Latest News

First discovery of live oil onshore Jamaica

CGG GeoConsulting and the Petroleum Corporation of Jamaica (PCJ) have announced the discovery of two independent live oil seeps from different parts of the island of Jamaica. This significant find marks the first documented occurrence of ‘live’, or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean. The oil seeps were found during fieldwork for a recently completed [...]

Wood wins five-year INPEX contract

WOOD has been awarded the brownfield engineering services contract for the INPEX-operated Ichthys offshore facilities, located 220 kilometres off the coast of Western Australia and onshore liquefied natural gas (LNG) processing facilities in Darwin, Northern Territory. Effective immediately, the contract is for five years with a two-year extension option and will be executed from Wood’s offices in Perth. It includes the delivery of engineering services to support the execution of [...]

Santos reaches $100 million domestic gas deal with New Century Resources

SANTOS has entered into a long-term agreement to supply natural gas to New Century Resources Limited in northwest Queensland. Under the gas supply agreement, Santos will provide over the next four years around 9PJ of portfolio gas worth in the order of $100 million delivered, to generate electricity for New Century’s zinc mine near Mt Isa. Santos says the use of gas to generate electricity for the mine is not [...]

NERA to provide significant funding for new oil and gas industry projects

SEVEN innovative oil and gas-related projects are to receive funding support from the Australian Government’s energy resources industry growth centre, NERA NERA has announced funding of $2.1 million for a range of national projects, aimed at improving the global competitiveness of the energy sector, by addressing key industry issues relating to sustainability, efficiency and diversity. The projects are expected to leverage an additional $2.4 million in industry funding, bringing the [...]

Woodside to pay up to $744 million for 50% Scarborough gas field interest

WOODSIDE has entered into a binding Sale and Purchase Agreement (SPA) to acquire ExxonMobil’s share of the Scarborough gas field located in the Carnarvon Basin, offshore Western Australia. The sale is subject to a number of conditions, but if completed will see Woodside pay ExxonMobil $444 million initially and a contingent payment of $300 million upon positive Final Investment Decision (FID) for a Scarborough development. Woodside is looking to commercialise [...]

Woodside to raise A$2.5 billion to support major growth plans

WOODSIDE has launched a fully underwritten entitlement offer to raise approximately A$2.5 billion for the funding of a string of major new growth projects in Australia. The funding will provide for the acquisition of up to an additional 50% interest in the Scarborough gas field and for general corporate purposes, including funding support for the Scarborough and SNE- Phase 1 developments and to progress development of Browse to targeted FID. [...]

Survey Says: More Oil Producers Moving Toward a Risk-based Approach for Asset Life Extension

Producers have discovered that a risk-based inspection approach can cut costs if it’s implemented properly, says an OGIQ survey. Now, it’s a matter of increasing the adoption rate. By Anne-Marie Walters         While the low price of oil is providing relief to consumers at the gas pump, pressure is being put on offshore oil producers in this current economic environment to get more life out of the [...]

Melbana reports early oil shows from Pukatea well in NZ

ASX-listed Melbana Energy Limited, formerly MEO, has reported some promising results from the currently drilling Pukatea-1 exploration well in New Zealand onshore permit PEP-51153. Melbana reported that the well penetrated the secondary Mt. Messenger objective, which was encountered two metres high to prognosis, recording encouraging oil shows over a 14mMD gross interval. The company said the significance of these shows will be assessed when the zone is wireline logged (anticipated [...]

Deep Sea Mooring lands Quadrant drilling support contract

DEEP Sea Mooring (DSM) has secured a contract with Quadrant Energy to provide turnkey pre-lay mooring solutions to the Transocean GSF Development Driller 1 semi- submersible drilling rig of the north west coast of Australia. The deal – a continuation of previous work for Quadrant Energy – begins in March 2018. The agreement – with the project scope and engineering consultancy coordinated out of Perth – will enable Quadrant to [...]

Just five weeks until Australia’s largest oil and gas event opens its doors

Some of the biggest names in the global petroleum industry will be sharing their views on the state of the rebounding sector when Australia’s largest oil and gas event, the Australasian Oil & Gas Exhibition & Conference (AOG 2018), opens its doors in Perth in five weeks’ time. Representatives from leading oil and gas producers are being joined by some of the biggest service and supply companies and participants from [...]