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Oil price falls despite OPEC production cutback extension

AS expected, OPEC and a large group of Non-OPEC supporting countries have agreed to continue their push to stablise oil prices by continuing to restrict production from their respective countries. In an overnight gathering in Vienna, Ministers from OPEC Member Countries met with their counterparts from non-OPEC oil producing countries with an agreement reached to extend production cut-backs for a further nine months – commencing from July 1. In announcing [...]

TAG’s Cheal exploration well pays off in NZ

TAG Oil Ltd has announced the successful drilling and flow testing of the Cheal-E8 exploration well in the onshore Taranaki Basin in New Zealand. The well will now be tied-in to TAG Oil’s existing infrastructure in the area as a permanent producer. The Cheal-E8 well was drilled on TAG Oil’s 70% working interest and operated Cheal East permit (PEP -54877). The well was drilled to a total measured depth of [...]

CGG Launches Multi-Physics Imaging

CGG’s Multi-Physics business line has launched its Multi-Physics Imaging group, consolidating its recognized expertise in multi-physics data processing and interpretation, trusted technical consulting services and specialized commercial software development into a single global team. As a complement to CGG’s leading seismic Subsurface Imaging capabilities, Multi-Physics Imaging helps oil and gas, geothermal and mining companies around the world gain a more complete understanding of the subsurface by optimizing the value of [...]

Woodside highlights offshore WA gas developments as being on the Horizon

The local oil and gas supply sector, wondering is there were any new projects coming over the “Horizon” have been provided with a major boost with Woodside today highlighting a string of new projects that are firmly in its development schedule. Woodside today outlined its plans to further grow production in the years ahead, focusing on what it describes as “cost-effective opportunities to maximise the potential of its existing assets while unlocking [...]

Fostering innovation – A subsea perspective – The Board of Subsea Energy Australia

Foreword by Marius Martens, Riser Systems Manager for INTECSEA and SEA Chairman Last month I attended a talk by NASA Astronaut Dr Scott Parazynski at the CORE Resources Innovation Hub in Perth’s CBD. It turns out that not only is he the only person to have walked on both the Moon and the top of Mount Everest, but he is also a physician, inventor and founder of seven tech startups. [...]

$8 million Victorian pipeline to bring gas to business and homes

More than 1300 homes and businesses in a thriving area of regional Victoria are now able to benefit from the many advantages of using natural gas following the construction of a new $8 million, 14 kilometre natural gas pipeline. The country’s leading gas distribution company, Australian Gas Networks, has built the gas pipeline from Pakenham South to Koo Wee Rup, a region located about 65km south east of Melbourne. The [...]

Jemena acquires Darling Downs gas transmission pipelines

NT Gas pipeline builder and operator Jemena has reached agreement to acquire the Origin Energy-owned Darling Downs Pipeline System (DDPS) following an extensive six-month due diligence process. Jemena will now focus on safely and efficiently integrating the DDPS into its portfolio of gas transmission assets which includes the Eastern, Queensland, and Northern Gas Pipelines. The transition period will commence in early June following financial close and is expected to conclude [...]

Deloitte: Decommissioning has potential to be Australia’s next oil and gas boom

The upcoming decommissioning wave represents a perfect ‘greenfield’ opportunity for Australia’s oil and gas industry to apply innovative thinking, new technologies, new workforce skills and collaborative approaches, according to a new report ‘Decommissioning: The next wave of opportunity in Australian oil and gas’ from leading professional services firm Deloitte. “Decommissioning is an opportunity for Australia to demonstrate global leadership in this inevitable final stage of the oil and gas lifecycle,” [...]

APPEA welcomes new Queensland GasFields Commission legislation

The Australian Petroleum Production & Exploration Association (APPEA) has welcomed the release of proposed legislation to enhance the operations of the Queensland GasFields Commission. APPEA Queensland Director Rhys Turner said the proposed package of reforms unveiled by Queensland State Development Minister Dr Anthony Lynham was based on a balanced review of options. “Queensland is a case study in how agriculture, regional communities, and natural gas production can work together to [...]

Clough Amec in Perth earns ConocoPhillips’ recognition

The Clough AMEC joint venture in Perth have received a ‘doing business better’ supplier recognition award from ConocoPhillips for works completed on the Bayu-Undan project in the Timor Sea. ConocoPhillips’ Australia West business unit, nominated Clough AMEC and it was chosen as a winner by a global cross-functional committee that included senior management from the company. The award recognises the work undertaken by Clough AMEC following the commencement of the Bayu-Undan [...]