Exploration

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Force Majeure, declared in 2014, was revoked following the completion by Eni of a Security Risk Assessment to assess the security conditions in the areas where the exploration program will be carried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

Fork in the road

After 60 years of E&P activity, the Cooper basin remains Australia’s largest onshore O&G province, supplying domestic gas markets in southeastern Australia and export markets via the Gladstone LNG plant. This strategic basin has potential for further discoveries, as well as opportunities to play a key role in Australia’s energy transition through CCS projects in depleted fields.

Chief Executive Officer Ricardo Roa told investors that he hoped more oil contracts and bidding rounds for exploration blocks would be forthcoming.

Natural gas remains a readily available, low-carbon feedstock, providing a 20% reduction in CO2 emissions vs. traditional liquid hydrocarbons. However, it’s critical to optimize operations across your assets’ lifecycle to offset threats of sustainability and energy security. Join World Oil and AspenTech experts as they discuss how innovative digital solutions support end-to-end gas exploration and production, enabling your teams to: • Efficiently delineate and find economical natural gas producing opportunities • Accelerate time to first gas • Lower the environmental footprint of development • Maximize asset utilization by optimizing production Register now to join the conversation! Learn how you can leverage digital solutions to meet the increased demand for natural gas.

In an exclusive interview with the African Energy Chamber, Foday B. L. Mansaray, Director General of Sierra Leone’s Petroleum Directorate, spoke on the country’s exploration agenda to develop its hydrocarbon-rich, ultra-deep basins