As we farewell the past year, we reflect on all the events that have taken place in the industry over 2021.
Not only has oil and gas been affected by the challenges of the COVID-19 pandemic, but the industry is also undergoing a period of significant change in the wake of the Glasgow Climate Change Conference. We’ve seen huge investment in new technology such as electrolysis and carbon capture and storage to support the transition to a lower carbon economy, and some major mergers and acquisitions have taken place. We revisit our most read news stories of Oil and Gas Today and PPO for 2021.
Oil and Gas Today: Top stories of 2021
3. Woodside, BHP Merger on the cards
In August, Woodside confirmed it had been in discussions with BHP about a potential merger involving BHP’s entire petroleum business. The company advised that it continuously reviews the composition of its asset portfolio and opportunities to create and deliver value for shareholders. Read more here.
2. Vic onshore gas exploration back in action
In July, the restart of Victoria’s onshore conventional gas industry officially commenced, which was set to deliver a boost for south-west Victoria and Gippsland in the coming years. The restart followed three years of detailed scientific investigations by the Victorian Gas Program. Read more here.
In August, Woodside finalised technical work to support execution readiness and completed an update of the capital expenditure requirements in the lead up to the targeted final investment decisions for the Scarborough development. The updated cost estimate was $US12 billion ($16.2 billion), comprising $US5.7 billion for the offshore component and $US6.3 billion for the onshore component. Read more here.
PPO: Top stories of 2021
3. NOV wins Barossa contract with BWO
In May, BW Offshore (BWO) awarded NOV a contract for the supply of a large submerged turret production system for Santos’ Barossa gas and condensate field offshore Northern Territory. The contract was allocated to APL, which is part of NOV’s completion and production solutions segment. Read more about it here.
2. BHP, Advent call for NSW drill tender
In July, BPH Energy investee Advent Energy issued a call for tender for the provision of drilling and project management services for its upcoming exploration well in New South Wales. The well was planned to be drilled in 125 m of water, 26 km offshore and 30 km from Newcastle. Read more here.
In July, Santos managing director and chief executive officer Kevin Gallagher said the company delivered a strong quarter of production, sales volumes and revenues, as the business benefited from stronger demand and higher prices. Outlined in its second quarterly report, Gallagher advised that its disciplined, low-cost operating model continues to drive strong performance. Read more here.
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