Archives for May 2024

May 2024

Australian carbon storage hub a $600 billion opportunity: Wood Mackenzie

25/05/2024 Posted by Dale

Australia could unlock up to $600 billion in revenue by creating a carbon capture and storage (CCS) industry and becoming a storage hub for the Asia-Pacific region, according to a leading global energy research firm, Wood Mackenzie.

In an article published in the 2024 Australian Energy Producers Journal, Wood Mackenzie emphasised that Australia’s CCS opportunity is rooted in facilitating other countries’ net zero ambitions.

According to the article, Australia has far higher geological CO2 storage potential than it needs to store emissions from its power generation and industrial sectors from 2030 to 2050.

Meanwhile, Australia’s key trading partners such as Japan and South Korea have limited opportunities to store all their emissions domestically and are looking for regional storage sites to support their net zero goals.

PGS advances seismic data interpretation capability through collaboration agreement with Austin-based Onward

25/05/2024 Posted by Dale

PGS has announced a collaboration that facilitates on-demand data interpretation provided by Onward, which leverages Onward's technical capabilities to enhance PGS' existing MultiClient and Data OnDemand services and accelerate interpretation workflows.

The collaboration between Onward and PGS gives subscribers of PGS' OnDemand services the option to access Onward's interpretation services and unlock the subsurface potential of extensive seismic data sets. PGS subscribers that engage Onward's additional services will have access to Onward’s global community of geoscience and data science experts who leverage industry-leading analysis tools in a cloud-based environment (subject to certain conditions).

Australian Energy Producers Chief Executive Samantha McCulloch closing address to the 2024 Conference & Exhibition

25/05/2024 Posted by Dale

What a fantastic week it has been.

Full of compelling, informative and thought-provoking presentations and conversations.

Congratulations to all our award recipient, too. There is some outstanding work being done across our industry, and it’s great to acknowledge and celebrate it.

As our 2024 conference comes to close, we have much to reflect on, and much to be proud of.

I have been encouraged to see this week, throughout the conference – in the plenary sessions, the technical presentations, the conversations on the exhibition floor – that the optimism I have for the future of our industry is shared by so many of you.

CGG Changes Name to Viridien

18/05/2024 Posted by Dale

At the Annual General Meeting on May 15, 2024, shareholders approved the resolution to change the company’s corporate name from CGG to Viridien.

Sophie Zurquiyah, CEO, Viridien, said: “Our new name, Viridien, connects our company’s history to our future, confidently positioning us for accelerated growth as an Advanced Technology, Digital and Earth Data Company.”

To further support its growth strategy, the company will launch the new Viridien brand on 10th June at the upcoming EAGE Annual Conference in Oslo, further strengthening its focus across a portfolio of solutions including the Core businesses of Geoscience, Earth Data and Sensing & Monitoring, as well as new offerings in both the Low Carbon markets of Minerals & Mining and CCS, and markets beyond energy in High-Performance Computing (HPC) and Infrastructure Monitoring.

Australian Natural Hydrogen Conference – the call for Papers Goes Out

12/05/2024 Posted by Dale

The Australian Natural Hydrogen Conference will take place at the Adelaide Hills Convention Centre from October 29-31 and organisers are calling for papers to enrich the narrative about this fast emerging and fascinating energy source.

Natural hydrogen is emerging as potentially one of the most abundant and cost-effective forms of hydrogen and has a key role in the world’s drive to carbon zero.

Australia has been one of the early movers and recent discoveries here have led to important understanding by innovative thinkers – and the Australian Natural Hydrogen Association (NH2A) wants to ensure that knowledge is widely shared.

CGG Launches AI Cloud Solution Powered by NVIDIA for Optimized AI and HPC Workloads

12/05/2024 Posted by Dale

CGG has announced the launch of its AI Cloud solution designed to meet the needs of data-intensive industries - including life sciences, digital media, manufacturing and geoscience - that seek to optimize and accelerate their demanding and resource-heavy AI workloads.

CGG’s new AI Cloud solution combines the latest high-performance architecture, including cutting-edge NVIDIA H100 Tensor Core GPUs fully configured and optimized for AI fine-tuning and inference, with a pre-installed software environment that can be tailored for each client.

Future Gas Strategy ‘confirms critical role of gas in Australia’s energy security’

12/05/2024 Posted by Dale

The Australian Government’s Future Gas Strategy recognises the critical role of natural gas for Australia’s energy security in a net zero economy to 2050 and beyond, and that continued investment in new gas supply is needed.

This was the joyous reaction of Australian Energy Producers Chief Executive Samantha McCulloch who said the Strategy, announced last week, should now provide clear direction on national energy policy that supports the central role of gas in the economy and Australia’s energy transformation.

“The Future Gas Strategy sends a clear message that gas has a critical long-term role in Australia’s energy mix to provide reliable and affordable energy to homes and businesses and drive domestic manufacturing to 2050 and beyond,” Ms McCulloch said.

PGS Goes Hydrocarbon Hunting in West Africa

12/05/2024 Posted by Dale

PGS has been awarded a 4D contract in West Africa for an international energy company.

Mobilization is scheduled for early September and the contract has a total duration of approximately 65 days, with an option to extend.

“We are very pleased with this contract award, securing visibility for another of our vessels well into the fourth quarter. After completion of scheduled acquisitions programs during the Northern Europe summer season we will steam a vessel to West Africa to commence this contract.

"By combining the Ramform acquisition platform with our proprietary multi-sensor GeoStreamer technology we will provide the client with high-quality 4D seismic data,” says Rune Olav Pedersen, President & CEO in PGS.