Total raises cost overruns issue as it reduces Ichthys LNG stake by 4%

FRNCE’S Total has signed an agreement to divest a 4% interest in the Ichthys LNG project in Australia to operating partner INPEX for an overall consideration of US$1.6 billion. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%. “This transaction is part of our constant portfolio review to optimize our capital allocation,” said Arnaud Breuillac, President, Exploration & Production at Total. “Ichthys

Timor-Leste adds to Greater Sunrise strength with deal to buy Shell share

SHELL Australia and the Government of Timor-Leste have entered into a Sales and Purchase Agreement (SPA) for the sale of Shell’s 26.56% interest in the Greater Sunrise fields. Earlier this year Timor-Leste reached a deal to acquire ConocoPhillips 30% share in the Woodside operated Greater Sunrise fields in the Timor Sea in a plan to push for the ling stranded gas fields’ development. “Timor-Leste appreciates Shell’s willingness to sell its

Australia to benefit from growing global gas demand

FORECASTS by the International Energy Agency (IEA) confirm that the global demand for natural gas will surge over the next 20 years, creating a phenomenal economic opportunity for Australia. APPEA Chief Executive Dr Malcolm Roberts said the IEA’s latest World Energy Outlook shows that a growing natural gas industry is an essential part of a cleaner energy future. “In the IEA’s New Policies scenario, demand for natural gas is expected

Australia’s Calima to benefit from US$21.5 billion LNG Canada go-ahead

ASX-listed Calima Energy (ASX: CE1) has welcomed the news that a Shell-led JV has approved the go-ahead for the massive LNG Canada project at Kitimat. Calima, which is preparing to drill its first well in its Montney project area in Canada, is expected to see benefits from the billions in new infrastructure that will located near its assets, as well as a forecast increase in local gas and liquids pricing.

Timor-Leste to acquire interest in Greater Sunrise Fields from ConocoPhillips

THE Government of Timor-Leste and ConocoPhillips have reached agreement on terms for the sale of ConocoPhillips’ 30% interest in the Greater Sunrise Fields. The Prime Minister of Timor-Leste congratulated the Parties on successfully reaching an agreement, which benefits both Parties and is expected to allow Timor-Leste to proceed with discussions with the other Greater Sunrise Joint Venture members on future development of the Greater Sunrise resources. Timor-Leste’s Special Representative, Xanana

Jumbo contracted to transport FSRU from Batam to Brazil

HEAVY Lift specialist Jumbo has been awarded the contract for the transportation and Installation of a FSRU Mooring System including riser and umbilical, off the coast of Aracaju, Sergipe, Brazil Jumbo’s Offshore division was awarded the contract by Sapura to perform the transportation and installation of the FSRU’s Mooring System as well as project management and engineering services. The mooring system comprises an anchor base and a rotating yoke arm

Total announces major gas find offshore UK

FRENCH oil and gas giant Total has announced a major gas discovery on the Glendronach prospect, located offshore U.K. West of Shetland. The well was drilled to a final depth of 4,312 meters and encountered a gas column of 42 meters of net pay in a high quality Lower Cretaceous reservoir. Preliminary tests confirm good reservoir quality, permeability and well production deliverability, with recoverable resources estimated at about one trillion

Pancontinental’s Begg takes out Doran award

Pancontinental Oil and Gas CEO John Begg has been awarded the 2018 John Doran Award at the 18th RIU GoodOil Conference in Perth. The award puts the spotlight on a prominent personality who has delivered outstanding industry performance over a lifetime of achievement. Mr Begg has been a driving force in the discovery and development of globally-significant oil and gas reserves, delivering major finds on three continents throughout the course

Woodside aiming to bring Senegal’s first oil and gas project into operation in 2022

Leading Australian oil and gas company, Woodside, is aiming to commercialise Senegal’s first ever oilfield by 2022. Detailing the “SNE Development – Phase 1” schedule on the final day of the Paydirt 2018 Africa Down Under mining conference in Perth, Mr Jamie Stewart, Woodside’s Business Integration Manager for the Senegal Field Development, said a number of important items have already been ticked off in the lead-up to a Final Investment

Calima cleaning up final shares in Canadian partner acquisitions

ASX-listed Calima Energy Limited has moved a step closer to full ownership of its partners in the company’s promising Canadian oil and gas project by moving to compulsory acquire the remaining shares in TMK Montney Limited (TMKM) and TSV Montney Limited (TSVM). Calima announced the “friendly” takeover offers to the ordinary shareholders of each of TSVM and TMKM in May 2018 and has noe acquired 98.08% of TMKM’s and 91.20%