Timor Gap and Timor-Leste JV Gas Project Majority owned by Santos
Santos, the majority joint venture owner in Timor-Leste, announced on Monday that Timor Gap, a state-owned Timor-Leste oil company has acquired a 16 percent interest in Bayu-Undan's gas project. Timor Gap is now a member of the Bayu-Undan JV which includes SK E&S, INPEX, Eni, and Tokyo Timor Sea Resources. The joint venture partners manage jointly the Bayu-Undan Upstream Gas Project, which includes an offshore oil field and offshore production facilities and processing in Timor-Leste. After the inclusion of Timor Gap, Australian oil and natural gas giant Santos has a 36.5% stake.
Xodus Hires Rivers
Energy consultancy Xodus Group said it has appointed Stephen Rivers as Subsea & Pipelines Manager for Asia-Pacific as the company targets strategic growth and new projects in the region. He will be based in in Perth, Australia.Rivers’ previous roles have included Engineering Director for Peritus International Pty Ltd and Senior Vice President for INTECSEA for Australia and New Zealand.With more than 30 years' in the oil and gas industry, Rivers commenced his career in subsea…
E.Timor, Australia to Ratify Maritime, Gas Deal This Year
East Timor and Australia are set to ratify a maritime border treaty, which regulates how the two countries will share revenue from the offshore Greater Sunrise natural gas field, later this year, East Timor's foreign minister said.Dionisio Babo Soares told Reuters on Tuesday the ratification could take place on Aug. 30, the anniversary of a referendum that gave the small Pacific nation, one of the world's poorest, its long-awaited independence in 1999.Signed in March 2018…
PTTEP Makes Gas Discovery in Off Australia
Thai oil and gas company PTT Exploration and Production Public Company Limited (PTTEP) has made a gas and condensate discovery at the Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia.Phongsthorn Thavisin, President and Chief Executive Officer of PTTEP disclosed that PTTEP Australasia (Ashmore Cartier) (PTTEP AAA), a wholly owned subsidiary of PTTEP had made a successful discovery of gas and condensate at the Orchid-1, said a statement from the company.Commenced in January this year…
Eni Buys out Shell's Stake in Evans Shoal Gas Field
Italy's Eni announces the purchase of a 32.5% stake in the Evans Shoal gas field in the Timor Sea, Australia. The field is located offshore in the NT/P48 exploration permit in the north Bonaparte Basin, around 300km northwest of Darwin, where there is an existing LNG plant precinct. The undeveloped Evans Shoal field, discovered in 1998, holds expected gas in place of up to 7 trillion cubic feet. In late October 2011, Eni reached an agreement with Australian based company Santos Ltd to purchase its 40% equity share.
DNV GL Wins Ichthys LNG project Contract
DNV GL has secured a contract to provide in-service verification and classification services to a range of facilities at the Ichthys LNG project in Australia. The contract marks INPEX’s commitment to continue working with DNV GL as it prepares to transition from the project execution phase to the operational phase of the mega project. DNV GL has provided vendor inspection, verification and offshore classification support to the USD 34 billion venture since 2012. This latest contract will see DNV GL continue its expert support to the project as it transitions into operation in 2017.
Talisman to Sell Stakes in Two Australian Offshore Fields
Talisman Energy Inc said on Wednesday it plans to sell its stakes in two oilfields in the Timor Sea off the coast of Australia as Canada's No.5 independent oil producer continues to restructure its global petroleum properties. The company is looking to sell its 40 percent stake in the Corallina and its one-third stake in the Laminaria fields, whose production averaged under 6,000 barrels per day last year, a small fraction of the 373,000 barrels of oil equivalent per day that Talisman averaged over 2013. The two oilfields are operated by Woodside Petroleum Ltd.
