‘National Resources Statement outlines a blueprint for success’

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The oil and gas industry has welcomed the release of the National Resources Statement, the first since February 1998.  The vital contribution the resources sector makes to Australia, particularly in the regional areas that host development, is highlighted in the Statement. APPEA Chief Executive Dr Malcolm Roberts congratulated Minister for Resources Matt Canavan for taking the initiative to develop this statement and encourage a bi‑partisan and long‑term policy approach for Australia’s important resources sector. “For its part, the oil and gas industry, a key part of the broader resources sector, has invested around $300 billion in oil and gas projects…

Searcher completes Airborne Geophysical Survey in Papua New Guinea

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Searcher Seismic has announced completion of the regional multi-client airborne gravity, gravity-gradiometry and magnetics survey covering the transition zone of the Gulf of Papua. The Roho Airborne Gravity, Gravity-Gradiometry and Magnetic Survey covers approximately 60,700 square kilometres (~52,700line km) along the southern coast of PNG. The survey compliments several marine seismic and geochemical projects recently completed by Searcher aimed at assessing the hydrocarbon potential of the Gulf of Papua and adjacent Coral Sea areas, offshore PNG. The data were acquired with a 1km line spacing in the northern Gulf of Papua, and 2km line spacing extending along the coastline to…

Maiden gas reserves for Po Valley’s Selva field

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Australia’s Po Valley Energy Limited has announced maiden gas reserves for its majority-owned onshore Selva Malvezzi field, northeast of Bologna in northern Italy. The maiden gross 2P reserves for Selva of 13.3 were prepared by CGG, from previously reported gross contingent resources (“2C”) but also includes results from new drilling on the field early last year (Podere Maiar 1 well). The milestone estimate announced delivers 8.38 bcf of net 2P reserves attributable to Po Valley and represents the company’s first reserves for this gas field. In addition to the Selva reserves, the Production Concession area contains on a best estimate…

CGG and TGS announce Greater Castberg Survey in Barents Sea

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CGG and TGS have announced the Greater Castberg TopSeis™ survey in the Barents Sea. The survey is 5,000 sq km, and will be acquired and processed with the latest developments of CGG’s TopSeis acquisition and imaging technology. The survey will include the highly prospective Castberg area, and cover existing and newly awarded licenses in addition to open acreage with several play models in multiple geological layers. The acquisition is expected to commence late Q2 2019 with final delivery to clients in Q4 2020. The project is supported by industry funding. Kristian Johansen, CEO, TGS, said: “Greater Castberg will expand the…

Total steps on the gas with South Africa’s biggest discovery.

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South Africa’s first ever globally significant oil and discovery was announced by Total last week when the French supermajor revealed it had made a billion-barrel oil equivalent gas find in the Southern Outeniqua Basin. The discovery is big enough to meet South Africa’s imported fuel needs for four years and is located 175km offshore in the Brulpadda Prospect, which is about 180km from South Africa’s gas-to-liquids plant at Mossel Bay on the Cape south coast. The find is located in an 18,000km2 block which Total has been prospecting for some years, albeit having suspended exploration in 2014 as a result…

AGIG welcomes NT Government announcement on new $170m pipeline

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Australian Gas Infrastructure Group (AGIG) has welcomed the Northern Territory Government’s decision to grant conditional consent to commission and operate the new $170 million Tanami pipeline infrastructure. The recent announcement by NT Minister for Primary Industry and Resources, Paul Kirby, said construction of the Tanami Gas Pipeline was complete and AGIG could now test the pipeline by introducing gas at the pressure under which it will operate. The Minister said once testing is successfully completed and independently verified, the pipeline will be able to go into full operational mode. Newmont Mining Corporation awarded the contract for AGIG to build, own…

Anadarko pens Mozambique gas sales agreement with CNOOC

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U.S. oil and gas company Anadarko has signed 1.5 million tonnes per annum gas sale and purchase agreement for 13 years with China’s CNOOC for gas to be produced from its gas field offshore Mozambique. Mitch Ingram, Anadarko Executive Vice President, International, Deepwater & Exploration said: “We are pleased to announce this SPA with CNOOC, an important global energy player in one of the biggest and fastest growing LNG markets in the world. “This deal gives China’s largest LNG importer access to Mozambique LNG’s world-class gas resources, which are strategically located off the East Coast of Africa, and will provide…

Talon Petroleum casts its North Sea net for Encounter Oil

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Australia’s Talon Petroleum is making a bid for 100 % takeover of EnCounter Oil, which is the owner of two UK North Sea licenses. EnCounter, a private UK-based company, was formed in 2012 by the former executive management team of EnCore Oil and was involved in 25 wells and produced significant hydrocarbon discoveries at Breagh, Cladhan, Catcher, Varadero. EnCore was acquired by Premier Oil in 2011 for £221 million. Talon said the completion of the transaction is subject to final legal and financial due diligence on EnCounter and all required shareholder approvals. The company is looking to build on its…

Lightning strikes for Otto Energy with significant Gulf Coast discovery

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Otto Energy shareholders had reason to celebrate yesterday after the ASX-listed exploration and production company announced a ‘Lightning strike’ in the Gulf that spiked its share price 69 per cent, to $0.071, before closing at $0.060 yesterday. The West Perth-headquartered company, which is already producing shallow oil from its SM 71 well, Louisiana, revealed that exploration well Green 1, which is testing the Lightning prospect in Matagorda County, Texas, had reached total depth of 15,218 feet. Otto, which has a 37.5% interest in the leases covering this prospect, said a quad combo wireline logging suite, including dipole sonic, had been…

Australia leads FPSO deployments in Oceania by 2025

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Australia will account for all floating production, storage and offloading vessels (FPSOs) planned for deployment in Oceania during 2019–2025, according to GlobalData. The data and analytic company’s report reveals that 67 planned and announced FPSOs are expected to start operations globally between 2019 and 2025. Of these, 26 are planned and 41 are announced. In Oceania, all the five upcoming FPSOs – Barossa, Browse 1, Browse 2, Buffalo (Re-Development), and Crux – are announced FPSOs. Woodside Browse Ltd. leads among operators with two upcoming FPSOs, which are expected to commence operations during the outlook period. The rest of the operators–Shell…

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