Company Updates

CGG and Geoptic sign collaboration deal for CCS monitoring

01/06/2021 Posted by Dale

CGG has signed an R&D collaboration agreement with Geoptic to jointly research and assess a novel borehole solution for monitoring the spread of CO2 in subsurface storage sites for Carbon Capture & Storage (CCS).

The agreement focuses on developing a new version of Geoptic’s DIABLO muon tracking tool specifically for CCS applications. Geoptic deploys DIABLO as part of its pioneering use of cosmic ray muons to passively and non-intrusively image the internal structure of objects.

It has already gained award-winning experience in deploying muon technologies for subsurface surveys, such as its innovative imaging through the overburden of railway tunnels.

PGS joins forces with JEX to flex muscles in West Cameron

22/05/2021 Posted by Dale

PGS and Joseph Exploration (JEX) have announced a technical collaboration in the West Cameron protraction area, Gulf of Mexico, USA.

Under the agreement, PGS will provide seismic data from the MultiClient 3D Flex Trend dataset for prospect development work to be undertaken by JEX. The prospect development work will benefit from collaboration between PGS processing and imaging experts and the JEX technical team.

The study area in West Cameron is a subset of the PGS Flex Trend dataset which was acquired between 1993 and 1999 comprising of 21 individual surveys and covering 32,930km² across the US shelf and shelf break.

Shearwater awarded large 3D and 4D programs by Petrobras

17/05/2021 Posted by Dale

Shearwater GeoServices has been awarded a 4D monitoring contract for towed streamer seismic acquisition in the Campos Basin offshore Brazil.

The 3D and 4D programs will be conducted over 9-months by the SW Empress, over the Marlim, Albacora, and Voador fields, starting late in the second quarter of 2021, Shearwater said.

4D time-lapse seismic monitoring is a key reservoir management tool and Shearwater described itself as a “technology and market leader in 4D towed streamer and ocean bottom seismic acquisition”.

“Brazil has one of the most advanced programs of deepwater 4D seismic monitoring for reservoir management.

CSIRO signs on for DUG McCloud

17/05/2021 Posted by Dale

High-performance computing technology company DUG Technology has signed an agreement with CSIRO Information Management and Technology to provide high-performance computing and storage using DUG McCloud.

In addition, under a separate agreement, DUG will also provide CSIRO with support, training and enablement utilising DUG’s team of HPC specialists, assisting CSIRO to maximise success on DUG McCloud.

The HPC and storage agreement is for a term of 24 months with an anticipated revenue of approximately AU$700,000 (ex GST). The agreement for HPC training, support and enablement is for a term of 15 months with an anticipated revenue of approximately AU$555,000 (ex GST).

Energy Networks welcomes hydrogen boost

10/05/2021 Posted by Dale

Energy Networks Australia (ENA) has welcomed the Morrison Government’s funding commitment that will see three large scale hydrogen plants built in Western Australia and Victoria.

ENA Chief Executive Officer Andrew Dillon said the funding boost showed the federal government’s commitment to a clean energy future in Australia.

“New energy sources such as hydrogen need to be deployed if Australia is to reach net zero emissions and investing in these technologies is a step towards achieving that goal,” he said.

“Investment in Australia’s emerging hydrogen industry is vital to continue the work transitioning to a clean energy future.

CGG Delivers 9,300km² of Data from Agata Reimaging to Support Brazil’s Bidding Round

02/05/2021 Posted by Dale

CGG has announced delivery of the fast-track data from its Agata Reimaging program over the Agata block in the Santos Basin, a highly prolific area of Brazil’s offshore pre-salt.

The ultramodern reimaged seismic data set covering over 9,300km² will provide valuable information to oil and gas companies wishing to evaluate acreage and assess the potential of the Agata block, prior to Brazil’s upcoming 7th Production Sharing Bidding Round.

The Agata prospect is composed of ultra-deep pre-salt targets located below a highly deformed salt layer.

Shearwater GeoServices acquires Polarcus’ assets

30/04/2021 Posted by Dale

Shearwater GeoServices has announced two transactions to take over marine seismic acquisition assets previously owned by Polarcus, from Tiger Moth AS, a company affiliated with Woodstreet Inc.

Shearwater said it had acquired streamers and related seismic equipment for a total cash consideration of USD 50 million. The company also purchased six seismic acquisition vessels for a total consideration of US$127.5 million.

The transactions are financed through a new vessel loan facility provided by DNB and GIEK of US$107.

Melbana sells Beehive to US heavyweight EOG Resources

28/04/2021 Posted by Dale

Melbana Energy has concluded a sale and purchase agreement (SPA) with Houston-based Fortune 500 company EOG Resources to sell its WA-488-P permit which comprises the Beehive prospect.

The deals marks EOG Resources first venture in Australia after a sale that was conducted by Melbana subsidiary Finniss Offshore Exploration and EOG’s Australian arm.

Beehive, located in around 40 metres of depth, is one of the largest undrilled hydrocarbon prospects in Australia with prospective resources ranging from 416MMboe to 1.4 billion boe.

Senex boosts production, announces first-ever dividend

27/04/2021 Posted by Dale

Senex Energy has announced that third-quarter natural gas production increased by 8% in the third quarter of 2020.

The Brisbane-based gas producer said that its total production was up to 4.6 PJ during this period and peak production reached nameplate capacity in the Surat Basin of 52 TJ/day (~19 PJ/year).

This put Senex in a buoyant net cash position of $36 million at the end of the quarter and in a position to announce inaugural dividends.

Managing Director Ian Davies commented: “Senex continued its quality operational and financial performance from our high-growth, low-risk natural gas assets, growing production and declaring a dividend for the first time.

CGG and dCarbonX Sign Strategic Agreement for Decarbonisation Exploration

27/04/2021 Posted by Dale

CGG has signed a strategic agreement to support dCarbonX in the subsurface assessment of its operated clean energy projects offshore Ireland and the UK (which include geothermal energy and storage sites for CO2, hydrogen and ammonia). Such projects are critical in the ongoing energy transition from fossil fuels to renewable energy systems.

CGG brings its integrated geoscience solutions to help identify and de-risk subsurface storage, sequestration and geothermal energy sites utilizing its proprietary expertise in geological, geophysical, engineering, modelling and monitoring technologies, including instrumentation from Sercel, its equipment division.

dCarbonX is pioneering offshore decarbonisation exploration as a new, innovative, and sustainable enabler of the energy transition.