Company Updates

BP wins deadlines extension for big Bight plan

15/07/2016 by Dale Granger

NOPSEMA has granted BP an extension to lodge a third and final environmental plan to drill the Stromlo-1 well in the Great Australian Bight. The submission is now expected to be lodged by August 31 and BP now faces a race against time to begin drilling the Stromlo-1 well in the calmer seas of summer following assessment of the supermajor’s game plan and safeguards by the offshore regulator. BP’s plan will have to be watertight as the $1 billion exploration program it hopes to expedite...

Woodside goes on African safari in Senegal.

14/07/2016 by Dale Granger

Woodside has bought ConocoPhillips’ exploration stake in Senegal, acquiring a 35% stake in the SNE and FAN deepwater oil discoveries and the option of becoming operator, for US$430 million. The deal gives the Perth-based company exposure to a potential 560 million bbl oil discovery, which Woodside appears to have picked up for a significant discount at about US$2.30 per barrel to the US$7 per barrel valuation of RBC Capital Markets. Melbourne-based FAR Energy, which holds a 15% stake in...

BP invests in Bunker facility for Bight program

11/07/2016 by Dale Granger

BRITISH Petroleum has signalled its commitment to Australia by announcing a multi-million dollar investment in infrastructure establishing a new fuel bunkering facility in Port Adelaide’s inner harbour. BP and Flinders Ports said the $8 million facility would support operations for BP’s planned $1 billion Great Australian Bight program which, subject to approval will see the first two wells drilled from late 2016, by providing safe, efficient and simultaneous refuelling of vessels and...

CGG wins prestigious award in Paris

27/06/2016 by Dale Granger

CGG Processing Manager Singapore, Joe Zhou, has won the EAGE 2016 Guido Bonarelli Award in recognition of the best oral presentation for his paper entitled ‘Unlocking the full potential of broadband data with advanced processing technology, a case study from NWS Australia’. The paper was co-authored with Peter Chia from Shell Australia and Jingyu Li, Henry Ng, Sergey Birdus, Keat Huat Teng, Phan Ying Peng, Jason Sun and He Yi from CGG and presented during the 77th EAGE Conference &...