Industry News

The global transition to clean energy is gaining momentum, heavily relying on renewable technologies such as solar PV cells and wind turbines, alongside energy transition solutions like hydrogen, energy storage, and carbon capture. This shift has triggered an unprecedented surge in demand for critical minerals, posing significant challenges in achieving international energy transition goals, says GlobalData, a leading data and analytics company.

GlobalData’s latest Strategic Intelligence report, Critical Minerals (2024), identifies several main challenges to scaling clean energy technologies: mineral depletion, resource monopolization, geopolitical tensions, and water scarcity.

Martina Raveni, Strategic Intelligence Analyst  at GlobalData, comments: “The near-term depletion of critical minerals raises concerns, especially as instability in the green technologies market causes price volatility.

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Australia’s energy security will be put at risk if decision-makers ignore the science of seismic surveys – a safe and proven technology that is critical for finding and developing new gas supply.

That is the view of Australia Energy Producers (AEP) Chief Executive Samantha McCulloch, who said: “Seismic surveying is a strictly regulated technology that has unlocked Australia’s vast offshore gas resources and delivered reliable energy for millions of Australian homes and businesses for decades.”

“The facts are that Australia’s future energy security will depend on continued exploration for new gas supply to 2050 and beyond,"she added.

“The legislation introduced in the Parliament(recently)is aimed at stopping new gas projects, with no regard for the devastating impact on Australia’s economy and energy security. 

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DUG Technology (DUG) has announced a new partnership with PetroVision aimed at promoting and delivering specialised seismic data processing solutions in Nigeria.

DUG is a global technology company providing high-end geoscience services, advanced analytical software and reliable cloud-based high-performance computing (HPC). PetroVision is an integrated energy consultancy advising on geoscience, engineering and economic aspects in the upstream, midstream and downstream sectors whilst also embracing the energy transition with project work including carbon capture and storage (CCS) and field exploration geochemical sampling for critical minerals such as lithium. 

PetroVision will facilitate operations within Nigeria, while DUG will supply technology and support.

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Geoscience Australia is contributing to global action on seabed mapping by signing a Memorandum of Understanding with The Nippon Foundation-GEBCO Seabed 2030;  in the process becoming the first Australian Government organisation to do so.

Dr James Johnson, Chief Executive Officer of Geoscience Australia, joined Jamie McMichael-Phillips, the Director of Seabed 2030 at Geoscience Australia’s Symonston headquarters for the signing.

“We are thrilled to formalise our partnership with Seabed 2030 and cement our place in the global effort to map the world’s seabed by 2030,” Dr Johnson said.

“Seabed 2030 is an important part of the global effort to...

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The sixth and latest annual East Coast Gas Outlook 2024 from EnergyQuest, finds that the outlook for east coast gas is now entering ‘uncharted energy frontiers’.The new 315-page report is the leading energy consultancy’s annual in-depth analysis of the long-term outlook for the east coast gas market.Gas supply shortfalls are expected for the east coast and Northern Territory (NT) market as soon as 2026, and with increasing certainty and impact from 2028. That much is already well known.

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By Max Williamson

Potential buyers and users of EV’s need to be extremely wary and questioning of the claims, counter claims and promo materials being put out by the vested interests.

If UBER is getting completely out of hybrids for its fleet, there must be economic support for EV’s versus hybrids for higher use operators and commercial fleets.

The second-hand market for older model EV’s, including Teslas is dramatically negatively impacted by the age of the batteries therein, the warranties periods remaining on the batteries and the then version of the EV technologies in those vehicles.

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An airborne gravity survey across southern and eastern Victoria has been completed by Sander Geophysical.

The airborne survey was collaboratively organised through Surveyor-General Victoria within the Department of Transport and Planning (DTP), Geological Survey of Victoria within the Department of Energy, Environment and Climate Action (DEECA) and Geoscience Australia (Commonwealth Government).

The objective of the survey was to collect consistent and evenly distributed gravity measurements. The new gravity data will significantly improve Victoria’s gravity model which is used to provide accurate and reliable heights from GPS positioning.

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Viridien and its partners TGS and Aquila Holdings (under its subsidiary Axxis Multi-client AS) have announced the completion and delivery of the reprocessing of the Utsira ocean bottom node (OBN) seismic survey in the Norwegian North Sea.Viridien said it had reprocessed the resulting data set with its latest OBN imaging technologies, including time-lag full-waveform inversion, and advanced velocity model building techniques, to yield "significant improvements in image resolution and frequency content for fault interpretation and reservoir characterization workflows". https://lnkd.in/gBNDPsTE

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Shearwater Geoservices has been awarded a large 3D seismic survey by PETRONAS in Suriname. The project, covering 6,000 square kilometres, marks the continuation of Shearwater’s commitment to PETRONAS in this frontier area having previously performed acquisition work in Block 52.

The Amazon Warrior has been allocated to the three-month project, commencing in Q4 2024.

“High-quality seismic data is a key enabler for unlocking the vast resource potential of the prolific Suriname-Guyana basin and accelerating exploration activities.

Shearwater’s state-of-the-art technology and capabilities enable safe and efficient acquisition of exploration seismic data with the highest quality for our clients, supporting their ambitions in this exiting area.” said Irene Waage Basili, CEO of Shearwater.

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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.

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