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Oil & Gas

Carnarvon cheers Pavo resource estimate near Dorado

Australia’s Carnarvon Energy (ASX:CVN) reported that the recent Pavo-1 exploration well drilled offshore Australia proved up a “substantial volume of light oil in excellent quality reservoirs” and “significantly increases Carnarvon’s oil resources for potential development through the Dorado facilities.”

Oil & Gas

Ichthys legal spat settled says KBR

KBR said it expects to receive a total of $271 million under a tentative settlement with a consortium that included GE and Australian construction giant CIMIC Group in a contract dispute over work at the Inpex-operated Ichthys project in Australia.

Oil & Gas

EnerMech wins five-year deal for Inpex Ichthys LNG

Global integrated solutions specialist EnerMech has been awarded a five-year onshore and offshore inspection services, lifting equipment and crane maintenance contract by Japan’s Inpex at its Ichthys liquefied natural gas (LNG) export project in northern Australia.

Oil & Gas

ExxonMobil to boost Australian gas with $295m investment and more to come

ExxonMobil (NYSE:XOM) has taken a final investment decision (FID) to spend A$400 million ($295 million) on developing additional gas from the Gippsland basin Kipper field offshore Australia. Significantly, the country’s main industry lobby group said there is a massive opportunity for Australia to have more big investment decisions like this – but crucially the policy settings have got to be right.


Critics say Santos’ Barossa LNG should be halted until CCS scheme proven

The Institute for Energy Economics and Financial Analysis (IEEFA) believes the start of work on the Santos-led Barossa liquefied natural gas (LNG) development offshore northern Australia should be suspended as the associated carbon capture and storage (CCS) scheme, proposed by the operator, remains problematic and will not cut emissions. Otherwise the CCS project should be viewed as nothing more than ‘green washing’ and a diversion while construction continues, said IEEFA.