Subsurface Imaging, part of CGG’s Geoscience division, has been awarded a large-scale seismic imaging project in the offshore Orphan Basin in Eastern Canada by BHP. CGG said that in line with its continued investments in high-end imaging technology, supercomputing capacity and digitalization, the company will employ its industry-leading FWI and least-squares migration algorithms over the entire survey area of more than 10,000 km². Through these advanced technologies and close collaboration with the client’s interpretation and imaging geophysicists, CGG fully commits to providing a step-change in subsurface imaging in a timely manner to support E&P investment decisions, CGG said.
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Australia hits one billion barrels record production milestone
Australia hit a record in petroleum production in 2018-19 to a peak of 1,010 million barrels of oil equivalent in a milestone moment according to data compiled by energy consulstancy, EnergyQuest. This was primarily driven by record gas production, which was up 16% to 5,082 PJ as LNG export revenue soared 61% to %50 billion with production also up 22% to a record 75 million tonnes. From east to west production records were recorded with east coast gas output up 2% to 1,865PJ and coal seam gas also summiting, up 5% to 1,461PJ.
‘New WA EPA guidelines must not risk investment’
APPEA has lodged a submission to the Western Australian Environmental Protection Authority’s Background Paper on Greenhouse Gas Assessment Guidance, urging national and international emissions reduction policies over ad-hoc regional measures. APPEA Chief Executive Andrew McConville said the effective and efficient management of greenhouse gas emissions was an issue the oil and gas industry took very seriously, and APPEA and its members have been engaged constructively in policy development for more than 25 years.
Searcher announces Offshore Peru Multi-client Campaign
Searcher has reached agreement with Perupetro to produce four new multi-client projects as part of its Offshore Peru Multi-client Campaign. Searcher said this would be the first time any single company has presented the industry with the opportunity to interact with such an expansive collection of “highly enhanced exploration data which will have benefited from modern processing, interpretation and digitising techniques”.
CGG begins new 3D broadband survey in deepwater Brazil
CGG has commenced acquisition of Nebula 3D, a new, large, long-offset BroadSeis™ survey located in the Campos and Santos Basins, offshore Brazil. With an initial focus on Brazil’s 15th License Round blocks, the data is being acquired by the Geo Caribbean and a portion of the survey will provide 3D data coverage where no other 3D data currently exists. CGG said the company’s Geoscience’s Subsurface Imaging Centre in Rio will employ the latest, most advanced data processing techniques to deliver exceptional imaging of pre-salt structures in these prolific basins.
Gulf of Mexico Lease Sale Yields More Than $159 Million in High Bids
United States Interior’s Deputy Assistant Secretary for Land and Minerals Management Andrea Travnicek has announced that region-wide Gulf of Mexico Lease Sale 253 generated $159,386,761 in high bids for 151 tracts covering 835,006 acres in federal waters of the Gulf of Mexico. A total of 27 companies participated in the lease sale, submitting $174,922,200 in all bids. “We are excited about the results from today’s lease sale, which show a continued upward trend for the year. The total from today’s lease sale and the March sale is the highest since 2015 for high bids,” said Deputy Assistant Secretary Travnicek.
Oil and gas sector tops Forbes 2019 list of world’s largest public firms in revenue generation
Oil and gas edged past technology and communication to emerge as the top sector in the Forbes 2019 list of world’s largest public companies with a 16.2% year-on-year (YoY) growth in revenue generation, according to data and analytics company, GlobalData. GlobalData analyzed the year-on-year change in sales and profits of the top 10 sectors by sales and the geographical spread of Forbes Global 2000 largest public companies and normalized into appropriate sectors.
US oil boom breaks records
The United States leads the world in crude oil production and continues to set new records. The US produced an average 12.2 million barrels of crude oil per day in April. That marked the first time monthly oil production surpassed 12 million barrels per day, according to the U.S. Energy Information Administration. “We are in the midst of a transformational energy era with America leading the world in oil and gas production,” Secretary of Energy Rick Perry said in a July 16 tweet. American ingenuity sparked the shale oil revolution, as U.S.
Shearwater completes survey over Shell’s Pensacola prospect
Shell, in conjunction with non-operated partner Cluff Natural Resources, has completed a 3D seismic survey extending to approximately 420 km2 over the Pensacola prospect on Licence P2252 in the Southern North Sea, offshore the UK. The survey, conducted by Shearwater GeoServices using the Polar Express, was completed on time and with no adverse incidents on 21 August, Cluff Natural Resources said. Under the farm-in agreement, Shell are paying 100% of costs of the seismic acquisition, processing and interpretation work programme until the end of 2020 or until a well investment decision is made.
2019 PESA HORSTMAN FEDERAL POSTGRADUATE SCHOLARSHIP
PESA is offering a new postgraduate scholarship to eligible students currently conducting research in a petroleum geoscience related project within Australia. The award, known as the Horstman Federal Postgraduate Scholarship, consists of an annual prize of $5000 to the successful recipient as part of PESA’s program to promote and encourage petroleum geoscience research and education in Australia.
This award is open to postgraduate research students enrolled in a PhD or Masters program at a recognised Australian tertiary institution. Research topics must have a petroleum geoscience focus and have direct relevance to the exploration, development or production of petroleum in Australia.