or Green LNG? GECF looks at the options

05/02/2021 Posted by Dale

Dr Hussein Moghaddam, Senior Energy Forecast Analyst Energy Economics and Forecasting Department, says demand for Green LNG is growing and has the potential to preserve natural gas as a crucial part of the energy mix.

According to the latest, 2020 edition of the GECF Global Gas Outlook 2050, the demand for natural gas is expected to rise by 50% from 3,950 billion cubic metres (bcm) in 2019 to 5,920 bcm in 2050, as gas remains the cleanest-burning hydrocarbon.

In spite of that, meeting global targets for climate change mitigation is one of the biggest challenges.

PGS completes coverage of the emerging plays of the outboard Campos Basin.

04/02/2021 Posted by Dale

The Norwegian surveyor said the survey provided the first 3D seismic for Brazil’s 17th Round, scheduled for October 2021 with fast-track anisotropic PSDM products for the additional acreage set to be available in July.

The Ramform Titan began towing the largest spread ever offshore Brazil in June 2020 and returned to Campos in December. The acquisition configuration, with 14 streamers each 10 km long, is “tailored to the challenges of the Campos area”.

The vessel and its “exceptional equipment spread” maximize subsurface illumination and minimize environmental impact, acquiring the targeted coverage faster.

PGS said Ramform Titan will continue in the area on the “next phase of this exciting Multiclient program, which will deliver multi-azimuth illumination (MAZ) of presalt targets.