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The winning bids commit the company to an exploratory work programme, including geological studies, seismic and wells over a three-year phase (Phase 1) on each of the exploration contracts.
The Senegal North Ultra-Deep Offshore (SN-UDO-19) 3D survey will covers over 5100 km2.
The one-month project for Shell will commence in 4Q19 and will cover an area of approximately 600 km2 in the western Black Sea.
The drill stem test flowed dry gas from the intra-Muda sands at a rate of 11.4 million ft3/d on a 181/64-in. (2.8 in.) choke, maintaining a wellhead tubing pressure of 225 psi.
Part of the company's 10-year plan includes a free cash flow of approximately US$50 billion based on a real WTI price of US$50/bbl and annual capital expenditures averaging less than US$7 billion over the decade.
Planned to start in early 2020, the survey has already received significant industry interest and is being prefunded in part by BP.
As much as 1.2 billion bbl of oil could be held within the deposit, with up to 35% recoverable according to Springfield Group.
The Stena Forth has been contracted to drill one well, being the Marina-1 exploration well, in Karoon’s 40% owned and operated Block Z-38 in the Tumbes Basin in Peru with drilling scheduled to commence early in 1Q20.
ION will deliver high-end time and depth imaging for ARGAS to facilitate exploration and production of the acquired area.
The exploration well in the Brulpadda prospects encountered 57 m of net gas condensate play in Lower Cretaceous reservoirs.
Since 2011, 47 exploration licences have been granted by Côte d'Ivoire including four blocks in water depths exceeding 3000 m.
It will be the first time in Abu Dhabi drone technology has been used to deploy seismic sensors in the search for new oil and gas resources.