Australia

Renewables/Energy Transition

Senvion talks to investors on $1.2billion Australia project

29/06/2015

Senvion SE is discussing a proposed A$1.5 billion ($1.2 billion) wind farm in Australia with potential investors after parliament passed a new clean energy target. Senvion expects to start construction of the Ceres wind farm in the second half of 2016, the local unit of the German company wrote in an e-mail response to questions. The project will have 600 megawatts of capacity, making it the largest in the state of South Australia, its website shows.

Australasia

GE signs first deal after Australia passes clean-energy target

25/06/2015

General Electric Co. agreed to help develop a A$450 million ($348 million) wind farm in Australia, spurred by parliament’s approval of a new renewable energy target. GE will supply turbines to the 240-megawatt Ararat wind farm in the state of Victoria that’s being developed with partners including Renewable Energy Systems Ltd., according to a statement from the companies. The development is expected to become the nation’s third-largest wind farm.

Renewables/Energy Transition

Australian energy law paves way for $11billion in renewables projects

25/06/2015

Long-frustrated wind and solar developers in Australia can now get to work on more than A$14 billion ($11 billion) in projects after a new renewable energy target passed parliament. Acciona SA, the Spanish clean-energy company, will start talks with banks and retailers as it progresses with A$750 million in new wind farms. SunEdison Inc., the U.S. solar company, said it will look at developing large projects in Australia.

Australasia

AWE Limited reaches total depth at Waitsia well

09/06/2015

AWE Limited has reached total depth at the Waitsia-1 appraisal well in the Perth Basin, Western Australia. The company said the Holmwood Shale was intersected at 3,490metres and total depth was achieved 17metres into the Holmwood Shale. Wireline logs will be run over a number of intervals, including the Dongara and Kingia Sandstones.

Market info

WorleyParsons reduces headcount as it looks to make savings

04/05/2015

WorleyParsons Ltd., Australia’s largest oil services business, said second-half earnings will fall about 50 percent from the first half as it cuts 2,000 jobs and reduces work due to falling commodity prices. There will be about A$125 million ($98 million) in one-time costs to pay for redundancies and cancel rental contracts early, in particular in North America, the Sydney-based engineer said Monday in a statement. The forecast drop would result in net income of about A$52 million, about 62 percent below the A$137 million median of three analyst estimates for the period compiled.

Oil & Gas

AWE Limited spuds Irwin-1 well

01/04/2015

AWE Limited has spudded the Irwin-1 exploration well in Western Australia’s Perth Basin. The company is currently operating the Irwin-1 drilling program under an joint agency agreement with joint venture partner, Origin Energy Limited. The well is looking to test the gas potential to the east of the Senecio and Waitsia gas fields and is targeting the Dongara and Wagina tight sandstone formations, the Carynginia Shale and Irwin River Coal Measures.

Oil & Gas

Aberdeen firm completes Australian gas field survey

An Aberdeen firm set up by two entrepreneurs has completed a survey of its promising gas field in Australia. Warrego Energy,founded by Dennis Donald and Duncan MacNiven, expects to drill the West Erregulla field at the end of this year or in early 2016 following completion of the seismic survey. The company undertook significant preparatory work to ensure the site’s cultural and botanic heritage is preserved.

Other News

Drifting rig moved away from LNG plant

17/03/2015

A submersible drilling unit which drifted towards a liquefied natural gas (LNG) plant has been moved away from the infrastructure. Woodside Petroleum temporarily shut down its $15billion plan after the Atwood Osprey rig drifted near to its flowlines. The move was made after the rig, which had been drilling at Chevron's Wheatstone LNG project, was torn from its moorings in a cyclone.

Australasia

Woodside shuts down LNG plant

16/03/2015

Woodside Petroleum has been forced to shut down its $15billion Pluto liquefied natural gas (LNG) plant after a submersible drilling rig began to drift near to its flowlines. The Australian operator said the move was taken after the rig was torn from its moorings in a cyclone. The rig had been drilling at Chevron’s Wheatstone LNG project nearby.

Oil & Gas

Woodside Petroleum gets ACCC approval for Apache acquistion

05/03/2015

Woodside Petroleum’s proposed $3.75billion acquisition of Apache’s interest in three projects will not be opposed by the Australian Competition and Consumer Commission (ACCC). The company is looking to acquire interests in the Wheatstone, Balnaves and Kitimat Projects. The first and second project are located in the Northern Carnarvon Basin, offshore Western Australia, while the Kitimat Project is located in British Columbia, Canada.

Oil & Gas

OEG Offshore snaps up two Australian oilfield service companies

21/02/2015

Cabin specialist OEG Offshore has snapped up two oilfield services companies based in Perth, Australia, for a total of at least £1million. The two firms, Oilfield & Resource Rentals (ORR) and Offshore Cryogenic Services (OCS), are involved in the provision and inspection of transportable storage tanks and pumping services and have operations in Perth, Karratha, Broome and Darwin. They will retain their trading names as part of OEG group, whose headcount has now swelled to 170 employees operating in 25 countries.

Oil & Gas

Work on promising Australian gas reserves underway

19/02/2015

An Australian oil and gas company has announced the start of flow testing works on one of their latest wells in the west of the country. AWE Limited kicked off its programme for the work at the Senecio-3 well to assess the quality of the onshore Waitsia gas discovery, at the Perth Basin. Drilling operations at the well were completed in September 2014.

Oil & Gas

Australian LNG output cuts seen long-term amid gas shortage

17/02/2015

A shortage of coal-seam gas, needed to feed about $60 billion of export projects in eastern Australia, may prompt the developers to reduce shipments in the long term, according to Credit Suisse Group AG. The liquefied natural gas developments in Queensland state face a potential shortfall of 4,500 to 9,000 petajoules over two decades, or as much as 30% of the supplies needed, Sydney-based analysts Mark Samter and Martin Kronborg said today in an interview. While a deal to bring Arrow Energy Ltd.’s gas into the plants developed by companies including Santos Ltd. and BG Group Plc would fix the problem, getting it to the projects would be expensive, the analysts said.

Oil & Gas

Senex finalises Surat Basin asset swap

16/12/2014

Australian firm Senex Energy has completed the Surat Basin asset swap. The firm has exchanged its minority interests in the QGC operated eastern Surat Basin gas permits ATP 574 and PL 171 for a 100% interest in and operatorship of three QGC JV western Surat Basin permits.

Oil & Gas

Woodside Petroleum delays Browse FLNG schedule

16/12/2014

Woodside Petroleum has pushed back its schedule for the Browse FLNG (Floating Liquefied Natural Gas) project as it looks to take advantage of lower costs. The company said a revised schedule had been agreed. Woodside has already completed basis of design and key preparation work for the proposed development.

Australasia

Australia backs proposed gas link seen as ‘pipeline to nowhere’

12/12/2014

Australia is keen to develop a potential $1.1 billion natural gas project that’s been described as a “pipeline to nowhere.” APA Group, the nation’s largest gas pipeline owner, has signaled its interest in building the project linking the Northern Territory with east-coast markets. The federal government sees it as a way to ease a looming shortage.

Australasia

BG Group sells Australian pipeline for $5billion

10/12/2014

BG Group has agreed to sell its Australian pipeline business for $5billion to the APA Group. The subsidiary, QCLNG Pipeline, owns a 543 kilometre underground pipeline network which links BG group’s natural gas field in southern Queensland to a two-train export facility. It was constructed between 2011 and 2014 and has a value of $1.6billion.

Oil & Gas

Empire Oil and Gas strikes deal with Enerdrill

08/12/2014

Empire Oil and Gas has signed a Letter of Intent (LOI) with drilling contractor Enerdrill. The agreement is for the upcoming planned three-well programme at the onshore Perth Basin. The company said one of these is planned to be within Permit 389, which hosts Empire’s Red Gully Gas and Condensate project.

Oil & Gas

Rey Resources to snap up stake in Canning Basin

28/11/2014

Rey Resource has entered in to an agreement with Backreef Oil for a 50% stake in a licence in the Canning Basin of Western Australia. The deal, which would be worth $1.7million, is for a large exploration area in the Derby Block. A licence for the area was recently given to both Backreef Oil and to Oil Basins who each had a 50% stake.

Oil & Gas

Australian partners to invest $1.2billion in Persephone project

27/11/2014

The North West Shelf (NWS) operator Woodside Petroleum and its partners have approved the $1.2billion Persephone project. It is the third major gas development for the NWS project, which is off the north-west coast of Australia. The project will involve a two well, 7km subsea tieback from the Persephone field to the existing North Rankin complex.

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