Australia

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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