Latest News

TP/15 JV looking to fast-track Xanadu oil discovery off WA

THE Norwest Energy-led TP-15 permit JV is looking at the potential fast-track development of the Xanadu-1 oil find of the Mid-West coast of Western Australian. Located near the Cliff Head oilfield in shallow water west of Dongara, Xanadu-1 was confirmed at a discovery after oil was successfully brought to the surface during wireline operatiuons. The wireline logs over a 330m section of the well also confirmed reservoir quality sand intervals [...]

Orica and Strike finalise updated GSA

ONSHORE gas specialist Strike Energy Limited has announced the execution of a new Gas Sales Agreement with Orica International Pte Ltd for the supply of up to 64PJ of gas from Strike’s Southern Cooper Basin Gas Project (SCBGP) in South Australian permit PEL-96. Earlier this year Strike announced it had entered into the negotiation to replace an existing gas sales agreement entered into in 2014 for the supply of up [...]

Octanex reports successful sail away of Ophir project FPSO

AUSTRALIAN junior Octanex Limited has reported a major milestone achievement for the Ophir Project offshore Malaysia with the sail away of the field’s Floating Production Storage and Offloading (FPSO) vessel. MTCE Ledang is now on its way to the field from the Keppel Shipyard in Singapore. On arrival at the Ophir field, the FPSO will be anchored to the seabed and connected to the Ophir platform via a flexible 8” [...]

GLNG to deliver 30pj of gas into the East Coast domestic market

Santos has announced that the GLNG joint venture partners will supply 30 petajoules (PJ) of gas to the east coast domestic market over 2018 and 2019. The gas, which would otherwise have been exported as LNG, is being sold to east coast customers including power companies. Santos Managing Director and Chief Executive Officer Kevin Gallagher said the move follows months of constructive work with the Federal Government and the GLNG partners [...]

Critical Supply Chain and Procurement Strategies in the era of low oil prices

By Vinodkumar Raghothamarao, Director Consulting, Energy Wide Perspectives & Strategy, IHS Markit EMEA OIL and Gas companies operate in dynamic and complex environments, where they face constant supply and demand challenges. Now with the oil prices hovering at 50$ range, the need of the hour is to evaluate the supply chain and procurement techniques and costs. Oil and gas companies need to focus not only on their product supply chains, [...]

WA shuts down onshore fracking

The Western Australian Government has decided to implement a ban on fracking for existing and future petroleum titles in the South-West, Peel and Perth metropolitan regions – despite suggestions that similar moves on the eastern seaboard are linked to dramatically rising energy prices. A moratorium has also been placed on the use of fracking throughout the rest of WA. The State Government’s ban and moratorium prohibits companies from using fracking [...]

Sunrise development appears closer after maritime border meetings

The legal status of the Greater Sunrise area in the Timor Sea appears to be clearer following a series of successful meetings between the governments of Australia and Timor-Leste. Greater Sunrise was a major topic of discussions at the conciliation meetings between the Democratic Republic of Timor-Leste and the Commonwealth of Australia conducted by a Conciliation Commission  pursuant to the UN Convention on the Law of the Sea and under [...]

Aqualis completes Ichthys FPSO station keeping project

Marine and offshore engineering consultancy Aqualis Offshore has successfully completed its position keeping role for the Ichthys Venturer FPSO which is now fully moored  off the north west coast of Australia. The Ichthys Venturer FPSO arrived in Australian waters in mid-August, 220 kilometres off the north coast of Western Australia. Aqualis has since then managed the position keeping procedure and provided position keeping masters offshore while the FPSO was secured [...]

Carnarvon fast-tracking new Buffalo oil development off WA coast

Carnarvon Petroleum Limited is considering a range of new development options for the historic Buffalo oil field off the WA coast after new studies identified $1.5 billion in potential value. The company said an independently audited volumetric estimates of contingent resources in the Buffalo oil field had identified that were 31 million barrels of recoverable oil still remaining. This would make a new development of the field commercially viable, with [...]

AGL to sell North Queensland gas assets to Chinese group

AGL Energy Limited (AGL) has agreed to sell its North Queensland gas assets to a consortium of Shandong Order Gas Co. Ltd. (Shandong) and Orient Energy Pty Ltd (Orient). The assets comprise AGL’s 50% interest in each of the Moranbah Gas Project Joint Venture (MGPJV) and the North Queensland Energy Joint Venture (NQEJV) and AGL’s participation rights in the ATP1103 exploration licence located in the Bowen Basin. Arrow Energy Limited [...]