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Industry

Woodside signs new Scarborough gas supply agreement

WOODSIDE Energy Ltd has entered into a long-term gas sale and purchase agreement (GSPA) with Perdaman Chemicals and Fertilisers Pty Ltd for the supply of pipeline gas for a term of 20 years. The GSPA is for a quantity of approximately 125 TJ of gas per day for use in Perdaman’s proposed urea plant near Karratha. Gas will be supplied from Woodside’s portfolio and primarily sourced from Woodside’s proposed Scarborough

S&P forecasts stable oil & gas sector but oilfield services still carries risks

LEADING global ratings group S&P says its outlook for the oil and gas sector is broadly stable with a somewhat negative slant for the oilfield services (OFS) and contract drilling segments. The firm said its ratings outlook largely reflects its assessment of the sector’s improved balance sheets and cash flow metrics and a generally range-bound outlook for hydrocarbon prices Key takeaways from its report “Industry Top Trends 2019” include: The

Innovative NT gas strategy welcomed by oil and gas sector

The Northern Territory’s oil and gas industry has welcomed the recent announcement of the Territory Government’s Gas Strategy. Released at the South East Asia Australia Offshore and Onshore Gas (SEAAOC) conference in Darwin, the Gas Strategy outlines a five-point plan to develop the NT’s substantial offshore and onshore gas resources to create new jobs and opportunities for downstream gas-based manufacturing. The plan aims to create a world class hub for

APPEA says NT implementation plan will get gas industry back to work

THE Australian Petroleum Production & Exploration Association (APPEA) has welcomed the release of the Northern Territory Government’s plan to implement the recommendations of the independent scientific inquiry into unconventional hydraulic fracturing. The framework outlines the need for collaboration and transparency between government, industry, local business and the broader community in ensuring the safe and sustainable development of the Territory’s onshore shale gas resources with real benefits for Territorians. “Unlocking these

Australia’s resources and energy exports hit record levels

AUSTRALIA’S resource and energy export figures are on track to set a new record of $226 billion in 2017–18 – and go even higher this year – according to an in-depth Government report released. Minister for Resources and Northern Australia Matt Canavan said strong demand and prices for LNG, iron ore and coal in particular were pushing total exports from the sector to the new records. “It is likely coal

Global group picks Port Kembla for first NSW LNG import terminal

A NEW, Australian-led international consortium, Australian Industrial Energy (AIE), announces today that it has selected Port Kembla as the site for NSW’s first Liquefied Natural Gas (LNG) Import Terminal. The terminal would have the ability to supply in excess of 100 PJ per annum, sufficient to meet over 70% of NSW’s total gas needs. The LNG import terminal will be named the Port Kembla Gas Terminal (PKGT). Development and construction

Wood launches next phase of local industry collaboration into subsea equipment reliability

Wood has announced the next phase of a collaborative industry effort to develop a better understanding of the reliability of subsea equipment for use offshore Australia. The company is leading the Subsea Equipment Australian Reliability Joint Industry Project (SEAR JIP); an initiative supported by a group of operators including Chevron, ConocoPhillips, Quadrant and Woodside. The project is focused on collaboration and knowledge sharing in order to improve subsea equipment design

Oil and gas companies embracing the new energy era

The drive towards a low-carbon future – catalysed by the Paris Agreement, and coupled with a series of socio-economic and technological trends – is leading many in the oil and gas industry to fundamentally reimagine what the energy company of the future looks like, according to a new paper from Deloitte. ‘Hydrocarbons to electrons – Crossing the chasm to the new energy future’ examines how oil and gas companies are

The State of Exploration in 2018 – a renewed optimism

Westwood Energy has released its 2018 State of Exploration Report, the ninth edition of the definitive report covering global conventional oil and gas exploration. Key conclusions from the report are: • Exploration drilling activity in 2017 was little changed compared to 2016 but performance was strong with discovered volumes more than double that of 2016, overall commercial success rates rising to a record high of 47% and record low finding

Oil and gas industry urged to support new skills strategy to up-skill for digital transformation

A report into UK oil and gas workforce dynamics launched today indicates that more than 40,000 new people will need to be recruited into the industry over the next 20 years, including 10,000 in posts that don’t exist today. The UKCS Workforce Dynamics Review, by global energy skills body OPITO in partnership with Robert Gordon University’s (RGU) Oil and Gas Institute, assesses the changing skills requirements for the industry over