PGS has been awarded a 4D contract in Northern Europe for an independent energy company. The Ramform Tethys is scheduled to mobilize for the survey in late April and the project has a total duration of approximately 30 days.
“We are very pleased with this contract award, marking the start of the Northern Europe summer season for the Ramform Tethys. By combining the Ramform acquisition platform with our proprietary multi-sensor GeoStreamer technology we will quickly provide the client...
Shearwater Geoservices has completed the refinancing of its long-term secured debt portfolio.
Shearwater Geoservices had issued a five-year US$300 million senior secured first lien bond and then executed a new $US300 million five-year bank term loan with net proceeds used to repay previous secured debt facilities. The bonds rank pari passu with the term loan. Shearwater has also established a US$50 million revolving credit facility (RCF) and a US$50 million guarantee facility.
“Shearwater...
CGG has announced the first major sale - by Sercel - of the Sensing & Monitoring business line of its next-generation 528™ cable-based land acquisition system to the Turkish Petroleum International Corporation (TPIC).
CGG said the client would deploy the system, representing a total of 8,000 channels, on a 3D seismic survey in Turkey, across challenging, semi-arid terrain.
Delivery of the system commenced at the end of March, with the survey expected to start in Q3 2024.
The sale...
Iran's launch of over 300 drones and missiles on Israel in the first ever direct attack on the Israeli soil from Iranian territory has increased geopoliticsl risk in the oil market, according to Rystad Energy's oil market update in reaction to the accelerating conflict.
Rystad Energy Senior Vice President Jorge Leon said that although the vast majority of drones and missiles were intercepted, no Israeli fatalities were reported and only minor damage at an Israeli military base was...
The Australian Competition and Consumer Commission (ACCC) has confirmed that Australia’s gas industry continues to deliver on its commitment to the domestic market.
However, in a new report the ACCC has again highlighted concerns that southern states are relying on gas from the north to keep the lights on.
Australian Energy Producers today said the ACCC Gas Inquiry March 2024 Interim Report reaffirmed the industry’s role in providing reliable and affordable energy to Australian...
Concerns over the east coast gas market have deepened, with warnings gas generators may soon burn diesel at extra cost and emissions to plug energy shortages unless new gas supply is developed.
Energy’s gas and LNG market update from senior analyst, Masanori Odaka:
Spot prices in Asia remain under $10 per million British thermal units (MMBtu), well below those seen in the same period in 2022 and 2023, leading to revised optimization demand from buyers.
In general, gas demand and consumption in the northern hemisphere is set to fall in the coming weeks as most countries enter the spring season.
In Europe, April prices on the Netherlands-based Title Transfer Facility (TTF) fell 9.8%...
Harvester Energy (UK) Ltd, a wholly owned subsidiary of Harvester Energy Pty Ltd, has been awarded two blocks in the North Sea with confirmed oil reserves ideally suited to the company’s patented small-field development system.
Shearwater has been awarded a contract for advancing Carbon Capture and Storage (CCS) capabilities in the United Kingdom by Spirit Energy.
The buzz around natural hydrogen – dubbed white or gold hydrogen – is gaining global momentum as a potential gamechanger in the hunt for cost-effective, low-carbon energy sources. Rystad Energy research shows that at the end of last year, 40 companies were searching for natural hydrogen deposits, up from just 10 in 2020. Currently, exploratory efforts are underway in Australia, the US, Spain, France, Albania, Colombia, South Korea and Canada.
One of the most promising elements of...