Light at the end of jobless tunnel for Geos?

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The jobs outlook for Australia’s geoscientists has shown the first small signs of improvement in two years with the number of professional geoscientists in Australia seeking work or unable to secure satisfactory self-employment, falling in the June quarter compared with the preceding period. This is the first sign of any improvement in the sector – hard hit by the retreating mining resources boom – since September 2014 but the outlook remains dire with higher numbers looking to leave the profession for opportunities elsewhere. The profession’s latest survey shows that at 30 June 2016, the unemployment rate amongst Australian geoscientists was…

Spectrum upbeat reprocessing new 3D broadband project

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Spectrum has commenced broadband reprocessing of its Zeus and Zeebries 3D datasets as part of an extensive new Broadband 3D seismic project that is set to ignite exploration offshore NW Australia, the UK-based company has announced. The Olympus Project will provide, for the very first time, a regional viewpoint along one of the most prolific trends on the NW Shelf. The surveys will be processed through high-end broadband PSTM and PSDM sequences bringing modern imaging uplift to this complex geological region of the North Carnarvon Basin. In association with Searcher Seismic, Spectrum are applying this technique to an additional 20…

BP wins deadlines extension for big Bight plan

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NOPSEMA has granted BP an extension to lodge a third and final environmental plan to drill the Stromlo-1 well in the Great Australian Bight. The submission is now expected to be lodged by August 31 and BP now faces a race against time to begin drilling the Stromlo-1 well in the calmer seas of summer following assessment of the supermajor’s game plan and safeguards by the offshore regulator. BP’s plan will have to be watertight as the $1 billion exploration program it hopes to expedite in the Bight is expected to face opposition from controversial environmental lobby group Sea Shepherd,…

Woodside goes on African safari in Senegal.

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Woodside has bought ConocoPhillips’ exploration stake in Senegal, acquiring a 35% stake in the SNE and FAN deepwater oil discoveries and the option of becoming operator, for US$430 million. The deal gives the Perth-based company exposure to a potential 560 million bbl oil discovery, which Woodside appears to have picked up for a significant discount at about US$2.30 per barrel to the US$7 per barrel valuation of RBC Capital Markets. Melbourne-based FAR Energy, which holds a 15% stake in the Senegal venture, was trading 13% lower at 7.3c in a trading halt. UK-based Cairn Energy holds a 40% stake and…

BP invests in Bunker facility for Bight program

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BRITISH Petroleum has signalled its commitment to Australia by announcing a multi-million dollar investment in infrastructure establishing a new fuel bunkering facility in Port Adelaide’s inner harbour. BP and Flinders Ports said the $8 million facility would support operations for BP’s planned $1 billion Great Australian Bight program which, subject to approval will see the first two wells drilled from late 2016, by providing safe, efficient and simultaneous refuelling of vessels and receipt of fuel into the terminal. “BP is proud to lead the development and execution of a unique, custom-built fuel bunkering system in Port Adelaide,” said Andy Holmes,…

UKOG secures two-year retention for Horse Hill-1

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UK Oil & Gas has retained its leases for the ‘Gatwick Gusher’, in southern England, which will enable the London-based company to continue production testing of the eagerly watched Horse Hill-1 oil discovery. The Horse Hill partners, also encompassing UK Oil & Gas Investments and Solo Oil, have retained PEDL137 and PEDL246 lease areas for a further two years by the UK Oil and Gas Authority. Horse Hill-1 has flowed 40 deg API of sweet crude at 1360 bopd from two bands of fractured Kimmeridgian Micrites at around 800-900m, spiking UKOG AIM-listed stock 77% to 1.95 Sterling as Schlumberger announced…

DownUnder GeoSolutions takes out honours in two major awards

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DownUnder GeoSolutions (DUG) was recently announced as a winner in Western Australia’s Most Innovative Technology Awards. Winners of the ICT top technology awards were announced on Friday 24 th June at the 25 th WAITTA Incite Gala Presentation Award Dinner. DUG was awarded the winner of the Most Effective Platform category for its innovative cooling technology that uses polyalphaolefin dielectric fluid to cool its supercomputer servers. This technology results in massive energy efficiencies and a greener footprint. DUG is now a finalist in the National IAwards which will be decided in Melbourne in September. In the same week, DUG’s Managing…

PGS starts seismic shoot in Irish Atlantic

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Petroleum Geo-Services (PGS) has started shooting the Breanann 3D seismic program in the Irish Atlantic for free carried Irish explorer Petrel Resources (15%) and its farm-in partner and operator, Woodside (85%). Expected to take five weeks, the Breanann 3D seismic program began in late June on Frontier Exploration Licence 3/14, encompassing about 40% of the total 2400km2 program. AIM listed has spruiked exploration in the Porcupine Basin on the basis of no royalties paid in Ireland, a tax rate of 25% and a mega discovery scenario that caps the tax rate at 40%. The Dublin-based junior said a working petroleum…

PESA WA Branch – 2016 Meritorious Service Award

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This year the WA Branch is proud to announce that four members have been awarded the Meritorious Services Awards (MSA) for their contributions to Western Australian Basins Symposium (WABS). Their efforts are reflected in a series of volumes that capture geological features of hydrocarbons findings in WA as well geological concepts currently used for exploration in WA basins. The recipients of this year’s PESA MSA are Dr Myra Keep, Dr Don Poynton, Ed Kopsen and Dr Steve Moss. It is also important to note that the Award also recognises the efforts of many people that were involved in the different…

New interactive geological map aids exploration in East Africa

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CGG GeoConsulting’s NPA Satellite Mapping group has launched the multi-client EARS BasinMap for exploration de-risking across the vast region of East Africa, from regional-to-prospect or play scale. The EARS BasinMap is part of a new NPA Map product suite that offers world-leading satellite imagery-based geological mapping at different scales on either a proprietary or multi-client basis through PlateMap, BasinMap, BlockMap and FieldMap products. The EARS BasinMap provides an entirely new 1:200,000 scale geological map and database of the East African Rift System and integrates structural history, drainage analysis and sediment provenance. Compiled by expert interpretation of satellite optical imagery and…

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