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Big gas discovery bodes well for Australia’s Perth basin

Australian junior Norwest Energy (ASX:NEW) recently announced a large gas discovery in the onshore Perth basin in Australia. The news bolsters recent analysis from consultancy Rystad Energy that suggests conditions are ripe for a significant development opportunity, with the basin potentially emerging as a key source of gas supply in Western Australia.

Oil & Gas

Apache discoveries a “morale boost” for the North Sea

Apache’s further oil discoveries in the North Sea are a real “morale boost” for the sector, according to the chief executive of Oil & Gas UK. Deirdre Michie spoke to Energy Voice on the back of last month’s announcement of up to 70million barrels of recoverable oil in the North Sea. US-based Apache Corporation announced finds on two exploration wells in the Beryl area and a “large” discovery at its Seagull prospect about 50 miles south of its huge Forties Field.

Oil & Gas

AWE Limited in further tests on the Waitsia-1 well in Australia

AWE Limited has commenced flow testing of the second zone in the Waitsia-1 well in Western Australia. The company said it will help further appraise the conventional Waitsia gas discovery in the onshore Perth Basin. The testing program is designed to determine well deliverability from two conventional reservoir zones and to collect gas samples for compositional analysis.

Oil & Gas

Lundin hits gas offshore Malaysia

Lundin Petroleum has made a small gas discovery offshore Malaysia. The company said its subsidiary, Lundin Malaysia, made the find from the Mengkuang-1 exploration well in license PM307. The well had been targeting hydrocarbons in Miocene-aged sands 75km to the northwest of the Bertam field operated by Lundin Malaysia.

Oil & Gas

Centrica Energy opts for Ula tieback for Butch discovery

Centrica Energy Norway and its partners will develop the Butch discovery in the North Sea as a subsea tie-in to the Ula field. Several options had been evaluated for the field which was discovered four years ago in the Norwegian part of the North Sea. Two options – a tie-in or standalone production jack-up solution – were assessed for the site which has estimated recoverable reserves of between 27million and 51 million barrels of oil equivalent.