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CGG STARTS ESPIRITO SANTOS IV SURVEY OFF BRAZIL

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CGG has announced the start of work on Espirito Santo IV, a large BroadSeis™ 3D multi-client survey in the deep and ultra-deep waters of the Espirito Santo Basin offshore Brazil. The Oceanic Champion is acquiring the survey which is expected to take seven months and will cover 10,300 sq km and be processed at CGG’s Rio de Janeiro Subsurface Imaging center. ‘The high-end broadband sequence will include the latest 3D deghosting, Full-Waveform Inversion (FWI) velocity modeling and...

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Giant Ichthys Venturer FPSO is moored

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The INPEX-operated Ichthys LNG Project’s floating production, storage and offloading facility (FPSO) has been safely moored in the Ichthys Field, 220 kilometres off the north coast of Western Australia. INPEX announced that the 336-metre long FPSO, named Ichthys Venturer, longer than three soccer fields and designed for 40 years of operations without being dry docked, had reached Australia in mid-August and was moored on August 24. “The safe and efficient mooring of the Ichthys...

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AGL to sell gas assets to China

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AGL Energy Limited is selling its North Queensland gas assets to a consortium comprising Chinese gas distribution company Shandong Order Gas Co and Australia energy investment company, Orient Energy. The assets comprise AGL’s 50% interest in each of the Moranbah Gas Project Joint Venture and the North Queensland Energy Joint Venture and AGL’s participation rights in the ATP1103 exploration licence located in the Bowen Basin. The Chinese investor backed Orient Energy is believed to...

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Woodside brings Persephone online

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Woodside has brought its Persephone project online six months ahead of schedule. This was announced by BP, one of six partners with a 16.67% interest in the project along with BHP, Chevron, Shell, Mitsubishi-Mitsui and Woodside. BP said production from five of seven major upstream projects targeted for production in 2017 were now online, with Juniper, offshore Trinidad, and the Woodside-operated Persephone the latest to begin production. This followed the start-ups of the first phase...

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Magseis goes back to black in second quarter

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Norwegian ocean bottom Seismic services provider Magseis returned to profitability in the second quarter of 2017 as revenues rose to $19.4 million from work done in Saudi Arabia and Norway. The company said its survey for Saudi Aramco with the Artemis Athene vessel in the Red Sea, as well as OBN work for ConocoPhillips in the Eldfisk field, off Norway, had booted revenue substantially compared to prior year’s 2Q revenue of $7.7 million. Magseis posted a profit of $3.3 million for the...

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‘Don’t kill the golden gas goose’

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The latest Reserve Bank Statement on Monetary Policy, which highlights the key role LNG exports are playing in Australia’s economic growth, deserves more attention in the polarised political debate about the east coast gas market. APPEA Chief Executive Dr Malcolm Roberts said the statement confirms how significant LNG exports are to sustaining economic growth in Australia. The RBA found: “LNG exports are expected to contribute almost ½ percentage point directly to annual GDP...

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Woodside to shut down Enfield oil field

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Woodside has begun the process of ceasing production from the Enfield oil field in production license WA-28-L off Western Australia and remove the Nganhurra FPSO from the area. The Perth-headquartered oil and gas company has submitted an environmental plan with NOPSEMA to cease production and decommission, dismantle and remove facilities from the oil field, located approximately 52km north-west of Exmouth. Developed using subsea wells, manifolds and flowline systems tied back to the...

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Spectrum increases revenue and slashes losses

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Spectrum has substantially increased revenue and slashed losses in the second quarter of 2017, the Norwegian company has revealed in its quarterly report. Spectrum said that its net loss had dropped to $2.98 million in this year’s second quarter from $10.99 million in the corresponding period a year ago. The company’s net multi-client revenues increased by 130% to $30.4 million in the second quarter of 2017 from $13.2 million in the same period of 2016. The greatest portion of...

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AWE strikes gas at Waitsia in the Perth Basin

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AWE Limited has toasted the taste of hydrocarbons with its appraisal of the Waitsia gas field north of Perth successfully encountering gas at the first target level. The company reported that the Waitsia-4 appraisal well has successfully intersected the Kingia formation, with good gas shows observed and wireline logs to be acquired to confirm reservoir quality. The well is now drilling towards the second primary target, the High Cliff Sandstone, and is expected to take five weeks to...

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WA onshore release areas for petroleum exploration

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The Department of Mines, Industry Regulation and Safety (DMIRS) continues to promote the petroleum potential of Western Australia’s vast sedimentary basins using a specific area release system. On 16 May 2017, DMIRS gazetted a total of five onshore release areas in the central and southern Canning Basin (Fig.1). Release area size ranges from 5324 km2 to 6667 km2. This gazettal was timed to coincide with the 2017 APPEA Conference in Pert, reports Richard Bruce, DMIRS exploration geologist...

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