Oil and gas discoveries hit four-year high

Oil and gas companies discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates from Rystad Energy. There were 26 discoveries of more than 100 million boe last year, with offshore regions dominating the list of new oil and gas deposits. Guyana continued to be a success …
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Australia overtakes Qatar as top LNG exporter for 2019

With an estimated 77.514 million tonnes (Mt) of locally produced LNG in 2019, Australia edged out Qatar, which is expected to register an estimated 75Mt for the year. Australia’s 2019 total is more than double that of the United States, the world’s other fast-growing LNG producer. The Australian contribution came from across all three now …
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EnergyQuest reveals Beach as Australia’s leading oil producer

The recovery in national oil production gathered momentum in third quarter 2019 with a strong start to production at Woodside’s Greater Enfield project. National production jumped by 44.3 per cent from 9.0 MMbbl in third quarter 2018 to 13.0 MMbbl in third quarter 2019 – the fourth consecutive quarterly increase and the highest level since …
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Oil Search LNG production drops after equipment damage

Its September production dropped from 6.88 million barrels of oil in June to 6.81 million barrels despite strong production rates in July. The marginally lower quarter was a result of reduced rates of liquids, following the detection of damage to one of the mooring chains at the Oil Search-operated offshore liquids loading facility in the Gulf …
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Queensland reaches record CSG production

The new mark included record production of Queensland coal seam gas, which was up by 6.8 per cent or 23.7 petajoules quarter-on-quarter, to a record 377.2 petajoules for the third quarter, according to EnergyQuest. The period also saw the largest surplus supply of gas since liquefied natural gas (LNG) exports began in 2015. Coal seam …
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Dorado Project

Carnarvon increases Dorado confidence after Santos release

The Dorado oil, gas and condensate field was discovered in 2018 and appraised this year. Dorado is in the late stages of the concept select phase for the liquid’s development, with a view to commencing the front-end engineering and design (FEED) phase in early 2020. During the FEED process, the final development and contracting strategy …
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Public comment opens for gas standard

Earlier this week, the project committee – AG-010 Natural Gas Quality Specifications – released the final draft of AS 4564 (General Purpose Natural Gas). /wp:paragraph –> The public comment period is open until 23 January 2020 and must be submitted via the Standards Australia website to be considered. Click here to download the draft and …
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National Hydrogen Strategy released

In development for nearly 12 months, the strategy was developed by COAG’s Hydrogen Working Group, chaired by Australia’s Chief Scientist Dr Alan Finkel, and provides a plan for Australian governments and industry to grow the country’s hydrogen sector and turn the resource into a major energy export by 2030. The strategy was created through analysis …
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Report: Norway could make more from Bight

According to research from The Australia Institute, through its sovereign wealth fund’s part ownership of would-be Bight driller Equinor, the Norwegian Government would receive estimated profits of $8.1 billion if the project is approved and developed. The estimates, which are based on the best-case scenario of the prospective drilling and use economic modelling from ACIL …
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Report: CSG to decline 60%

Research produced by Rystad Energy indicates that, based on the remaining proved and probable (2P) reserves and well numbers, production could drop significantly over the next decade, with new projects and exploration expected to offset only 30 per cent of this. Rystad’s forecast also assumed there would be no additional 2P reserve write downs, an …
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