European gas prices slump as risk of Australian strike recedes
With inventories nearly full well before the start of the heating season and industrial demand subdued, the continent for now remains well supplied.
Australasia
Oil and Gas Australasia
Inpex, Total secure more gas for Ichthys exports
"This acquisition is also supported by the efforts undertaken with Inpex in the Bonaparte CCS Assessment joint venture to appraise the area’s potential for geological storage of CO2, in order to abate CO2 emissions from the Ichthys LNG project.”
Australian union flags safety concerns at Woodside platform
The OA said Woodside should be held to account for “running their facilities and their workforce into the ground. Clean your act up Woodside as the health and safety of our members and your 'Licence to Operate' depends on it.”
Wood wins Woodside extension, FEED work
Woodside also awarded Wood front-end engineering and design (FEED) work for the Goodwyn Alpha Low-Low Pressure project, off Western Australia.
Contractor woes at Waitsia drive Beach changes
Beach Energy has appointed a new CEO, Brett Woods, as it faces the fallout from challenges at its Waitsia project.
Australia’s Santos reports $2.5bn profit surge from higher oil and gas prices
Santos (ASX:STO) today announced its full-year results for 2022, reporting record free cash flow of US$3.6 billion and underlying profit jumping 160% to US$2.5 billion. The results reflect significantly higher oil and LNG prices compared to 2021, due to stronger global energy demand, combined with a higher interest in PNG LNG following its merger with Oil Search.
All Australasia Posts
Twist of irony as East Timor eyes LNG imports
East Timor is considering building a liquefied natural gas (LNG) import terminal and converting oil-fired power plants to gas in an effort to slash energy supply costs and cut greenhouse gas emissions. The move seems slightly ironic given the country advocated developing an LNG export complex for much of the past decade.
Santos’ Barossa LNG emissions create major risks for shareholders
Santos’ proposed offshore Barossa gas field development off Australia’s Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into liquefied natural gas (LNG), finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).
Santos approves $3.6bn Barossa LNG project
Santos has approved final investment for its $3.6 billion Barossa gas and condensate project off Australia’s Northern Territory that is targeting production in 2025. The go-ahead marks the biggest investment in Australia’s oil and gas sector since 2012.
Australia’s Bass Oil ramps up Indonesia drilling
Australian-listed producer Bass Oil is planning new development drilling at its onshore oilfields in south Sumatra as it seeks to double its output in Indonesia over 2022.
Santos hands out FPSO deal for $3.6bn Barossa LNG scheme
Australia’s Santos has awarded the biggest contract tied to its $3.6 billion Barossa liquefied natural gas (LNG) project in northern Australia that will backfill Darwin LNG. This offers a strong signal that a final approval for the scheme is imminent.
Australia rules against Thailand’s PTTEP over oil spill
The Indonesian government has welcomed an Australian court ruling ordering Thailand’s PTT Exploration & Production (PTTEP) to pay compensation to Indonesian seaweed farmers following the 2009 Montara oil spill. The total bill could top more than $262 million.
Indonesian producer eyes Australian acquisitions
Bass Oil is seeking Australian upstream acquisition opportunities, which are largely being ignored by the market amid the energy transition, to complement its increased activities in Indonesia.
Woodside and Trafigura team up for first carbon condensate offset cargo
Woodside Energy and its Pluto LNG joint venture partners Kansai Electric and Tokyo Gas have delivered their first cargo of carbon offset condensate to commodity trading company Trafigura.
Xodus bolsters Asia Pacific team as decommissioning boom starts
Global energy consultancy Xodus Group has appointed a new late life and decommissioning lead in Asia-Pacific following a significant increase in activity in the region.
EnerMech lands Chevron Australia deal
Aberdeen-headquartered EnerMech has been awarded a five-year contract extension with Chevron for oil and gas facilities in Western Australia.
Australia braces for $40bn decommissioning wave
More than A$50 billion ($40.5 billion) of necessary decommissioning work needs to be carried out on Australia’s offshore oil and gas infrastructure, over half of which must be started within the next ten years.
Blow for Santos as China’s ENN exits
Santos said today that its largest shareholder had sold about one third of its stake worth A$785 million ($603.7 million) in the Australian gas producer. This ends a strategic relationship with ENN Group, which is one of the largest gas distributors in China.
Woodside stops Myanmar work after violence
Australia’s Woodside Energy is reducing its presence in Myanmar and expects to fully demobilise its offshore exploration drilling team over the coming weeks following reports of human rights violations in the Southeast Asian nation.
Jadestone seeks FPSO for Vietnam
Asia Pacific-focused Jadestone Energy is preparing to re-issue a tender for a floating production storage and offloading (FPSO) vessel for its planned gas development at Nam Du and U Minh off Vietnam.
Woodside signs 7-year LNG supply deal with RWE
Australia’s Woodside Energy is set to supply 0.84 million tonnes per year of liquefied natural gas (LNG) to RWE, Germany’s largest power producer, for seven years starting 2025.
Santos eyes growth projects, readies Barossa LNG
Australia’s Santos today confirmed its Barossa liquefied natural gas (LNG) export project is on track for final investment approval during first half 2021 after reporting a net loss of $357 million for 2020.
Woodside readies giant Scarborough project despite $4bn loss
Woodside Petroleum reported a net loss of almost $4.03 billion for 2020 despite delivering a record full-year production of 100.3 million barrels of oil equivalent (boe). Still, its proposed $12 billion Scarborough liquefied natural gas (LNG) export project in Australia remains on track for final investment approval later this year.
Rystad expects $15bn of Australasia upstream projects to get nod
New upstream oil and gas projects worth about $15 billion will be sanctioned in Australasia this year, according to Rystad Energy’s forecast, marking a huge boost compared to the $1.2 billion committed to new projects in 2020.
Shell to sell stake in Australian LNG facilities for £1.9bn
Shell has struck a deal to sell a 26.25% stake in the Queensland Curtis LNG (QCLNG) common facilities to Global Infrastructure Partners Australia for £1.9 billion.
Australia’s Santos steals a march with Barossa LNG deal
The Santos-led Barossa LNG export project is on track for a final investment decision (FID) within six months after drastically cutting costs and securing a major Japanese buyer for some of Australia’s dirtiest LNG.
Woodside helps Australian offshore exploration spend hit 44-year low
Despite offshore exploration spending hitting a new low, drilling activities are expected to ramp up, with BP’s exciting Ironbark-1 well targeting a potentially giant gas deposit off Western Australia and Santos probing an exciting shale formation in Northern Australia
BOSS aims to find sweet seismic spot
The energy industry has a reputation for being slow to support new technologies, but one exception to this generalisation is the rise of autonomous offshore vehicles.
BP backs robot BOSS
Blue Ocean Seismic Services (BOSS) has won £10 million of backing from a range of companies including BP Ventures, Woodside Energy and Blue Ocean Monitoring.
Job hopes as MODS sells stake to Japanese firm
Bosses at MODS are planning a recruitment drive after selling a 40% stake in the family-owned energy software business to a Japanese engineering firm for £7.3 million.
Australian-firm Oilex records pre-tax losses of $4.5m
Oilex has said it will continue to “review business opportunities” in high potential areas despite taking a financial hit due to the Covid-19 pandemic.