New company Western Gas takes over huge coastal reserve from USA’s Hess
A potentially massive gas project off the northwest Australian coast has been acquired by a newly-formed company dedicated to the site’s development.
Western Gas has purchased the undeveloped Equus gas project from American firm Hess, at a time when warnings have been issued by Australia’s energy market watchdog about a possible shortage of supply in the coming years.
Western Gas Executive Director Andrew Leibovitch told The West Australian: “Equus provides a great opportunity for the timely development of Western Australia’s discovered gas reserves to meet the needs of local gas customers, particularly when the eastern states of Australia are experiencing a major energy crisis and exploration is in decline.”
Leibovitch claimed that the reserves at Equus were abundant enough to supply a quarter of WA for the next 20 years. It is estimated that the site contains some 2trn cubic metres of gas.
While the project looks set to sure up supply in the west, Australia’s energy shortfall in the east and south is a greater cause for concern, with key industry players meeting in Adelaide recently to discuss how renewable energy can help address what many are calling a crisis in waiting.
Back in WA, electricity supplier Synergy is set to enter a partnership with Dutch Infrastructure Fund to bankroll various large-scale projects.
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."