Bright and early on a Sunday morning 20 intrepid PESA members met at the Boab tree in Kings park ready to embark on a tour of the Swan Valley, and an intellectual journey that allowed for the geography of our working lives to be mapped onto the geology, geography and scale of the city we live in. The morning began with an open air “powerpoint” presentation, by trip leaders Simon Lang and Neil Marshall.
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TGS kindly donates stand-up paddle board to PESA WA Branch for an auction to support the student members
TGS are pleased to donate a 9-foot long stand-up paddle board (valued at $2000) to PESA WA Branch to raise funds to support our student members. TGS recognises that students are the future of our industry and their contribution provides an opportunity for someone in the PESA community to help support the students’ training efforts. For the first time in history, PESA WA Branch will be holding a silent auction for the stand-up paddle board and the winner will be announced towards the end of the Winter Warmer social event on the 20th of July.
APPEA calls out fake news on Australian wholesale gas prices
The latest international survey of wholesale gas prices confirms that Australian prices are amongst the lowest in the Asia region, according to the Association of Petroleum Production and Exploration Association (APPEA). This follows the International Gas Union’s Wholesale Gas Price Survey 2018 revealing that the average wholesale gas price in Australia last year ($US4.62/MMBTU[1]) was about 40 per cent less than the average wholesale price for the Asia‑Pacific region and around one-third less than the average wholesale price in Asia. Australia’s leading trade partners Japan, South Korea and China all paid average wholesale gas prices between $US7 and over $US8/MMBTU.
Future environmental leaders receive scholarships from Harry Butler Institute
Six future environmental custodians have earned a unique opportunity to protect the wilderness with their Honours studies at Murdoch University. Ebony Cowan, Kyle Stewart, Lauren Peck, Monique Stafford-Smith, Megan Evans and Nicholas Watson received scholarships from the Harry Butler Institute, a research partnership between Murdoch University and global energy producer Chevron, to ensure the co-existence of biodiversity with business and community at different locations in Western Australia.
Bass Oil negotiates extension terms for acquisition of Indonesian oil field
Bass Oil Limited says it has negotiated an extension of its settlement terms with Cooper Energy for the acquisition of its 55% interest in the Tangai-Sukananti KSO in South Sumatra. Under the agreed new payback terms, the timetable for a third payment of $500,000, due 30 September this year, has been deferred until 31 March next year. The fourth and final payment of $770,000, due to be paid by Bass to Cooper Energy by 31 December this year, has now been deferred until 30 June 2019.
Australian Gas Infrastructure Group awarded $170 million N.T. natural gas pipeline contract
Australian Gas Infrastructure Group (AGIG) has been awarded the contract to build a new $170 million Northern Territory gas pipeline for Newmont Mining Corporation. The contract is for AGIG to build, own and operate the new 440-kilometre pipeline which will transport natural gas to Newmont’s Tanami mine sites, about 540km north-west of Alice Springs, in the Northern Territory. The pipeline – to be called the Tanami Gas Pipeline – will connect to the existing Amadeus Gas Pipeline, about 180km north-west of Alice Springs, and link up with supply of gas to Newmont’s Tanami facilities.
Quantitative Seismic Stratigraphy Talk by 2017 Woodside – PESA WA PhD Scholarship Winner
We are already halfway through 2018 and PESA WA Branch is still doing very well for the technical lunch series, with special gratitude to our four sponsors: Spectrum (Platinum), CGG (Gold), Searcher Seismic (Gold) and DUG (Gold). The branch announcements by Helen Debenham, WA Branch President, included the upcoming July technical talk by Larry Tilbury from Woodside on Pluto 4D’s outstanding success on Thursday 19th July. This will then be followed by our annual Winter Warmer social event at Ku De Ta on Friday 20th July – Keep an eye out for this event!
PESA – ASEG WA Mentoring Program Kick-off Session
The PESA – ASEG WA Mentoring Program has seen a fantastic response from WA PESA and WA ASEG members. The mentoring program has successfully linked up 20 mentor-mentee pairs from diverse backgrounds, ages and professional experiences. In May, Simon Molyneux facilitated the Mentees and Mentors framing sessions. These sessions aimed to explain what a mentoring program is, what are the foundations of a mentoring program, to describe an ideal mentor-mentee relationship and to explain what mentors and mentees are expected to do.
Still ‘plenty of discoveries to be made’ on the Norwegian shelf
The Norwegian Petroleum Directorate (NPD) says new and larger discoveries will have to be made for Norway to maintain production of oil and gas after the mid-2020s. This was revealed in the Norwegian regulator’s 2018 Resource Report for Exploration, published on 21 June. The report concludes that there is much remaining oil and gas on the Norwegian shelf, providing significant opportunities in both mature and less explored areas. Increased knowledge, more and improved data, new work methods and new technology will create new exploration possibilities and can yield more profitable discoveries.
Oil demand tipped to top 2 million barrels a day extra in 2H
The worst kept secret in the oil world this week is how much Russia and Saudi Arabia plan to increase output to cool rising crude prices in the coming weeks, the popular estimation suggesting that the spigots could open up to about 700,000 barrels a day in the second half of 2018. Brent crude fell over 1.5% to US$74.21 at the start of this week and was 1.8% down on their last close, having initially risen on Friday after the OPEC agreement had failed to meet confirmed expectations of a 1 to 1.