Geological models are used to help with our geo-predictions up and down dip. We usually only have a few one-dimensional control points (wells) and a seismic grid to predict reservoirs, seals and source in our acreage. Seismic is often used only structurally, and if stratigraphy is contemplated, it is often via a few simplistic amplitude extractions. The latter many a time do not show anything stratigraphically useful, and we have to” go down a few burrows”.
One of the burrows is...
Rick Wilkinson, editor of new report released by independent energy consultancy EnergyQuest, West Coast Gas Outlook 2024 – Calm before the storm?, shows that WA’s domestic gas market is likely to see significant supply shortfalls from 2029 onwards.
The West Coast Gas Outlook 2024 shows the WA Government didn’t need to make major changes to its Domestic Gas Policy to ensure sufficient domestic gas supply over the next four years, but we are in the calm before the storm and...
“Fast escalating geopolitical risk is driving oil prices higher.
The intensifying conflict in the Middle East is generating significant supply concern in the global crude market, with prices up more than 4% (in the first week of October).
The potential for supply disruptions – particularly, but not exclusively from Iran – increases as the fighting intensifies.
But OPEC+ still sits on unusually ample spare capacity, which is the result of successive production cuts over the...
Chevron is closing in on a$53 billion merger with Hesss ...subject to Arbitration
U.S energy giant Chevron and Hess Corporation, have sidelined the Federal Trade Commission (FTC) antitrust review in spite of moves for˙Hess’s Chief Executive Officer (CEO) to join the oil major’s board on the basis of his previous connection with global competitors such as OPEC.
An ongoing arbitration process initiated by Hess’ Stabroek block partners have overlapped issue with the assets off...
For OPEC, it is a great honour to launch the World Oil Outlook (WOO) 2024 in Brazil. The country’s comprehensive and inclusive approach to energy issues has been on display through its G20 presidency in 2024, and will no doubt be central to its hosting of COP30 in 2025. This stance is fully in line with OPEC’s development of its WOO, as well as the Charter of Cooperation between OPEC and participating non-OPEC countries, a voluntary framework for dialogue and a platform for...
New Fortress Energy,s’s first Fast LNG (FLNG) asset, FLNG 1 – comprising three repurposed jack-up rigs off the coast of Altamira – has had its first full LNG cargo fully loaded onto the Energos Princess, which setsail for Europe. This comes less than two months after completing the first cargo load and sail operation.
“This is a significant milestone for our Fast LNG installation. Natural gas and power supply are critical components of a sustainable, affordable, and cleaner...
The Bayu-Undan Joint Venture (BUJV) participants and TIMOR GAP have executed a Sale and Purchase Deed (SPD) to transfer a 16 per cent interest in the Bayu-Undan upstream project to TIMOR GAP, with an economic date of 1 July 2024. Completion of the SPD is subject to customary closing conditions.
Under the terms of the SPD, TIMOR GAP participates in the BUJV for the remainder of the economic life of production. As previously announced, the Production Sharing Contract (PSC) for Bayu-Undan...
The Australian Resources & Energy Employer Association (AREEA) was pleased to announce
that ExxonMobil Australia President Simon Younger has joined its Board of Directors.
Mr Younger is vastly experienced in the oil and gas sector.
After graduating as an engineer and starting his career with Esso Australia in 1997, he has held a variety of roles with ExxonMobil affiliates in Australia, the United States, Qatar and Nigeria.
In 2020, Mr Younger became Senior Vice President Upstream for Canada’s...
The SA/NT PESA Branch President, Dr John Kaldi was recently awarded the Sidney
Powers Award by the American Association of Petroleum Geologists (AAPG) at the
2024 IMAGE meeting in Houston.
PESA is an affiliate of AAPG. The SidneyPowers Memorial Award is given "…in recognition of distinguished and outstanding contributions to, or achievements in, petroleum geology".
It is AAPG’s most distinguished award and the award's previous recipients reads like
a "who's who" of geo-legends,...
Victoria’s proposal to phase out some gas appliances in existing connected homes and businesses ignores the fundamentals of the energy transition and robs consumers of choice and competition.
Australia’s oil and gas industry today welcomed news that homes and businesses would not have to replace popular gas stovetops with electrical appliances under the state’s net zero road map.
However, the sector has called for the State Government to reverse a new edict forcing residents and...