Industry

Chevron acquires exploration acreage offshore WA

10/10/2017 Posted by Dale

Chevron Australia has announced its affiliate has successfully acquired exploration interests in three offshore blocks located in the Northern Carnarvon Basin off the Western Australia coast. Chevron Australia Managing Director Nigel Hearne said this new acreage strengthens Chevron’s position in Australia’s premier hydrocarbon basin where there is an established network of production infrastructure, including the Chevron-operated Gorgon and Wheatstone Projects. “Offshore Western...

Record earnings forecast for resources and energy exports

10/10/2017 Posted by Dale

Australia’s resource and energy export earnings in 2016–17 increased to $204 billion, and are forecast to reach a record $211 billion in 2017–18, before declining to $201 billion in 2018–19. The Resources and Energy Quarterly – September Quarter 2017, released by the Department of Industry, Innovation and Science, shows a 27 per cent increase in earnings in 2016–17. The report shows this increase was largely driven by price increases in iron ore and metallurgical coal,...

Geoscience Australia to sponsor AGCC 2018

02/10/2017 Posted by Dale

The Australian Geoscience Council Convention, AGCC 2018, has announced that Geoscience Australia will be the patron sponsor of the event, which will be held in Adelaide from Sunday 14th to Thursday 18th of October next year. The Convention, which is expected to attract more than 2,000 delegates from Australia and overseas, will cover all aspects of geoscience, with technical themes on theoretical and applied geoscience, mineral and energy resources, environmental and societal science,...

Norway has one trillion reasons to smile

02/10/2017 Posted by Dale

Norway’s sovereign wealth fund has surpassed one trillion US dollars in value for the first time. That’s some achievement for the world’s biggest sovereign wealth fund, universally known as the ‘oil fund’ that only received its first capital injection in 1996 from the Norwegian government as a means of securing wealth for the country’s future generations. As said on the fund’s website: “The Government Pension Fund Global is saving for future generations in Norway. One...

Po Valley sells ‘pizza’ two Italian licences

26/09/2017 Posted by Dale

AUSTRALIA’S Po Valley has announced the sale of its interest in two onshore Italian oil exploration licences for $1.69 million. The company said it is selling its 85% share in the fully awarded large oil exploration licence, Cadelbosco di Sopra, and 100% of the immediately adjoining small oil exploration licence, Grattasasso, to a private oil and gas company backed by a private equity fund based in London. Both licences are located northwest of Modena in the Emilia Romagna...

Polarcus announces broadband 3D project in Asia Pacific

26/09/2017 Posted by Dale

Polarcus has received a letter of award for a broadband 3D marine seismic project in Asia Pacific. The project is due to commence in the fourth quarter and will run for approximately one month. Polarcus did not reveal which country the operation will be conducted in or for which client. It is also not certain which vessel the company will deploy. The vessel which is believed to be in the region, however, is the Polarcus Naila, which previously operated in Malaysia.

CGG starts CWAZ survey in Gulf Of Mexico

26/09/2017 Posted by Dale

CGG has announced the start of acquisition of its first Complementary Wide-Azimuth survey, known as AC CWAz, a BroadSeis™ 3D multi-client program in southern Alaminos Canyon, Gulf of Mexico. Extending over 130 OCS Blocks and covering Great White and the recent Whale discovery, CGG said AC CWAz is supported by industry funding and complements its existing surveys in the area by adding azimuth and offset coverage to the historic wide-azimuth data. “All the data will be combined and...

Senex secures Surat Basin lease

12/09/2017 Posted by Dale

The Palaszczuk Government in Queensland has announced that it is “moving rapidly to boost gas supplies for industry” with confirmation that a Queensland company is the preferred tenderer for a Petroleum Lease on land in the Surat Basin released to supply the domestic market. Minister for Natural Resources and Mines Dr Anthony Lynham said he was very pleased to see emerging gas producer Senex secure the rights to supply such a critical resource for our market. “The Palaszczuk...

CGG STARTS ESPIRITO SANTOS IV SURVEY OFF BRAZIL

05/09/2017 Posted by Dale

CGG has announced the start of work on Espirito Santo IV, a large BroadSeis™ 3D multi-client survey in the deep and ultra-deep waters of the Espirito Santo Basin offshore Brazil. The Oceanic Champion is acquiring the survey which is expected to take seven months and will cover 10,300 sq km and be processed at CGG’s Rio de Janeiro Subsurface Imaging center. ‘The high-end broadband sequence will include the latest 3D deghosting, Full-Waveform Inversion (FWI) velocity modeling and...

Giant Ichthys Venturer FPSO is moored

28/08/2017 Posted by Dale

The INPEX-operated Ichthys LNG Project’s floating production, storage and offloading facility (FPSO) has been safely moored in the Ichthys Field, 220 kilometres off the north coast of Western Australia. INPEX announced that the 336-metre long FPSO, named Ichthys Venturer, longer than three soccer fields and designed for 40 years of operations without being dry docked, had reached Australia in mid-August and was moored on August 24. “The safe and efficient mooring of the Ichthys...

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