CGG and OMV continue cooperation with Multi-Year extension of dedicated Centre

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CGG has announced that its contract with OMV to operate a dedicated centre at its head office in Vienna has been renewed and will run for a further three years. During this period OMV will continue to benefit from onsite access to CGG’s subsurface imaging and reservoir characterization expertise and technology. The support given by the centre to image and interpret OMV’s geophysical data and the collaborative spirit in which the teams work together will help to provide greater insight into OMV’s worldwide acreage, CGG said. The two companies have worked together as strategic partners since the centre first opened…

Shell exits upstream operations in Ireland

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Shell has exited the upstream sector in Ireland with the sale of its interest in the Corrib gas project to Nephin Energy for US$1.3 billion. The Corrib natural gas field is located approximately 83km off the northwest coast of Ireland, 3,000 meters under the seabed and in water depths of 350 meters. Initial field development started on December 30, 2015 comprising six subsea wells. Gas is transported via an 83 km pipeline to an onshore gas processing terminal and then exported via the Bord Gais Eireann link line to the Irish gas grid. Shell said it had completed the previously…

 ‘US to top new-build capex spend in oil and gas to 2025’

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A total capital expenditure (capex) of $3.6tn is expected to be spent globally across oil and gas value chain on planned and announced projects during 2018 to 2025, according todata and analytics company GlobalData. In its latest report GlobalData said that, globally, the US, Russia, and Canada are the top countries in terms of new-build capex to be spent on planned and announced projects across the oil and gas value chain by 2025. The US tops the list with capex of US$521.4bn expected to be spent on 484 oil and gas projects. Russia and Canada follow with US$317.3bn (on 192…

Tap sells Carnarvon basin offshore licence to Santos

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Tap Oil has entered into a sale and purchase agreement for the sale of its 22.474% non-operated interest in WA-33-R in the offshore Carnarvon basin of WA. Tap said the development was consistent with its strategy to monetize and rationalise its Australian portfolio and pursuant to the terms of the SPA, the company’s subsidiary, Tap Shelfal, will sell its interest in WA-33-R to its joint venture partners Quadrant Oil and Santos with Tap Shelfal’s interest being split between the buyers 12.361% and 10.113%, respectively. Santos already has an 18.7% interest in the license for which Quadrant was the operator until…

Gas investors warned Australian states among world’s worst

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The Australian states that complain most loudly about gas supply rank among the worst places in the world to invest in developing natural gas resources, a leading global survey has found. The Canadian-based Fraser Institute’s 12th annual survey shames Victoria, New South Wales and Tasmania as among the world’s most unattractive destinations for oil and gas investment. APPEA Chief Executive Malcolm Roberts said Australia’s south eastern states are keeping dubious company in their slide to the bottom as oil and gas investment destinations. The Fraser Institute report bluntly states: “The 10 least attractive jurisdictions for investment, starting with the worst,…

34th IGC Travel Grant Scheme – 2018 Call for Applications

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Applications are now being accepted for the 34th International Geological Congress Travel Grant Scheme for Early-Career Australian and New Zealand Geoscientists. This scheme provides funds to support travel by Australian and New Zealand geoscientists in the early stages of their careers. The application deadline has been extended to 14 December 2018. Details on how to apply and previous grants awarded can be found here. AN INITIATIVE OF THE AUSTRALIAN GEOSCIENCE COUNCIL AND THE AUSTRALIAN ACADEMY OF SCIENCE

Leigh Creek Energy confirms fertiliser production plans

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The former Leigh Creek coal field site will be transformed into an agriculture energy hub, with Leigh Creek Energy (LCK) confirming it will pursue a fertiliser production commercial pathway for its Leigh Creek Energy Project (LCEP). The company has concluded its commercial options analysis for downstream Syngas production, and has determined the most financially attractive choice for the company’s 2,964 petajoules of 2C syngas at the former Leigh Creek coal field site is to make fertiliser products. LCK Managing Director Phil Staveley said the company has now initiated full feasibility study processes to justify funding for the commercial project, following…

Eni given green light to drill appraisal well in the Barents Sea

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Eni Norge has been granted a permit to drill an appraisal well in the Barents Sea offshore Norway. The Norwegian Petroleum Directorate (NPD) said the Italian oil and gas giant had received permission for the 7122/7-7 S well to be drilled from the West Hercules rig after it had wrapped up drilling of wildcat well 7324/3-4 for Equinor in production license 615. This follows a gas discovery by Equinor in production license 615, which is located near to the Atlantis gas discovery in the Barents Sea, from the West Hercules rig. Eni intends to investigate a prospect named Goliat West…

BP brings Clair Ridge to life 41 years after oil discovery

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BP, in partnership with Shell, ConocoPhillips and Chevron, has begun first oil production from the Clair Ridge project in the West Shetland, offshore the United Kingdom. The supermajor said that Clair Ridge was the second phase of development of the Clair field, located 75km West of Shetland, which had been discovered in 1977 and has an estimated seven billion barrels of hydrocarbons BP said that two new bridge-linked platforms and oil and gas export pipelines have been constructed as part of the Clair Ridge project. The new facilities, which required capital investment in excess of £4.5 billion, are designed for…

APPEA says Labor’s energy policy recognises role of gas in a cleaner energy future

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The Australian Petroleum Production & Exploration Association has welcomed the release of the Labor Party’s energy policy platform. APPEA Chief Executive Dr Malcolm Roberts said implementing the National Energy Guarantee (NEG) would help attract the new, long-term investments needed to build a reliable, affordable and cleaner electricity sector. “Australia needs an energy policy framework which cuts emissions without jeopardising reliable electricity supply or inflating energy prices,” Dr Roberts said. “APPEA believes these goals are best achieved by allowing the market to innovate and invest in a stable policy environment. “The energy market has suffered from too many ad hoc interventions…

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