Exploration

The Hadrah-1 well was successfully drilled to a total depth of 1850 m in November 2021 and encountered gas within an approximately 200-m thick sequence of high-quality sandstone and carbonate reservoirs.

Preliminary calculations of the expected size indicate between 3.3 and 5.2 million standard cubic metres of recoverable oil equivalent, or around 21–33 million barrels of recoverable oil equivalent.

The Fangtooth and Lau Lau discoveries in the Stabroek block will add to previous recoverable resource estimate of 10 billion oil-equivalent barrels.

First gas is expected at Southwark in mid-2022 after the planned installation in 1Q22 of the 6 km Saturn Banks pipeline extension to the Southwark platform.

The 168 OCS block survey began in August 2021 and is expected to be completed during the first quarter of 2022.

Hunting PLC has announced an agreement to form a new 49:51% joint venture with Jindal SAW Ltd.

The company has selected the Exalo #202 rig for the upcoming drilling programme at the Cabora Bassa project.

A Ramform Titan-class vessel is scheduled to commence exploration in early February 2022.

QatarEnergy will hold a 17% working interest in Red Sea Blocks 3 and 4, operated by Shell.

The survey will take place over the Roncador and Albacora Leste fields in 2Q22.

The contract is for drilling a well in the Oswig prospect in Block 30/5C of the Northern North Sea basin offshore Norway.

The company has set annual capital spending through 2027 at US$20 billion to US$25 billion.

In the company's upstream business, approximately US$8 billion is allocated to currently producing assets, including about US$3 billion for Permian Basin unconventional development and approximately US$1.5 billion for other shale and tight assets worldwide.

Petrogas will employ the harsh-environment jack-up rig Maersk Resilient to drill the appraisal well.

Drilling is scheduled to commence in March/April 2022 following the rig relocating from nearby activities on Australia's North West Shelf.