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It’s official – wholesale gas prices fell in 2017

27/02/2018 Posted by Dale

A media report claiming east coast wholesale gas prices jumped 40 per cent last year is simply incorrect, APPEA said in a media release.

In fact, as the latest report to the Council of Australian Governments (COAG) confirmed just two weeks ago, wholesale gas prices fell by six per cent in 2017.

“The report found that wholesale prices fell in all eastern states in 2017,” said APPEA Chief Executive Dr Malcolm Roberts.

“A newspaper article published (recently) confuses the wholesale...

H2Oil & Gas delivers produced water treatment package for plant in Malaysia

27/02/2018 Posted by Dale

H2Oil & Gas, an Aquarion Group company, has completed a contract to design and supply equipment for a produced water treatment plant in Malaysia. The high pressure (117 bar) system reduces the oil in water content from 3000ppm down to <20ppm with an optimized process design that uses the existing gas in the system, eliminating the use of additional fuel gas used on standard Compact Flotation Units. This design, together with a carefully developed layout, produced a low weight compact skid...

CGG GeoConsulting and Petroleum Corporation of Jamaica Announce First Reported Discovery of Live Oil Onshore Jamaica

27/02/2018 Posted by Dale

CGG GeoConsulting and the Petroleum Corporation of Jamaica (PCJ) have announced the discovery of two independent live oil seeps from different parts of the island of Jamaica. This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean. The oil seeps were found during fieldwork for a recently completed multi-client Robertson Study (Red...

Investment of $97bn on top ten offshore oil projects to add over 1.6 million barrels per day by 2025, says GlobalData

27/02/2018 Posted by Dale

Over $151.5bn in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData, a leading data and analytics company. These ten projects, selected from 236 upcoming offshore projects globally, will contribute incremental capacity of 1,613,319 barrels of oil per day to global supply by 2025. Johan Sverdrup in shallow water Norway is the largest with anticipated peak production at 600,512 barrels of...

Top three Saudi oil fields to drive 59% of country’s oil production by 2021

19/02/2018 Posted by Dale

Analysis of Saudi Arabia’s crude oil production shows that over $79.6bn in capital expenditure (capex) would be spent by Saudi Arabia Oil Co on oil projects over the next four years, to ensure that country’s production remains around 11.2 million barrel per day (mmbd) in 2021. The company will have 17 fields producing in 2021, of which 13 are conventional oil fields and four are gas fields producing condensate, according to GlobalData, a leading data and analytics company. Saudi...

New UK grants open for Australian fellows

19/02/2018 Posted by Dale

Brunel University in London will soon offer five short-term fellowships to Australian early career researchers, thanks to a new grant from Universities UK International’s (UUKi) Rutherford Fund. Funded by the UK government’s Department for Business, Energy and Industrial Strategy (BEIS), the new fellows will be tasked with researching resource efficient future cities, the environment, and health. The researchers will be selected from the University of New South Wales, Royal...

Po Valley upgrades maiden 2P reserves to 36.5 bcf for Teodorico.

19/02/2018 Posted by Dale

Po Valley Energy has upgraded its oil and gas reserves and resources for its 100% owned subsidiary Po Valley Operations, with maiden 2P reserves of 36.5 bcf of gas now declared at the company’s offshore Adriatic development Teodorico gas field. Teodorico has the largest gas in place of all of Po Valley’s gas fields and is at an advanced stage of assessment and is ready for development. The company received a preliminary award of the Teodorico Production Concession last year and is...

New CGG GeoSoftware Technology ‘Drives Greater E&P Efficiency’

19/02/2018 Posted by Dale

CGG GeoSoftware has announced new releases across its entire geoscience portfolio. Its complementary HampsonRussell, Jason, PowerLog, InsightEarth, VelPro, and EarthModel FT solutions are the industry’s preferred set of tools and support for multi-disciplinary teamwork at every stage from exploration and development to life-of-field production management. In a media release CGG said recent developments “bring exciting new capabilities within each individual solution while offering...

AWU’s gas campaign – ‘a bad idea reheated and served up again’

12/02/2018 Posted by Dale

The Australian Petroleum Production and Exploration Association has torpedoed the ‘Shipping Away Our Competitive Advantage’ report released by the Australian Workers’ Union, saying the release “confirms that the AWU’s campaign to control gas exports is disconnected from economic reality”. “The AWU report’s central claims do not withstand scrutiny,” said APPEA Chief Executive Dr Malcolm Roberts. “The report ignores the latest independent data, such as the Gas Price...

The Eagle has Landed – in Carnarvon’s basket

12/02/2018 Posted by Dale

Carnarvon Petroleum has been awarded the AC/P63 permit within the Southern Vulcan Sub-basin, on Western Australia’s North West Shelf, which will be known as the Eagle Project. This 585km² permit is in shallow water and contains multiple attractive leads in the same proven oil producing basin that includes the Talbot, Jabiru, and Cassini / Challis oil fields. Carnarvon said prides itself on applying leading technologies to its technical work to assist in unlocking an area’s...