General

Shearwater Geoservices Holding AS (“Shearwater”) has secured its second award from TotalEnergies for an Angolan OBN project. This follows the recent award of a project at block B32 on October 9, 2024.

The three-month deepwater OBN survey at B20/11 covering the Golfinho and Cameia fields, will utilise the Shearwater OBN platform comprising of the Pearl node and the company’s fit for purpose dual ROV-equipped SW Tasman. The SW Gallien will be acting as source vessel and the project will be in direct continuation of the previously announced project.

Shearwater CEO Irene Waage Basili commented,

“These consecutive projects underline the strength of our long-term strategy and adds to the already impressive utilisation of the Shearwater OBN platform.

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Beach Energy Ltd (ASX: BPT, Beach) is pleased to announce first gas from the Thylacine West 1 and 2 development wells following successful connection to the Otway Gas Plant.The Thylacine West development wells are located approximately 70 kilometres south of Port Campbell at a water depth of approximately 100 metres. The field is connected to the Thylacine subsea network via a 4.2 kilometre 8” flowline.

Commenting on first gas, Managing Director and CEO Brett Woods said: “First gas from Thylacine West marks completion of the largest ever offshore drilling and development program in the Otway Basin, a major achievement for Beach.

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Viridien and SLB have recently completed the acquisition of a new multi-client survey in the Bonaparte Basin, off the NW coast of Australia, that has received industry support and prefunding. The resulting 6,760 sq km ultramodern PSDM seismic data set will provide a thorough evaluation of this highly prospective and underexplored area to improve industry understanding. The data is currently being processed and the final data will be available in Q2 2025.

The complex geological area has been historically challenging to image due to the presence of carbonates and the shallow water.

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'Kinetiko Energy Ltd (ASX: KKO) has seen its share price plunge 28% after the first of a five-well drilling program failed to find commercial gas quantities.

The Perth-based explorer is developing an energy solution for South Africa focused on commercialising its 100% owned advanced shallow conventional gas projects in the Mpumalanga Province. At press time KKO as priced at 6.8c.

Drilling at well 271-23PT commenced on Friday, 27 September and was completed ahead of schedule on 16 October 2025.

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Santos has announced the Darwin LNG joint venture -operated by Santos and in which Santos holds a 43.43 per cent interest -has achieved financial close of new syndicated bank loan facilities totalling US$800 million.

The facilities comprise a US$350 million 7-year, partially amortising loan maturing in 2031 and a US$450 million, 12-year partially amortising loan maturing in 2036. The facilities are senior-secured by Darwin LNG Pty Ltd. The shareholders in Darwin LNG Pty Ltd, including Santos, have granted security over their shares in that company.

The facilities received strong support from existing and new syndicated banking relationships and the proceeds will be used to fund the DLNG life extension works.

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Woodside has reviewed its current listing structure and decided to delist from the London StockExchange (LSE).

Woodside shares represented by depositary interests account for approximately 1%of Woodside’s issued share capital.

Trading volumes of Woodside shares on the LSE were low and delisting from the LSE will reduce Woodside’s administration costs, the company said.

Woodside has applied to the UK Financial Conduct Authority (FCA) and the LSE to cancel theadmission of Woodside shares to listing in the International Commercial Companies SecondaryListing category of the Official List of the FCA and trading under the ticker “WDS” on the Main Marketfor listed securities of the LSE.

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Shearwate has announced the award of two consecutive towed streamer survey projects in the Asia Pacific Region with a combined duration of three months.

The Shearwater multi-sensor vessel Geo Coral is allocated to the projects which commences early in Q4 2024.

Shearwater is a global marine geoscience and technology business that specialises in collecting data offshore. The organisation uses state-of-the art seismic vessels and equipment to explore the seabed and processes the data using market-leading proprietary software.

These insights help clients understand the Earth and make informed decisions about accelerating responsible use of its resources.

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Strike Energy Limited (Strike - ASX: STX) as operator of the EP469/L25 Joint Venture, whichincludes the West Erregulla gas field, has completed the flow testing program at the Erregulla Deep-1 (ED-1) discovery well in EP469 with "excellent results".ED-1, which is the deepest well ever drilled onshore Australia, flow tested the Kingia gas discovery individually and the High Cliff gas discovery via a comingled test.ED-1, had 24m of perforations across the Kingia from 4,805m TVDSS and 12m of perforationsacross the High Cliff from 4,850m TVDSS.

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Technology group Wärtsilä has been selected to deliver its second major energy storage project in South Australia. Located in Bungama, stage 1 of this multi-stage project will be supplied to Amp Energy, a global energy transition platform.

The standalone battery energy storage system (BESS) will have a 150 MW / 300 MWh capacity and will support energy security and reliability as renewable energy supply increases, pacing South Australia’s ongoing energy transition. The order was booked in September 2024.

The project will be built with Wärtsilä’s Quantum High Energy storage technology, recognised for its "advanced safety features and enhanced energy density".

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TotalEnergies has signed an agreement to sell its fuel distribution activities in Brazil to SIM Distribuidora, a Brazilian company. The transaction involves a network of about 240 filling stations and several storage facilities for petroleum products and ethanol.

SIM Distribuidora, one of the recognized players of the fuel distribution business in Brazil, belongs to Grupo Argenta, which has more than 500 service stations, lubricants and aviation activities.

This sale reflects the selective strategy of TotalEnergies in Marketing & Services in the retail network business focussed on core geographies with significant market share positions. The Company will retain its lubricants blending and distribution activities in Brazil.

The acquisition remains subject to authorization by the relevant authorities.

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