TAXATION ASPECTS OF THE LIFE AND DEATH OF AN OIL AND GAS PROJECT

1992 ◽  
Vol 32 (1) ◽  
pp. 470
Author(s):  
Colin G. Thomas ◽  
Michael J. Minosora
Keyword(s):  
Oil And Gas ◽  
North West ◽  
Life And Death ◽  
The North ◽  
Recent Developments ◽  
Legislative Changes

The taxation consequences affecting the birth, life and death of an oilfield have recently undergone substantial legislative changes. The purpose of this paper is to inform readers of these recent developments, particularly as they affect petroleum projects on the North West Shelf and the Timor Gap, and to critically appraise the strengths and deficiencies of the legislative approach, and provide recommendations for improvement.

Petroleum Resource Rent Tax: an update on recent developments

2012 ◽  
Vol 52 (2) ◽  
pp. 654
Author(s):  
Ian Crisp
Keyword(s):  
Oil And Gas ◽  
Due Diligence ◽  
Resource Rent ◽  
North West ◽  
The Past ◽  
The North ◽  
Petroleum Resource ◽  
Recent Developments ◽  
Key Issues ◽  
Oil And Gas Companies

Although the Petroleum Resource Rent Tax (PRRT) has been operating for longer than 20 years, the past few years have seen a significant amount of activity on this front: The announcement by the Australian government, on 2 July 2010, to expand the existing PRRTto include onshore oil and gas projects, including coal seam gas projects and the North West Shelf Project. The release of three ATO draft taxation rulings in 2010 about the pre-conditions for the deductibility of project expenditure, excluded expenditure (including indirect administration expenses) and the treatment of expenditure paid under ’sub-contractor’ arrangements. The courts’ decisions about the treatment of contract payments and the application of the PRRT taxing point. This extended abstract explores these developments as they apply to existing and new PRRT taxpayers, and identify the key issues that oil and gas companies will need to be aware of as they continue or commence compliance with the PRRT. This extended abstract also explores the impacts of these developments on transaction structuring, due diligence, financial modelling and fiscal certainty in the broader context of asset portfolios.

Geothermal condition and outlook for oil and gas deposits in the north-west Black Sea shelf

2002 ◽  
Vol 8 (2-3) ◽  
pp. 206-208
Author(s):  
V.G. Osadchyi ◽  
◽  
O.A. Prykhod'ko ◽  
I.I. Hrytsyk ◽  
◽  
...  
Keyword(s):  
Black Sea ◽  
Oil And Gas ◽  
North West ◽  
The North ◽  
West Black Sea

Pioneering Li-ion batteries on an offshore platform

2018 ◽  
Vol 58 (2) ◽  
pp. 719
Author(s):  
Lourens Jacobs ◽  
Nancy Nguyen ◽  
Ryan Beccarelli
Keyword(s):  
Power Generation ◽  
Gas Turbine ◽  
Oil And Gas ◽  
Generation System ◽  
Spinning Reserve ◽  
Fuel Gas ◽  
North West ◽  
The North ◽  
Li Ion ◽  
Power Generation System

Woodside is an Australian oil and gas company and a leading global operator of offshore gas platforms and onshore LNG processing facilities. It is a public company listed on the Australian Securities Exchange headquartered in Perth, Western Australia. Woodside operates the Goodwyn A gas platform on behalf of the North West Shelf (NWS) Project. Woodside assessed Li-ion battery technology and considered the technology mature and ready to be utilised on offshore and onshore operating assets. Woodside operates dedicated islanded gas turbine power generation at each of its onshore and offshore facilities. It was concluded that a large battery energy storage solution (BESS) can deliver several advantages if connected to such an islanded power generation system. The most significant benefit materialises by using a BESS as backup (or spinning reserve) for the gas turbine generators (GTGs). Woodside decided to pioneer the Li-ion BESS technology in a first of its kind application on the NWS Project offshore Goodwyn A gas platform. The Goodwyn A BESS is designed for a 1 MW power and 1 MWh energy capacity, which is considered sufficient to provide the spinning reserve for the Goodwyn A platform. Currently, Goodwyn A operates four 3.2 MW GTGs to provide a typical load of 7–8 MW, with one GTG providing the N+1 spinning reserve. When the BESS is connected to the power generation system, Goodwyn A will operate three GTGs, with the BESS proving the backup in case one of the GTGs trip. The BESS will provide the full 1 MW for a minimum of 1 h, which will give the operators enough time to start the standby GTG or adjust the facility loads (load shedding). The result will be a decrease in overall fuel gas consumption (due to better efficiencies on the remaining GTGs in operation) and a related reduction in CO2 emissions. The project supports the overall objective of the North West Shelf Project to improve the energy intensity of its facilities by 5% by 2020. Woodside believes that developing capability and experience on the installation of BESSs, using Goodwyn A as an early adopter, will facilitate similar and larger installations on other Woodside operated offshore and onshore assets. This is one of the technologies Woodside believes will play an important role to ensure a lower carbon future globally.

Earthquake risk management for oil and gas infrastructure in the north west of Australia

2020 ◽  
Vol 60 (2) ◽  
pp. 588
Author(s):  
Meysam Banimahd ◽  
Steve Tyler ◽  
Matthew Kuo ◽  
Fiona Chow
Keyword(s):  
Risk Management ◽  
Emergency Response ◽  
Failure Modes ◽  
Oil And Gas ◽  
Significant Risk ◽  
Earthquake Risk ◽  
North West ◽  
The North ◽  
Management Procedures ◽  
Integrity Management

The July 2019 magnitude 6.6 earthquake 200 km offshore from Broome is a recent reminder of the significant risk that earthquakes pose to oil and gas infrastructure in Australia. Unlike tropical cyclones, there are no reliable methods for predicting the timing, location and magnitude of imminent earthquakes. Appropriate risk management is therefore required, together with the implementation of emergency response and integrity management procedures, to manage the potential impacts to health, safety, process safety, the environment and production. Given the concentration of oil and gas infrastructure in the north west of Australia, a collaborative approach is advantageous for earthquake risk management and emergency response measures. This paper shares Woodside’s earthquake risk and integrity management procedures with the aim of enabling appropriate quality and consistency throughout the industry. The paper reviews state-of-the-art international practice in earthquake risk management for critical infrastructure from design to operation. Applicable seismic design criteria, likely failure modes and performance requirements are also described. Woodside’s real-time earthquake alert and integrity management systems are presented. Recommendations are made on best practice for earthquake risk management in the region and areas for further collaboration and improvement within the industry.

Recent exploration results in the Lower Triassic, Bedout Sub-basin: Australia's next petroleum province?

2018 ◽  
Vol 58 (2) ◽  
pp. 871 ◽  
Author(s):  
Melissa Thompson ◽  
Fred Wehr ◽  
Jack Woodward ◽  
Jon Minken ◽  
Gino D'Orazio ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Lower Triassic ◽  
Effective Porosity ◽  
Petroleum System ◽  
Source Rocks ◽  
Commercial Development ◽  
North West ◽  
The North ◽  
Productive Potential ◽  
Detailed Interpretation

Commencing in 2014, Quadrant Energy and partners have undertaken an active exploration program in the Bedout Sub-basin with a 100% success rate, discovering four hydrocarbon accumulations with four wells. The primary exploration target in the basin, the Middle Triassic Lower Keraudren Formation, encompasses the reservoirs, source rocks and seals that have trapped hydrocarbons in a self-contained petroleum system. This petroleum system is older than the traditional plays on the North-West Shelf and before recent activity was very poorly understood and easily overlooked. Key reservoirs occur at burial depths of 3500–5500 m, deeper than many of the traditional plays on the North-West Shelf and exhibit variable reservoir quality. Oil and gas-condensate discovered in the first two wells, Phoenix South-1 and Roc-1, raised key questions on the preservation of effective porosity and productivity sufficient to support a commercial development. With the acquisition and detailed interpretation of 119 m of core over the Caley Member reservoir in Roc-2 and a successful drill stem test that was surface equipment constrained to 55 MMscf/d, the productive potential of this reservoir interval has been confirmed. The results of the exploration program to date, combined with acquisition of new 3D/2D seismic data, have enabled a deeper understanding of the potential of the Bedout Sub-basin. A detailed basin model has been developed and a large suite of prospects and leads are recognised across a family of hydrocarbon plays. Two key wells currently scheduled for 2018 (Phoenix South-3 and Dorado-1) will provide critical information about the scale of this opportunity.

Performance Assessment of a Repository for Intermediate-Level Radioactive Waste Using the Probabilistic System Assessment Program Mascot

1994 ◽  
Vol 353 ◽  
Author(s):  
J. E. Sinclair ◽  
P.J. Agg
Keyword(s):  
Performance Assessment ◽  
North West ◽  
The North ◽  
Deep Geological Disposal ◽  
Safety Case ◽  
Recent Developments ◽  
Radiological Safety ◽  
System Assessment ◽  
Intermediate Level Radioactive Waste ◽  
A Site

AbstractUK Nirex Ltd is planning the deep geological disposal of intermediate- and low-level radioactive wastes. A site close to Sellafield in Cumbria in the north-west of England has been selected for evaluation, and an extensive programme of site characterization is underway. In support of this programme of characterization, and in preparation for presentation of a post-closure radiological safety case, performance assessment using mathematical modelling has been carried out by the Disposal Safety Assessment Team at AEA Technology, on behalf of UK Nirex Ltd. This paper describes recent developments of the assessment models relating to the groundwater pathway for return of radionuclides to the environment.

VARIABILITY OF ORE MINERALIZATION IN THE NORTH-WEST-TRENDING EXTENSIONOF THE LUBIN–SIEROSZOWICE DEPOSIT

2017 ◽  
pp. 109-0 ◽  
Author(s):  
Sławomir OSZCZEPALSKI ◽  
Andrzej CHMIELEWSKI ◽  
Stanisław SPECZIK
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Core Material ◽  
Gas Industry ◽  
Sulphide Mineralization ◽  
North West ◽  
The North ◽  
Ore Mineralization ◽  
Exploration Drilling ◽  
Drill Holes

The Polish Geological Institute – NRI has conducted investigations of the Kupferschiefer series since 1957, when the giant sediment-hosted stratiform Cu-Ag ore deposit was discovered in the central part of the Fore-Sudetic Monocline. Until 1991, a number of drilling programs were completed by PGI-NRI and later research has been focusing mainly on cooperation with oil and gas industry and their core material. Over the last few years, thanks to systematic examination of the drill holes located in the north-western extension, many prospective areas have been recognized and delineated. These prospects are located between Lubin-Sieroszowice deposit and the eastern part of the Zielona Góra oxidized field. In the Kożuchów area, the lower part of Zechstein copper-bearing series contain only relict sulphide mineralization accompanied by iron oxides while reduced rocks with metal sulphides occur in the uppermost part of Zechstein Limestone or at the base of Lower Anhydrite. Grochowice area, where reduced facies prevail in copper-bearing series, is characterized by the predomination of rich Cu-Ag mineralization proximaly to oxidized area. The western part of studied area is dominated by Cu-S type sulphides (chalcocite, digenite, covellite) whereas the eastern part is represented by Cu-Fe-S type minerals (bornite, chalcopyrite) with high galena and sphalerite concentrations. The spatial variability of sulphide mineralization with respect to the oxidized rocks indicates that Bytom Odrzański deposit extends in the north-west direction, continuing in the form of a copper belt along the eastern border of the oxidized area. An extensive deep exploration drilling program is implemented to verify the resource potential within predicted copper belt.

scholarly journals Late Cretaceous basin development of the southern Danish Central Graben

1969 ◽  
Vol 20 ◽  
pp. 15-18
Author(s):  
Finn Jakobsen ◽  
Claus Andersen
Keyword(s):  
Late Cretaceous ◽  
Oil And Gas ◽  
Seismic Inversion ◽  
Gas Production ◽  
Structural Development ◽  
Oil Accumulation ◽  
Oil And Gas Production ◽  
North West ◽  
The North ◽  
Basin Development

The Danish oil and gas production mainly comes from fields with chalk reservoirs of Late Cretaceous (Maastrichtian) and early Paleocene (Danian) ages located in the southern part of the Danish Central Graben in the North Sea. The area is mature with respect to exploration with most chalk fields located in structural traps known since the 1970s. However, the discovery by Mærsk Oil and Gas A/S of the large nonstructurally and dynamically trapped oil accumulation of the Halfdan Field in 1999 north-west of the Dan Field (e.g. Albrechtsen et al. 2001) triggered renewed exploration interest. This led to acquisition of new high quality 3-D seismic data that considerably enhanced imaging of different depositional features within the Chalk Group. Parallel to the endeavours by the operator to locate additional non-structural traps in porous chalk, the Geological Survey of Denmark and Greenland took advantage of the new data to unravel basin development by combining 3-D seismic interpretation of a large number of seismic markers, well log correlations and 2-D seismic inversion for prediction of the distribution of porous intervals in the Chalk Group. Part of this study is presented by Abramovitz et al. (in press). In the present paper we focus on aspects of the general structural development during the Late Cretaceous as illustrated by semi-regional time-isochore maps. The Chalk Group has been divided into two seismically mappable units (a Cenomanian–Campanian lower Chalk Unit and a Maastrichtian–Danian upper Chalk Unit) separated by a distinct basin-wide unconformity.

WESTERN AUSTRALIA—A TECHNOLOGY BASE FOR THE OIL AND GAS INDUSTRY

2001 ◽  
Vol 41 (1) ◽  
pp. 777
Author(s):  
B.F Ronalds
Keyword(s):  
Oil And Gas ◽  
Local Environment ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
North West ◽  
The North ◽  
International Industry ◽  
Analytical Tools

Oil and gas production is characterised by a truly international industry, and yet a unique local environment. Solutions developed elsewhere cannot always be imported directly for Australian use. For this reason alone, a strong local technology base is of value to the Australian oil and gas industry. Other benefits include the ability to provide high quality education and training for people entering, and already in, the industry.A case study is described where the Western Australian technology base is facilitating solutions to a specific challenge faced on the North West Shelf (NWS); namely, that the criteria for reliable development and operation of its offshore infrastructure for oil and gas production are more severe than other petroleum provinces, requiring new analytical tools to be developed.

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