Exploration news

Global oil firms are preparing to spend more than US$53 billion in Guyana’s coveted Stabroek Block during the coming decade, Rystad Energy research shows.

The discovery in the Sureste Basin may contain between 200 and 300 million bbl of oil in place.

Mudlogging and LWD logging results from the Primary targets in the Tumbes Formation indicated that the Marina-1 well encountered thin water bearing sands with no oil and only minor gas shows.

The reprocessing project marks the next phase of imaging over the mature, hydrocarbon producing areas of Main Pass and Viosca Knoll.

Neptune Energy has signed an operated exploration licence with the Egyptian General Petroleum Corporation (EGPC) for Egypt’s North West El Amal offshore concession.

The ultra-deepwater drillships Noble Bob Douglas, Noble Tom Madden and Noble Don Taylor, which are currently executing drilling assignments for ExxonMobil offshore Guyana, are included in the framework agreement, and other drilling rigs may be added to the agreement.

TGS has reported net segment revenues of US$232 million for 4Q19, a growth of 23% compared to US$188 million in 4Q18.

The government of South Africa has approved Africa Oil Corp's acquisition of a 20% participating interest in the Block 3B/4B Exploration Right from Azinam Ltd. by its wholly-owned subsidiary, Africa Oil SA Corp.

The results of the surveys in the Ceiba and Okume fields are due to become available in 4Q20.

The two companies are to acquire a series of large-scale, high-density, multi-client surveys in the Central Basin Platform (CBP) of the Permian Basin.