Oil and gas edged past technology and communication to emerge as the top sector in the Forbes 2019 list of world’s largest public companies with a 16.2% year-on-year (YoY) growth in revenue generation, according to data and analytics company, GlobalData. GlobalData analyzed the year-on-year change in sales and profits of the top 10 sectors by sales and the geographical spread of Forbes Global 2000 largest public companies and normalized into appropriate sectors.
Feature Articles
US oil boom breaks records
The United States leads the world in crude oil production and continues to set new records. The US produced an average 12.2 million barrels of crude oil per day in April. That marked the first time monthly oil production surpassed 12 million barrels per day, according to the U.S. Energy Information Administration. “We are in the midst of a transformational energy era with America leading the world in oil and gas production,” Secretary of Energy Rick Perry said in a July 16 tweet. American ingenuity sparked the shale oil revolution, as U.S.
Shearwater completes survey over Shell’s Pensacola prospect
Shell, in conjunction with non-operated partner Cluff Natural Resources, has completed a 3D seismic survey extending to approximately 420 km2 over the Pensacola prospect on Licence P2252 in the Southern North Sea, offshore the UK. The survey, conducted by Shearwater GeoServices using the Polar Express, was completed on time and with no adverse incidents on 21 August, Cluff Natural Resources said. Under the farm-in agreement, Shell are paying 100% of costs of the seismic acquisition, processing and interpretation work programme until the end of 2020 or until a well investment decision is made.
Meet our Bright Sparks
Bright Sparks are people that light up our industry in ways you won’t expect. Read the unique stories of the extraordinary individuals powering our homes, towns and cities, every day. Find it here: www.bright-r.com.au/brightsparks Included in the initial group of Bright Sparks are the following 14 individuals, including several PESA members: Ishtar Barranco Mendoza, Senior Geologist Barrow Island & North West Shelf, CHEVRON (WA) Yazan Arouri, PhD Candidate – Petroleum Engineering, AUST.
ConocoPhillips files environmental plan for Barossa field development
ConocoPhillips and its joint partners SK E&S Australia and Santos have submitted an environment plan to NOPSEMA to develop the Barossa Gas Field, located 300km northwest of Darwin. The development includes bringing gas and condensate from subsea wells to a floating production storage and offloading (FPSO) facility via a network of subsea flowlines and risers. Initial processing would occur on the FPSO to separate the gas, water, and condensate. The condensate would be transferred from the FPSO to specialised tankers for export.
Gorgon starts up massive CO2 injection system on Barrow Island
Chevron Australia and the Gorgon Joint Venture participants have announced the safe start-up and operation of the carbon dioxide injection system at the Chevron-led Gorgon natural gas facility on Barrow Island, off the northwest coast of Western Australia. Chevron Australia managing director Al Williams said: “We are pleased to reach the first milestone of safely starting the operation of the Gorgon carbon dioxide injection system, one of the world’s largest greenhouse gas mitigation projects ever undertaken by industry.
Beach submits plan to drill exploration well in the Otway
Lattice Energy, which is wholly owned by Beach Energy, has submitted an environment plan to drill a single exploration well in the Otway Basin, located approximately 32km off Victoria’s south west coast. The environment plan is under assessment with NOPSEMA and proposes that the Artisan-1 be drilled by the Ocean Onyx semi-submersible mobile offshore drilling rig. The Ocean Onyx is a conventionally moored, non-self-propelled, column-stabilised semi-submersible owned and operated by Diamond Offshore. The proposed Artisan-1 well location is at a water depth of approximately 71m.
AGS sets OBN production records in the North Sea
Norwegian ocean bottom node seismic company AGS has announced a number of seismic production records during an Utsira multi-client ocean-bottom node (OBN) seismic program. AGS said that this season’s Utsira multi-client ocean-bottom node (OBN) program, in conjunction with TGS, began on Saturday, July 3 and delivered a new company record marine source count in a single day. The crew achieved recording more than 50,000 marine sources in what was one milestone of a record seven-day acquisition window in all areas of the OBN program in the North Sea.
Australia launches largest offshore acreage release since 2000
Australia has released 64 areas for offshore oil and gas exploration in the 2019 Offshore Petroleum Acreage Release, representing the largest rollout of acreage in 19 years. Bidding will be open until 5 March 2020 with over 120,000km² released for a single round of work program bidding. Australia Minister for Resources Matt Canavan said the latest release was the first under a new streamlined system designed to deliver an annual investment cycle that “simplifies bidding, offers greater transparency and responds faster to the market demand”.
More gas will be needed to offset State’s renewable energy splurge, says Blue Energy
Queensland and NT explorer Blue Energy has weighed into Australia’s power struggle, saying the company believes the “misguided headlong rush” into renewable energy’s role in the national power grid will both stimulate gas exploration and spike energy prices in the country. In it’s June quarter activities report released recently, Blue Energy managing director John Phillips commented that despite the May federal election providing continuity of Government, the States still hold the balance of power when it comes to energy source, supply and distribution.