PESA Gazette

Gina Rinehart scoops up MinRes’s Onshore Assets

05/11/2024 Posted by Dale

Gina Rinehart, Australia’s richest woman and probably the country’s richest person, is putting her money on a gas future by acquiring MinRes’s onshore oil and gas assets in the Perth and The Carnarvon Basins for $1.1 billion.

A s part of the binding Sale and Purchase Agreement Hancock Prospecting will acquire 100% ownership of MinRes's Exploration Permits 368 and 426 in the Perth Basin, with two Joint Venture Agreements established for the remaining onshore Perth Basin and Carnarvon Basin exploration acreage..

MinRes's published maiden resources for the Lockyer Gas Project and Erregulla oil Project reflects one of the largest onshore gas and oil discoveries in Western Australia, and the company had reportedly been reviewing options to commercialise its gas exploration acreage.

Keystone State will open Door to The White House with Fossil Fuel and Fraccing a Focal Point

03/11/2024 Posted by Dale

By Dale Granger

With the 2024 US election on the cusp of being announced, energy is once again front and centre in the tussle between Kamala Harris’s Democrats and Donald Trump’s MAGA movement for the keys of the White House.

At the time of going to press the election was balanced on a knife edge with all eyes focussed on Pennsylvania’s 19 electoral college votes, notably the prolific Utica and Marcellus shale basins, fraccing and the other “swing states”: Arizona, Georgia Michigan, Nevada, North Carolina, Wisconsin and Nevada, that have traditionally defined USA ballot box battles, boasting an accumulative 93 electoral college votes and perceived as purple with the potential to flip either red or blue.

Petrobras Extends the Life of Oil Projects in Brazil

01/11/2024 Posted by Dale

Petrobras has made a final investment decision (FID) to expedite the second development phase of two oil fields in the pre-salt Santos Basin off the coast of Brazil.

Petrobras’ FID for the second development phase of the Atapu and Sépia fields enables Seatrium to. proceed with two newbuild contracts, valued at approximately S$11 billion ($8.15 billion), for the construction of the FPSOs P-84 and P-85. Petrobras holds a 65.7% stake in the shared reservoir of Atapu with Shell (16.7%), TotalEnergies (15%), Petrogal Brasil (1.7%) and Pré-Sal Petróleo S.A (PPSA) (0,9%) holding the balance.

Nicolas Terraz, President of...

QLD Branch Unveils New Look for QLD SYmposium

31/10/2024 Posted by Dale

Attendees at this year’s PESA QLD Branch Symposium were first to see items featuring thenewly rebranded PESA Symposium artwork, designed by Leah Cummins of Bunya Designs.Leah, had an extensive career at Origin Energy, is now producing art through her ownbusiness www.bunyadesigns.com.au. Leah is a proud Mayi woman from North-WesternQueensland and described the meaning of new-look PESA QLD symposium artwork asfollows; “The large circles represent the states and territories, the contour lines represent thland and ocean, the kangaroo feet represent moving forward never backwards.”Judging by attendee feedback on the day, the new branding looks to be a success!

Perth Wins Bid to Host 2026 Global Carbon Capture Conference

31/10/2024 Posted by Dale

The Australian oil and gas sector’s leadership in carbon capture, utilisation and storage (CCUS) - a key emissions reductions technology - is set to be showcased on the world stage.

Australian Energy Producers is pleased to announce it will co-host the world’s leading CCUS conference in Perth in 2026, in partnership with the CSIRO, CO2CRC and the Department of Climate Change, Energy, the Environment and Water.

The Greenhouse Gas Control Technologies (GHGT) Conference, run by the IEA Greenhouse Gas R&D Programme, brings together over 1,000 CCUS researchers, industry leaders, government officials, and stakeholders from around the world to discuss and share the latest developments with the technology.

‘Decisive Action needed to Achieve Net Zero and 1.5C Warming Scenario as World is on Path for 2.5C to 3C Global Warming Says Wood Mackenzie

30/10/2024 Posted by Dale

Analysis shows US$78 trillion needed to achieve net zero and 1.5 C warming scenario

A string of global shocks has likely put 2030 emissions reduction targets out of reach. But with decisive action, there is still time to reach net zero emissions by 2050, according to Wood Mackenzie’s ‘Energy Transition Outlook’ report, a milestone assessment of the global journey towards a lower carbon future.

The new report analyses four different pathways for the energy and natural resources sector – Wood Mackenzie’s base case (2.5-degrees), country pledges scenario (2-degrees), net zero 2050 scenario (1.5-degrees) and delayed transition scenario (3-degrees).*

KEY FINDINGS:

Queensand’s Kat Gioseffi Receives PESA Meritorious Service Award

30/10/2024 Posted by Dale

PESA (Qld) Branch committee member and Santos Geologist, Katherine (Kat) Gioseffi, was the successful recipient of a PESA Meritorious Service Award (MSA) for 2024 in recognition of her unwavering passion for energy geoscience and her dedication to increasing society participation among early-career graduates.

Kat, who received her MSA at the Australian Energy Producers Conference and Exhibition in Perth in May, was nominated by the PESA (Qld) Branch in recognition of her steadfast pursuit of recruiting and retaining students and young career professionals to the upstream resources industry.

Kat commenced her support of PESA in 2014 as a student member, during which time she was the QUT recipient of the John Draper Award in recognition of her high academic achievement in the fields of sedimentology and stratigraphy.

TotalEnergies Makes new Gas Condensate Discovery in Offshore Harald Field

30/10/2024 Posted by Dale

TotalEnergies has announced that the Harald East Middle Jurassic nearby exploration well (HEMJ-1X) has discovered additional gas condensate resources in the Harald field, in the Danish North Sea.

Located in shallow waters, 25km off the west coast of Denmark, the HEMJ-1X well was drilled in the Eastern part of Harald field and encountered 48meters of net gas condensate pay in a good quality reservoir.

The HEMJ-1X well will be immediately connected to the Harald platform and is expected to start producing before the end of the year through the existing Harald and Tyra facilities.

"The success of the Harald East Middle Jurassic well, nearby our Harald facilities in Denmark, demonstrates the strength of our Exploration strategy.

Gas Industry Congratulates David Crisafulli

28/10/2024 Posted by Dale

Queensland’s oil and gas industry congratulates Premier David Crisafulli and looks forward to working with the incoming LNP Government on the sector’s strategic plan for economic and energy security.

The gas sector is a major contributor to the Queensland economy, delivering around $1.4 billion in government revenue each year and supporting 67,600 Queensland jobs. In 2023-24, the industry spent $3.9 billion with 3,477 Queensland businesses, predominantly in regional parts of the state.

Australian Energy Producers today committed to work with the new Premier and his government to realise the full potential of the state’s gas sector.

The industry’s strategic plan Queensland natural gas: A plan for economic and energy securityunderscored the importance of natural gas to the state’s economic prosperity, energy security and net zero emissions future.

Unlocking the Potential of Carbon Capture

27/10/2024 Posted by Dale

EnergyQuest has released released a detailed, independent review of Australia’s carbon capture, utilisation and storage industry.The report, Unlocking the Potential of Carbon Capture, examines why CCUS is necessary, the key factors for successful project execution, and the current status and outlook of CCUS (including CCS) projects for Australia."Australia is falling behind and could lose a golden opportunity in carbon captureAustralia is already home to two world class carbon capture and storage (CCS) projects - one at the Chevron operated Gorgon project, WA, and the other operated by Santos at Moomba, SA," said Rick Wilkinson, EnerygyQuest CEO.

The report highlights CCUS as a critically important part of achieving the 2050 net-zero greenhouse gas emissions target.