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AMCHAM gathering local oil and gas industry participants for annual delegation to OTC

THE Perth office of the American Chamber of Commerce (AMCHAM) is putting the finishing touches on its preparation for its annual Australian delegation visit to OTC in Houstion in May. Since 1999, AMCHAM has been taking a large group of local oil and gas industry representatives to Houston to attend the world’s largest oil and gas event. Over the years the Australian delegation has led to numerous business opportunities for [...]

Drilling for savings

How energy, resources and marine companies can reduce costs By Peter Brady and Martin Lonergan* ALTHOUGH conditions seem to be improving in global oil markets, experience over the past years reveals that companies in the energy, resources and marine (ERM) sectors must continue to streamline processes to keep costs in control. Travel remains a key function for these companies to maintain their operations at rigs, fields or mines, which still [...]

The top five trends for Australian oil and gas companies in 2019

THE Australian oil and gas industry has earned its position as one of the most innovative and promising globally. Following a strong revival in 2018, the industry is expected to continue to play a crucial role in the growth and prosperity of Australia. This results largely from the increasing global demand for Australia’s Liquified Natural Gas (LNG). According to the government’s latest Resources and Energy Quarterly for December 2018, Australia [...]

Wood and KBR win Crux FEED project offshore Western Australia

WOOD and KBR,Inc. have secured  a multimillion dollar contract to deliver integrated front-end engineering  design (FEED) for Shell Australia’s Crux project to build a not normally manned  (NNM) platform and gas export pipeline located approximately 600km north of  Broome, offshore Western Australia (WA). The Crux facilities will be an important  source of backfill gas supply to the Shell-operated Prelude floating liquefied  natural gas (FLNG) facility. The remotely operated, minimum facilities [...]

Woodmac says exploration’s back in the black – and keen to stay there

AFTER a difficult few years, the exploration sector is back in the black – and keen to stay there. New studies from international industry anlysts Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year. “We are seeing a long-overdue recovery in the sector. Last year conventional exploration returns hit 13% – the highest calculated in more than a decade. As 2018’s [...]

Calima now a producer after bringing Canadian well on stream

AUSTRALIAN junior Calima Energy Limited (ASX: CE1) has achieved is first production with the successful recommencement of oil flow from the Paradise well in Canada. Calima Energy acquired a 50% interest in the Paradise well via the acquisition of TSV Montney Limited (TSVM) and subsequently and elected to acquire the remaining interest via a payment of C$130,000 after a desk top study confirmed its viability. The well, which is located [...]

Santos celebrates first oil from Van Gogh infill project

SANTOS has announced that first oil is flowing from the Van Gogh infill project, marking the successful completion of the two-well programme that will increase production from the field off the north west coast of Australia. The Van Gogh field is one of three subsea oil field developments located in the Exmouth Basin, offshore Western Australia, which tie into the Floating Production, Storage and Offloading vessel (FPSO), the Ningaloo Vision. [...]

Study forecasts a boost in Asia Pacific oil and gas investments

CONFIDENCE in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL. The study found that 76% of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own [...]

AGIG successfully commissions Pluto domestic gas connection

AUSTRALIAN Gas Infrastructure Group (AGIG) has successfully commissioned the Pluto Inlet Station – the new facility connecting the Pluto LNG Project to the Dampier to Bunbury Natural Gas Pipeline (DBNGP). The successful commissioning allows additional gas supply to reach Western Australian consumers. Woodside – which operates the Pluto LNG plant near Karratha in WA – engaged AGIG’s development group to undertake a Front End Engineering Design (FEED) study to convert [...]

WoodMac tips Brent crude to average US$65 a barrel in 2019

Global markets were volatile heading into the new year. Oil has been no exception, with Brent trading between $62 per barrel on 7 December 2018 before falling to $51/b on 21 December. Mixed macroeconomic data have driven much of the volatility, with political uncertainty compounding concerns of a sharper than expected economic slowdown. What oil price is justified by the fundamentals? Ann-Louise Hittle, vice president, for macro oils at Wood [...]