Company Updates

Shell Deepwater Selects Bentley’s iTwin Platform for Project Delivery

27/10/2020 Posted by Dale

Bentley Systems has announced that Shell’s Deepwater business has selected Bentley’s digital twin approach to streamline its capital projects process and accelerate time to first oil.

Bentley said that with a plan to deliver several subsea tie-back projects over the next 10 years, Shell Deepwater Projects has recognized a significant opportunity to accelerate capital project delivery and cut project delivery time by implementing an integrated digital project and engineering environment. The solution spans project conception in the early phase design through to handover.

“Shell Deepwater Projects is developing an integrated Workflow and Data Platform from system selection to asset handover to streamline our capital projects processes and accelerate time to first oil,” said GT Ju, General Manager Gulf of Mexico Deepwater Projects. “

INPEX signs up for DUG McCloud

27/10/2020 Posted by Dale

DUG Technology has signed a deal with Japanese energy company INPEX to provide HPC cycles and software using DUG McCloud.

DUG Technology Managing Director Matt Lamont said the INPEX collaboration had the potential to lead to the DUG McCloud platform being used for other INPEX projects as part of a long-term relationship.

INPEX tested the platform at DUG’s headquarters in Houston before signing the contract.

“We know that once prospective clients try the software, test the algorithms and use the platform, the inherent benefits become obvious,” Dr Lamont said.

“The momentum continues to build around our High-Performance Computing as a Service business, with several companies evaluating the benefits DUG McCloud can provide.

Katalyst Data Management Launches Katalyst 360 Data Analytics Platform

17/10/2020 Posted by Dale

Katalyst Data Management has announced the launch of their new Katalyst 360 data analytics platform for the oil and gas industry.

Katalyst said This self-service data analytics environment “provides a 360-degree view of how subsurface data assets are being utilized within an organization. Katalyst 360 greatly expands the utility of Katalyst’s data management solutions, giving oil and gas companies the ability to gain greater insight into their valuable subsurface data assets.”

Katalyst 360 features analytics dashboards that are synchronized to an oil and gas company’s subsurface data.

Senex’s $30 million Roma North expansion set to create 50 construction jobs

15/10/2020 Posted by Dale

Senex has taken a Final Investment Decision to increase its gas production near Roma, in south-west Queensland, by 50 per cent.

About 50 construction jobs are set to be created and more than $30 million will be invested in expansion of the natural gas processing facility at the Roma North development, drilling of wells and construction of supporting infrastructure. The expansion is expected to be finished within the next year.

The announcement comes after Senex said last month it was set to create 100 construction jobs and support hundreds of manufacturing roles after winning a competitive tender for gas acreage that will expand its successful Atlas domestic gas project 50 per cent.

CGG’S Smart Data Solutions business wins data management contracts

15/10/2020 Posted by Dale

CGG Geoscience has announced that its Smart Data Solutions (SDS) business group has recently been awarded data management contracts representing a total backlog of about $10 million. Given the current industry context, these awards reflect the continued high priority that clients have on digitalizing and thus enhancing the value of their legacy data.

The most significant contract is for a global framework agreement signed with a major international energy company that provides for the digitization and multi-year storage of its legacy data and procurement of services related to understanding and extracting the maximum value from this asset.

PGS cautiously upbeat about post COVID-19 “trough”

10/10/2020 Posted by Dale

PGS expects to report Segment* revenues for Q3 2020 of approximately $115 million. Contract revenues ended at approximately $9 million. MultiClient pre-funding revenues were approximately $52 million, from a capitalized MultiClient cash investment of approximately $57 million. MultiClient late sales were approximately $26 million.

Q3 2020 revenues include approximately $23 million of government grants related to the Covid-19 pandemic. The government grants are recorded as Other revenues.

“A majority of our active vessel capacity was allocated to MultiClient in Q3. The market remains challenging, but we believe this quarter represents the trough of this Covid-19 driven downturn.

CGG Geosoftware launches interactive well path planning technology

02/10/2020 Posted by Dale

CGG GeoSoftware has launched WellPath, a new interactive 3D well path planning solution for optimal well planning in unconventional and fractured reservoirs and offshore development platforms, as part of its InsightEarth® 3D visualization and interpretation software suite.

CGG said that WellPath shows the complexity of the subsurface drilling environment in 3D so that drillers can quickly plan and QC horizontal wells on high-density, multi-lateral pads or large offshore platforms. Drilling engineers now have the power to perform interactive directional well path planning while adhering to the constraints of geological targets and engineering design.

Senex to boost jobs from acreage win

29/09/2020 Posted by Dale

Senex Energy is set to create 100 jobs and support hundreds of manufacturing roles after winning a competitive tender for gas acreage that will expand its successful Atlas domestic gas project.

The Queensland natural gas company has also announced that it has a supply agreement with the sustainable lube-oil recycling firm Northern Oil Refinery in Gladstone, on Queensland’s central coast. The agreement supports more than 30 jobs at the refinery and hundreds more at collection depots around Queensland.

Senex said it had created 250 construction jobs and invested $400 million in the company’s Atlas and Roma North projects in the Surat Basin during the past 18 months, benefiting more than 50 businesses in the region.

CGG’s fast-track data from Basin-Wide Gippsland 3D Survey supports Australia’s Acreage Release

29/09/2020 Posted by Dale

CGG has announced delivery of fast-track results from its recently acquired 3D multi-client seismic survey of the Gippsland Basin and says the broadband data will enable informed decisions when bidding on blocks in this prolific, hydrocarbon-producing area.

This industry-first basin-wide survey over ~8,700 sq km was successfully completed in July 2020 and has strong industry support with significant prefunding. It represents Phase II in CGG’s Gippsland ReGeneration reprocessing and acquisition project. Blocks V20-3 and V20-4 in the newly released Australian acreage are covered by the project.

CGG said that historically, imaging the Gippsland Basin’s shelf break and numerous submarine channels has proven extremely challenging.

PGS gets extended lifeline from lenders

29/09/2020 Posted by Dale

PGS ASA has reached an important milestone in discussions with its lenders. The company has come to an agreement in principle on main terms with the negotiation teams of the finance parties under its ~$300 million export credit facilities (“ECF”), and a majority of the lenders under its $350 million revolving credit facility (“RCF”) and ~$520 million term loan B facility (“TLB”).

PGS said the agreement in principle remains subject to lenders’ internal approvals and agreement on final documentation.