Australia

Repair work on the Gorgon LNG plant’s propane heat exchangers is underway. Planned maintenance on the Gorgon Train 2 was expected to end in July.

Black Mountain executives outlined the key criteria they used to determine why Western Australia was a prime location for private-equity investment when looking at international unconventional plays.

Two of the biggest assets to suffer from the new valuation are in Australia. Shell’s QGC venture and its floating liquified natural gas facility, Prelude, have been reduced in value by up to $9 billion.

Potential suitors to acquire Chevron’s stake in the LNG project include co-owner and operator Woodside.

The controversial surveying technique has been used around Australia to look for oil and gas, but some environmentalists and scientists have warned the effects on marine life could be deadly.

A 3-year study of air quality, soils, groundwater, and waterways found few to no effects as a result of hydraulic fracturing operations in Surat Basin coal seam formations.

This contract is for the development of the Lambert Deep and Phase 3 offshore Northwest Australia.

The savings result in part from the depreciation of global currencies against the US dollar, as most operating expenses in oil and gas production are realized in local currencies. Brazil leads in savings.

The company announced both contract awards simultaneously. The new contract awards could be worth up to $800 million.

The Australian company upped its forecast of initial oil production out of the field from 50,000 B/D to somewhere between 75,000 and 100,000 B/D. It expects to spend between $1.9 billion and $2.2 billion on the field's development.