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Australian Energy Producers Chief Executive Samantha McCulloch closing address to the 2024 Conference & Exhibition

25/05/2024 Posted by Dale

What a fantastic week it has been.

Full of compelling, informative and thought-provoking presentations and conversations.

Congratulations to all our award recipient, too. There is some outstanding work being done across our industry, and it’s great to acknowledge and celebrate it.

As our 2024 conference comes to close, we have much to reflect on, and much to be proud of.

I have been encouraged to see this week, throughout the conference – in the plenary sessions, the technical presentations, the conversations on the exhibition floor – that the optimism I have for the future of our industry is shared by so many of you.

CGG Changes Name to Viridien

18/05/2024 Posted by Dale

At the Annual General Meeting on May 15, 2024, shareholders approved the resolution to change the company’s corporate name from CGG to Viridien.

Sophie Zurquiyah, CEO, Viridien, said: “Our new name, Viridien, connects our company’s history to our future, confidently positioning us for accelerated growth as an Advanced Technology, Digital and Earth Data Company.”

To further support its growth strategy, the company will launch the new Viridien brand on 10th June at the upcoming EAGE Annual Conference in Oslo, further strengthening its focus across a portfolio of solutions including the Core businesses of Geoscience, Earth Data and Sensing & Monitoring, as well as new offerings in both the Low Carbon markets of Minerals & Mining and CCS, and markets beyond energy in High-Performance Computing (HPC) and Infrastructure Monitoring.

Australian Natural Hydrogen Conference – the call for Papers Goes Out

12/05/2024 Posted by Dale

The Australian Natural Hydrogen Conference will take place at the Adelaide Hills Convention Centre from October 29-31 and organisers are calling for papers to enrich the narrative about this fast emerging and fascinating energy source.

Natural hydrogen is emerging as potentially one of the most abundant and cost-effective forms of hydrogen and has a key role in the world’s drive to carbon zero.

Australia has been one of the early movers and recent discoveries here have led to important understanding by innovative thinkers – and the Australian Natural Hydrogen Association (NH2A) wants to ensure that knowledge is widely shared.

CGG Launches AI Cloud Solution Powered by NVIDIA for Optimized AI and HPC Workloads

12/05/2024 Posted by Dale

CGG has announced the launch of its AI Cloud solution designed to meet the needs of data-intensive industries - including life sciences, digital media, manufacturing and geoscience - that seek to optimize and accelerate their demanding and resource-heavy AI workloads.

CGG’s new AI Cloud solution combines the latest high-performance architecture, including cutting-edge NVIDIA H100 Tensor Core GPUs fully configured and optimized for AI fine-tuning and inference, with a pre-installed software environment that can be tailored for each client.

Future Gas Strategy ‘confirms critical role of gas in Australia’s energy security’

12/05/2024 Posted by Dale

The Australian Government’s Future Gas Strategy recognises the critical role of natural gas for Australia’s energy security in a net zero economy to 2050 and beyond, and that continued investment in new gas supply is needed.

This was the joyous reaction of Australian Energy Producers Chief Executive Samantha McCulloch who said the Strategy, announced last week, should now provide clear direction on national energy policy that supports the central role of gas in the economy and Australia’s energy transformation.

“The Future Gas Strategy sends a clear message that gas has a critical long-term role in Australia’s energy mix to provide reliable and affordable energy to homes and businesses and drive domestic manufacturing to 2050 and beyond,” Ms McCulloch said.

PGS Goes Hydrocarbon Hunting in West Africa

12/05/2024 Posted by Dale

PGS has been awarded a 4D contract in West Africa for an international energy company.

Mobilization is scheduled for early September and the contract has a total duration of approximately 65 days, with an option to extend.

“We are very pleased with this contract award, securing visibility for another of our vessels well into the fourth quarter. After completion of scheduled acquisitions programs during the Northern Europe summer season we will steam a vessel to West Africa to commence this contract.

"By combining the Ramform acquisition platform with our proprietary multi-sensor GeoStreamer technology we will provide the client with high-quality 4D seismic data,” says Rune Olav Pedersen, President & CEO in PGS.

Rystad Energy predicts the ‘Future of Russian LNG on the rocks’ as sanctions impacts take hold

30/04/2024 Posted by Dale

Russian oil production has remained strong despite sanctions imposed by Western countries in the wake of Russia’s invasion of Ukraine. The country’s gas and liquefied natural gas (LNG) industries, on the other hand, have suffered due to limited pipeline infrastructure and reliance on Western companies. Rystad Energy expects Russian piped gas to China to increase due to new infrastructure, but the outlook for Russian LNG is less rosy.

The Kremlin has set an ambitious plan to commission 100 million tonnes of LNG capacity by 2030 but our forecasts show the country will miss that target by as much as 60 million tonnes.

PGS reports decline in revenue for 2023

30/04/2024 Posted by Dale

PGS ended the full year 2023 benefitting from an improving data acquisition market with high pre-funding level on MultiClient projects and increasing profitability for contract work.

Nevertheless, revenues declined compared to 2022 due to unexpected scheduling and operational challenges, and lower than expected MultiClient late sales.

This was revealed in PGS’s recent 2023 Annual Report in which outgoing President and CEO Rune Olav Pedersen said of the roller coaster ride through the year: “We entered 2023 with a strong order book in a recovering seismic market. Our integrated service offering enabled us to leverage the market recovery.

Saudia Arabia opens doors to first World Economic Open Forum outside of Davos

30/04/2024 Posted by Dale

Riyadh convened global leaders this week at the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development to host candid dialogues and outline bold steps to tackle the most pressing geopolitical, social and economic challenges facing humanity.

This comes after the United Arab Emirates hosted the COP28 Summit in Dubai in December.

Speaking at the Special Meeting, His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy for Saudi Arabia, said a just and equitable energy transition will only be achieved by using a range of energy sources to diversify the global energy market.

Tamboran steps on the gas with Origin agreement in the Top End

30/04/2024 Posted by Dale

Tamboran Resources has announced that the Tamboran/Sheffield JV has entered into a 10-year Gas Sales Agreement for up to 36.5 PJ per annum (18.3 PJ per annum net to Tamboran) with energy retailer Origin.

This follows a MOU executed in June 2022 with gas pipeline operator, Jemena, to enable Tamboran to contract ~100 TJ per day of firm capacity through the Northern Gas Pipeline, subject to applying NGP Access Principles, under a long-term gas transportation agreement.Tamboran Resources' pure focus is on its acreage portfolio in the Beetaloo/McArthur Basin in the Northern Territory, where it is the largest acreage holder with ~1.