Exploration

PETRONAS’ subsidiary, PETRONAS Suriname E&P B.V. (PETRONAS Suriname E&P), has made an oil discovery at the Roystonea-1 exploration well in Suriname’s Block 52.

A total of 48 development wells were drilled and 12 exploration and appraisal wells completed in 2022, according to the Wells Insight Report, published by the North Sea Transition Authority (NSTA) on 12 October.

The drilling of the Mayaya Centro-X1 IE well (stratigraphic investigation), located in the north of the department of La Paz, shows signs of a new oil basin in the northern sub-Andean region, says President of YPFB.

The company forecasts that even in scenarios of 1.9 – 2.5°C warming, with rapid growth in renewable energy sources, the current set of existing gas fields will not meet global demand, requiring rapid growth in unconventional gas supply.

The company has announced two awards from Vår Energi that expand its regional presence in the North Sea for exploration logging, well intervention technology and subsea production systems.

TGS has announced a northern extension to its previously announced Pontiac 3D Survey in the Midland Basin, Texas, US.

The well was drilled by the ‘Deepsea Stavanger’ drilling rig, about 25 km southwest of the Oseberg field in the North Sea and 150 km west of Bergen.

The machine learning models that have been developed can assist geologists and geophysicists in reconstructing missing well logs, making lithology predictions, calculating shale content, and mapping potential undiscovered reservoir areas.

Zion Oil and Gas has announced that the State of Israel has awarded Zion a new exploration license, named the Megiddo Valleys 434.

The company has agreed to sell its oil and gas assets in Canada to Peyto for US$468 million (approximately €433 million) as part of its ongoing portfolio management to focus activity on core regions.

The company has signed four memorandums of understanding (MOUs) with China Energy, SINOPEC, CNOOC and Citic Construction, China's main oil and energy groups.

Cheiron has announced a new oil discovery near the GNN oil field in the Gulf of Suez.

Deltic Energy has been informed by the licence operator Shell UK Ltd that site survey works associated with the Selene exploration well location have commenced.

Exploration spend (excluding appraisal) will recover from historic lows to average US$22 billion per annum in real terms over the next five years, according to a new report from Wood Mackenzie.

Abu Dhabi National Oil Company (ADNOC), the State Oil Company of Azerbaijan (SOCAR) and TotalEnergies have announced a strategic transaction that will see ADNOC acquire a 30% equity stake in the Absheron gas and condensate field in the Caspian Sea.