Latest News

Carnarvon identifies hundreds of millions of barrels in Dorado follow-up opportunities

HIGH flying Carnarvon Petroleum Limited has identified a number of follow-up targets totalling more than 600 million barrels with the confirmation of the exciting potential associated with this year’s Dorado-1 oil discovery off the north-west coast of Western Australia. Carnarvon, which drilled Dorado-1 in a JV with Santos’ takeover target Quadrant Energy in the underexplored Bedout Basin has now his completed its initial assessment of the follow-up oil prospects that

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

Beach to sell 40% of Victorian Otway interests for $344 million

BEACH Energy Limited and Eyal Ofer’s O.G. Energy Holdings Ltd, a member of the Ofer Global group of companies, have entered into a binding agreement whereby O.G Energy will acquire 40% of Beach’s Victorian Otway assets for $344 million in cash. Through their wholly-owned subsidiaries Lattice Energy Limited and OGOG (Otway) Pty Ltd (OGOG), Beach and O.G. Energy have signed a sale and purchase agreement under which OGOG will acquire

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

Greymouth Gas outlines claims against NZ Government

NEW Zealand owned and operated Greymouth Gas Turangi Limited has updated details on its lodgement of High Court claims against the New Zealand Government and its plans to halt offshore oil and gas exploration in the country. The Greymouth claims allege that: NZ Energy Minister Megan Woods’ decision declining to grant an offshore coastal permit to Greymouth following submission of a compliant bid in the 2017 Block Offer was not

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

New figures show NZ is digging itself into a massive financial hole with planned oil and gas ban

ENDING offshore oil and gas exploration could cost New Zealand taxpayers up to NZ$23.5 billion and increase emissions at the same time, according to new figures released by Government officials. New Zealand’s oil and gas industry lobby body, the Petroleum Exploration and Production Association of New Zealand (PEPANZ) says it is time for a re-think on plans to end new offshore exploration. “The Regulatory Impact Assessment (RIS) shows that ending

Jemena signs gas transportation agreement with Santos

LEADING energy-infrastructure company, Jemena, has signed a new gas transportation contract with Santos to ship around eight terajoules (TJs) of gas per day across the $800 million Northern Gas Pipeline (NGP). Gas transported as part of the agreement will be used to provide energy for local mining and mineral processing operations in the Mount Isa region. The new agreement means around 80 per cent of the NGP’s total available capacity

Woodmac report suggests that gas shortages loom in Australia

THE pace and scale of transformation in the east Australian gas market over the past five years has put gas – both its availability and its pricing – firmly on the country’s political agenda. Global natural resources consultancy Wood Mackenzie’s Australia East Coast Gas Market Outlook 2018-2032, suggests that the market has been severely disrupted by the Queensland LNG developments. “The Queensland LNG export projects have shattered the east coast’s ‘cheap

Cooper Energy signs new Otway Basin Gas Supply Agreement

Cooper Energy has announced that the Casino Henry Joint Venture has signed a new gas sales agreement with Origin Energy Retail Limited. The new agreement provides for supply from the joint venture to Origin Energy from 1 January 2019 to 1 January 2020 at current market prices. The joint venture has also entered into a new agreement with Lochard Energy for processing at the Iona Gas Plant for a minimum