Pricing of long liquefied natural gas (LNG) contracts is facing an unpredictable moment due to the fluctuating oil price. With the rising supply and expansion of exports from Qatar, Australia and recently the US, the contractual terms are evolving with the diversification of LNG supplies. This gives buyers greater bargaining power when it comes to negotiating contracts in the plight of the volatility of oil prices. Sellers would require to look...Continue Reading

Exxon Mobil Corp. has made a final investment decision (FID) to develop the West Barracouta gas field in the Bass Strait offshore Australia. ExxonMobile has stated that the project located offshore the state of Victoria in VIC/l1 will help to bring new gas supplies to Australia’s domestic market. This is also a part of the company’s ongoing investment in the Gippsland Basin. “We continue to use advanced technology, along with...Continue Reading

The new Energy Transition Outlook report by industry body oil & gas UK argues that to maximise North Sea production by 2035, ensuring the security of supply during this transition period. It is mentioned that the political, economic, technological and social drivers that influence the UK energy mix and provides a roadmap showing how existing offshore technology can be used to deliver climate change ambitions according to a 20-page report....Continue Reading

The OSHA or the Occupational Safety and Health Administration of the United States has formulated several laws and regulations for ensuring a safe and healthy environment for workers. As per the OSHA Act, the responsibility for doing so lies with employers setting and implementing standards, providing training, outreach, education and assistance. There are pre-set OSHA standards to which all employers must comply. The most important OSHA standard is for employers...Continue Reading

A 3 year inspection, repair and maintenance project has started  in central and northern North SEA for an undisclosed oil and gas company done by Netherlands-based subsea services provider, N-Sea. It will utilise N-Sea vessels and project crews for both vessel based and daughter craft-based diving plus ROV operations as stated in the contract. The vessels that will take part in the work were not disclosed but N-Sea’s fleet comprises...Continue Reading