MOL Group has signed a Memorandum of Understanding with Turkish Petroleum Corporation in Istanbul to cooperate as strategic partners in the exploration and production of hydrocarbons. The companies agreed to elevate their cooperation to a new level after successful international joint projects to potential partnership in exploration in Türkiye and further potential projects in other regions.Under the Memorandum of Understanding (MoU), MOL Group and Turkish Petroleum have expressed their intention to jointly provide their experience, technical and commercial knowledge, advanced techniques and financial resources.
Dale
From Russia with Oil … As Yet
By Eugene Kharkutov and Ellen Starostina
The history, current state and prospects of development of the Russian oil market and its world impact are considered and analysed. The author uses methods of systematic and comparative analysis in the context of the global, and Mideast oil industry. The main conclusions of the article are that, despite the imposed sanctions, the highly motorized market of Russia performs so far quite well and will adapt a wider use of domestically produced natural gas. Though it has shrunk, Russian oil exports have shifted from the usual Western destinations to the East.
Source: https://www. morethanshipping.com [2]
Figure 1.
PESA Horstman Federal Postgraduate Scholarship Winner’s Circle
Federal Programs and Scholarships Sub-Committee
By Bonnie Lowe-Young
As part of PESA’s ongoing program to foster and encourage subsurface energy geoscience research and education in Australia, PESA has annually offered Federal Postgraduate Scholarships to support PhD or Masters students undertaking geoscience research relevant to the exploration, development or production of energy resources in Australia.
Editorial Correction: Searcher acquires new 3D seismic in the Gulf of Papua
Contrary to information that has been incorrectly published recently in PESA News, reporting the new acquisition of seismic data in offshore Papua New Guinea (PNG) by Shearwater, the Nanamarope Non-Exclusive 3D Marine Seismic Survey was actually acquired by Searcher, utilising PXGEO's Seismic Research Vessel (SRV) PXGEO 2. The survey was acquired between May and June 2023, with final processing deliverables released in March 2024.
The acquisition of the Nanamarope survey adds to Searcher's vast multi-disciplinary geotechnical database in PNG, which includes over 80,000 km of 2D new acquisition and reprocessing, 3,500 sqkm of 3D new acquisition and reprocessing, as well as 60,000 sqkm of Airborne Gravity Gradiometry & Magnetics data and a Geochemical survey covering offshore PNG (Figure 1).
Viridien selected to support technology-driven mineral exploration program in Oman
Viridien has been awarded a comprehensive remote sensing program by Minerals Development Oman (MDO),in the Sultanate of Oman, to identify, map and rank mineralization prospectivity potential across seven concessions, covering a total area of 16,000 km².
Following a series of remote sensing programs conducted to support mineral exploration initiatives, Viridien said it was now pleased to aid the strategic development of Oman's mineral resources led by MDO.
Viridien's multi-disciplinary team of experts will use machine learning, high-performance computing, advanced processing algorithms and archives of multi- and hyperspectral satellite imagery to create their innovative Bare Earth Plus models.
PESA women eligible for Leadership Scholarships
Partial scholarships are up for grabsfor women in the Energy and Utilities Industry ranging from $1,000 to $6,000per person, for one of four leadership and workplace skill development programs.
These scholarships are aimed at encouraging more women to increase their impact at work, progress their career, and step into leadership roles.
Registrations of interest close on Friday 29 November 2024. Via our website: https://www.wla.edu.au/industry/energy/
Tamboran Declares 2024 ‘one for the memoirs’
Tamboran has reflected on four key milestones as it charts its course towards future gas supplies to the eastern states, Asia and the Northern Territory.
The ASX and NYSE-listed explorer revealed:
That the year to June 2024 was one in which Tamboran kicked key goals by:
Via the company’s successful IPO on the NYSE Tamboran had also:
Plugging the gap: global EV charging infrastructure Needs to Grow more than 500% by 2030
Key markets in the electric vehicle (EV) transition are falling behind in their stated goals for public charging infrastructure, according to latest figures on World EV Day™.
The data reveals that the US, Europe and the UK are more than six times behind the number of plugs needed to meet growing EV demand by 2030. The US, the world’s second-largest EV market, has under 200,000 publicly available charging ports*, with over one million more needed by 2030, according to McKinsey**, representing a 550% increase. Europe needs a 5.
Shale project economics still reign supreme as cost of new oil production rises further
The cost of developing new upstream oil projects is continuing to rise as inflationary pressure and supply chain woes endure. New research from Rystad Energy shows that the average breakeven cost of a non-OPEC oil project grew to $47 per barrel of Brent crude, a 5% increase in the last year alone. Despite rising costs, breakevens are still less than current oil prices.
Offshore deepwater and tight oil projects remain the most economical new supply sources, with oil sands still the most expensive.
Why It’s “Time for the Oil and Gas Industry to Get Serious About Methane Management”
In this article, Dr. Neil Bird, Chief Scientist at Fluenta, has provided commentary on the new Bureau of Land Management rule targeting methane management in the oil and gas industry. He highlights the need for operators to adopt advanced technologies like ultrasonic meters to stay compliant, reduce emissions, and prepare for increased scrutiny with the upcoming MethaneSat data.
"As the oil and gas industry grapples with the recent Bureau of Land Management rule change, it’s clear that we’re entering a new era of accountability, especially when it comes to managing methane emissions.