Latest News

ConocoPhillips acquires operatorship of 3D Oil Tasmania permit

04/02/2020 Posted by Dale

3D Oil Ltd, has executed a farmout agreement with ConocoPhillips Australia whereby the latter will acquire a 75% operated interest in the T/49P exploration permit in the Otway Basin offshore Tasmania for $5 million cash.

Prior to the deal 3D Oil held a 100% interest in the T/49P exploration permit, which covers 4,960km of the Otway Basin and is located adjacent to the producing Thylacine and Geographe gas fields.

The most recent agreement was finalised with ConocoPhillips on Dec 18.

Australia’s Po Valley Energy has welcomed the Italian Ministry of Environment giving the Selva gas field development in Northern Italy a green light that has brought the project to the cusp of production.

At the same time the company revealed that final environmental approval for the Teodorico offshore gas project was expected in the March quarter following primary environmental approval in 2019.

Po Valley CEO, Michael Masterman commented: “Environmental approvals for the low...

Coronavirus ‘trumps Middle East’s impact on oil prices’

04/02/2020 Posted by Dale

The UAE’s first confirmed case of the Wuhan coronavirus -- the first confirmed case in the Middle East – has had a greater impact on oil prices than Libyan oil shutdown or Iran-USA tensions.

That’s according to data analytics company GlobalData, who said of the recent outbreak and its influence on markets.

Airport hub

“The Gulf region, and Dubai in particular, is a major travel and business hub between Asia and Europe. Its links with China have been an important part of the...

Shearwater secures back-to-back work with 3D survey for Reliance in India

04/02/2020 Posted by Dale

Shearwater has been awarded a 3D broadband marine seismic acquisition contract by Reliance Industries in the Bay of Bengal, India. The project is scheduled to commence in Q2 2020.

The survey covers 1,500 sq. km of block KG-UDWHP-2018/1 in the Krishna-Godavari basin and will be executed by the Polar Duchess using a Dual source design, Shearwater has announced.

“We are pleased to add Reliance as a new customer with this award for the coming season in India” said Irene Waage...

New five-year plan set to deliver WA gas supplies at ‘lower cost’

28/01/2020 Posted by Dale

Maintaining strong safety, reliability and service performance with lower revenue and costs are the focus of Australian Gas Infrastructure Group’s Final Plan for Western Australia's Dampier to Bunbury Natural Gas Pipeline (DBP) for the 2021 to 2025 period.

The Plan also puts in place measures to support the DBP continuing to deliver gas to an evolving Western Australian energy market well into the future.

The Plan was presented this month to WA’s Economic Regulation Authority...

Santos achieved record annual production, sales and revenue in 2019

28/01/2020 Posted by Dale

The largest company in South Australia reported production of 75.5 million barrels of oil equivalent (mmboe) in 2019 – up 28 per cent from 58.9 mmboe the previous year.

The report says Santos sold 94.5 mmboe over the year, up from 78.3 mmboe in 2018 – and it achieved sales revenue of $4.03 billion, up from $3.66 billion in 2018.

Santos Managing Director and CEO Kevin Gallagher said in a statement to the Australian Securities Exchange that the company had also delivered lower unit...

Pioneering WA Geoscience teacher praised for key ‘Australian of the Year’ nomination

28/01/2020 Posted by Dale

A Perth geoscientist who has pioneered taking science out of the classroom into a hands-on, in-the-field experience – particularly for remote area schools – has been praised for her nomination among Saturday night’s “Australian of the Year” awards in Canberra.

Ms Suzy Urbaniak was WA’s nominee in the “Australian of the Year - Local Heroes” award category.

Significant education inroads

The ‘Local Hero’ award acknowledges extraordinary contributions made by...

Shearwater GeoServices awarded Western Offshore India 3D campaign by ONGC

28/01/2020 Posted by Dale

Shearwater GeoServices has been awarded a 3D broadband marine seismic acquisition campaign by ONGC in Western Offshore India. The project is scheduled to commence in the first quarter of this year.

The four-month survey covers 2,000 sq. km of 3D in a shallow-water area of the Arabian Sea. The contract award follows last month’s announcement of a combined 2D and 3D broadband marine seismic survey for ONGC off the East Coast of India.

“We are pleased to receive this second award...

Shearwater kicks 2020 off with sevenfold increase in vessel backlog

10/01/2020 Posted by Dale

Shearwater has announced announce a more than sevenfold increase in 2020 backlog to 65 vessel-months at the start of 2020, up from nine vessel-months at the same time a year ago.

This backlog includes 24 months of the minimum commitment in the recently signed capacity agreement with CGG for two vessel-years annually over a five-year period. The backlog numbers exclude WesternGeco minimum commitment.

Shearwater said the backlog expansion reflects growing demand for marine seismic,...

CGG exits from Seabed Data Acquisition Business

08/01/2020 Posted by Dale

CGG has completed its exit from the seabed data acquisition business and terminated the Seabed Geosolutions’ joint venture agreement.

The Paris-headquartered geophysical services company said that in line with its strategy to exit the data acquisition business, which was effective from December 31, 2019, the company had agreed to transfer its 40% shareholding in Seabed Geosolutions to Fugro before the end of the first quarter of 2020.