Archives for March 2021

March 2021

Bentley Systems Enters into US$1 Billion Agreement to Acquire Seequent

16/03/2021 Posted by Dale

Infrastructure engineering software company Bentley Systems has entered into an agreement with investors, led by Accel-KKR, to acquire software for geological and modelling company Seequent for US$900 million in cash, plus 3,141,361 BSY Class B shares.

The acquisition is subject to customary closing conditions and regulatory approvals, including New Zealand Overseas Investment Act consent as well as clearance under the Hart-Scott-Rodino Antitrust Improvements Act.

Upon closing, Seequent will operate as a stand-alone Bentley subsidiary, with Seequent’s current Chief Operating Officer Graham Grant, succeeding its retiring CEO Shaun Maloney, reporting to Bentley’s Chief Product Officer Nicholas Cumins.

Seequent,...

Sercel Equips 3D Mega-Crew Survey in North Africa

16/03/2021 Posted by Dale

Sercel has announced that its “high-performance” equipment is being deployed on another 3D megacrew survey by a major North African geophysical company.

Sercel said the crew is operating with an 80,000-channel 508XT land acquisition system, complete with QuietSeis® digital sensors, and ten Nomad 90 Neo broadband vibrators in challenging desert terrain, but did not say which country activities were occurring in.

Sercel described its equipment as seamlessly integrated into the digital version of the 508XT, QuietSeis, the industry’s most advanced third-generation MEMS sensor, ensuring optimum data accuracy and stability.

“With its outstanding low-noise performance, it detects the weakest signals in a very large frequency bandwidth.

CGG Announces Q4 and Full Year 2020 Results

09/03/2021 Posted by Dale

CGG has released a solid operational performance in its fourth quarter results and positive net cash flow sustained by gradual recovery from COVID-19.

Commenting on the company’s full year and fourth quarter results, CGG CEO Sophie Zurquiyah said:

“In the particularly challenging year of 2020, which saw the collapse of the oil & gas market across the second and third quarters, we finished the year with solid fourth quarter operational performance. During 2020, we successfully completed our exit from the Acquisition business while continuing to advance our high-end Geoscience technologies for reservoir development and production.

“We also delivered our Multi-client surveys in the industry’s core mature sedimentary basins and released new products while reinforcing our market leadership in equipment. O

Resources technology roadmap builds Australia’s competitive advantage

09/03/2021 Posted by Dale

APPEA has welcomed the launch of the Resources Technology & Critical Minerals Processing National Manufacturing roadmap as a key priority under the Federal Government’s $1.5 billion Modern Manufacturing Strategy.

APPEA’s Chief Executive, Andrew McConville, a member of the industry-led taskforce that guided the development of the Resources Technology & Critical Minerals Processing roadmap, commended the Government’s consultation with industry and action to build Australia’s advanced manufacturing capability in resources technology.

“The Resources Technology & Critical Minerals Processing National Manufacturing roadmap recognises and builds on Australia’s world-class expertise and competitive advantage in the resources and energy sectors.”

“Australia has world-class resources, such as oil and gas and critical minerals which drive the modern global economy.

Shearwater announces offshore survey awards in Australia and Angola

09/03/2021 Posted by Dale

Shearwater Geoservices has announced the award of a 3D seismic survey in the Otway Basin and a 4D survey in Angola by Total.

“We see a solid, consistent level of activity in Australia where we have multiple projects booked in 2021”, said Irene Waage Basili, CEO of Shearwater. “We observe increasing regional demand for our vessels equipped with high-end technology, which is reflected in backlog and utilization.”

The approximately two-month survey is expected to commence in Q3 2021 covering an estimated 2,700 sqkm, employing the Geo Coral using a multisensor streamer system with a variable streamer spacing configuration.

Off Angola the two-month project will be on the GJDR Development area of Block 17, commencing in Q1 2021.

Western Gas and APA to study transcontinental pipeline plan

02/03/2021 Posted by Dale

Western Gas, Operator and 100% owner of the Equus Gas Project, has signed an MOU with APA Group to undertake a joint development and marketing study to supply Equus gas at competitive prices to Western Australia and the East Coast via a transcontinental pipeline.

The scope of the study comprises a detailed assessment of development, commercial, marketing and regulatory aspects of the project, which will form the basis of an integrated bankable feasibility study.

The study is a key step in delivering a new and independent gas supply for Western Australia and East Coast gas customers.

The Australian owned upstream and pipeline projects would support long-term domestic energy needs, create new jobs, drive significant economic and social benefits, and increase national energy security.

Europe’s oil & gas industry saw a rise of 23.73% in cross border deal activity in Q4 2020

02/03/2021 Posted by Dale

Led by PPG Industries’ $1.52bn acquisition of Tikkurila, Europe’s oil & gas industry saw a rise of 23.73% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 73 cross border deals worth $7.58bn were announced for the region during Q4 2020, against the last four-quarter average of 59 deals.

Of all the deal types, M&A saw most activity in Q4 2020 with 69, representing an 94.5% share for the region.

In second place was private equity with four deals capturing a 5.

GECF lecture lights up natural gas for its “vital role in energy transition”

02/03/2021 Posted by Dale

Natural gas has a very important role to play in the energy transition and in meeting the world’s climate goals, the Secretary General of the International Energy Forum, HE Joseph McMonigle, said.

Speaking at the inaugural GECF Gas Lecture of 2021, entitled ‘The Role of Gas in Clean, Reliable, and Sustainable Growth’, HE McMonigle said that the success of the energy transition rests “on the use of natural gas technologies and their capacity to accelerate fuel-switching and create synergies to integrate renewables, green gas, hydrogen, and other carbon dioxide solutions.

“Obviously, this does not come without challenges...

CO2CRC launches technical advisory and consultancy services company

02/03/2021 Posted by Dale

CO2CRC’s Chief Executive, David Byers, has announced that CO2CRC has established a wholly-owned subsidiary company, CO2Tech Pty Ltd (‘CO2Tech’).

“We have established CO2Tech to meet the growing customer need for multi-disciplinary technical consultation, advisory and project management services across the whole CCUS value chain.” said Mr Byers.

CO2Tech will have access to the Otway International Test Centre (OITC) and CO2CRC’s expertise via commercial agreements.

“CO2Tech will allow CO2CRC Limited to offer our industry partners and customers, tailored solutions while preserving commercial confidentiality.

“CO2Tech will be pleased to work with industry customers to help them achieve their emissions...