Company Updates

AWE delivers flow test record from Waitsia field

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AWE Energy has popped the bubbly, celebrating one of the highest onshore flow rates in the Australian oil and gas industry. The Sydney independent oil and gas producer revealed that the Waitsia-4 well in the Perth Basin flowed gas at an instantaneous maximum rate of 90 million standard cubic feet per day from the Kingia Sandstone and an average of 89.6 MMscf/d on a 96/64 inch choke at ~2,395 psig flowing well head pressure over a 23-minute period. AWE shares soared 7% to 58c on the...

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Australian subsea sector set to see major activity improvement

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THE Australian subsea oil and gas industry is about to see a significant increase in activity, according to one of the region’s leading figures. Marius Martens, the Chairman of national industry body, Subsea Energy Australia. and a senior committee member overseeing content for the 2018 Australasian Oil & Gas Exhibition & Conference (AOG2018) Subsea Forum, says that subsea activity is expected to grow to support both new and recently constructed projects. In terms of new projects; Mr...

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China scoops Bentley Systems Award in Singapore

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CHINA’s Offshore Oil Engineering Company, a subsidiary of CNOOC, was the star oil and gas performer at the Bentley Be Inspired Awards Ceremony in Singapore where the company won the BIM Advancements in Mining and Offshore Engineering for innovation driving efficiencies. Bentley Systems Vice President Analytical Product Modelling Director Katherine Flesh said the award recognised excellence in the planning, design, structural engineering, construction, operations and commissioning of...

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Chevron cans Great Australian Bight exploration program.

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Oil and gas supermajor Chevron described the Great Australian Bight as one of Australia’s most prospective frontier hydrocarbon regions, but said the suspension of its exploration endeavours in the area was because it could not compete in the current low oil price scenario. Chevron Australia managing director Nigel Hearne commented: “We appreciate the strong support from governments, regulators and the local community for our plans to explore for hydrocarbons offshore South Australia....

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Po Valley in proposed major re-organisation

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Australian gas producer Po Valley Energy has announced a major re-organisation and asset ownership structure for all of its Italian oil and gas exploration and production interests. Po Valley said the initiative would give PVE shareholders a stake in a much enlarged and more liquid operator to be chaired by renowned UK energy executive, Mr James Parsons. The centrepiece of the proposed restructure will see UK-AIM listed and 54%-owned Po Valley subsidiary, Saffron Energy (LON: SRON)...

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Chevron acquires exploration acreage offshore WA

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Chevron Australia has announced its affiliate has successfully acquired exploration interests in three offshore blocks located in the Northern Carnarvon Basin off the Western Australia coast. Chevron Australia Managing Director Nigel Hearne said this new acreage strengthens Chevron’s position in Australia’s premier hydrocarbon basin where there is an established network of production infrastructure, including the Chevron-operated Gorgon and Wheatstone Projects. “Offshore Western...

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Geoscience Australia to sponsor AGCC 2018

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The Australian Geoscience Council Convention, AGCC 2018, has announced that Geoscience Australia will be the patron sponsor of the event, which will be held in Adelaide from Sunday 14th to Thursday 18th of October next year. The Convention, which is expected to attract more than 2,000 delegates from Australia and overseas, will cover all aspects of geoscience, with technical themes on theoretical and applied geoscience, mineral and energy resources, environmental and societal science,...

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Po Valley sells ‘pizza’ two Italian licences

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AUSTRALIA’S Po Valley has announced the sale of its interest in two onshore Italian oil exploration licences for $1.69 million. The company said it is selling its 85% share in the fully awarded large oil exploration licence, Cadelbosco di Sopra, and 100% of the immediately adjoining small oil exploration licence, Grattasasso, to a private oil and gas company backed by a private equity fund based in London. Both licences are located northwest of Modena in the Emilia Romagna...

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Polarcus announces broadband 3D project in Asia Pacific

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Polarcus has received a letter of award for a broadband 3D marine seismic project in Asia Pacific. The project is due to commence in the fourth quarter and will run for approximately one month. Polarcus did not reveal which country the operation will be conducted in or for which client. It is also not certain which vessel the company will deploy. The vessel which is believed to be in the region, however, is the Polarcus Naila, which previously operated in Malaysia.

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CGG starts CWAZ survey in Gulf Of Mexico

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CGG has announced the start of acquisition of its first Complementary Wide-Azimuth survey, known as AC CWAz, a BroadSeis™ 3D multi-client program in southern Alaminos Canyon, Gulf of Mexico. Extending over 130 OCS Blocks and covering Great White and the recent Whale discovery, CGG said AC CWAz is supported by industry funding and complements its existing surveys in the area by adding azimuth and offset coverage to the historic wide-azimuth data. “All the data will be combined and...

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