Karoon Gas has stepped into the development and production phase for the Echidna and Kangaroo light oil fields off Brazil, as a direct result of approval from the country’s regulator for the fields’ Declaration of Commerciality. The Kangaroo and Echidna discoveries are located in the Santos Basin for which Karoon has received ANP approval of the Final Discovery Evaluation Report (RFAD) for wholly owned Santos Blocks S-M-1037, S-M-1101, S-M-1102, S-M-1165 and S-M-1166 along with a Declaration of Commerciality (DoC).
Dale
Safehouse Habitats acquires ESPRAT group of companies
Perth-based Safehouse Habitats and its UK-based parent, Starn Group, have successfully completed the acquisition of the ESPRAT group of companies based in Australia and Malaysia. Safehouse said this latest expansion would extend the existing Starn footprint in these territories and strengthens its position in the region by providing a platform to further develop the Malaysian market for Safehouse habitats, and to provide the gas detection and related services of another Starn business, Sabre Safety Services.
Osaka Gas signs Taiwan LNG receiving terminal deals
OSAKA, Japan - Osaka Gas Engineering Co., Ltd. (OGE), a subsidiary of Osaka Gas Co., Ltd. (Osaka Gas) has entered into an agreement to provide consulting services for the construction of LNG receiving terminals on behalf of CPC Corporation, Taiwan (CPC) and Taiwan Power Co., Ltd. (TPC) respectively.
CGG GeoConsulting Launches Robertson New Ventures Suite to Accelerate Exploration Efforts
CGG GeoConsulting has launched the Robertson New Ventures Suite, an integrated and digitally transformed family of exploration-focused geoscience tools and databases that the company says will offer clients a “competitive edge in global new ventures screening and frontier exploration”. The six core products of the Robertson New Ventures Suite are Basins & Plays, Geochemistry, Plate Kinematics, Predictions, Provenance and Analogues.
East coast gas prices could rise 30 percent in five years
Wood Mackenzie forecasts Australia's East Coast gas prices to rise up to 30 percent to between A$10 and A$13 /per gigajoule by the mid-2020s. The company concluded from a recent study that it was no surprise gas prices in the East Coast have jumped up over the last three years, a situation driven primarily by declining cheap gas supply from the Cooper Basin and offshore Victoria. New gas supply sources are also proving far more expensive to develop than the cheap legacy supply sources that have maintained Australian gas supply for decades.
Dr Fraser Bransby appointed Fugro geotechnics chair at UWA
Dr Fraser Bransby has been appointed Fugro chair in geotechnics at the University of Western Australia’s Oceans Graduate School. Dr Bransby has worked across academia and industry, most recently at Fugro AG Pty Ltd. After obtaining his PhD in soil mechanics from the University of Cambridge, he spent time in university geotechnical research and in industrial consultancy before joining Fugro. Having established the Fugro chair in geotechnics in 2014, UWA and Fugro developed a sustainable research group that is significant to Fugro’s activities worldwide.
ADNOC announces US$45 Billion investment to become leading lobal Downstream Player
The Abu Dhabi National Oil Company (ADNOC) has unveiled plans to invest US$45 billion with partners over the next five years to become a leading global downstream player. The plans were unveiled at the ADNOC Downstream Investment Forum, which took place today in Abu Dhabi, UAE. The event brought together more than 40 CEOs and 800 senior business leaders from the global oil and gas, energy, petrochemical and finance industries, as well as many other sectors.
CGG Launches new MotionMap UK National Ground Stability Database
CGG’s NPA Satellite Mapping group has unveiled its new MotionMap UK product for companies involved in asset management, large engineering projects, property conveyancing, insurance disputes and risk management. In a media release CGG said the UK’s geological setting, mining legacy and engineering heritage has led to substantial changes above and below ground. From subsidence and heave across coal fields in the Midlands, to tunnelling-related ground settlement in London, the impact on the landscape is “extensive yet relatively unknown and extremely challenging to map”.
$46.3bn will be spent on Southeast Asia’s upstream capex by 2020
An average capital expenditure (capex) of $17.8bn per year will be spent on 336 oil and gas fields in Southeast Asia between 2018 and 2020, according to GlobalData, a leading data and analytics company. Capex on Southeast Asia’s traditional oil projects will add up to $8.3bn over the three-year period, while heavy oil fields will require $1.7bn over the same period. Investments into gas projects in Southeast Asia will total $43.4bn in upstream capex by 2020. Jonathan Markham, Oil & Gas Analyst at GlobalData said, “Shallow water projects will be responsible for over 63 percent of $46.
BP Commits to Sell Gas to Alaska LNG Project
The Alaska LNG Project has reached a "historic milestone" as BP Alaska and Alaska Gasline Development Corporation (AGDC) announced the parties have agreed to key terms of a Gas Sales Agreement, including price and volume. The terms are captured in a Gas Sales Precedent Agreement which was signed on May 4, 2018. In a statement Alaska Gas Development Corporation said both the parties anticipate finalizing a long-term gas sales agreement in 2018 for AGDC to purchase BP Alaska’s share of 30 trillion cubic feet (TCF) of gas from the Prudhoe Bay and Point Thomson units.