Feature Articles

Shearwater announces offshore survey awards in Australia and Angola

09/03/2021 Posted by Dale

Shearwater Geoservices has announced the award of a 3D seismic survey in the Otway Basin and a 4D survey in Angola by Total.

“We see a solid, consistent level of activity in Australia where we have multiple projects booked in 2021”, said Irene Waage Basili, CEO of Shearwater. “We observe increasing regional demand for our vessels equipped with high-end technology, which is reflected in backlog and utilization.”

The approximately two-month survey is expected to commence in Q3 2021 covering an estimated 2,700 sqkm, employing the Geo Coral using a multisensor streamer system with a variable streamer spacing configuration.

Off Angola the two-month project will be on the GJDR Development area of Block 17, commencing in Q1 2021.

Western Gas and APA to study transcontinental pipeline plan

02/03/2021 Posted by Dale

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.

Europe’s oil & gas industry saw a rise of 23.73% in cross border deal activity in Q4 2020

02/03/2021 Posted by Dale

Led by PPG Industries’ $1.52bn acquisition of Tikkurila, Europe’s oil & gas industry saw a rise of 23.73% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 73 cross border deals worth $7.58bn were announced for the region during Q4 2020, against the last four-quarter average of 59 deals.

Of all the deal types, M&A saw most activity in Q4 2020 with 69, representing an 94.5% share for the region.

In second place was private equity with four deals capturing a 5.

GECF lecture lights up natural gas for its “vital role in energy transition”

02/03/2021 Posted by Dale

Natural gas has a very important role to play in the energy transition and in meeting the world’s climate goals, the Secretary General of the International Energy Forum, HE Joseph McMonigle, said.

Speaking at the inaugural GECF Gas Lecture of 2021, entitled ‘The Role of Gas in Clean, Reliable, and Sustainable Growth’, HE McMonigle said that the success of the energy transition rests “on the use of natural gas technologies and their capacity to accelerate fuel-switching and create synergies to integrate renewables, green gas, hydrogen, and other carbon dioxide solutions.

“Obviously, this does not come without challenges...

CO2CRC launches technical advisory and consultancy services company

02/03/2021 Posted by Dale

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...

Gippsland Basin leads in 3D Oil’s crosshairs

23/02/2021 Posted by Dale

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.

Woodside signs LNG supply deal with RWE

23/02/2021 Posted by Dale

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.

US Gulf Coast storm outages rise, send ripples round global markets

23/02/2021 Posted by Dale

Will Beacham, of ICIS Chemical Business, says the US polar storm shut down 90% of US polypropylene (PP) capacity, 67% of ethylene and devastated other important products, sending ripples around global chemical markets and prices soaring.

More chemical plants and refineries across the Gulf Coast region have been hit by prolonged power and feedstock outages caused by freezing weather, snow and ice which have also halted logistics networks. More bad weather, forecast for later in the week, may prolong the disruption.

So far, ICIS has reported more than 60 plant outages as a result of the storm, with analysis using data from the ICIS Supply & Demand database showing that a wide swathe of the Gulf petrochemical sector has now been severely impacted.

Shearwater awarded Norwegian Sea OBS 4D survey by Aker BP

23/02/2021 Posted by Dale

Shearwater GeoServices has announced the award of an ocean bottom seismic (OBS) 4D survey by Aker BP at the Ivar Aasen field in the Norwegian North Sea.

“This is a welcome return to the Ivar Aasen field for Aker BP with Qseabed,” said Irene Waage Basili, CEO of Shearwater GeoServices.

“Shearwater is established in all segments of high-end offshore seismic, executing our clients’ projects with the technologies of their choice, including market leading solutions for ocean bottom seismic.”

The survey will commence in Q2 2021 and will employ Shearwater’s multi-purpose vessels the SW Cook and SW Tasman, using proprietary technology.

APPEA congratulates new Federal Shadow Ministers

15/02/2021 Posted by Dale

APPEA has congratulated Madeleine King and Chris Bowen on their recent appointments as part of the Federal Opposition’s ministerial reshuffle.

APPEA Chief Executive Andrew McConville said the industry looked forward to continuing to work collaboratively with the shadow ministers and the Opposition to ensure the safe and sustainable development of Australia’s oil and gas resources.

The appointment of Ms King to the important resources portfolio, in addition to her existing role as Shadow Minister for Trade, is recognition of the critical role Australia’s resources make to the economy.

“Our natural resources play a vital role and contribution in underpinning our economic well-being with hundreds of thousands of Australian jobs relying on a safe, reliable and affordable natural gas supply,” Mr McConville said.