Dale

Quantum goes deeper

11/08/2020 Posted by Dale

Experts in quantum cold-atom sensors are delving deep underground in a new project aimed at harnessing quantum gravity sensing technology in harsh underground borehole environments.

The Gravity Delve project, funded by Innovate UK, brings together academics from the UK Quantum Technology Hub Sensors and Timing, which is led by the University of Birmingham and Nemein Ltd, with the aim of investigating the benefits and challenges associated with using quantum gravity sensors down boreholes.

Quantum gravity sensors based on atom interferometry are already being developed for use in the oil and gas sector.

International report confirms the role of gas in a cleaner energy future

11/08/2020 Posted by Dale

The International Gas Union’s (IGU) Global Gas Report 2020 release has found that after a year of strong growth in 2019 and a year of COVID-19 related challenges in 2020, the global gas industry is set to play a vital role in economic recovery and in a cleaner energy future.

The report finds technology and innovation can play key roles as countries, including Australia, look to significantly reduce their greenhouse gas emissions. Technologies such as biomethane, hydrogen and gas with carbon capture and storage can all play a key role in emissions reduction.

APPEA Chief Executive Andrew McConville said:

NERA and CO2CRC partner in emissions reduction and energy stimulation project

04/08/2020 Posted by Dale

National Energy Resources Australia (NERA) and CO2CRC have announced an industry-led project to reduce emissions and unlock Australia’s energy potential through long-term carbon capture, utilisation and storage solution.

NERA and CO2CRC described the initiative as “a new landmark study into carbon capture, utilisation and storage (CCUS) to assist the nation’s energy resources sector reduce CO₂ emissions while securing Australia’s energy future”.

The study is being undertaken in two phases.

Chevron targets Gorgon Train 2 restart for September

04/08/2020 Posted by Dale

Chevron is aiming to bring the second train at its Gorgon LNG plant back online in September after it found “weld quality issues” within the propane heat exchangers and shut down the facility on May 23 as part of a planned maintenance schedule.

The global supermajor said repairs were being carried out at the plant on Barrow Island and the company had targeted the early part of September for a restart.

This comes after the Australian Manufacturing Workers Union had called for the 15.6 mtpa plant to be shut down, citing safety concerns.

The union claimed that cracks up to a metre long had been found on eight exchangers.

AEMO outlines vital role for natural gas says APPEA

04/08/2020 Posted by Dale

APPEA has welcomed the Australian Energy Market Operator’s Integrated System Plan (ISP) for identifying the critical role of gas-fired power generators, while highlighting that the total amount of gas-fired power generation will increase as coal capacity retires from 2030.

“Gas-fired power generation is incredibly important for the National Electricity Market and Australia’s future electricity supply,” APGA CEO Steve Davies said.

“As we saw during the recent record-breaking summer, gas-fired power generation can be relied on to dispatch electricity when and where it is needed, each and every day.”

Mr Davies said on 40-degree days, gas-fired power generation frequently provided more than 70 per cent of South Australia’s electricity supply and up to 25 per cent of total supply in the NEM.

Noble Energy acquisition puts Chevron on pole for revitalised gas demand

28/07/2020 Posted by Dale

Chevron’s $13 billion acquisition of Noble Energy has been interpreted as a long-term punt for a natural gas future.

Adrian Lara, senior 0il & gas analyst at data and analytics company GlobalData, said of the transaction: “Since the crash of oil price and demand in March 2020, there has been an increasing expectation for mergers and acquisition (M&A) activity to show existing opportunities despite the depressed economic cycle.

“Chevron’s US$13bn acquisition of Noble Energy, including debt, is indeed the largest in 2020 and has an international diversification component, in both resource type and geography, which confirms that, besides healthy balance sheets, the most resilient companies during the pandemic have shown flexibility thanks to diversified portfolios.

Eni confirms gas and condensate discovery offshore Vietnam

28/07/2020 Posted by Dale

Eni has announced a significant hydrocarbon discovery on the Ken Bau discovery in Block 114, Song Hong Basin, offshore Vietnam.

The Italian oil and gas company said the exploration well Ken Bau-2X was drilled two km apart from the discovery well in 95m of water depth to a total depth of 3658m and encountered pay in excess of 110m in several intervals of Miocene sandstones interbedded with shale.

Eni said two mini drill stem tests (DST) were conducted, coupled with an extensive data acquisition campaign comprising fluid sampling.

FAR says Sangomar for sale sign has piqued suitors

28/07/2020 Posted by Dale

Cairn Energy has agreed to sell its 40% stake in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore contract area to Russia’s Lukoil for a cash consideration of up to $400 million, in addition to reimbursement of capital expenditure incurred since January.

Completion of the sale is expected to be finalised in the fourth quarter of 2020 and Cairn said it will return at least $250 to shareholders.

This come after FAR Limited said it had received a “good level of interest” for the sale of its 15% stake in the $4.

MOL makes 13th discovery in Pakistan

21/07/2020 Posted by Dale

MOL has made a new gas and condensate discovery, the company’s 13th discovery in Pakistan and the 10th in the TAL Block. 

The Budapest headquartered oil and gas company said that the Mamikhel South-1 exploratory well successfully reached a total depth of 4,939m on 23 May 2020. Upon testing the well flowed gas and condensate from the Lockhart & Hangu formation at a flow rate of 6516 boepd (16.12 MMscf/d and 3240 bpd respectively), with flowing well-head pressure of 4,476 PSI at 32/64” choke. Further testing of the well is ongoing.  

MOL has been operating in Pakistan’s upstream sector for 21 years and holds equity stakes in four blocks in the country.

Senex shares surge on Surat Basin success

20/07/2020 Posted by Dale

Senex Energy Ltd (ASX: SXY) has successfully delivered a major upgrade in gas reserves which the company says builds a foundation for established and continued growth in production, earnings and cashflow.

Senex’s share price on the ASX was trading at 28c at close on 20 July, up 12% from a week earlier on and 115% up from its six-month low of 13c in the latter part of March.

In it’s June quarterly report Senex announce the following highlights:

• Fourth quarter FY20 production up 20% to 711 kboe with Surat Basin gas production up 43% to 518 kboe and Roma North facility de-bottlenecking achieving to >18 TJ/day.