PGS ASA has reached an important milestone in discussions with its lenders. The company has come to an agreement in principle on main terms with the negotiation teams of the finance parties under its ~$300 million export credit facilities (“ECF”), and a majority of the lenders under its $350 million revolving credit facility (“RCF”) and ~$520 million term loan B facility (“TLB”).
PGS said the agreement in principle remains subject to lenders’ internal approvals and...
APPEA says the recently released Resources and Energy Quarterly September 2020 confirms the ongoing critical role resources exports will play in supporting the recovery of the Australian economy as it emerges from the COVID-19 global pandemic.
According to the Department of Industry, Science, Energy and Resources, the value of Australia’s resources and energy exports set a record of $290 billion in 2019-20. Liquefied natural gas (LNG) exports have more than doubled over the last few...
The Australian Government has outlined key steps to help grow Australia’s oil and gas industry, APPEA has said in response to support to develop strategic gas basins in the eastern states.
“The announcement is a good first step to reinvigorate Australia’s oil and gas industry, which will be important to help power Australia’s economic recovery,” said APPEA Chief Executive Andrew McConville.
“Reliable and competitively priced energy is crucial to the health of our...
Airborne gravity surveys are preparing to be flown across large regions of Victoria.
The airborne surveys are being collaboratively organised through Geological Survey of Victoria within the Department of Jobs, Precincts and Regions (DJPR), Surveyor-General Victoria within the Department of Environment Land Water and Planning (DELWP) and Geoscience Australia (Commonwealth Government).
The Department of Environment, Land, Water and Planning said the objective of the project is to...
Shearwater GeoServices Holding has announced the award of a large towed streamer 3D seismic survey for Block 52, offshore Suriname by PETRONAS Suriname in an Americas regions the company is focusing on.
The four-month project is scheduled to commence in Q4, 2020.
“This new survey in Suriname comes at an exciting time for this area,” said Irene Waage Basili, the Chief Executive Officer of Shearwater. “We look forward to working together with PSEPBV, an affiliate of PETRONAS...
Marine geophysical company PGS ASA revealed in its Q2 and preliminary first half 2020 results presentation that it was in negotiations with its lenders to preserve liquidity in light of the dramatic negative market change caused by the Covid-19 pandemic.
The company said these negotiations are in an advanced stage, constructive and carried out with the support of the lenders under its ~$300 million export credit facilities, the lenders under its $350 million revolving credit facility and...
MAN Energy Solutions has completed the installation and commissioning of the Origin Energy-operated Talinga Orana gas gathering station.
Located 30km southwest of Chinchilla, the dual train Talinga Orana Gas Gathering Station is vital for continued sustainability of Australia Pacific LNG’s upstream asset portfolio and its ability to bring gas to market.
The station allows Origin to optimise CSG production, specifically from the Orana and Talinga gas fields in...
PGS and Ocean Floor Geophysics have signed an agreement under which OFG has acquired the exclusive rights to use the hardware, software and intellectual property associated with the PGS towed streamer CSEM system. PGS receives shares in OFG as settlement for the transaction.
The towed-streamer CSEM technology developed by PGS is a state-of-the-art system that allows for the acquisition of high-quality marine CSEM data in a fast and efficient manner. The system complements existing CSEM...
Australia’s oil and gas industry has paid tribute to Dr Anthony Lynham following his decision to retire from politics at the upcoming Queensland election.
APPEA Chief Executive Andrew McConville applauded Dr Lynham for his outstanding leadership, distinguished parliamentary career and commitment to growing the resources sector.
“The industry applauds Dr Lynham’s achievements in helping to grow the oil and gas sector to create jobs and investment and for always being...
Woodside has entered into a binding sale and purchase agreement to acquire Cairn’s entire participating interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture.
Australia's largest independent energy company announced that while the sale was subject to regular approval from the Senegal government and Cairn shareholders, the company had exercised its pre-emptive rights and completion was targeted for the fourth quarter of this year.
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