Exploration

Leading the new deals is the purchase of 25,000 STRYDE Nodes™ by first-time client, Ukrainian seismic acquisition firm, Georozvidka LLC.  The technology will be used for multiple 2D and 3D seismic surveys in Ukraine, supporting national and global energy security through the enablement of new oil and gas exploration projects.

The Philippines is developing other energy sources as its key Malampaya gas field — which supplies a fifth of the country’s power requirements — nears depletion. PXP Energy Corp.’s exploration work on Reed Bank, another potential source for gas, has been suspended “because of the geopolitical situation,” Sales said.

Chief Executive Officer Mario Mehren said, “in a difficult year for Wintershall Dea, our team delivered stable operational performance, and robust financial results despite macroeconomic headwinds.” The company produced 323,000 boed in 2023.

To date, all surveying activity has been completed, with demining activities complete on the Damara Fold Belt Prospect L, which is expected to be the company’s first drilling location with an expected spud date in June 2024.

Guyana will restrict oil-related activities to south of that unverified border to avoid inflaming the situation, the official, Natural Resources Minister Vickram Bharrat, said in an interview.

The solution connects Shell’s exploration teams to relevant seismic data. With rapid access, Shell can now focus on informed decision-making in the dynamic energy landscape.

Set to deliver first LNG cargo this quarter, the Republic of Congo is transforming its industry through gas-focused investments and new E&P programs.

During a meeting with Indonesian President Joko Widod, Eni CEO Claudio Descalzi disclosed plans following significant milestones in 2023, notably the discovery of 5 Tcf of natural gas with the Geng North-1 well in the North Ganal PSC, the acquisition of the Indonesia Deepwater Development assets from Chevron, and the further consolidation of Eni’s position in most of the key exploration and production blocks of the Kutei basin following the acquisition of Neptune Energy.

On Friday, Jan. 26, 2024, World Oil hosted its 56th annual Forecast Breakfast at the Norris Conference Center in Houston, Texas. In an event described as a “first look” at upcoming upstream oil and gas trends, approximately 340 professionals from across the sector gathered for an early-morning meal to hear projections, data and analysis on global E&P from industry experts.

In 2024, net production target is 700 MMboe to 720 MMboe, of which production from China and overseas accounts for approximately 69% and 31%, respectively. The net production target is 780 MMboe to 800 MMboe in 2025, and 810 MMboe to 830 MMboe in 2026.

In an exclusive interview with Energy Capital & Power, Maggy Shino, Petroleum Commissioner of Namibia’s Ministry of Mines and Energy, discusses the country’s efforts to fast-track development of breakthrough discoveries in the Orange basin.

Reservoir Xaminer service is designed to provide fast, high-quality, and customized data, even in the toughest conditions.

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.

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.

Now in its 97th year, the World Oil Forecast is one of the upstream oil and gas industry's most trusted sources of projections and data relating to global E&P activity. Utilizing data collected from proprietary surveys of governments and operators in the U.S. and worldwide, this definitive industry report includes projections for spending and activity, worldwide drilling and production, and an analysis of political factors impacting the U.S. and international oil and gas industry. Now, more than ever this information will help market leaders make decisions relating to their businesses.