Australia

Shell eyes completion of world’s largest FLNG

August 15, 2014 | Australia, Construction & Installation, LNG & LPG

Project slated to tap offshore Australian gas. Perth, Australia | – Royal Dutch Shell said Friday the largest piece of the turret for Shell’s Prelude Floating Liquefied Natural Gas (FLNG) facility, the largest floating liquefied natural gas facility in the world is on the way to a South Korean shipyard. Shell said the turret module, part of the mooring system, is on its way from Dubai to a shipyard in South Korea, where the entire FLNG is set for construction. The final product will eventually …

Shell to sell 19% stake in Australia’s Woodside for $5.7 billion

June 17, 2014 | Australia, LNG & LPG

Melbourne, Australia | – The Royal Dutch Shell Group launched a long-anticipated sale of most of its stake in Australia’s Woodside Petroleum Ltd on Tuesday, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia. The share disposal brings the Anglo-Dutch oil major closer to its goal of shedding $15 billion of assets as part of a drive to cut spending and streamline operations following a profit warning in late 2013. The selldown, which reduces Shell’s …

BP to close Australian Bulwer Island refinery

April 02, 2014 | Australia, Refining & Processing

Melbourne, Australia – BP Australasia has announced the imminent closure of its Bulwer Island refinery at Brisbane. The 96,850-b/d facility will close by mid-2015 with the loss of more than 350 jobs, slicing another piece from Australia’s diminishing local production of petrol, diesel, and other fuels. The company is investigating the option of turning the refinery into a fuel import terminal. BP Australasia Pres. Andrew Holmes said the decision was taken because the refinery could no longer compete with the growing number of ultralarge refineries …

Shell sells Australian downstream assets for US$2.2billion

February 19, 2014 | Australia, Mergers, Acquisitions & JVs

Sydney – European energy giant Royal Dutch Shell has disposed its downstream oil assets in Australia to Dutch-owned oil trader Vitol and the Abu Dhabi Investment Council for about $2.2billion. The sale, which included a refinery, import terminals and 900 service stations, was part of Shell’s global divestment program to sell $15billion of assets over the next two years under new CEO Ben Van Beurden, reported Reuters. Australia’s Macquarie Group and its partner Glencore Xstrata who were also in line to acquire the disposed assets …

Total ups Ichthys LNG stake to 30%

July 12, 2012 | Australia, Budget & Investment

French oil and gas major Total announced Thursday that it increased stake in the world-class Ichthys liquefied natural gas (LNG) project to 30 percent through the acquisition of a further 6-percent interest from its partner, the Japanese firm INPEX. In a statement, Total said that the acquisition will not have an impact on any of the LNG offtake agreements that have been arranged, with the entire annual production of LNG (8.4 million tons per annum) having already been sold for 15 years. Total has agreed to …

Technip wins $61m subsea contract for Balnaves field development

July 10, 2012 | Australia, Construction & Installation, Contracts

France’s Technip said Tuesday that it was awarded by Australia’s Apache Energy a subsea installation contract worth around $61 million (A$60 million) for the Balnaves oil field development, sited in the Carnarvon Basin, offshore North Western Australia, at a water depth of approximately 442 feet (135 meters). The contract covers the project management, design, engineering and installation oil 4.3 miles (seven kilometers) of flexible flowlines and risers and 1.9 miles (three kilometers) of umbilicals. It also includes the transportation and installation of the subsea equipment …

Technip wins services contract for Ichthys FPSO

June 22, 2012 | Australia, Contracts

France’s Technip said Friday that it has been awarded a contract, for an undisclosed amount, to provide services to the Ichthys floating production storage and offloading (FPSO) unit. The FPSO unit will be located in the Browse Basin, Western Australia, at a water depth of 820 feet (250 meters). The Browse Basin is sited 124 miles (200 kilometers) offshore West Australia. Under the agreement, Technip will provide engineering and procurement assistance for the topsides facilities of the 1.2 million barrels storage capacity FPSO to South …

Korea Gas to invest $3 billion in Australia LNG projects

June 18, 2012 | Australia, Budget & Investment

Korea Gas Corp. is eying shale-gas assets in the U.S. and expects to invest in a liquefied natural gas project there that will enable it to import at least another 3 million metric tons a year of LNG, a company executive said. The state-run gas developer and supplier, known as Kogas, “will actively seek opportunities to buy good [shale-gas] assets” and will open its first U.S.-based office in Houston, Texas, by next month, Park Young-sung, executive vice president of the Resources Business Division, told Dow …