Industry

US Power Prices ‘Set to Surge’ saysWoodMac

28/02/2025 Posted by Dale

LOBE NEWSWIRE) -- US power demand has remained essentially flat for the past decade, but this is all about to change as a pending surge in demand growth will be the biggest challenge for utility companies in decades, according to the latest Horizons report from Wood Mackenzie.

According to the report, “Gridlock: the demand dilemma facing the US power industry” US electricity demand growth will be between 4% and 15% through 2029, depending on the region, with burgeoning data-centre development, a resurgence in energy-intensive US manufacturing, and greater transport and heating electrification driving electricity demand growth not seen since the 1990s.

Barossa on-track

29/01/2025 Posted by Matthew.Quinn

Santos announced in it’s fourth quarter report, that the Barossa project is 88.3% complete and still on track for first production in 2025. The second and third wells of the six-well program have been completed with good results, both the fourth and fifth wells have been spudded.

The project consists of up to eight subsea wells and a subsea production system bringing gas and condensate to an FPSO. Water, gas and condensate will be separated at the FPSO with gas transported via an approximately 300km pipeline to Darwin. Condensate is to be transferred from the FPSO to tankers for sale.

PESA ETSIG CSIRO CCS Knowledge Transfer Series

PESA / CSIRO CCS Knowledge Transfer Series wraps up

06/01/2025 Posted by Helen

Peter Hoiles – PESA Webinar Coordinator

In early 2023, CSIRO and PESA’s Energy Transition Special Interest Group (ETSIG) joined forces to design a carbon capture and storage (CCS) knowledge transfer series. The aim of the series was to highlight to the PESA audience what is different about CCS compared to what we know about and understand from oil and gas operations. The series commenced in September 2023 and concluded in September 2024, with a total of twelve webinars presented.

PESA women eligible for Leadership Scholarships

07/10/2024 Posted by Dale

Partial scholarships are up for grabsfor women in the Energy and Utilities Industry ranging from $1,000 to $6,000per person, for one of four leadership and workplace skill development programs.

These scholarships are aimed at encouraging more women to increase their impact at work, progress their career, and step into leadership roles.

Registrations of interest close on Friday 29 November 2024. Via our website: https://www.wla.edu.au/industry/energy/

OPEC is Betting Big on Oil to hit 120 MMBBL to 2050 and Beyond

05/10/2024 Posted by Dale

For OPEC, it is a great honour to launch the World Oil Outlook (WOO) 2024 in Brazil. The country’s comprehensive and inclusive approach to energy issues has been on display through its G20 presidency in 2024, and will no doubt be central to its hosting of COP30 in 2025. This stance is fully in line with OPEC’s development of its WOO, as well as the Charter of Cooperation between OPEC and participating non-OPEC countries, a voluntary framework for dialogue and a platform for multilateralism.

This year’s WOO provides governments, policymakers and people around the world with realistic and sustainable future energy pathways.

NFE’s FLNG1 Delivers First Cargo to Europe

05/10/2024 Posted by Dale

New Fortress Energy,s’s first Fast LNG (FLNG) asset, FLNG 1 – comprising three repurposed jack-up rigs off the coast of Altamira – has had its first full LNG cargo fully loaded onto the Energos Princess, which setsail for Europe. This comes less than two months after completing the first cargo load and sail operation.

“This is a significant milestone for our Fast LNG installation.

Santos and TIMOR GAP Execute Sale and Purchase Deed for the Bayu-Undan Upstream Project

01/10/2024 Posted by Dale

The Bayu-Undan Joint Venture (BUJV) participants and TIMOR GAP have executed a Sale and Purchase Deed (SPD) to transfer a 16 per cent interest in the Bayu-Undan upstream project to TIMOR GAP, with an economic date of 1 July 2024. Completion of the SPD is subject to customary closing conditions.

Under the terms of the SPD, TIMOR GAP participates in the BUJV for the remainder of the economic life of production. As previously announced, the Production Sharing Contract (PSC) for Bayu-Undan will terminate at the earlier of 30 June 2026 or upon cessation of production.

The Bayu-Undan upstream project comprises the offshore petroleum field, and offshore production and processing facilities located in Timor-Leste.

AREEA Welcomes new BOARD Director Simon Younger

30/09/2024 Posted by Dale

The Australian Resources & Energy Employer Association (AREEA) was pleased to announcethat ExxonMobil Australia President Simon Younger has joined its Board of Directors.Mr Younger is vastly experienced in the oil and gas sector.After graduating as an engineer and starting his career with Esso Australia in 1997, he has held a variety of roles with ExxonMobil affiliates in Australia, the United States, Qatar and Nigeria.In 2020, Mr Younger became Senior Vice President Upstream for Canada’s Imperial Oil Limited,majority-owned by ExxonMobil.AREEA Chief Executive Steve Knott AM said Mr Younger would be an outstanding addition to the national employer group’s Board of Directors.

OMV Makes new Gas Discovery Offshore Norway

11/09/2024 Posted by Dale

OMV Norge, a Norwegian subsidiary of Austrian OMV, has made a new gas discovery in a wildcat well off the coast of Norway with the Transocean semi-submersible rig Norge.

OMV, is the operator of PL 1194, and drilled the wildcat well 6605/6-1 S in the Norwegian Sea targeting the Haydn/Monn exploration prospects, which led to a discovery with estimated recoverable volumes between 30 and 140 million boe.

Located 300 km west of Norway in water depths of 1,064 meters, the gas discovery is located approximately 65km from the Polarled pipeline and the Aasta Hansteen field.

Viridien Commences Next-Generation Sparse OBN Project in the Gulf of Mexico

10/09/2024 Posted by Dale

Viridien has announced the start of the Laconia 3D OBN multi-client seismic program in the US Gulf of Mexico.

Covering 330 OCS blocks in the Garden Banks and Keathley Canyon protraction areas, the project is supported by industry funding. Acquisition started in July 2024 with the delivery of initial products scheduled for Q2 2025.

To improve the resulting images and subsurface information, Viridien said this survey will record extra-long-offset full-azimuth OBN data and utilize the Sercel TPSTM (Tuned Pulsed Source), an innovative environmentally friendly low-frequency marine seismic source.