Feature Articles

Industry scholarship awarded to petroleum student

10/12/2019 Posted by Dale

The 2019 winner of APPEA’s prestigious Tony Noon Memorial Scholarship is Elliot Foley, a PhD candidate from James Cook University based in Townsville.

Mr Foley – who is studying geoscience – was awarded the $3,000 scholarship for his research on sedimentary basins and petroleum prospectivity in north-eastern Queensland, focusing on the Carpentaria Basin.

The annual Tony Noon Memorial Scholarship provides a one-off grant for honours, Masters or PhD students from a range of disciplines, including geology, safety, engineering, economics, law or environmental management.

APPEA Chief Executive Andrew McConville applauded the high-achieving PhD student, who impressed judges with his ground-breaking research relating to Australia’s oil and gas industry.

Saudi Aramco IPO sets new records, but “raises questions for businesses in Saudi Arabia”

10/12/2019 Posted by Dale

Following the recent news that Saudi Arabia’s national oil company has completed the initial public offering (IPO) of 3 billion shares — raising $25.6bn — international analysts have reacted saying the listing was not a complete success.

Richard Thompson, an Editorial Director at GlobalData, commented:

“Aramco’s IPO has several important objectives for the company and for Saudi Arabia. Most obvious is that it has raised $25.6bn in equity for the company that will be immediately reinvested into strategic projects.

Gas lauded for jobs and energy creation in Queensland

10/12/2019 Posted by Dale

Queensland natural gas is fuelling Queensland energy and Queensland manufacturing jobs in a national first.

Senex Energy’s Project Atlas has delivered its first gas to its first customer, state-owned power generator CleanCo, and will follow within weeks to building products maker CSR, which has three south-east Queensland manufacturing plants.

Mines and Energy Minister Dr Anthony Lynham said the energy and resources milestone was underpinning manufacturing jobs and businesses and the state’s reliable, lower-cost electricity supply.

Polarcus starts seismic survey in the Petrel field

10/12/2019 Posted by Dale

The first significant investment in the Petrel field in five years has begun in the Bonaparte Basin with Polarcus commencing a 3D seismic survey in the area on behalf of Neptune Energy.

Neptune said the survey would expand the area of seismic data the company holds and significantly increase the quality and breadth of data, for the company and its partners in the Petrel JV to plan a path forward.

Neptune Energy Australia Managing Director, Janet Hann, said: “The Bonaparte Basin presents exciting growth opportunities for Neptune, and Petrel may play a significant role in our future aspirations for the area.

Petrosys acquires GLOBE Claritas™ seismic processing software from GNS Science

03/12/2019 Posted by Dale

Petrosys has announced the acquisition of GLOBE Claritas™ seismic processing software from GNS Science in New Zealand.

GLOBE Claritas said the backing of Petrosys “will open up a new phase of growth for GLOBE Claritas™, allowing stronger penetration of geographical markets and providing access to a broader shared global client list and geographic outreach focused on the resources industry.

“Our corporate ethos of allowing acquired companies to retain their individual brand strengths and culture will ensure that GLOBE Claritas™ remains a respected, trusted, independent and responsive provider for seismic processing and data management software.

Empire capital raising strikes a chord for Betaloo Basin exploration

03/12/2019 Posted by Dale

Empire Energy has raised $12 million to advance exploration programmes in the company’s 100% owned EP187 tenement in the Betaloo Basin, Northern Territory.

Funds derived from the placement to institutional and sophisticated investors are set to unlock the Northern Territory’s first exploration targeting the Velkerri Shale.

At present 2D seismic data acquired in EP187 is being processed and interpreted to determine final locations for exploration drilling, which is scheduled to commence in the dry season next year, subject to regulatory approvals.

Empire Managing Director Alex Underwood said the successful capital had empowered Empire to build the value of its shale properties in the Beetaloo and McArthur Basins through disciplined exploration investment.

Australia LNG exports ‘will lower’ emissions in importing countries

03/12/2019 Posted by Dale

As delegates gather in Madrid for the 25th annual United Nations Climate Change Conference, the latest government estimate released with the June 2019 Quarterly Update of Australia’s National Greenhouse Gas Inventory confirms the importance of Australia’s liquefied natural gas (LNG) exports for reducing global greenhouse gas emissions.

“It’s important to recognise the global appetite for energy is growing, with more than 1.1 billion people lacking access to electricity. Substituting LNG for more emissions-intensive fuels allows importing countries to satisfy growing demand while reducing emissions,” said APPEA Chief Executive Andrew McConville.

“Australia’s LNG projects will deliver decades of economic growth, jobs and exports as well as strong regional and global environmental benefits.

Mosman Oil and Gas granted one-year permit extension

26/11/2019 Posted by Dale

Mosman Oil and Gas has welcomed a one-year permit extension for a prospect in the Amadeus Basin in the Northern Territory whereby the Sydney-based company has been granted a 12-month suspension of year three work-program commitments.

The company has also been granted a corresponding extension of the permit term.

“This is exactly the decision Mosman had sought and now the company can move forward with the 2D seismic acquisition, seismic processing and interpretation and exploration well planning,” Mosman said.

The company said the work program was already progressing as it had contracted a seismic acquisition contractor and had completed field trips during 2019 to assess the terrain and logistical requirements for the seismic survey.

CGG Announces Largest OBN Multi-Client Survey in UK CNS

26/11/2019 Posted by Dale

CGG has announced a program to deliver the largest OBN multi-client survey ever conducted in the UK Central North Sea (CNS).

Planned to start in early 2020, the survey has already received significant industry interest and is being prefunded in part by BP. First results are targeted for Q1 2021.

CGG said that in the CNS, where complex salt diapirism has created significant challenges to imaging deeper reservoir targets, this new survey, with its long-offset, full-azimuth coverage and good low-frequency signal in a shallow water environment, together with CGG’s advanced imaging technology, will provide a step-change in seismic image and reservoir characterization quality.

PGS Supports Crowdsourced Bathymetry Initiative

25/11/2019 Posted by Dale

From 2020, all vessels in the PGS fleet will share bathymetry information collected using echo sounders, with The Nippon Foundation-GEBCO Seabed 2030 Project. The project aims to map the entire ocean floor by the year 2030, the Norwegian headquartered marine geophysical company said this week.

The bathymetric data will support Seabed 2030’s crowdsourced bathymetry initiative – benefitting seafarers in the form of updated and more accurate sea charts, PGS added.

An agreement to this effect was signed between PGS and Seabed 2030 during the Sustainable Ocean Summit in Paris.

PGS operates a fleet of seismic vessels that traverse the world’s oceans and work in regions ranging from the developed to the unchartered.