Dale

‘Regulatory reform will enhance resources investment’

15/12/2020 Posted by Dale

A new Productivity Commission report has highlighted that better and more streamlined regulation of Australia’s resources sector will help support future investment and build community trust in the sector.

The Resources Sector Regulation report said there is considerable scope to improve regulatory processes and reduce unnecessary burdens to support investment into resources without having adverse impacts on the environment, heritage, worker safety, landowners and communities.

In welcoming the report, APPEA Chief Executive Andrew McConville said the report has some important recommendations that should be adopted by government to help streamline regulation, reduce duplication and unnecessary costs – all of which will be critical to help further improve the investment environment.

CO2CRC commences CO2 injection at the Otway International Test Centre

15/12/2020 Posted by Dale

CO2CRC has announced that the CO2 injection for the Otway Stage 3 Project has successfully commenced.

CO2CRC’s Otway Stage 3 Project trials next generation subsurface monitoring and verification (M&V) technologies to reduce the costs for monitoring in industrial applications.

CO2 storage projects require M&V to understand movement of the injected CO₂ plume in the subsurface.

Traditional methods monitor the CO2 from the surface and can be costly due to long-term planning and their interaction with farming or marine industries.

Sercel wins second Saudi Mega-Crew Equipment Contract

15/12/2020 Posted by Dale

Sercel has won a second major contract to supply land seismic equipment to a leading seismic acquisition contractor for a 3D mega-crew survey in Saudi Arabia.

It has also won a smaller contract to equip a 2D survey to be conducted by the same contractor. These two new contracts closely follow the recently announced award to Sercel of a similar large-scale contract to equip a separate Saudi 3D mega-crew survey.

The new 3D contract includes a Sercel 508XT seismic acquisition system of over 60,000 channels equipped with strings of SG-10 geophones, and a fleet of over 30 Nomad 65 Neo all-terrain vibrator trucks with a full VE464 advanced vibrator electronics package.

Blue skies brighten after Queensland North Bowen Basin gas-supply agreement

06/12/2020 Posted by Dale

Blue Energy shares surged over 57% after announcing a 10-year Queensland gas supply deal with Energy Australia.

The agreement is for annual deliveries of 10PJ and on the ASX BLU stock climbed to 8.8 cents on news of the deal, before settling at 8.2 cents at close on Friday.

Blue’s Managing Director, John Phillips, said: “This is the first such agreement that will allow North Bowen Basin gas to be delivered into the main East Coast domestic market to the south from Moranbah”

“It is a foundation volume that will contribute to the underpinning of the proposed...

GECF says gas has a bright future in a recovering COVID planet

06/12/2020 Posted by Dale

Natural gas embodies all the attributes required to achieve the multidimensional challenges of environmental protection, energy access, and affordability in a world stepping onto the road of recovery, the Gas Exporting Countries Forum Secretary General Yury Sentyurin said at the 7th IEF-IGU Ministerial Gas Forum, hosted virtually by the Government of Malaysia.

“As the world reaches the end of the pandemic tunnel, it will need an energy partner that can help prevent environmental degradation, ensure a stable and uninterrupted supply of energy, and bring affordable and reliable energy for all. Natural gas is that partner,” said HE Sentyurin.

“The GECF Member Countries are amongst the lowest cost producers globally and are able to weather the current storm – or any other. W

Minister endorses oil and gas sector in Queensland

06/12/2020 Posted by Dale

Queensland’s new Minister for Resources Scott Stewart’s strong endorsement of the importance, contribution and economic benefits of the oil and gas industry has been welcomed by APPEA.

In a speech to Parliament recently, Minister Stewart said the industry continued to do “the heavy lifting with gas production, for the domestic and export markets” and “gas is an essential part of Queensland’s economy and will continue to be so in the future.”

APPEA Queensland Director Georgy Mayo said the industry – which is a major economic driver for the state -- welcomed this ongoing support.

“The oil and...

Katalyst Data Management releases Subsurface Data Search Engine for Oil and Gas Industry

06/12/2020 Posted by Dale

Katalyst Data Management has launched a new subsurface data search engine, powered by Elasticsearch, in the latest release of their iGlass data management solution.

The new release, named iGlass Portal ES, gives oil and gas companies the ability to use freestyle text searches on their seismic and well data volumes. This release marks the first time that Elasticsearch technology has been applied to an E&P subsurface data management solution.

Similar to search technology used for online shopping and searching, iGlass Portal ES harnesses the power of Elasticsearch, allowing users to search the entirety of their subsurface catalogue with a simple textual search.

CGG wins three-year contract extension for Dedicated Processing Centre in Oman

01/12/2020 Posted by Dale

CGG has been awarded a three-year contract extension by Petroleum Development Oman to continue providing advanced land seismic imaging services at its dedicated processing centre in Muscat. The new contract will run from 1 January 2022 until 31 December 2024.

PDO operates a concession in Oman that covers almost one third of the country’s land surface area. This makes the DPC a critical proving ground for deploying new technology and workflows that can meet the highly variable imaging requirements of PDO’s exploration and production activities.

With this contract extension, CGG said its specialists would continue to implement their latest proprietary algorithms to bring step-changes in the imaging of the ever-growing volumes of land data, characterized by complex near-surface conditions and strong multiples.

PGS launches ‘Scheme of Arrangement’ to implement financing transaction

01/12/2020 Posted by Dale

PGS has launched a scheme of arrangement in England via the issuance of a practice statement letter to the lenders under its ~$350 million revolving credit facility and ~$522 million term loan B facility.

PGS said it was proposing the scheme in order to implement the financing transaction announced on October 21, 2020 as contemplated in the Lock-Up Agreement dated October 21, 2020.

“As of the date of this announcement, lenders representing 95.4% by value of debt and 99.5% by number of the RCF/TLB Facility have entered into the Lock-up Agreement and thereby agreed to support the Transaction,” PGS said.

‘Accelerated Discovery Initiative’ opening new exploration frontiers in SA

01/12/2020 Posted by Dale

South Australia is calling on mineral exploration companies to submit innovative proposals to Round Two of the Accelerated Discovery Initiative.

Minister for Energy and Mining Dan van Holst Pellekaan said the second round of the globally recognised initiative will provide $4.5 million to partner with explorers undertaking frontier exploration projects across South Australia.

“Following the success of round 1, the State Government has increased funding of round 2 to help re-ignite the South Australian Exploration sector in the wake of the COVID pandemic.

“The South Australian Government recognises the importance of a successful and sustained exploration sector in meeting the government’s objective of growing resource exports.