PESA Gazette

So near, yet so FAR as Woodside flows first offshore oil from Senegal’s Sangomar

12/07/2024 Posted by Dale

Former FAR Energy MD Cath Norman and associates of the once revered junior Melbourne explorer would be forgiven for feeling a touch of nostalgic envy in June as Woodside flowed first oil – as well as the first cargoes of black gold offshore Senegal - from the Sangomar field.

Instead, the reaction from afar was one of jubilation as former colleagues at the company reacted with euphoria, even though FAR was no longer part of the journey crossing the finish line celebrating the climax of an odyssey that FAR had starred in at the very beginning.

“It is indeed a historic day for Senegal and I congratulate #Woodside and #Petrosen for achieving this milestone,” Norman said in a post on her Linkedin, social media site.

Hive of activities keeps SA/NT as active and inspired as ever

11/07/2024 Posted by Dale

At the June technical meeting one of the long-standing members of the SA/NTBranch, Geoff Wood received his certificate for 40 years of continuous membership from Branch President, John Kaldi – congratulations Geoff!

Under the brilliant leadership of the PESA SA/NT Branch Vice President, Paul Strong, 2024 has seenthe regular monthly lunchtime meetings continue with a smorgasbord of topics which are highlyrecommended for other branches and webinars.

Triangle Energy strikes a chord with Canberra for CCS project to go ahead in the Perth Basin

11/07/2024 Posted by Dale

Triangle Energy has been given the green light to develop a carbon sequestration (CCS) project at the company’s WA 31-L icence area in the Perth Basin.

The company announced that the joint venture’s application for a greenhouse gas storage formation over the WA 31-L licence area had been approved by the Commonwealth Minister for Resources, Madeleine King.

The approval has triggered the sale of Triangle’s 78.75% interest in the Cliff Head project to Pilot Energy, but. until approval has been granted by the regulator, Triangle will continue to operate the field.

Triangle said that its employees would continue work at the Cliff Head field as it transitions from oil production to the CCS project and Triangle would support ongoing operations of the Cliff Head oil field until the transaction was completed.

The Australian Government ‘might not be done’ with market intervention

10/07/2024 Posted by Dale

Australia appears to be caught between a rock and a hard place facing an ever-encroaching gas cum energy crisis. Rick Wilkinson, CEO of EnergyQuest, and a man well oiled with a wealth of data deliverables, says the Lucky Country has four options, none of which are easy, to keep the wolves off the door.

In the EnergyQuest Monthly Report for May, Wilkinson said it was well known that the east coast domestic gas market is heading towards annual supply shortfalls in 2028, with peak supply potentially running short sooner.

He then posed the question:

Permits in place puts PGS in position to start large 4D data acquisition project for Petrobras

10/07/2024 Posted by Dale

The Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) has issued the final permit for PGS to conduct a large 4D survey over the Barracuda Caratinga fields offshore Brazil.

PGS announced the 4D contract award in December 2022 and the original project start-up was scheduled for June/July last year. To optimize vessel resources during the 2023 summer season, the Ramform Victory was reactivated and earmarked for this project. While permitting was pending she undertook a series of MultiClient programs.

At press time The Ramform Victory had completed final preparations and was on her way from another data acquisition program for Petrobras.

Wartsila launches world’s first large scale hydrogen ready power plant

10/07/2024 Posted by Dale

Technology group Wärtsilä has launched the world’s first large-scale, 100% hydrogen-ready engine power plant, to enable the "net-zero" power systems of tomorrow.

In a media release Wartsilis said the IEA World Energy Outlook 2023 had shown shown that hydrogen "is an essential component of our future power systems". According to the report, the pathway to reach net zero emissions by 2050 would require 17 Mt of hydrogen to be consumed by power generation in 2030, reaching 51 Mt by 2050.

Wartsilia said the deployment of renewables worldwide is set to double by the end of this decade, creating the right conditions for excess clean electricity to be used for production of hydrogen-based, carbon neutral fuels, and for enabling 100% renewable power systems.

Midnight hour to gas famine ticks one year closer and is now set to strike in 2027 as ACCC calls for ‘urgent action’

10/07/2024 Posted by Dale

A report from the Australian Competition and Consumer Commission (ACCC) has intensified warnings of looming gas shortfalls and urged governments at all levels to “focus on removing unnecessary impediments to developing new gas resources”.

Australian Energy Producers Chief Executive Samantha McCulloch reacted to the latest edition of the Gas Inquiry report and warned that governments must act urgently to fast-track new gas supply projects, with shortfalls forecast to hit in 2027, a year earlier than previously estimated.

“Governments cannot continue to ignore the warnings.

Beach delivers on Victoria’s first gas production licence granted in 10-years

10/07/2024 Posted by Dale

Despite Victoria’s s reputation as the “basket case” of gas supply conundrums in Australia, Beach Energy has driven first gas from the Enterprise gas field to the Otway Gas plant over the line to deliver on the company's commitment to the State’s first production licence granted in 10-years.

A successful connection of the Enterprise gas field to the Otway Gas Plant was completed on 12 June after Beach had signed a Gas Sales Agreement (GSA) to supply Origin Energy with gas from the Enterprise field until the end of 2026.

The Enterprise field was discovered in 2021 and resulted in a 2P gas and associated liquids reserves booking of 34 MMboe gross (20 MMboe net to Beach), including 2P gas reserves of 161 PJ (gross).

Decarbonising the Pilbara-to-Asia Iron Ore Trade Route Study Demonstrates ‘Pathway to Net-Zero Emissions’

10/07/2024 Posted by Dale

In November 2023 PCF, Oceania and RINA signed an MoU to collaborate on studies to define the commercial and emissions reduction benefits their combined concepts could deliver to ship owners and charterers for the Pilbara to Asia dry-bulk minerals export trade route. The Joint Study has now been completed.

The findings demonstrate an accessible and achievable pathway to Net-Zero Emissions for LNG, on a Well-to-Wake basis, for international shipping on this trade. The study presents a flexible and commercially attractive IMO compliant marine fuel strategy to ship owners, operators and charterers amidst competing alternative fuel.

Oil and gas industry embraces Queensland Exploration Acreage Awards rollout

10/07/2024 Posted by Dale

Australia’s oil and gas industry has welcomed the Queensland Government’s “continued recognition of energy security at a time of heightened gas demand” keeping Australian households warm and businesses running.

This comes after the Sunshine State had wrapped up six new exploration tenders for petroleum and gas across the Bowen and Surat basins, which AEP QLD Director Keld Knudsen said had come at an important time following the Australian Energy Market Operator’s warning of east coast gas supply shortages.

The six new tenders were awarded to; Comet Ridge (2), Senex Energy (2), State Gas and Denison Gas, completing a tender package that had opened in May 2020 as part of the Queensland Exploration initiative and covered an area of 6,746 km².