Perth-based Safehouse Habitats and its UK-based parent, Starn Group, have successfully completed the acquisition of the ESPRAT group of companies based in Australia and Malaysia. Safehouse said this latest expansion would extend the existing Starn footprint in these territories and strengthens its position in the region by providing a platform to further develop the Malaysian market for Safehouse habitats, and to provide the gas detection and related services of another Starn business, Sabre Safety Services.
Industry
Osaka Gas signs Taiwan LNG receiving terminal deals
OSAKA, Japan - Osaka Gas Engineering Co., Ltd. (OGE), a subsidiary of Osaka Gas Co., Ltd. (Osaka Gas) has entered into an agreement to provide consulting services for the construction of LNG receiving terminals on behalf of CPC Corporation, Taiwan (CPC) and Taiwan Power Co., Ltd. (TPC) respectively.
East coast gas prices could rise 30 percent in five years
Wood Mackenzie forecasts Australia's East Coast gas prices to rise up to 30 percent to between A$10 and A$13 /per gigajoule by the mid-2020s. The company concluded from a recent study that it was no surprise gas prices in the East Coast have jumped up over the last three years, a situation driven primarily by declining cheap gas supply from the Cooper Basin and offshore Victoria. New gas supply sources are also proving far more expensive to develop than the cheap legacy supply sources that have maintained Australian gas supply for decades.
ADNOC announces US$45 Billion investment to become leading lobal Downstream Player
The Abu Dhabi National Oil Company (ADNOC) has unveiled plans to invest US$45 billion with partners over the next five years to become a leading global downstream player. The plans were unveiled at the ADNOC Downstream Investment Forum, which took place today in Abu Dhabi, UAE. The event brought together more than 40 CEOs and 800 senior business leaders from the global oil and gas, energy, petrochemical and finance industries, as well as many other sectors.
$46.3bn will be spent on Southeast Asia’s upstream capex by 2020
An average capital expenditure (capex) of $17.8bn per year will be spent on 336 oil and gas fields in Southeast Asia between 2018 and 2020, according to GlobalData, a leading data and analytics company. Capex on Southeast Asia’s traditional oil projects will add up to $8.3bn over the three-year period, while heavy oil fields will require $1.7bn over the same period. Investments into gas projects in Southeast Asia will total $43.4bn in upstream capex by 2020. Jonathan Markham, Oil & Gas Analyst at GlobalData said, “Shallow water projects will be responsible for over 63 percent of $46.
BP Commits to Sell Gas to Alaska LNG Project
The Alaska LNG Project has reached a "historic milestone" as BP Alaska and Alaska Gasline Development Corporation (AGDC) announced the parties have agreed to key terms of a Gas Sales Agreement, including price and volume. The terms are captured in a Gas Sales Precedent Agreement which was signed on May 4, 2018. In a statement Alaska Gas Development Corporation said both the parties anticipate finalizing a long-term gas sales agreement in 2018 for AGDC to purchase BP Alaska’s share of 30 trillion cubic feet (TCF) of gas from the Prudhoe Bay and Point Thomson units.
Blue Energy raises concerns over hydraulic stimulation
Blue Energy is concerned about that additional layers of regulation governing hydraulic stimulation could burden an already labouring oil and gas industry. Barely two weeks after the Northern Territory government lifted the moratorium on hydraulic fracturing in the north of Australia, Brisbane-based Blue Energy welcomed the development, but also noted some concerns in its quarterly activities report released last week.
PESA WA Branch’s April Technical Talk
The April monthly technical talk was held by PESA WA Branch with over 50 people attending, with special gratitude to our four sponsors: Spectrum (Platinum), CGG (Gold), Searcher Seismic (Gold) and DUG (Gold). WA Branch President, Helen Debenham, opened the meeting with the brief introduction of upcoming Branch events. Helen also announced new activities of our sponsors, including large projects of reprocessing 3D and 2D data in Otway Basin (Spectrum) and Gippsland Basin (CGG). Both projects will assist exploration activities to unlock future potential in eastern Australia.
PESA QLD Branch kicks off their evening talks for 2018
PESA Qld Branch was delighted to welcome Dr Nick Lee to present at their April technical meeting. Dr Lee is a petroleum geoscientist with a wealth of experience gained from working internationally and the exploration-production life cycle. He is currently the Subsurface manager at QGC, the Shell-operated venture, responsible for a multi-disciplinary team of geoscientists, engineers, petrophysicists and production technologists based in Brisbane. The talk focussed on the mega-CSG projects of Eastern Australia and establishing fit for purpose data collection and workflows and expanded from the panel discussion Dr Lee participated in at last year’s SPE Unconventional Resources workshop.
Northern Territory lifts hydraulic fracking moratorium
The Northern Territory government has lifted a near two-year moratorium on hydraulic fracturing in the Australian state, barely three weeks after a scientific report gave the technology the all clear and said it could be performed safely if regulated responsibly. Northern Territory Chief Minister, Michael Gunner, made the surprise announcement, saying that he had taken his cue from the recent review, led by Justice Rachel Pepper from the Land and Environmental Court of New South Wales, that hydraulic fracturing could be done safely. Pepper’s reported listed 135 recommendations to mitigate risks associated with onshore shale drilling.