Dale

Global gas demand ‘delivers opportunities for Australia’

19/11/2019 Posted by Dale

Global demand for natural gas will increase over the next 20 years, providing a major economic opportunity for Australia, according to the International Energy Agency (IEA).

APPEA Chief Executive Andrew McConville said the IEA’s World Energy Outlook highlighted the reality that the growing natural gas industry was essential for a cleaner energy future.

“Demand for natural gas is expected to increase 36 per cent by 2040, with gas providing a quarter of global energy demand, the IEA’s Stated Policies Scenario* shows,” Mr McConville said. “Gas will become the second largest source of global energy after oil.”

Liquefied natural gas (LNG) exports will overtake pipeline gas as the main form of long-distance trading, accounting for more than 57 per cent of inter-regional trade by 2040, the IEA report said.

PESA WA November Evening Talk

12/11/2019 Posted by Dale

Andrew Pitchford, GM Subsurface and Phil Woods, Senior Geophysicist from Western Gas presented their latest findings of the Sasanof Prospect in block WA-519-P, to a sell out crowd at The George in the CBD. The Mentorc Gas discovery by HESS Australia (now Western Gas) opened up the Barrow Delta Topset stratigraphic play to more exploration in the Northern Carnarvon Basin. Mentorc, up to 30% porosity and 12 Darcy permeability, is fill to spill and Sasanof may be where all the spilling gas is going to.

The current p50 estimations after recent inversion studies from DUG, have Sasanof at 24Tcf with a high PoS.

Saudi Aramco IPO should be ‘judged on its impact not its valuation’

12/11/2019 Posted by Dale

Following the recent news that Saudi Arabia’s national oil company Saudi Aramco will issue its prospectus to potential investors in its initial public offering (IPO); Colin Foreman, Deputy Editor at data and analytics company, GlobalData, provided his view:

“The public sale of shares in the world’s biggest oil exporter will be the first time since the 1970s that private and foreign investors will have been able to own a stake in the Gulf’s upstream oil and gas assets.

“The IPO is a cornerstone play in Riyadh’s Vision 2030 economic reform programme, launched in April 2016, which seeks to diversify Saudi Arabia’s oil-dominated economy and increase the role of the private sector by driving growth and job creation.

Bass Oil nodding donkey onshore Indonesia Fields

Bunian-5 oil production delivers “excellent” flow results for Bass

12/11/2019 Posted by Dale

Australia’s Bass Oil Limited has announced that the Bunian 5 well commenced production testing from the TRM 3 sandstone, one of the two productive oil reservoirs in the well.

The well averaged 1128 barrels of oil per day with a two percent water cut. Production was recorded on a fully open choke with a flowing wellhead pressure of 140 psi in the first 12 hours, commencing on 2 November 2019. The well has been choked back for the next phase of the testing program.

Woodside awards new Pluto-to-North West Shelf pipeline project to AGIG

12/11/2019 Posted by Dale

Australian Gas Infrastructure Group (AGIG) – a leading national provider and operator of key energy infrastructure – has been awarded a significant new Western Australian project by Woodside for the pipeline component of its Pluto-North West Shelf (NWS) Interconnector.

A new 30-inch diameter pipeline will run 3.2 kilometres, connecting the Woodside-operated Pluto LNG Plant to the NWS Project’s Karratha Gas Plant (KGP), and is the first component of the infrastructure needed to transport gas between the two facilities.

Under the contract entered into with Woodside, AGIG will design, construct and operate the new pipeline in addition to three facilities including:

Iran’s giant oil discovery brings “little material benefit” under sanctions

11/11/2019 Posted by Dale

The discovery of a massive oil field in Iran will deliver little in the way of tangible spin-offs for the second largest country in the Middle East, according to international analysis of the discovery.

The discovery made world headlines recently, but according to data and analytics company, GlobalData, the country is facing challenges reaping the full-benefits of the yield.

Will Scargill, Managing Analyst, Oil and Gas at GlobalData, commented: “Limits on investment and exports due to sanctions mean that the exploration successes at the Namavaran field can’t translate into material benefit.

“Iran already has a large number of projects holding billions of barrels of resources that it cannot fully-realize, and this just adds to that list.

PESA SA/NT Geology of Wine Field Trip – September 2019

08/11/2019 Posted by Dale

By Dr. Simon BrealeyAs is becoming traditional, stalwart devotees of the terroir of the McLaren Vale Wine Region (yes, it’s a bona fide appellation) gathered under a darkening sky in late September to receive the wisdom and tasting notes of Professor Alan Collins of Adelaide University.

Picking up stragglers as we headed south on the 40-minute drive we examined the beautifully-produced geological maps kindly provided by the Dept. Mines (or whatever they were called last week) and met old friends and new.

First stop was on Chapel Hill Road to examine the staggeringly profound unconformity between the Umberatana Group (circa 650 million years old) and the Pleistocene Pirramimma Sandstone of the Seaford Formation (born yesterday).

Matt Canavan Minister of Resources Northern Australia

Matt Canavan lauds NT survey as a potential gamebreaker

05/11/2019 Posted by Dale

Minister for Resources and Northern Australia, Matt Canavan, has welcomed a new seismic survey probing for gas and mineral resources in the Northern Territory’s Barkly region.

The 820km survey is in an area where little exploration has previously taken place and is being hailed as a potential ‘missing link’ between Mt. Isa and the Betaloo sub-basin.

Mr Canavan described the Beetaloo as a sub-basin with potential to deliver 178,000 Petajoules of shale gas, a bigger basket than any conventional gas resources on the North West Shelf.

“It’s exciting to have a region that could promise the same potential resources,” Mr Canavan said.

Polarcus set for West Africa seismic project

04/11/2019 Posted by Dale

Polarcus has continued its offshore West African safari by announcing another 4D marine seismic acquisition project in the region.

The seismic service provider said the project duration would be approximately two months and is scheduled to start in the fourth quarter of 2019, after a scheduled class docking.

Polarcus did not provide further details about the project and had worked on a seismic project in the same area offshore West Africa earlier this year.

TGS starts Midnight survey and reveals go to plans for Malvinas

04/11/2019 Posted by Dale

On the same day last week that TGS announced the commencement of its Midnight 3D seismic survey to “further solidify its core position in the Inga/Fireweed area” of British Columbia, Canada, the seismic services provider revealed it would also conduct a new 3D multi-client project offshore Argentina.

The Norwegian company said the British Columbia survey merges into TGS’ existing onshore Canadian seismic data coverage in the condensate region of the Montney basin and straddles a large area where drilling activity is incentivized by deep-well royalty credit.

When completed and processed by TGS, the Midnight 3D project will result in 168km²of high-quality 3D seismic data.