Australian company Timor Resources said it will drill three more exploration wells onshore East Timor after certifying 24.2 million barrels of oil and 1.3 billion cubic feet of gas reserves from its first two onshore wells.
Australian company Timor Resources has spudded the first onshore well in East Timor in more than 50 years as the Southeast Asian nation, also known as Timor Leste, hopes for an oil bonanza.
Australian junior Norwest Energy (ASX:NEW) recently announced a large gas discovery in the onshore Perth basin in Australia. The news bolsters recent analysis from consultancy Rystad Energy that suggests conditions are ripe for a significant development opportunity, with the basin potentially emerging as a key source of gas supply in Western Australia.
The government of Bangladesh has shortlisted eight potential global companies, including ExxonMobil and TotalEnergies, as well as various Japanese players, to build the South Asian nation’s first onshore liquefied natural gas (LNG) import terminal. Significantly, the proposed 7.5 million tonne per year (t/y) LNG processing facility would double Bangladesh’s import capacity.
The eastern Malaysian state of Sarawak, home to the country’s liquefied natural gas (LNG) export complex, has awarded its first onshore block to Petra Energy and Uzma, as it hopes to revitalise its onshore oil and gas industry after taking regulatory control from the federal government.
London-listed Reabold Resources said today that new drilling operations “further suggested” the West Newton field in east Yorkshire is the largest UK onshore oil and gas discovery since the 1970s.
Siemens world-renowned fire safety products, systems and solutions safeguard assets from fire risk. This teamed with Dron & Dickson’s UK wide distribution capabilities and electrical engineering expertise have created a powerhouse in Fire & Gas Engineering for hazardous and industrial areas, both on and offshore.
A leading oil economist has warned that global production cuts agreed to by the Opec cartel and 11 other countries including Russia may not be enough to overcome the rise of US shale.
Baker Hughes said it expects revenue from its onshore business in North America to increase in the first half of the year as customers ramp up drilling activity and pricing improves.
Croatia has signed contracts with a local firm and one Canadian company that had been awarded onshore oil and gas exploration blocks in the north and east of the country.
Doubling the share of renewables in the global energy mix by 2030 is feasible, but only with concerted action to jump-start their use in transport, building and industry.
Bioenergy is seen as being a critical component to achieving this objective. And if it is, then the sector could “sustain 24.4million jobs worldwide” just 15 years from now.