Western Australia has become the first Australian jurisdiction to join the World Bank's Zero Routine Flaring by 2030 initiative, aiming to efficiently manage natural gas resources and reduce greenhouse gas emissions. During oil production, gas can sometimes be produced from the reservoir together with the oil – the majority of this gas is utilised or conserved because governments and oil companies have made substantial investments to capture it. Some of this gas is flared because of technical, regulatory, or economic constraints, and as a result, thousands of gas flares at oil production sites around the... more

New analysis by global energy research and consultancy group, Wood Mackenzie, outlines that explorers’ success in 2018 reflects a disciplined approach which is expected to continue this year. Wood Mackenzie’s Vice President of Global Exploration, Dr Andrew Latham, explained that they are seeing a long-overdue recovery in the sector. “Last year conventional exploration returns hit 13 per cent - the highest calculated in more than a decade. As 2018’s discoveries are appraised and projects move through the development cycle, we expect these economics to improve further.” In 2018, exploration adde... more

New research has been released which indicates that Australia will account for all floating production, storage and offloading vessels (FPSOs) planned for deployment in Oceania during 2019 – 2025. GlobalData’s report, ‘Q1 2019 Global FPSO Industry Outlook – Australia Leads FPSO Deployments in Asia-Pacific’ states that across the globe there are 26 planned and 41 announced FPSOs expected to start operations between 2019 and 2025. In Oceania, all the five upcoming FPSOs (Barossa, Browse 1, Browse 2, Buffalo (Re-Development), and Crux) are announced FPSOs. Woodside Browse Ltd. leads among operato... more

Now, more than ever, oil and gas operators, suppliers, contractors and drilling companies must be aware of the need for a comprehensive set of standards that provide greater consistency of safe industry practices across the globe. The World Economic Forum reports that the lack of standardisation is not only responsible for major budget blowouts but also significant schedule delays with 75 per cent of large exploration and production projects between 2010 and 2014 exceeding their budget by 50 per cent on average and half of these projects exceeding their schedule by almost 40 per cent. According to Head of... more

Hays has released the January - June 2019 edition of the ‘Hotspots of skills in demand’ report, outlining which skills are on the radar for Australia’s prominent oil and gas sector. Across the sector, Hays sees renewed interest from employers in multi-skilled engineers and technicians. In previous years, the industry required experts in one particular niche area (such as instrument engineering or controls engineering). These days, however, the recruitment firm sees that employers are looking for candidates with a broader skillset who can wear multiple hats. Consequently, candidates with niche ski... more

New research from global consultancy group, DNV GL, has revealed that oil and gas companies’ resilience to volatile market conditions will be put to the test in 2019, as business leaders expect the industry to commit to greater investment to meet hydrocarbon demand. According to DNV GL’s ninth annual report on the outlook for the oil and gas industry, ‘A test of resilience’, two-thirds (67 per cent) of the 791 senior oil and gas professionals surveyed believe additional large and capital-intensive oil and gas projects will be approved this year. 70 per cent plan to increase or maintain capital expe... more

New research has identified that businesses are capable of reducing workplace substance abuse through the implementation of drug and alcohol first-aid programs. A study conducted by researchers at the National Centre for Education and Training on Addiction (NCETA) at Flinders University examined the experiences of over 100 managers and supervisors who undertook alcohol and other drug (AOD) training sessions. The results revealed that workplaces have the capacity to prevent, ameliorate or exacerbate AOD use. As illicit drug use continues to increase alongside a general decline in irresponsible drinking, ... more