Latest News

WA Government introduces strict new fracking controls

FRACKING will not be permitted over 98% of Western Australia and, for the first time, traditional owners and farmers will have the right to say no to oil and gas production from fracking on their land. The WA Government has announced it will only lift the fracking moratorium on existing onshore petroleum titles following an independent scientific inquiry finding the risk to people and the environment is low. Under new [...]

Deploying your FPSO – the mitigation fiction vs. the technical and regulatory reality

By Nick Cooper and Tim Donisi, Clayton Utz KEY point: A poorly drafted (or non-existent) set-off clause could generate a costly and time consuming dispute about mitigation of loss and redeployment, but contractors can help avoid this pitfall. Like many pieces of equipment in the offshore oil and gas sector, floating, production, storage and offloading (FPSO) vessels are bespoke assets designed and constructed, at great capital expenditure, to comply with [...]

Timor-Leste adds to Greater Sunrise strength with deal to buy Shell share

SHELL Australia and the Government of Timor-Leste have entered into a Sales and Purchase Agreement (SPA) for the sale of Shell’s 26.56% interest in the Greater Sunrise fields. Earlier this year Timor-Leste reached a deal to acquire ConocoPhillips 30% share in the Woodside operated Greater Sunrise fields in the Timor Sea in a plan to push for the ling stranded gas fields’ development. “Timor-Leste appreciates Shell’s willingness to sell its [...]

Federal Treasurer confirms APA takeover quashed

FEDERAL Treasurer Josh Frydenberg has confirmed that the Australian government has turned back the bid of the consortium led by CK Asset Holdings Limited in its bod to acquire leading Australian gas pipeline operator APA Group. Minister Frydenberg last night advised CK of his final decision that its current proposed acquisition of APA Group would be contrary to the national interest, after issuing a previous warning. “I have formed this [...]

World first seismic sound experiment conducted off NW Australia

THE Australian Institute of Marine Science (AIMS) has conducted the first real-world seismic experiment to determine the effects of marine noise on fish and pearl oysters. The experiment, using the seismic vessel the BGP Explorer, surveyed two sites off the northwest of Western Australia over ten days. The experiment, which has taken the collaborative efforts of more than 100 people 12 months to design and co-ordinate, could help to clarify [...]

Woodside signs new Scarborough gas supply agreement

WOODSIDE Energy Ltd has entered into a long-term gas sale and purchase agreement (GSPA) with Perdaman Chemicals and Fertilisers Pty Ltd for the supply of pipeline gas for a term of 20 years. The GSPA is for a quantity of approximately 125 TJ of gas per day for use in Perdaman’s proposed urea plant near Karratha. Gas will be supplied from Woodside’s portfolio and primarily sourced from Woodside’s proposed Scarborough [...]

Tidewater announces successful completion of merger with GulfMark

OFFSHORE support specialist Tidewater Inc. has successfully completed its business combination with GulfMark Offshore, Inc. Tidewater and GulfMark stockholders overwhelmingly supported the business combination, with relevant proposals being approved by over 99% of the votes cast by Tidewater stockholders and GulfMark stockholders, respectively, in person or represented by proxy, not including abstentions, at the companies’ respective stockholder meetings earlier today. All necessary conditions to the closing have been satisfied and [...]

IEA Oil Market Report says industry is heeding the warnings

IN the IEA’s Octoer month’s Report, it noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia and the United States more than compensating for falls in production in Iran, Venezuela and elsewhere. New data show that the pace has accelerated, and this higher output, in combination with Iranian sanctions waivers issued by the US and steady demand growth, implies [...]

APA Group extends gas supply service to WA gold miners

LEADING gas pipeline operator APA Group has executed an agreement to extend and expand services to an existing customer in the Goldfields region, Western Australia. Under this contract, gas will travel over 1200km across APA’s West Coast Grid. The contract represents an extension and expansion of existing services and is expected to generate approximately $45 million of revenue, of which approximately $21 million is renewal revenues, over the five year [...]

Papua LNG JV signs agreement with PNG Government

IN a major milestone in the further development of Papua New Guinea’s LNG industry, the Total-led Papua LNG consortium has signed a Memorandum of Understanding (MOU) with the PNG Government. The Papua LNG JV is proposing to develop the massive Elk-Antelope gas discoveries to provide the base for a major expansion of PNG’s already highly successful PNG industry. Papua New Guinea’s own gas powerhouse, Oil Search Ltd (a member of [...]