Latest News

Beehive Getting Closer

14/01/2025 Posted by Matthew.Quinn

The highly anticipated drilling of the “Beehive” prospect took a step closer on 2 January this year with NOPSEMA accepting the environmental plan for the drilling of up to three exploration and / or appraisal wells on the structure.

Beehive is in Bonaparte Basin WA-488-P and is 100% owned by EOR Resources. The wells are to target a large Carbonate Platform and have a planned total depth of up to 6,000m. Approval is for any time up to 31 December 2029. EOG has stated it intends to drill the prospect in 2025/26.

Previous owners, Melbana have indicated the structure could contain up to 1.4 billion barrels of oil.

Lagging Renewables in North Asia may mean more LNG

09/01/2025 Posted by Dale

By Rick Wilkinson

The North Asian trio of Japan, Korea, and Taiwan play a major role in global LNG markets. According to the International Group of Liquefied Natural Gas Importers, they were the second, third, and fifth largest LNG importers, respectively, in 2024, collectively accounting for one third of global LNG imports.

However, they have been following different trajectories. Japanese LNG demand has been falling while demand has been growing in the other two countries. Japan and Korea are aiming to cut their LNG imports by 2030 as part of their emission reduction strategies.

SEAPEX SEC 2025 conference – 6-9th May 2025 – Singapore

09/01/2025 Posted by Helen

PESA are proud to be supporting SEAPEX with the upcoming SEC 2025 conference.

Please visit https://www.seapex.org/seapexconf/ for more information.

Surface interaction changes in minerals for underground hydrogen Storage: Effects of CO2 cushion gas

07/01/2025 Posted by Helen

by Hamid Esfandyari et al

This article was originally published in Renewable Energy 237 (2024) https://doi.org/10.1016/j.renene.2024.121726

Hydrogen (H2) offers a promising solution for the energy transition but storing it on a large scale at the surface poses significant technical and environmental challenges. Underground formations provide a practical alternative for large-scale H2 storage, yet understanding H2 behavior under various subsurface conditions is crucial for optimizing storage capacity and efficiency, which are influenced by rock properties such as wettability.

PESA ETSIG CSIRO CCS Knowledge Transfer Series

PESA / CSIRO CCS Knowledge Transfer Series wraps up

06/01/2025 Posted by Helen

Peter Hoiles – PESA Webinar Coordinator

In early 2023, CSIRO and PESA’s Energy Transition Special Interest Group (ETSIG) joined forces to design a carbon capture and storage (CCS) knowledge transfer series. The aim of the series was to highlight to the PESA audience what is different about CCS compared to what we know about and understand from oil and gas operations. The series commenced in September 2023 and concluded in September 2024, with a total of twelve webinars presented.

AEP Applauds Victoria’s New Gas Supply Attitude but says ‘Words Must be Backed by Action’

11/12/2024 Posted by Dale

YOU Could almost hear the palpable sigh of relief at AEP’s offices in Canberra, albeit with a healthy dose of cynicism as Victoria signalled a refreshed new attitude to resolving the state’s looming gas supply shortage.

“The Victorian Government’s commitment to fast-track approvals for new gas supply is welcome and long overdue,” AEP Chief Executive Samantha McCulloch said in a media release “but will need to be backed by immediate action if the state is to avoid looming gas shortages”.

“Victorian Premier Jacinta Allan’s Economic Growth Statement promises to fast-track new gas extraction, storage and transmission projects alongside renewable projects to “ensure reliable access to gas for Victorian businesses”.

WoodMac Flags Guyana and Suriname for Formidable Future LNG Superpower Potential

10/12/2024 Posted by Dale

Guyana and Suriname are looming as potential and competitive liquefied natural gas (LNG) exporters to their Caribbean neighbours, South America and Southeast Asia, according to research by Wood Mackenzie (WoodMac).

With an estimated 13 trillion cubic feet of discovered non-associated gas in aggregate, the Haimara cluster in Guyana’s Stabroek block and the Sloanea discovery in Suriname’s Block 52 could supply up to 12 million metric tons per annum (MMtpa) of LNG by the next decade, according to WoodMac.

“These sources could deliver this potential LNG supply at a breakeven, excluding shipping and regasification costs, of about US$6/mmbtu (FOB NPV10 breakeven)”, WoodMac said on its website.

Trump’s new Energy Czar is closely Connected to Australian ‘Top End’ Fraccing Companies

10/12/2024 Posted by Dale

By Dale Granger

US President-elect Donald Trump continues to ruffle feathers in Washington by tapping fraccing company executive Chris Wright to be secretary of energy, a key position in his new White House administration and a man with close ties to Australia.

Wright, in his capacity as chief executive of Liberty Energy, is closely linked to Australia as an investor in both Empire Energy and Tamboran Energy’s hydraulic stimulation initiatives in the Betaloo Basin in the Northern Territory.

Trump said in a statement he had picked oil executive and climate change sceptic Wright to be the secretary of energy, a role in which he is expected to promote fossil fuel development and reverse many Biden-era initiatives.

2024 Membership Survey

10/12/2024 Posted by Dale

By Janny Spilsbury-Schakel

Firstly, a big thank you to those of you who completed the survey and helped us to shape how PESA is going to serve its members best. Our response rate was 24%. We got a good spread of responses across all the branches, however, demographically, the 25 to 39 age bracket is underrepresented in the survey when compared to our membership profile, so do bear that in mind when looking at the results!

Our main focus areas for the 2024 survey were:

So, the average PESA member, if there is such a thing, is unsurprisingly still a male geoscientist, with 30+ years of experience.