bid war continues

APA extends deadline for bid

APA has extended its $10 billion to AusNet to acquire all of its shares, pending the outcome of its application to the Takeovers Panel. Late last week, APA appealed to the panel to scrap exclusivity arrangements between AusNet and rival bidder Brookfield or have AusNet insert a fiduciary out class to the exclusivity agreement.  The appeal …
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carbon capture, use and storage

More funding for CCUS

The Morrison Government has dedicated $250 million to a new program that will boost the development of commercial-scale carbon capture, usage and storage (CCUS) projects and hubs across Australia.  The government estimates that by partnering with the industry to accelerate projects, the program will create up to 1,500 jobs as well as unlocking economic benefits …
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TEK-Ocean will be using the Ocean Spirit vessel

TEK-Ocean secures Bass Strait

Tek-Ocean has announced it will provide additional services in the Bass Strait during November and December using the newly rectified TEK-Ocean Spirit.  TEK-Ocean is an integrated service offering to clients in the oil and gas, marine and renewable energy sectors. The company reported it had been awarded further work in addition to existing contracts with …
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PNG

Oil Search PNG LNG redetermination

Oil Search has reached a commercial agreement with its joint venture (JV) partners in the PNG LNG project regarding the determination of participating interests.  The redetermination process was initiated in December 2020 and has now concluded, and no more adjustments will be made to the participating interests in the PNG LNG project – the region’s …
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Hub to be developed in Northern Territory

NT hub to reduce emissions

Australian’s national science agency CSIRO, the Northern Territory Government, and industry and engineering companies have joined forces to develop a path towards rapid emissions reductions across the energy sector in Northern Australia.  CSIRO will lead the new consortium in the development of a business case to assess the viability of a large-scale carbon capture utilisation …
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Goldfields Water Supply Scheme pipeline

Water Corporation upgrades to historic pipeline

The Western Australian Government has opened the Goldfields Water Supply Scheme pipeline proposal for public consideration for the gradual removal and replacement of old sections of the pipeline over the next 50 years. The pipeline was completed in 1903 and was internationally regarded as the largest engineering undertaking of its time.  WA Waste Minister Dave …
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APA submits bid to AusNet

APA rivals Brookfield in AusNet bidwar

APA Group has ratcheted up tensions by releasing a second proposal in an attempt to rival competitor bidder Brookfield to acquire AusNet Services’ shares.  This news follows APA Group’s confirmation last week that it had put forward a proposal to AusNet to acquire all issued shares in the company.  In what it called its ‘superior proposal’, APA …
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contract extension

UGL locks in BP contract extension

CIMIC Group’s UGL has been awarded a contract extension to provide asset management and project-related services for BP. The multi-year contract, which includes engineering and maintenance services, was awarded by Australian Terminal Operations Management (ATOM), a joint venture between UGL and BP. The extension will generate revenue to UGL of $150 million, and include work …
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BPTT achieves milestone on Matapal gas project

BP Matapal gas project online

BP has achieved first gas from its Matapal project offshore Trinidad and Tobago. According to the company, the major milestone was achieved ahead of seven months ahead of schedule and under budget, despite the impact of COVID-19.  In its early stages, Matapal is expected to deliver 250-350 mmscfd into the Trinidad gas market from resources …
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Edify green hydrogen plant

Edify granted hydrogen development approval

Edify Energy has secured development approval to build and operate a green hydrogen production facility at Lansdown Eco-Industrial Precinct in Townsville, Queensland.  The approval for the plant was issued by Townsville City Council and covers up to 1 gigawatts (GW), as well as a behind-the-meter solar photovoltaic and battery storage facility within the precinct.  The …
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