Oil and Gas News

Oil Search reshuffle to build company strength

Oil Search has completed a review of the company and its cost structure, positioning it to operate safely, cost efficiently and to progress its opportunities in Papua New Guinea (PNG).
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Prime Creative Media surveys business leaders across 15 industries on effects of COVID restrictions and prospects for recovery 

From May 28 to June 5 2020, Prime Creative Media surveyed more than 2200 business leaders across 15 industries, to capture sentiment as the country began to lift COVID-19 restrictions. The results paint a relatively positive picture of an industrial landscape experiencing its first recession in almost three decades. Just two-thirds of respondents reported a downturn in business, with almost 10% noting an increase in business. Almost half of all businesses said that they were still looking to invest, a strong sign about the future of Australian industrial sectors. Respondents were also generally supportive of the Federal Government’s response, with three quarters saying it was either strong or acceptable. Read More

Contract agreements for projects

Companies are continuing to get back on track with two contracts being awarded this week. The following contracts have been awarded, including the following: Easternwell: contract with Senex Energy
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Why owners need an AI-driven project risk analysis

From an owner’s perspective, risk analysis means trying to determine that the amount of capital expenditure allocated to a venture is appropriate, i.e. the most cost-sensitive variable in our project is time.
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