Timor-Leste to acquire interest in Greater Sunrise Fields from ConocoPhillips

THE Government of Timor-Leste and ConocoPhillips have reached agreement on terms for the sale of ConocoPhillips’ 30% interest in the Greater Sunrise Fields. The Prime Minister of Timor-Leste congratulated the Parties on successfully reaching an agreement, which benefits both Parties and is expected to allow Timor-Leste to proceed with discussions with the other Greater Sunrise Joint Venture members on future development of the Greater Sunrise resources. Timor-Leste’s Special Representative, Xanana

Jumbo contracted to transport FSRU from Batam to Brazil

HEAVY Lift specialist Jumbo has been awarded the contract for the transportation and Installation of a FSRU Mooring System including riser and umbilical, off the coast of Aracaju, Sergipe, Brazil Jumbo’s Offshore division was awarded the contract by Sapura to perform the transportation and installation of the FSRU’s Mooring System as well as project management and engineering services. The mooring system comprises an anchor base and a rotating yoke arm

Total announces major gas find offshore UK

FRENCH oil and gas giant Total has announced a major gas discovery on the Glendronach prospect, located offshore U.K. West of Shetland. The well was drilled to a final depth of 4,312 meters and encountered a gas column of 42 meters of net pay in a high quality Lower Cretaceous reservoir. Preliminary tests confirm good reservoir quality, permeability and well production deliverability, with recoverable resources estimated at about one trillion

Pancontinental’s Begg takes out Doran award

Pancontinental Oil and Gas CEO John Begg has been awarded the 2018 John Doran Award at the 18th RIU GoodOil Conference in Perth. The award puts the spotlight on a prominent personality who has delivered outstanding industry performance over a lifetime of achievement. Mr Begg has been a driving force in the discovery and development of globally-significant oil and gas reserves, delivering major finds on three continents throughout the course

Woodside aiming to bring Senegal’s first oil and gas project into operation in 2022

Leading Australian oil and gas company, Woodside, is aiming to commercialise Senegal’s first ever oilfield by 2022. Detailing the “SNE Development – Phase 1” schedule on the final day of the Paydirt 2018 Africa Down Under mining conference in Perth, Mr Jamie Stewart, Woodside’s Business Integration Manager for the Senegal Field Development, said a number of important items have already been ticked off in the lead-up to a Final Investment

Calima cleaning up final shares in Canadian partner acquisitions

ASX-listed Calima Energy Limited has moved a step closer to full ownership of its partners in the company’s promising Canadian oil and gas project by moving to compulsory acquire the remaining shares in TMK Montney Limited (TMKM) and TSV Montney Limited (TSVM). Calima announced the “friendly” takeover offers to the ordinary shareholders of each of TSVM and TMKM in May 2018 and has noe acquired 98.08% of TMKM’s and 91.20%

Australia’s resources and energy exports hit record levels

AUSTRALIA’S resource and energy export figures are on track to set a new record of $226 billion in 2017–18 – and go even higher this year – according to an in-depth Government report released. Minister for Resources and Northern Australia Matt Canavan said strong demand and prices for LNG, iron ore and coal in particular were pushing total exports from the sector to the new records. “It is likely coal

Calima to benefit from $72 billion of proposed investment in Western Canadian gas pipeline infrastructure

A STRATEGIC review undertaken by Australian oil and gas company Calima Energy Limited has identified a number of new opportunities to support its proposed development of its large land-holding in the hydrocaron rich Montney play in Canada. Calima, which is targeting becoming a gas and condensate producer within the next six months, has identified more than C$70 billion (approx. A$72 billion) of proposed infrastructure investments potentially adding more than 8

Wood Mac says LNG market looking strong as China takes up the slack

LEADING oil and gas research firm Wood Mackenzie is forecasting a rebalancing of the LNG market with fears of oversupply beginning to ease. According to Massimo Di Odoardo, Wood Mackenzie’s VP Global Gas and LNG, record demand from China has absorbed a large part of the additional 33 million tonnes (mt) of LNG supply in 2017, with the question being can it continue to support the market? “We think yes

Exxon aiming to double earnings capacity by 2025

EXXONMOBIL has revealed plans to more than double its earnings potential by 2025. The company’s chairman and CEO Darren Woods told shareholders during the company’s annual meeting that the world’s growing energy needs will require trillions of dollars in new investment across industry, even under a scenario to limit the global increase in temperature to two degrees Celsius. Mr Woods said the company will continue to focus on investments that