Exploration

TotalEnergies, in partnership with QatarEnergy and Petronas, have signed a production sharing contract for Block 64 with Staatsolie Maatschappij Suriname (Staatsolie), the State-owned oil company of Suriname.

Traders are more jittery than ever about the outcome of Chevron Corp.’s proposed $53-billion takeover of Hess Corp. as Venezuela threatens to seize mineral-rich regions in neighboring Guyana.

(WO) — Pakistan Petroleum Limited (PPL) has made a gas condensate discovery with its Jhim East X-1 exploration well on Block 2467-16 (Shah Bandar), located in Sujawal district in Pakistan’s Sindh province.

(WO) — Invictus Energy Ltd. has reported significant progress in the drilling of the Mukuyu-2 well at its 80% owned and operated Cabora Bassa project in Zimbabwe.

(WO) — Ukraine's state-owned Naftogaz’s subsidiary Ukrgasvydobuvannya has uncovered a highly promising gas deposit in the Carpathians, previously believed to be exhausted, the company announced on Nov. 20.

The African Energy Chamber, therefore, strongly calls for an end to the demonization of oil and gas, encouraging African and Caribbean nations to collaborate towards a common and fair energy agenda.

In today’s volatile environment, there is a pressing global need for secure, sustainable and affordable energy. Oil and gas exploration and production companies must optimize performance to remain profitable, while also reducing geological risks—especially for structurally and lithologically complex reservoirs. The future of the upstream industry lies in the adoption of innovative geoscience digitalization solutions to optimize operations. Machine learning applications for geoscience data have been in use for more than 25 years but have become critical in recent years due to the massive growth in the amount of petrotechnical data being acquired. As machine learning evolves and gains acceptance, it will play an increasingly visible role in analyzing surface and subsurface data. Join World Oil and AspenTech for this webinar to learn how to: • Improve digital representations of the subsurface, such as rock prediction volumes, using machine learning and AI • Leverage, QC and de-risk existing data from the subsurface, and display them in a comprehensive manner • Make faster, more educated business decisions at lower cost Register now to join the conversation and hear how you can leverage digital solutions to increase exploration success.

The legislation will ensure the orderly and sustainable development of petroleum resources, the increased participation of Black South Africans in the industry and integrated production and exploration rights, according to its preamble.

Exploration ≥ Drill, Pump, Sell

The leases are located on the eastern North Slope, with multiple prospects in the late Cretaceous Brookian and Schrader Bluff formations.

Hydrocarbon resources in the Remanso area are estimated at 0.7 Tcfg and 52 MMbbl of liquids.

Force Majeure, declared in 2014, was revoked following the completion by Eni of a Security Risk Assessment to assess the security conditions in the areas where the exploration program will be carried out. This study yielded positive results. 

A preliminary evaluation indicates potential recoverable resources of approximately 28 MMboe. After full development of the discovery, OMV expects its natural gas production in Austria to increase by 50%.

Winning

(WO) — Following the completion of testing, Parex Resources Inc. has announced the abandonment of its wholly-owned Chirimoya exploration well at VIM-431 in Colombia.

The aim is to advance the Vranino 1-11 exploration block in Bulgaria, which has coal bed methane natural gas exploration potential, as well as opportunities in Turkey.

Cumulatively, the discovered deposits hold over 30 MMboe of recoverable resources, equivalent to around three quarters of OMV Petrom’s 2022 production.

Ikon’s Time-Lapse Ji-Fi app offers complete 4D fluid tracking capabilities for production and injection scenarios and is applicable in most hydrocarbon production campaigns.

Colombia needs to consider the importance that oil and gas still have for the balance of payments and the fiscal accounts, Trade Minister German Umaña said.

STRYDE’s seismic sensor technology will be utilized on an upcoming 3D seismic survey conducted by Nigerian geoscience solutions provider, ATO Geophysical Limited, as part of an onshore oil and gas exploration project in the region.