The plan for development and operation (PDO) of the second phase of the Johan Sverdrup field development has been formally approved by Norwegian authorities. Construction has also started on the field’s second processing platform at Aibel’s yard in Haugesund. “This is a big day for Equinor and the other Johan Sverdrup partners comprising Lundin Norway, Petoro, Aker BP and Total. Johan Sverdrup is a world-class field that will provide value
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
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
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
A STUDY by international marine movement specialists VesselValue has assessed that almost 40% of the world’s offshore vessels are currently laid up. VesselsValue’s head of Offshore Robert Day says that it is no secret that the Offshore sector is suffering. “Estimating the number of vessels in layup is an imperfect science, however, using a big data approach VesselsValue can provide a valid estimation using the following methodology,” Mr Day said.
WOODSIDE Energy Trading Singapore Pte Ltd has signed an agreement with RWE Supply & Trading GmbH for the mid-term supply of LNG commencing in the fourth quarter of 2020 and in effect until December 2022. Woodside EVP Marketing Trading & Shipping’s Reinhardt Matisons said the LNG would be supplied on an FOB basis with the primary source being volumes Woodside has contracted from the Corpus Christi LNG Project in Texas,
FRNCE’S Total has signed an agreement to divest a 4% interest in the Ichthys LNG project in Australia to operating partner INPEX for an overall consideration of US$1.6 billion. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%. “This transaction is part of our constant portfolio review to optimize our capital allocation,” said Arnaud Breuillac, President, Exploration & Production at Total. “Ichthys
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
FORECASTS by the International Energy Agency (IEA) confirm that the global demand for natural gas will surge over the next 20 years, creating a phenomenal economic opportunity for Australia. APPEA Chief Executive Dr Malcolm Roberts said the IEA’s latest World Energy Outlook shows that a growing natural gas industry is an essential part of a cleaner energy future. “In the IEA’s New Policies scenario, demand for natural gas is expected
ASX-listed Calima Energy (ASX: CE1) has welcomed the news that a Shell-led JV has approved the go-ahead for the massive LNG Canada project at Kitimat. Calima, which is preparing to drill its first well in its Montney project area in Canada, is expected to see benefits from the billions in new infrastructure that will located near its assets, as well as a forecast increase in local gas and liquids pricing.