Company Updates

Santos GLNG cargo

Santos and GLNG partners deliver another 15PJ into domgas market

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Santos and its GLNG partners have signd an agreement to deliver 15 petajoules of gas from its export portfolio into the Australian east coast domestic market in 2018. Santos holds a 30 per cent interest in GLNG. The Adelaide-based producer said 15 PJ of gas represented approximately 2 per cent of expected 2018 domestic demand and was enough to cover half of any shortfall that might arise under the ACCC’s high demand case for next year. Origin has agreed to purchase this gas from GLNG...

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Flow testing imminent at Po Valley’s new Italian gas well

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A new Italian gas production well for Australia’s Po Valley Energy Limited is to be flow tested this month after being successfully cased for production. Po Valley announced that it had successfully cased, perforated and completed the Podere Maiar 1dir exploration well on the Selva gas field within the Podere Gallina Exploration licence in Northern Italy. Perforations of a total of 11m were executed successfully on two identified gas reservoirs C1 and C2 in the Medium Upper Pliocene...

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W&T hits a duster in Gulf of Mexico exploration well

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W&T Offshore’s ST 224#1 exploration well has failed to find hydrocarbons in the Gulf of Mexico offshore the United States. W&T’s partner in the project, Otto Energy, said the well had been drilled to a total measured depth of 3,322 meters. Otto said the targeted BN sand interval was intersected close to prognosis at 3,149 meters measured depth, however based on log observations the sand is considered to be water bearing, Otto said. The well will now be plugged and...

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WA gas report warns of declining exploration consequences

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An independent review of Western Australia’s gas market highlights the urgent need for more exploration to secure future supply. The Australian Energy Market Operator’s annual WA Gas Statement of Opportunity (GSOO), released recently, warns of a gas shortage in the west if new supply is not developed in the next five to seven years. The report shows exploration in WA in 2017 was at its lowest level since 1990. APPEA Chief Operating Officer WA Steadman Ellis said there was an...

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Polarcus gets permission for seismic survey in Australia

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Polarcus has secured significant industry prefunding and has been granted the environmental permit for a broadband 3D marine seismic project in Australia. Polarcus did not provide details on the project, but the Australian offshore safety regulator NOPSEMA has revealed that the project is called the Zénaïde 3D. NOPSEMA recently accepted the environment plan for the project, a three-dimensional multi-client marine seismic survey to be undertaken in Commonwealth waters located...

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CNOOC hits gas in Bohai Bay

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China’s CNOOC has announced a mid-sized natural gas field discovery, Bozhong 19-6 in Bohai Bay, offshore China. The company said Bozhong 19-6 trap was located in the southwest sag of Bozhong south central Bohai, in average water depths of about 22 meters. The discovery well Bozhong 19-6-1 was drilled and completed at a depth of 4,181 meters and encountered oil pay zones with a total thickness of approximately 25 meters and a gas reservoir with a total thickness of about 348...

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Po Valley toasts Podere Majar well in Italy

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Positive log results have been announced by Australian ASX-listed natural gas company, Po Valley Energy Limited, from the drilling of its Podere Maiar 1dir (“PM1”) well in the Selva Gas Field in northern Italy’s Podere Gallina licence area. It will now be completed as a production well. PM1 was successfully drilled to a total depth of 1,330 metres in the Pliocene ahead of schedule and on budget. Downhole log results from Schlumberger confirm a gross gas pay of 53m. The top of...

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AWE rejects China takeover woos

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AWE Limited has resisted a proposal from China Energy Reserve and Chemical Group for the acquisition of 100% of its shares. AWE revealed that the unsolicited, non-binding, indicative, and conditional offer came from China Energy Reserve and Chemical Group’s (CERCG) Australian subsidiary. The company said China’s state-owned CERCG wanted to acquire 100% of its shares on a fully diluted basis, at a price of $0.71 cash per share under either a recommended takeover bid or a scheme of...

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OGA releases free UK offshore seismic data

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The Oil and Gas Authority in the United Kingdom has released the $35 million government-funded seismic data to promote exploration in under-explored areas of the UK and the North Sea. The datasets, now available to industry and academia, will support the next Offshore Licensing Round, set to open in mid-2018, and contains 19,000km of newly acquired broadband seismic data, new gravity and magnetic surveys, approximately 23,000km of reprocessed legacy seismic data and a rejuvenated set of...

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Global Petroleum extends license offshore Namibia and seeks farm-in partner

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Brisbane-based Global Petroleum has been granted an extension by the Namibian Ministry of Mines and Energy for its license offshore in the Walvis Basin and entered into second renewal period. Global, via subsidiary Jupiter Petroleum, holds an 85% participating interest in Petroleum Exploration Licence No. 0029, encompassing offshore blocks 1910B and 2010A located in the Walvis Basin. Global Petroleum’s subsidiary, Jupiter Petroleum, been granted an extension to the First Renewal...

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