Gorgon getting closer....
- Thread starter Ausprop
- Start date
WA is gonna HAMMER the next 25 years.
It's not beyond the realms of possibility for Australia to be the Saudi Arabia of the 21st century...
Amazing.
Amazing.
i know where i want my chips stacked.
As far as Chevron, ExxonMobil and Shell are concerned the Gorgon project will/is going ahead.
I work on an oil rig on the Gorgon project and have already completed a well for ExxonMobil which was a huge success. They could produce this well flat out for 35years and not have even 1 psi pressure drop
its worth squillions.
They are drilling now before infrastructure is built on Barrow Island. Probably 2-3 years away.
Regards
Regrow
I work on an oil rig on the Gorgon project and have already completed a well for ExxonMobil which was a huge success. They could produce this well flat out for 35years and not have even 1 psi pressure drop
its worth squillions.They are drilling now before infrastructure is built on Barrow Island. Probably 2-3 years away.
Regards
Regrow
Chevron and co have gone awful quiet on it all though - if they were confident of a positive FID you would think they would be talking about it a bit more like they used to... ? Don't here a peep from them these days - don't want to increase expectations?
Nice to have the approvals lined up but it's still an awful lot of money to pull the trigger on - they could well sit on it for awhile until global conditions are right and/or the business case looks a bit stronger.
Still, they wouldn't have spent $2bn developing the project to this point without a reasonable expectation that it would go ahead...
Small beer compared to the bigger investment decision though! Would love to be a fly on the wall in those boardrooms...
Nice to have the approvals lined up but it's still an awful lot of money to pull the trigger on - they could well sit on it for awhile until global conditions are right and/or the business case looks a bit stronger.
Still, they wouldn't have spent $2bn developing the project to this point without a reasonable expectation that it would go ahead...
Small beer compared to the bigger investment decision though! Would love to be a fly on the wall in those boardrooms...
i'd just like to see a balance sheet with more than 9 zeros!!!!
Darwin is a much smaller place. Perth is a worldwide centre for engineering design/management. More so mining & metals than oil & gas. There will likely be thousands of engineering related people in Perth on iron ore, nickel, gold, etc work in coming years on essentially committed work. I don't know if the oil & gas work would guarantee/indicate the same level of employment in Perth.
Or another line. Maybe warranting a new thread of its own? Where would be the best place/s to buy/invest in residential properties in the north-west of WA or in the Northern Territory for a good long term return?
Port Hedland has great returns at the moment, but AFAIK seems tied to BHP's investment in the town. That might be under some cloud going forwards with the plan for BHP & RIO to jointly develop assets? As in, there might be more interest in Karratha? Would there be more sustained long term housing demand in Karratha? Or would Darwin, which is well located close to Indonesia be better? Or Geraldton? Or somewhere else?
I'll copy from the above into a new thread and come back and post a link.
Link to new thread http://www.somersoft.com/forums/showthread.php?p=571813
Or another line. Maybe warranting a new thread of its own? Where would be the best place/s to buy/invest in residential properties in the north-west of WA or in the Northern Territory for a good long term return?
Port Hedland has great returns at the moment, but AFAIK seems tied to BHP's investment in the town. That might be under some cloud going forwards with the plan for BHP & RIO to jointly develop assets? As in, there might be more interest in Karratha? Would there be more sustained long term housing demand in Karratha? Or would Darwin, which is well located close to Indonesia be better? Or Geraldton? Or somewhere else?
I'll copy from the above into a new thread and come back and post a link.
Link to new thread http://www.somersoft.com/forums/showthread.php?p=571813
I work on an oil rig on the Gorgon project and have already completed a well for ExxonMobil which was a huge success. They could produce this well flat out for 35years and not have even 1 psi pressure drop
They are drilling now before infrastructure is built on Barrow Island. Probably 2-3 years away.
Hi regrow. I remember working for WAPET back in 98 and 99 - before Chevron bought them out, with great big posters plastered all over the walls screaming out "Gorgon development is coming - first production scheduled for late 2001". I recall a chap named Peter Garrett was still singing for Midnight Oil at the time.
I too was out there drilling Gorgon gas wells on the Stena Clyde. More gas than you can poke a stick at. Trouble is, it's chok-a-blok full of CO2 and H2S.....which sends the processing costs through the roof. Regrow, were you running chrome completion strings whilst out there to counteract the contaminants, or were you drilling exploration wells ??
That was over ten years ago now.....and not much has happened since. First production slated for 2014....yeah righto. I'll believe it when they load out their first LNG tanker and it's heading across the horizon.
I believe they have gone quiet cos they do not have all of the approvals lined up......and as with most Govt approvals, they are heavily laden with a raft of conditions, conditions that are going to cost them billions.
Peter Garrett has not approved it as yet. Fed Labour Govt over-rules the State Liberal Govt every time.
Having met the "turtle lady" a few years ago, she's the only one in the state with a PhD in Barrow Island turtles, and somehow, despite, in my mind at least, a massive conflict of interest, advises both the Gorgon partners and the Govt authorities. She knows every turtle that nests on the island by name, and has a whopping database that she guards with her life. She will not be satisfied unless and until her "babies" are looked after like a Victoria Beckham. I conservatively estimate that it will cost the partners at least $ 3 million per turtle by the time they put in place enough measures to satisfy her and the EPA conditions that the approvals all hinge upon.
....and that's just the turtles, without mentioning Barrow Island's perenti that Harry Butler has been passionate about for the past 45 years since WAPET started exploring on the A Class reserve.
The partners are so far from producing the LNG it ain't funny.
Don't hold your breathe too long Ausprop, and never place too much emphasis on what the 20 year old journo's from the West write up.
Yes chrome was used.
Chevron just took over rig, head back out on Friday so not sure whether exploration wells or not. Personally I try not to get involved with all the gossip at work, just do my job (Yep still a career rousty lol)and read SS when I knock off.
Although I am trying to obtain a Radio operators position as my big move from the decks. Already have my GMDSS a while back but just happy to stay employed at present until this financial stuff settles down.
Regards
Regrow
chrome hexavalient? as in, the sh*t that kills people slowly but surely? the stuff that Cemex released into the air in the US? the sh*t on Erin Brokovich?
please tell me it ain't so.
please tell me it ain't so.
Small world, you probably know my mate then. He worked with Tidewater Port Jackson on Stena Clyde back in 98-99, only I think they were drilling in Malaysia.
This Peter Garret ?
http://www.news.com.au/adelaidenow/story/0,,25781693-2682,00.html
Never met the lady but probably rode on the back of some of her radioactive turtles when I worked on the nearby Varanus Island back in the mid 80s.
Back then the main worry on that island was protecting workers from radiation so we had to wear film badges while there and they roped the "protected " mutton bird nesting area mainly to stop us breaking our legs walking in the dark after a few beers. And at that time AB was the main man so there was plenty of beer.
More like A class prohibited area. In the mid 50s before the Britz moved to Maralinga to blow up things they setup camp on Barrow Island to watch the mushroom clouds as they evaporated a few of the islands in the Montebello group. A class reserve indeed.
Bugger, my mate will be pissed off when I tell him he wasted his time completing the application form. He was looking forward to going to work there in January and took him half a day to to complete the dozen or so pages pages and chase up all the details they were asking in it.
funk John - where's optibuild?
when I worked on the nearby Varanus Island back in the mid 80s....at that time AB was the main man so there was plenty of beer.
Hi yorke,
We must know each other....
I spent four years on Varanus Island as a youngster doing vac work whilst putting myself thru Uni. I arrived just after Bond Petroleum went down the gurgler and Hadson Energy took over the place. They were still selling as much full strength beer as you could skoll for the first two years I was there, but scaled back to a max of a six pack of lite beer in the latter stages.
I fondly remember, as the ****e kicker at the bottom of the ladder being given the task of picking up 8 years of accumulated cigarette butts that had been tossed onto the lawn next to the foodhall and bar. What a pleasant job for a non-smoker. Managed to fill up 3/4 of a 44 gallon drum. The next day the smokers were flicking their butts at the lawn again.
One of the other tasks for the day was being the island's garbo. That took up 2.5 hours every morning before going down to the burn pit with the load in the tractor. Fighting off the hundreds of marauding seagulls was a big task. Getting in there swimming in amongst all of the cr@p to light it up at the base was particularly pleasant task.
They also had a tin crusher for all of the empty beer cans. using that whilst all of the stale beer from the previous night oozed out was also a highlight. Back in 1990 they were paying me 83K p.a. I reckoned I was the highest paid garbo in the world, and with ocean views as far as the eye could see, I wasn't complaining.
More like A class prohibited area. In the mid 50s before the Britz moved to Maralinga to blow up things they setup camp on Barrow Island to watch the mushroom clouds as they evaporated a few of the islands in the Montebello group. A class reserve indeed.
Indeed - managed to go for a walk around the Montebello group with all of the radioactive warning signs everywhere. A very nice present left for us from the Brits back in '56.
and closer....
http://www.thewest.com.au/default.aspx?MenuID=28&ContentID=161351
"Federal and State government welcomed a $25 billion contract signed yesterday between ExxonMobil and India’s Petronet LNG to sell 1.5 million tonnes of LNG from the Gorgon project annually over the next 20 years."
"Mr Ferguson said the $50 billion investment in the project would bring significant economic benefit to Australia, and will provide up to 6000 jobs during the peak construction and about $40 billion in government revenue.
Yesterday, Environment Minister Donna Faragher gave final environmental approval for the proposed Gorgon gas development on Barrow Island with stringent environmental conditions.
The Gorgon LNG project will become the largest single investment ever undertaken in Australia."
http://www.thewest.com.au/default.aspx?MenuID=28&ContentID=161351
"Federal and State government welcomed a $25 billion contract signed yesterday between ExxonMobil and India’s Petronet LNG to sell 1.5 million tonnes of LNG from the Gorgon project annually over the next 20 years."
"Mr Ferguson said the $50 billion investment in the project would bring significant economic benefit to Australia, and will provide up to 6000 jobs during the peak construction and about $40 billion in government revenue.
Yesterday, Environment Minister Donna Faragher gave final environmental approval for the proposed Gorgon gas development on Barrow Island with stringent environmental conditions.
The Gorgon LNG project will become the largest single investment ever undertaken in Australia."
giddyup - i wonder if my broker can swing a karratha property to help service some debt...?
