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Drilling & Production

ExxonMobil gives go-ahead for Bass Strait West Barracouta gas project

EXXONMOBIL and BHP have made a positive final investment decision (FID) to develop the West Barracouta gas field in Bass Strait off the coast of Victoria to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin. The company recently completed front-end engineering design work for the project, which is part

Oil and gas industry welcomes lifting of WA fracking moratorium

AUSTRALIAN oil and gas lobby group APPEA has welcomed the Western Australian Government’s decision to lift the hydraulic fracturing moratorium on existing onshore gas projects. “The independent scientific inquiry has confirmed that properly regulated, hydraulic fracturing is a safe practice.  Hydraulic fracturing has been used safely in Western Australia since 1958,” said APPEA chief executive Dr Malcolm Roberts. “The inquiry shows there is no environmental or public health justification for

WA Government introduces strict new fracking controls

FRACKING will not be permitted over 98% of Western Australia and, for the first time, traditional owners and farmers will have the right to say no to oil and gas production from fracking on their land. The WA Government has announced it will only lift the fracking moratorium on existing onshore petroleum titles following an independent scientific inquiry finding the risk to people and the environment is low. Under new

Oil and gas spend needs to increase by 20% to sustain growth into next decade

GLOBAL industry analyst Wood Mackenzie has forecast that global oil and gas development spend needs to increase by around 20% to meet future demand growth and ensure companies sustain production next decade. “Companies will need to start investing again to sustain their business. But decision-making will be fraught with uncertainties, the oil price and energy transition not least among them,” Malcolm Dickson, director, upstream oil and gas, said. Mr Dickson

ICON completes world’s deepest CAN-ductor deployment and recovery

THE world’s deepest installation of a CAN-ductor (Conductor Anchor Node suction pile with integrated conductor) well foundation has been completed after being successfully recovered from Woodside Energy’s Ferrand-1 deepwater exploration well in the Carnarvon Basin, offshore Western Australia. The CAN-ductor was designed, supplied, installed and recovered by a venture comprising Norwegian developers Neodrill AS and Australian offshore installation contractor ICON Engineering Pty Ltd using a Siem Offshore Anchor Handling Tug

First condensate cargo from Ichthys departs

THE INPEX Corporation-led Ichthys LNG Project has achieved another milestone with the departure of its first shipment of condensate. The cargo departed from the roject’s massive offshore floating production, storage and offloading facility – the Ichthys Venturer –moored in the Browse Basin, some 220 kilometres off the northwest coast of Western Australia. “Departure of the first condensate cargo from the INPEX-operated Ichthys LNG Project demonstrates our commitment to be a

Santos aiming for over 100 mmboe of production by 2025 

SANTOS has outlined plans to grow production to more than 100 million barrels of oil equivalent (mmboe) by 2025, almost doubling current levels of production. The company’s managing director and CEO Kevin Gallagher said the successful delivery of the Transform-Build-Grow strategy presented to the market in 2016 had now positioned the company for disciplined growth. Mr Gallagher said since the beginning of 2016, Santos’ strategy has delivered: • A diversified

Santos signs new long term gas supply deal with Brickworks

SANTOS has signed a new long term natural gas supply agreement with Brickworks Limited for its east coast operations through to the end of 2024. This new supply agreement will provide Brickworks’ east coast operations with a flexible source of natural gas at competitive, stable, long term prices. The natural gas contracted to Brickworks will supply its east coast operations in South Australia, Victoria, Queensland and New South Wales. Santos

Gas capital expenditure to hit US$1.13 trillion in 2025

Natural gas projects will receive a significant investment boost over the coming years, enabling gas to overtake oil as the world’s primary energy source in 2026, and account for a quarter of the world’s energy by mid-century. DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050, predicts global upstream gas capital expenditure to grow from US$960 billion (bn) in 2015,

Are You Overlooking a Significant Source of Savings?

Some oil producers are using chemical management and saving up to 10 percent in chemical costs. By Richard Irwin, Senior Product Marketer, Asset Performance, Bentley Systems, Inc.   While oil prices are rising once again after the sharp decline over the last few years, there is still great emphasis on significantly reducing costs across all areas of production, both on and off shore. One area that is often overlooked in