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APPEA says lifting of NT fracking moratorium will create jobs, investment and energy benefits

THE Australian Petroleum Production & Exploration Association (APPEA) has welcomed an announcement by the Northern Territory Government that the near two-year moratorium that stalled onshore gas exploration and development would end, enabling the creation of thousands of jobs in the Territory, billions of dollars of government revenue and the delivery of much-needed energy supply for the NT and the nation. The Government has accepted the key finding of the Scientific [...]

Government celebrating go-ahead for Gorgon Stage 2

THE Western Australian Government has welcomed news that Chevron has elected to move to the next stage of development of the giant Gorgon Project. WA Premier, Mark McGowan, said Chevron Australia’s subsea development at Gorgon will create hundreds of Western Australian jobs, continued domestic gas supplies and provide a major boost to the State’s economy. The Gorgon Stage Two Project (GS2) will kick-off in 2019 with drilling set to commence [...]

New Zealand industry shocked by Government decision on permits

The Petroleum Exploration and Production Association of New Zealand (PEPANZ) has lashed out at a decision by the Government to halt offshore Block Offers, saying it is likely to affect New Zealand’s energy security and international reputation. “The decision is a lose-lose for New Zealand’s economy and environment, likely to threaten jobs and mean higher prices for consumers,” says PEPANZ CEO Cameron Madgwick. “This will do nothing to reduce global [...]

Well Intervention and P&A market booms in the Asia Pacific

With the well intervention market expected to grow globally from an estimated US$8.18 billion in 2017 to US$9.85 billion by 2022, the Asia Pacific is one of the region set to most benefit from this wave of activity as it combines all threw factors driving the upsurge: a rise in energy demand, an increase in oil & gas production and a need to revitalise ageing fields. The Asia Pacific region [...]

Santos receives take-over bid from US-based investment firm

Leading Australian oil and gas company Santos has revealed that it has received an unsolicited take-over offer from US-headquartered Harbour Energy Ltd. Harbour Energy, an energy investment vehicle formed by EIG Global Energy Partners, has proposed a non-binding, indicative and conditional offer to acquire 100% of Santos shares by way of a scheme of arrangement. The indicative offer price is US$4.98 per share, which in Australian dollars, is equivalent to [...]

Another Project Atlas milestone for Senex

SENEX Energy has been granted a Petroleum Lease and preliminary environmental approvals from the Queensland Government to develop Project Atlas for domestic gas supply. Project Atlas is a high quality coal seam gas permit located south east of Wandoan in Queensland’s Surat Basin.  Senex was awarded the permit by the Queensland Government in September 2017 following a competitive tender. Senex managing director and CEO Ian Davies said the grant of [...]

Record 32.7 million tonnes of LNG shipments for WA in 2017

A 38% increase to a record 32.7 million tonnes of LNG shipments helped the Western Australian resources industry reached several milestones in 2017, according to statistics released by the Department of Mines, Industry Regulation and Safety. Strong growth in LNG volumes with new projects coming on line, higher iron ore prices and the gold sector’s continued strength contributed to reported sales of $108.8 billion, a 16% increase from 2016. Along [...]

ACCC approves joint marketing of NT gas

THE Australian Competition and Consumer Commission (ACCC) has authorised joint marketing arrangements for gas between Northern Territory gas producers Central Petroleum and Macquarie Mereenie, a subsidiary of Macquarie Group Limited, for three years. The two companies are authorised to market gas produced from the Mereenie field under contracts with common terms and conditions, including price. “Joint marketing allows further conventional gas in the Mereenie field to be developed sooner than [...]

APPEA says its time to make a decision on NT fracking ban

THE Australian Petroleum Production & Exploration Association (APPEA) says that with the release of the final report of the Scientific Inquiry into Hydraulic Fracturing in the Northern Territory the NT government needs to move quickly to clarify a situation that has had a significant effect on onshore exploration in the Territory. According to APPEA, the final report of the Scientific Inquiry into Hydraulic Fracturing in the Northern Territory confirms the [...]

Pukatea-1 successfully flows oil in NZ

Australia’s Melbana Energy Limited reports that a successful successful production test has been undertaken at the Pukatea-1 in onshore Taranaki Basin permit PEP-51153 in New Zealand. Melbana said the production test of the Pukatea-1 oil zone found in the Mt. Messenger formation has flowed oil at an intial rate of 600bbls day on a 28/64” choke. The well flowed naturally without the aid of artificial lift. Testing of the zone [...]