Company Updates

Blue Energy and Origin sign new long term gas supply deal

Blue Energy Limited has announced that it has executed a non-binding Heads of Agreement (HOA) with Origin Energy Limited for the supply of up 300 PJ of gas at Wallumbilla over 10 years from Blue Energy’s Northern Bowen Basin ATP814 coal seam gas tenure.

This is the second such HOA executed by Blue Energy which facilitates North Bowen Basin gas to be delivered into the main East Coast domestic market to the south from Moranbah.

In early December Blue Energy and EnergyAustralia signed a similar agreement for the delivery of 100 PJ of gas from the North Bowen basin into Wallumbilla.

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CGG was recently informed of a cybersecurity incident on a server hosting Accellion software.

The company said the vulnerability that had exploited Accellion’s secure file transfer application (FTA), before they could find a corrective patch, was originally discovered in another Accellion customer environment.

At CGG, Accellion’s FTA was used on a separate server, isolated from production IT infrastructure.

“This standalone server had limited use within CGG and was not used to transfer or store personal or commercial sensitive information. There has been no operational or financial impact,” CGG said

CGG said it takes information security very seriously and will thoroughly investigate the incident in collaboration with Accellion and CGG’s external security partners, to document full details, and identify any potential areas to further reduce future risks.

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CGG has released a solid operational performance in its fourth quarter results and positive net cash flow sustained by gradual recovery from COVID-19.

Commenting on the company’s full year and fourth quarter results, CGG CEO Sophie Zurquiyah said:

“In the particularly challenging year of 2020, which saw the collapse of the oil & gas market across the second and third quarters, we finished the year with solid fourth quarter operational performance. During 2020, we successfully completed  our exit from the Acquisition business while continuing to advance our high-end Geoscience technologies for reservoir development and production.

“We also delivered our Multi-client surveys in the industry’s core mature sedimentary basins and released new products while reinforcing our market leadership in equipment. O

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Western Gas, Operator and 100% owner of the Equus Gas Project, has signed an MOU with APA Group to undertake a joint development and marketing study to supply Equus gas at competitive prices to Western Australia and the East Coast via a transcontinental pipeline.

The scope of the study comprises a detailed assessment of development, commercial, marketing and regulatory aspects of the project, which will form the basis of an integrated bankable feasibility study.

The study is a key step in delivering a new and independent gas supply for Western Australia and East Coast gas customers.

The Australian owned upstream and pipeline projects would support long-term domestic energy needs, create new jobs, drive significant economic and social benefits, and increase national energy security.

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CO2CRC’s Chief Executive, David Byers, has announced that CO2CRC has established a wholly-owned subsidiary company, CO2Tech Pty Ltd (‘CO2Tech’).

“We have established CO2Tech to meet the growing customer need for multi-disciplinary technical consultation, advisory and project management services across the whole CCUS value chain.” said Mr Byers.

CO2Tech will have access to the Otway International Test Centre (OITC) and CO2CRC’s expertise via commercial agreements.

“CO2Tech will allow CO2CRC Limited to offer our industry partners and customers, tailored solutions while preserving commercial confidentiality.

“CO2Tech will be pleased to work with industry customers to help them achieve their emissions...

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3D Oil has flagged four potential leads with a best estimate prospective resources of 370 MMboe in the Gippsland Basin.

This follows completion of an estimate of prospective resources for leads and prospects in the VIC/P74 exploration permit.

3D Oil said the largest is the Bigfin Lead, which is hosted within the Lower Latrobe Group and has a Best Estimate Prospective Resource of 502 Bcf and 19 MMbbls of condensate. Bigfin is located approximately 8km West of the Kingfish Oil Field which has produced over one billion barrels to date.

An additional three Leads also hosted by the Lower Latrobe Group have a total Best Estimate Prospective Resource of 785 Bcf gas.

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Woodside has penned a deal to supply LNG to RWE Supply & Trading GmbH (RWE) for seven years from 2025.

The company announced that the quantity would be approximately 0.84 million tonnes per annum and was not subject to final investment decision on any project.

Woodside Executive Vice President Development and Marketing Meg O’Neill said the signing of the deal was further evidence of the strong market demand for LNG in the second half of this decade.

“Customers are increasingly seeking to secure new energy supplies in a timeframe which supports the development of our Scarborough offshore gas resource and the expansion of the Pluto facility with the addition of a second LNG production train.

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