CGG Multi-Physics has released an important update to its industry-renowned LCT potential field software suite. Oil and gas exploration geoscientists use LCT to model, process and interpret their gravity and magnetic data for guiding integrated subsurface imaging.
The improved capabilities available in the new LCT R2017.06 release are based on existing user feedback. In particular, enhancements to the software’s intuitive and powerful workflows improve ease-of-use, bring overall risk...
The Board of PGS confirms that it has received a conditional and non-binding offer from TGS to acquire the MultiClient data library of PGS for a cash consideration of $600 million.
The offer also includes proposals for the provision of acquisition services by PGS to TGS and the opportunity for TGS to participate in future MultiClient projects undertaken by PGS.
PGS Management and the Board of Directors will address the offer. PGS said it will make an...
Experts in quantum cold-atom sensors are delving deep underground in a new project aimed at harnessing quantum gravity sensing technology in harsh underground borehole environments.
The Gravity Delve project, funded by Innovate UK, brings together academics from the UK Quantum Technology Hub Sensors and Timing, which is led by the University of Birmingham and Nemein Ltd, with the aim of investigating the benefits and challenges associated with using quantum gravity sensors down...
The International Gas Union’s (IGU) Global Gas Report 2020 release has found that after a year of strong growth in 2019 and a year of COVID-19 related challenges in 2020, the global gas industry is set to play a vital role in economic recovery and in a cleaner energy future.
The report finds technology and innovation can play key roles as countries, including Australia, look to significantly reduce their greenhouse gas emissions. Technologies such as biomethane, hydrogen and gas with...
National Energy Resources Australia (NERA) and CO2CRC have announced an industry-led project to reduce emissions and unlock Australia’s energy potential through long-term carbon capture, utilisation and storage solution.
NERA and CO2CRC described the initiative as “a new landmark study into carbon capture, utilisation and storage (CCUS) to assist the nation’s energy resources sector reduce CO₂ emissions while securing Australia’s energy future”.
The...
Chevron is aiming to bring the second train at its Gorgon LNG plant back online in September after it found “weld quality issues” within the propane heat exchangers and shut down the facility on May 23 as part of a planned maintenance schedule.
The global supermajor said repairs were being carried out at the plant on Barrow Island and the company had targeted the early part of September for a restart.
This comes after the Australian Manufacturing Workers Union had called for...
APPEA has welcomed the Australian Energy Market Operator’s Integrated System Plan (ISP) for identifying the critical role of gas-fired power generators, while highlighting that the total amount of gas-fired power generation will increase as coal capacity retires from 2030.
“Gas-fired power generation is incredibly important for the National Electricity Market and Australia’s future electricity supply,” APGA CEO Steve Davies said.
“As we saw during the recent record-breaking...
Chevron’s $13 billion acquisition of Noble Energy has been interpreted as a long-term punt for a natural gas future.
Adrian Lara, senior 0il & gas analyst at data and analytics company GlobalData, said of the transaction: “Since the crash of oil price and demand in March 2020, there has been an increasing expectation for mergers and acquisition (M&A) activity to show existing opportunities despite the depressed economic cycle.
“Chevron’s US$13bn acquisition of...
Eni has announced a significant hydrocarbon discovery on the Ken Bau discovery in Block 114, Song Hong Basin, offshore Vietnam.
The Italian oil and gas company said the exploration well Ken Bau-2X was drilled two km apart from the discovery well in 95m of water depth to a total depth of 3658m and encountered pay in excess of 110m in several intervals of Miocene sandstones interbedded with shale.
Eni said two mini drill stem tests (DST) were conducted, coupled with...
Cairn Energy has agreed to sell its 40% stake in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore contract area to Russia’s Lukoil for a cash consideration of up to $400 million, in addition to reimbursement of capital expenditure incurred since January.
Completion of the sale is expected to be finalised in the fourth quarter of 2020 and Cairn said it will return at least $250 to shareholders.
This come after FAR Limited said it had received a “good level of...