LEADING PNG petroleum company Oil Search Ltd has released details of a plan to reduce its workforce by 34% in light of the industry downturn. The company, which recently completed a detailed and systematic review of its organisation and cost structure, which came up with some significant findings, including:
By Dick Bussiere, technical director, APAC at Tenable AUSTRALIA’S oil and gas industry is central to the nation’s economic growth and accounts for $34.5 billion of annual income. Its ability to handle this incredible demand hinges on taking advantage of
By Christophe Bourdeau from Accenture Australia and New Zealand’s Resources practice. THERE is no doubt 2020 will be a year to remember for the oil and gas industry, thanks to the dual threat of supply side disruptions and the widespread demand
Horizon Oil Ltd reports that an investigation has cleared the company of any wrongdoing in its payment to acquire an interest in PNG Petroleum Retention Licence (PRL) -21 in 2011 it has been found to have not breached any bribery
OPEC+ today agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl. Ann-Louise Hittle, vice president, Macro
A PIONEERING renewable hydrogen production facility being developed in Adelaide today celebrates a construction milestone with the start of installation of its key component, an electrolyser at Hydrogen Park South Australia (HyP SA). Project developer, Australian Gas Networks (AGN) –
THE WA Government and the City of Busselton have officially launched the South-West’s first community battery storage system in Busselton. WA Energy Minister, Bill Johnston, said the new utility-grade 464kWh Tesla battery will improve power quality and help upgrade the
SAMSUNG Electronics has delivered on its promise to release a “business friendly, resource industry rugged smartphone that brings a whole range of tasks to your fingertips. Samsung’s new Galaxy XCover Pro, a smartphone designed and engineered for frontline workers across
GLOBAL hydraulic tool and lifting leader Enerpac is introducing to Australia, New Zealand and PNG a new compact, portable and powerful air-powered torque wrench pump for high productivity in hard-to-access locations. Weighing in at approx. 18kg with oil, the Enerpac
SPECIALISED engineering company SRJ Technologies has bolstered its governance capabilities with the appointment of two new board members. Joining SRJ are Australian corporate compliance advisor Grant Mooney and Jersey-based digital and technology advisor Andrew Mitchell (left). The appointments follow the
CENTRAL Petroleum Limited has appointed the highly experienced Dr Agu Kantsler as a director of the company, effective June 15, 2020. Central’s chairman, Wrix Gasteen said Dr Kantsler is one of Australia’s most respected and experienced petroleum exploration executives, having
OPEC+ today agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl. Ann-Louise Hittle, vice president, Macro
SANTOS has completed the acquisition of ConocoPhillips’ northern Australia and Timor-Leste assets for a reduced purchase price of US$1.265 billion plus an increased contingent payment of US$200 million subject to a final investment decision (FID) on Barossa. Due to recent
THE global oil and gas pipeline sector is facing several headwinds such as fall in the oil and gas prices, demand destruction and a weak global economic outlook. The pipeline operators are being forced to cut capex on upcoming projects,
SIEMENS Gas and Power has been awarded a contract to supply two SGT-400 gas turbine compression packages for Midcoast Energy, LLC’s CJ Express pipeline expansion project in east Texas. WHC Energy Services, supported by Universal Pegasus International, will be the
