Exxon Mobil Corp, the world's biggest publicly traded oil company, plans to study the potential for natural gas discoveries below existing fields off the southeast coast of Australia after adding to resources there in the past two years.
A venture between Exxon and BHP Billiton Ltd found 8.5 billion cubic meters of gas in the Gippsland Basin last year, in addition to 20 billion in 2005, and drilling is continuing, Exxon's Esso Australia Resources Pty unit said yesterday in an e-mailed statement. Exxon hadn't previously released last year's figures.
The Exxon/BHP venture estimates it has more than 20 years of oil production remaining in the Gippsland Basin and more than 30 years of gas production. Continued production from the fields may conflict with a proposal to use depleted fields for the storage of carbon waste from power generation and industrial processes.
"As an indication of our confidence in the substantial gas resource remaining in the basin, we are planning to begin a comprehensive formation evaluation study to look into the untested deeper basin gas potential under our existing fields," Exxon Mobil Australia chairman Mark Nolan said in the statement.
The company can't provide further details on the study, said Rob Young, an Exxon spokesman in Melbourne. The reserves being added show that the fields may not be available for carbon disposal as early as some estimates of 2015, he said.
"We think Gippsland has strong potential for carbon capture and storage, but only when the fields are depleted," Young said.
Conflict with Taiwan could leave China with “massive economic disruption, catastrophic military losses, significant social unrest, and devastating sanctions,” a US think tank said in a report released on Monday. The German Marshall Fund released a report titled If China Attacks Taiwan: The Consequences for China of “Minor Conflict” and “Major War” Scenarios. The report details the “massive” economic, military, social and international costs to China in the event of a minor conflict or major war with Taiwan, estimating that the Chinese People’s Liberation Army (PLA) could sustain losses of more than half of its active-duty ground forces, including 100,000 troops. Understanding Chinese
The Ministry of Foreign Affairs (MOFA) yesterday said it is closely monitoring developments in Venezuela, and would continue to cooperate with democratic allies and work together for regional and global security, stability, and prosperity. The remarks came after the US on Saturday launched a series of airstrikes in Venezuela and kidnapped Venezuelan President Nicolas Maduro, who was later flown to New York along with his wife. The pair face US charges related to drug trafficking and alleged cooperation with gangs designated as terrorist organizations. Maduro has denied the allegations. The ministry said that it is closely monitoring the political and economic situation
UNRELENTING: China attempted cyberattacks on Taiwan’s critical infrastructure 2.63 million times per day last year, up from 1.23 million in 2023, the NSB said China’s cyberarmy has long engaged in cyberattacks against Taiwan’s critical infrastructure, employing diverse and evolving tactics, the National Security Bureau (NSB) said yesterday, adding that cyberattacks on critical energy infrastructure last year increased 10-fold compared with the previous year. The NSB yesterday released a report titled Analysis on China’s Cyber Threats to Taiwan’s Critical Infrastructure in 2025, outlining the number of cyberattacks, major tactics and hacker groups. Taiwan’s national intelligence community identified a large number of cybersecurity incidents last year, the bureau said in a statement. China’s cyberarmy last year launched an average of 2.63 million intrusion attempts per day targeting Taiwan’s critical
‘SLICING METHOD’: In the event of a blockade, the China Coast Guard would intercept Taiwanese ships while its navy would seek to deter foreign intervention China’s military drills around Taiwan this week signaled potential strategies to cut the nation off from energy supplies and foreign military assistance, a US think tank report said. The Chinese People’s Liberation Army (PLA) conducted what it called “Justice Mission 2025” exercises from Monday to Tuesday in five maritime zones and airspace around Taiwan, calling them a warning to “Taiwanese independence” forces. In a report released on Wednesday, the Institute for the Study of War said the exercises effectively simulated blocking shipping routes to major port cities, including Kaohsiung, Keelung and Hualien. Taiwan would be highly vulnerable under such a blockade, because it
RSS