Australia’s Santos (ASX:STO) and US giant Chevron (NYSE:CVX) have committed to spending around A$200 million (US$136 million) to assess the geological potential for carbon capture and storage (CCS) projects offshore Australia after winning two greenhouse gas (GHG) acreage permits.
Japan’s Inpex (TYO:1605) and partner TotalEnergies (LON:TTE) have won a key greenhouse gas storage (GHG) permit offshore Australia that could help a plan to bury emissions from liquefied natural gas (LNG) export projects in northern Australia.
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).
Otto Energy has made a final payment of $7million to Great Bear Petroleum to earn entry into two area of the Alaskan North Slope acreage.
The company’s payment will see it take an 8% share and 10.8% working interest in the assets.
Otto said the decision to make the final investment follows extensive due diligence and field trips to the Alaskan North Slope by the company.
Tower Resources has signed a production sharing contract (PSC) on the shallow water Thali offshore Cameroon.
The company said the market downturn had provided an opportunity for the company to leverage “lower seismic and drilling costs”.
A signing ceremony took place at the offices of the Societe Nationale des Hydrocarbures in the country.