PESA Gazette

Finder Energy are seeking partners for PSC 19-11 in Timor-Leste

14/01/2025 Posted by Helen

Finder underwent a transformational change from a pure explorer to a developer through the acquisition of discovered oil fields in Timor-Leste. Finder is now moving quickly to progress development activity on the Kuda Tasi and Jahal Oil Fields.

Aaron Bond (Exploration Manager) said: "We are busy working through our commitments and developing our organisation to establish the requirements of an early production opportunity and a full field development. Currently the project is in the concept select phase and progressing through the requirements to satisfy the gated process including targeting suitable Drilling Rigs, FPSO’s and SURF requirements.

Geoscience workflows for CO2 storage

14/01/2025 Posted by Helen

A review and summary by Steve Moss

Geoenergy is a new journal co-owned between the Geological Society and the European Association of Geoscientists and Engineers (EAGE) that was established in 2023 (Geoenergy Home). The journal is dedicated to the publication of non-hydrocarbon energy geoscience and engineering research. In a similar fashion to its stable-mate journal, Petroleum Geoscience, Geoenergy focuses on the publication of timely and topical research in subsurface geoscience, critical for this new era of sustainable energy aiming to provide high quality papers of both fundamental research and case studies of subsurface and near surface analysis.

Oll and Gas Industry Embraces Robots for Increased Efficiencies

14/01/2025 Posted by Dale

With the applications of robotics continuously evolving, the oil and gas industry has emerged as a significant adopter of the technology to improve safety and efficiency of operations.

Robots equipped with advanced technologies are yielding increasingly positive results, bringing a continued transformation in the operations of oil and gas companies, says GlobalData, a leading data and analytics company,

GlobalData’s latest thematic report, “Robotics in Oil and Gas,” highlights the role of major oil and gas companies, such as ADNOC, BP, Eni, Equinor, ExxonMobil, Repsol, Rosneft, Shell, and TotalEnergies in the development and adoption of robotics to enhance safety and productivity on the field.

Woodside and Chevron Asset Swap

14/01/2025 Posted by Matthew.Quinn

On 19 December 2024, both Woodside and Chevron announced their agreement to an asset swap in which Woodside will acquire Chevron’s 16.67% interest in the North West Shelf Project and the North West Shelf Oil Project and it’s 20% interest in the Angel Carbon Capture and Storage Project. In turn, Chevron will acquire Woodside’s interest in 13% interest in the Wheatstone project and 65% interest in the Julimar-Brunello project.

Both companies have indicated that the transactions streamline and focus their respective portfolio’s.

Chevron will make a cash payment to Woodside of up to US$200 million paid at key milestones and contingent of the execution and hand over of Julimar Phase 3.

Two additional Greenhouse Gas Assessment Permits Granted

14/01/2025 Posted by Matthew.Quinn

December 2024 saw the award of two additional Greenhouse Gas Assessment Permits:

These awards take the total number of GHG Assessment Permits within Australia to 17, with all major basins covered.

A GHG assessment permit authorizes the participating companies to explore the permit area for potential GHG storage formations or injection sites.

https://public.neats.nopta.gov.au/Opggs/Title/c83e6e69-55d8-4861-ad39-6b566e90e780

https://public.neats.nopta.gov.au/Opggs/Title/e3819c9d-c272-4774-8c39-6fc46f34aaa2

Beehive Getting Closer

14/01/2025 Posted by Matthew.Quinn

The highly anticipated drilling of the “Beehive” prospect took a step closer on 2 January this year with NOPSEMA accepting the environmental plan for the drilling of up to three exploration and / or appraisal wells on the structure.

Beehive is in Bonaparte Basin WA-488-P and is 100% owned by EOR Resources. The wells are to target a large Carbonate Platform and have a planned total depth of up to 6,000m. Approval is for any time up to 31 December 2029. EOG has stated it intends to drill the prospect in 2025/26.

Previous owners, Melbana have indicated the structure could contain up to 1.4 billion barrels of oil.

Lagging Renewables in North Asia may mean more LNG

09/01/2025 Posted by Dale

By Rick Wilkinson

The North Asian trio of Japan, Korea, and Taiwan play a major role in global LNG markets. According to the International Group of Liquefied Natural Gas Importers, they were the second, third, and fifth largest LNG importers, respectively, in 2024, collectively accounting for one third of global LNG imports.

However, they have been following different trajectories. Japanese LNG demand has been falling while demand has been growing in the other two countries. Japan and Korea are aiming to cut their LNG imports by 2030 as part of their emission reduction strategies.