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Beach to sell 40% of Victorian Otway interests for $344 million

BEACH Energy Limited and Eyal Ofer’s O.G. Energy Holdings Ltd, a member of the Ofer Global group of companies, have entered into a binding agreement whereby O.G Energy will acquire 40% of Beach’s Victorian Otway assets for $344 million in cash. Through their wholly-owned subsidiaries Lattice Energy Limited and OGOG (Otway) Pty Ltd (OGOG), Beach and O.G. Energy have signed a sale and purchase agreement under which OGOG will acquire

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

$2 million boost for east coast Gas Acceleration Program

A PROJECT to restart gas processing facilities in South West Queensland will get a $2 million boost from the Australian Government’s $26 million Gas Acceleration Program, increasing gas supply to the East Coast market. Federal Minister for Resources and Northern Australia Matt Canavan said the funding would allow Australian Gasfields Limited to bring forward by a year the refurbishment and restarting of the Eromanga and Gilmore Gas Plants, adding a

Philippine President starts new Cebu onshore oil and gas field

PHILIPPINE President Rodrigo Duterte was on hand to turn the valves for the official start-up of production at the Alegria Oilfield in southern Cebu island. The President was joined by the Secretary of the Department of Energy (DOE) Alfonso Cusi at the inauguration ceremony which signaled the start of the commercial production of oil and gas in the oilfield, which is currently being operated by China International Mining Petroleum Limited

Esso announces completion of Longford Gas Conditioning Plant

ESSO Australia has announced the completion of its Longford Gas Conditioning Plant, which processes gas from the Kipper Tuna Turrum development. Production from the gas conditioning plant marks the completion of the AUD$5.5 billion Kipper Tuna Turrum development – the largest domestic gas project on Australia’s eastern seaboard. The development will supply 1.6 trillion cubic feet of gas to eastern Australia – enough to power a city of one million

Ocean Monarch preparing to commence Casino-5 workover

COOPER Energy reports that the Diamond Offshore Ocean Monarch drill rig has completed mobilisation from offshore Fremantle to the Casino Henry gas project, Otway Basin, offshore Victoria and is preparing to commence the workover of the Casino-5 well. Cooper Energy has a 50% interest and is operator of the Casino Henry gas project, with other interest holders being Mitsui E&P Australia Pty Ltd (25%) and AWE Limited (25%). The workover

Wood wins five-year INPEX contract

WOOD has been awarded the brownfield engineering services contract for the INPEX-operated Ichthys offshore facilities, located 220 kilometres off the coast of Western Australia and onshore liquefied natural gas (LNG) processing facilities in Darwin, Northern Territory. Effective immediately, the contract is for five years with a two-year extension option and will be executed from Wood’s offices in Perth. It includes the delivery of engineering services to support the execution of

Sino gains US$100M Macquarie backing for Chinese projects

ASX-listed Sino Gas & Energy Holdings Limited has secured a five-year, US$100 million debt facility with Macquarie Bank to fund the developments and an acquisition in China. The company said the debut facility. along with cash on hand and anticipated cash flow from operations, will fully fund its share of the Linxing and Sanjiaobei projects and the exercise of an option over the Linxing project upon Overall Development Plan (ODP)

Australian LNG industry riding high on China boom

Australian LNG exports hit 56.8 million tons (Mt) in calendar 2017, jumping 26.3% from 44.9Mt in the year prior. Combined with higher oil prices, the increase in volumes pushed up Australia’s 2017 LNG export revenue by 44.1% to A$25.8 billion, according to the December LNG report from respected energy consultancy, EnergyQuest. EnergyQuest CEO, Dr Graeme Bethune, said today 2017 had been a watershed year for Australia’s LNG industry, with growth

Steam operations commence at Edam West

MARKING its third thermal project to be brought online this year, Husky Energy has commenced steam operations at the 4,500 barrels per day (bbls/day) Edam West Thermal in Saskatchewan. Husky said the 10,000 bbls/day Edam East Thermal project, which achieved first oil in April, is now producing above its design rate at about 11,000 bbls/day. At the 10,000 bbls/day Vawn development, first production has started about six weeks after steaming