Santos cheers booking of CO2 storage capacity
Santos (ASX:STO) today announced a booking of 100 million tonnes of carbon dioxide (CO2) storage resource in the Cooper Basin in South Australia.
Santos (ASX:STO) today announced a booking of 100 million tonnes of carbon dioxide (CO2) storage resource in the Cooper Basin in South Australia.
Australia’s Santos (ASX:STO) will this week start drilling Pavo-1, a highly anticipated exploration well, near its high-quality Dorado field offshore Western Australia.
Shell’s giant Prelude floating liquefied natural gas (FLNG) vessel offshore northwest Australia is expected to be out of operation for most of Q1, chief executive Ben Van Beurden told reporters following the company’s quarterly results.
Samuel Terry Asset Management has set out a plan to buy Australian-listed FAR through a cash offer of A$0.45 ($0.31) per share.
The industry drilled more wells in 2021 than 2020, IHS Markit has reported, with notable successes in high impact wells adding new resources.
Australia’s Woodside (ASX:WPL) has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 joint venture to Global Infrastructure Partners (GIP).
Australia matched the country’s highest temperature on record, triggering a bushfire warning and temporarily shutting a liquefied natural gas (LNG) export plant on Friday.
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) reported that it has won a contract worth 656.1 billion KRW ($553.4 million) from Chevron to build an offshore facility for the Jansz-Io gas field development offshore Australia.
Saipem has won two new offshore contracts, in Australia and Guyana, worth $1.1 billion, on the Scarborough and Yellowtail projects respectively.
McDermott International has landed a contract for a major LNG scheme off the coast of West Australia.
Decommissioning is a problem every country will face as the world moves towards net zero and the Centre for Decommissioning Australia (CODA) is looking to take notes from Aberdeen.
Power problems on Shell’s Prelude floating liquefied natural gas (FLNG) vessel offshore Australia risked the “catastrophic failure” of parts of the ship’s structure, according to a report by the offshore regulator, reported WA Today.
Valaris has announced a clutch of contract awards, including decommissioning work with Centrica in the UK.
While 2021 has seen a surge in revenue from liquefied natural gas (LNG) sales, this has not been reflected in the share prices of the three Australian companies most leveraged to LNG revenue: Woodside (ASX:WPL), Santos (ASX:STO) and Origin Energy (ASX:ORG), EnergyQuest said in a note today.
Australian exports of liquefied natural gas (LNG) hit a record high in 2021 of 80.9 million tonnes, according to estimates based on shipping data from EnergyQuest. Significantly, it is likely that 2021 is close to the peak of Australian LNG production, added the Adelaide-based consultancy.
The Australian offshore regulator NOPSEMA has ordered Shell (LSE:RDSA) to stop production at its Prelude floating liquefied natural gas (FLNG) unit until the energy major can demonstrate the giant floater’s ability to recover power and services safely.
South Korea’s largest private gas provider SK E&S is facing legal action from a climate activist group alleging that it falsely advertised the green credentials of the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia.
The Valaris JU-107 jack-up drilling rig is mobilising to drill the highly anticipated Buffalo-10 well offshore East Timor that if successful could unlock more than 30 million barrels of oil. Operator Carnarvon Energy said yesterday that drilling will start within a week and is expected to take 35 days to complete.
Floating wind developer BlueFloat Energy and consultancy Estate Energy have announced joint plans for three wind projects offshore Australia.
Australia’s Woodside (ASX:WPL) is studying the technical and commercial feasibility of a liquid hydrogen supply chain from Western Australia to Singapore and potentially Japan.
Subsea Integration Alliance, comprising Subsea 7 and OneSubsea, will provide engineering, procurement, construction, and installation (EPCI) of subsea pipelines and production systems for Woodside’s Scarborough project offshore north West Australia after announcing the deal.
US-based Baker Hughes (NASDAQ:BKR) will supply Santos’ (ASX:STO) Moomba carbon capture and storage (CCS) project in Australia with turbo machinery equipment.
After two years of mediocre activity levels brought on by budget cuts and pandemic-related restrictions there will be an uptick in 2022 as operators work their way through the backlog in Asia Pacific.
Extraordinary global gas prices are benefitting Australian liquefied natural gas (LNG) exporters. At current spot prices Australian LNG producers can make even larger margins on spot sales than US exporters, with estimated margins of over US$30 per million British thermal units (MMBtu), due to shorter shipping distances to Asia, said Australian consultancy Energy Quest.
Australia, which is profiting from surging gas prices in Asia, remains the largest liquefied natural gas (LNG) supplier to North Asia. But its market position in the booming Chinese market is under threat, warned Australian consultancy Energy Quest.