Beach Energy’s Halladale Black Watch and Speculant project, a program to develop additional offshore natural gas reservoirs in Victoria’s Otway Basin has successfully powered its way through 7km of land and subsea earth structures.
The company has used technology developed by Australian oil and gas engineering company, Quality Energy (QE), to secure the achievement.
In 2018, Beach sought QE’s power factor correction (PFC) technology due to operational inefficiencies that its rig was experiencing.
Beach had identified that the Black Watch drilling program required more power than the rig was able to produce before QE’s intervention.
The company has since saved more than $2 million in operational costs after investing more than $500,000 in QE’s custom energy efficiency system, as well as eliminating $1 million for a new generator set.
In addition, Beach also reduced its need for diesel by 3.5 per cent, reduced carbon emissions by up to 2814kg per day, and lowered maintenance and downtime costs of up to 20 per cent.
QE managing director Luke Stratford said the relationship between QE and Beach was reinforcement of its technology developed to deliver greater generational efficiencies for the oil and gas industry.
“Our involvement in the oil and gas industry allows Quality Energy to showcase its technology globally and deliver on a broad range of projects for the sector where savings and efficiencies are paramount,” Stratford said.
QE is an Australian oil and gas technology company that has been working with major oil and gas producers globally to deliver greater efficiencies for over 15 years.
The technology company is currently working with several Asian offshore drilling rigs directly through local operators in the South China Sea, helping to improve efficiency and power quality outcomes.