Export controls risk jeopardising future gas supply

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Restricting gas exports to boost domestic supply is likely to be counterproductive, the Australian Petroleum Production & Exploration Association (APPEA) has warned. APPEA Chief Executive Dr Malcolm Roberts said the government’s proposed Australian Domestic Gas Security Mechanism (ADGSM) was a short-term fix and not a long-term solution. The Government today confirmed it has begun the formal process to consider whether the ADGSM will be required to restrict Queensland liquefied natural gas (LNG) exports for 2018. But Dr Roberts warned export restrictions risked exacerbating the problem they were meant to solve. “The industry has tripled east coast gas production in the…

Australia hits all-time LNG export high

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Australia has broken through the 50 million tonnes (Mt), LNG export barrier for the first time with cargoes of liquefied gas from Down Under forecast to grow 22.6% in the 2017-18 financial year. This record breaking performance for the 12 months to June 30 was revealed in the monthly LNG report for June released by energy consultancy EnergyQuest, which reported that Australia had exported 51.4Mt of LNG in the 2016-17 financial year. This represents a 37% increase in LNG exports from 2016 output levels of 37.5Mt. EnergyQuest forecasts that current volumes from Australia will be bettered in the new financial…

Schlumberger losses decrease sharply in Q2

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Schlumberger has reduced second quarter loses to $74 million from $2,16 billion a year ago. The largest oilfield services company in the world posted second quarter revenue of $7,46 billion, a 4% increase from $7,16 billion in the corresponding quarter of 2016. Sequentially, revenue grew eight percent, as Schlumberger had reported $6,9 billion in revenue for the first quarter of this year. North America revenue, boosted by onshore activity, was $2,2 billion, 18% up from first quarter revenue of $1,73 billion, and 27% up from $1,73 billion a year ago. Schlumberger CEO Paal Kibsgaard said: “North America revenue increased 18%…

China’s COSL partners Twinza Oil for drilling in PNG

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Chinese offshore services provider China Oilfield Services Limited (COSL), a Chinese offshore services has won a contract to perform drilling operations in Papua New Guinea from Australian oil and gas company, Twinza Oil. COSL said the deal represented the first time it would be operating with Twinza Oil on a project and that it would use the COSLSeeker jack-up rig, which is scheduled to arrive at Papua New Guinea in late August. The COSLSeeker will be deployed to PNG after completing operations at the Duyung production sharing contract located offshore Indonesia where the jack-up drilled the Mako South-1 appraisal well.…

CGG announces largest node survey ever in Santos Basin

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CGG announced today the award by Petrobras of a contract to process the seismic data from a 3D Ocean Bottom Node (OBN) survey covering a full-fold area of 2180 km2 in Brazil’s deepwater Santos Basin. This will be the largest node survey ever acquired and processed in the industry. The survey will be acquired by Seabed Geosolutions, CGG’s joint venture with Fugro. The resulting OBN data set will be processed in CGG’s long-established Rio de Janeiro Subsurface Imaging Center, which has the largest computer capacity and greatest expertise in the region. Jean-Georges Malcor, CEO, CGG, said: “CGG is a natural…

Cairn tastes oil in FAN South well, Senegal

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London-listed oil and gas company Cairn Energy has found oil as it completed drilling of the FAN South-1 well in the South Fan prospect offshore Senegal. The well, which was the first pure exploration well to be drilled offshore Senegal since the discovery wells of FAN-1 and SNE-1 in 2014, was spud in late May with the Stena DrillMAX drillship. Cairn said that the operations have been completed ahead of schedule and under budget following drilling and wire line logging operations. The well encountered hydrocarbon bearing reservoir (Lower Cretaceous) and oil samples were obtained. Preliminary analysis indicates 31° API oil…

Japan-Russia exploration deal irks US

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The United States, according to a report in Bloomberg, is “irritated” by a signed offshore exploration cooperation agreement between Rosneft and a consortium of Japanese companies. Citing sources familiar with the issue, Bloomberg said the US believes that Japan, as part of the Group of Seven Allies, should not be working against sanctions imposed in 2014 on the Russian oil and gas industry in response to the Soviet’s annexation of Crimea. The Group of Seven Allies, known as G7, comprises Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. These sanctions apply to five Russian companies, Gazprom,…

US offers 76 million acres in new Gulf of Mexico lease sale

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United States Secretary of the Interior Ryan Zinke said his department would offer 75.9 million acres offshore Texas, Louisiana, Mississippi, Alabama, and Florida for oil and gas exploration and development. The lease sale, scheduled for August 16, will include all available unleased areas in federal waters of the Gulf of Mexico and provide a reduced royalty rate for shallow water leases to encourage exploration and production under current market conditions, the Department of the Interior said. Lease Sale 249, scheduled to be livestreamed from New Orleans, will be the first offshore sale under the National Outer Continental Shelf (OCS) Oil…

Gore locks horns with APPEA over gas role

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Global renewable energy revolutionary Al Gore stoked an already political charged energy debate in Melbourne last week by fuelling the threat of Labor-governed States’ to go it alone on renewable energy targets. Gore’s comments at an environmental conference prompted a rebuke from the Australian Petroleum Production and Exploration Society (APPEA), saying the former vice president of the United States was ignoring the key role of natural gas in reducing global emissions in his homeland. “Mr Gore may be here to talk renewables, but the truth is that it’s natural gas that is driving down emissions in the U.S.,” said APPEA…

Phillip Playford’s life is honoured and celebrated

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IT was with much sadness that PESA learned of the passing of Dr Phillip Playford AM at the age of 85 after a long battle with cancer. PESA President Toby Colson and Australia Geoscience Council President Bill Shaw both paid tribute to Dr Playford, a luminary of the geological profession, award-winning author and a remarkable man who even discovered a shipwreck, the Zuytdorp, which was the first Dutch ship to be found and identified in Western Australia. His book about the wreck, Carpet of Silver; The wreck of Zuytdorp, won a Premier’s Prize for literature. Dr Playford was a PESA…

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