Every four-five years the PESA Federal Board spend a day meeting in person (where possible) to review and update the Society’s strategic plan. The first such plan was released in 2016 with the aim of navigating the downturn in the industry and building foundations for PESA’s future. The second plan (Towards 2024) was released in 2019 with a 5 year operational time frame set within a 10 year planning horizon. The plan was revisited in 2021 but had the means to weather the Covid-19 pandemic in place so did not need significant updates.
PESA Gazette
2025 PESA Webinar Series Kicks Off
Peter Hoiles – PESA Webinar Coordinator
Running into its sixth year, the PESA Webinar Series has returned for 2025. Generally run every second Tuesday of the month from February to about November, the series offers members from all states and territories the opportunity to hear updates, challenges, stories and field examples from Australia and across the world.
The series kicked off for 2025 on Tuesday the 4th of February, with a talk by Donald Christie from Fugro.
“Drill Baby Drill”: Implications of Donald Trump’s 2nd Presidency for the US in the South China Sea
Article by Ganesh Sahathevan. First published by Australian institute of International Affairs
Ganesh Sahathevan ERP, MGis (UNE) Grad Dip Spatial Info (UNSW) Director, Centre for Industrial Research Pty Ltd, Sydney, Australia. CFRI provides research on the business and politics of this region with a particular emphasis on the oil, gas and renewables industry.
The Trump campaign war cry “we will drill, baby, drill” could lead to a resurgence of oil and gas (O&G) exploration and production in the South China Sea when (and not if) President Donald Trump removes obstacles to O&G production currently in place in the United States.
Upcoming Webinar in collaboration with the CCUS Network Australia – 19th Feb
The CCUS Network Australia is hosting its next webinar on Wednesday 19 February 2025 at 11am (Perth time). In this installment of the CCUSNA Webinar Series, Julian Cheng, Partner at Gilbert + Tobin, will talk about "Navigating the Tax Landscape for CCS Projects".
Abstract:
This presentation will cover key tax considerations relevant to CCS projects including:
Speaker Biography:
With over 25 years’ experience, Julian Cheng provides tax advisory services to the full spectrum of clients. His clients include public and private corporate groups, fund managers across various asset classes, consortiums and joint ventures and high net worth individuals.
NZ looking to encourage exploration
The New Zealand government is currently proposing a series of changes to the “Crown Minerals Act 1991” including:
The proposed amendments come in response to declining gas reserves within New Zealand (down 17% to January 2023) and associated energy security concerns.
The consultation period for these amendments is due to close on February 11, with changes possible during the year.
PESA members get discount on registration to the Australian Energy Producers conference
PESA members (make sure you are logged in) can access a 10% discount on registration to the upcoming Australian Energy Producers Conference & Exhibition in Brisbane from 26–29 May 2025.
Just click here
Under the theme ‘The Energy Edge | Innovation, Opportunity, Security’, the conference will set the platform for the essential discussions, debates, and knowledge sharing to explore the challenges and opportunities shaping our industry.
Australia has the resources to be a global superpower to 2050 and beyond. However, we cannot take our edge for granted.
Barossa on-track
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.
Dorado Deferred
On 21 January 2025, Carnarvon Energy announced that the Santos operated Dorado Phase 1 liquids development will not enter FEED and hence the previous target of FID in 2025 will be deferred.
The Dorado Joint Venture of Santos (80% and operator), Carnarvon (10%) and CPC (10%) are continuing to review the timeline for the project with additional exploration wells within the permit planned for 2026.
Moving in the Wrong Direction: Flaring Emissions on the Rise, ‘Reversing a Positive Trend’
Flaring emissions from global upstream oil and gas production activity increased by 7% from 2022 to 2023, according to latest Rystad Energy research. Upstream activities emit about 1 gigatonne per year of carbon dioxide (CO2) in total, with flaring contributing around 30% of those emissions in 2023 assuming 98% flaring efficiency on average. Flaring reduction is considered a low-hanging fruit for oil and gas companies trying to reduce their carbon footprint. However, this recent uptick underscores the challenges facing the industry, particularly in key producing countries such as Russia, Iran and Iraq.
Flaring — the process of burning off excess natural gas during oil extraction — has been a longstanding concern for environmentalists and policymakers. A
Beach Announces CCS start-up at Moomba
Beach Energy said it was pleased to announce successful commissioning and ramp-up of the Moomba Carbon Capture and Storage (CCS) project1, one of the world’s largest CCS projects.
All facilities, pipelines and injector wells have been commissioned and brought online. Following first CO2 injection on 30 September 2024, daily injection has reached capacity rates, exceeding expectations for the commissioning phase and indicating the project’s potential to capture and store approximately 1.7 million tonnes of CO2 per annum.
Moomba CCS is adjacent to the Moomba Gas Plant in the Cooper Basin, South Australia.