Australia’s Carnarvon Energy (ASX:CVN) reported that the recent Pavo-1 exploration well drilled offshore Australia proved up a “substantial volume of light oil in excellent quality reservoirs” and “significantly increases Carnarvon’s oil resources for potential development through the Dorado facilities.”
Only five blocks out of 18 blocks offered in East Timor’s second licensing round have been awarded. East Timor’s National Petroleum and Minerals Authority (ANPM) said that it has awarded three onshore blocks and two offshore blocks.
Shell and Deltic Energy will press ahead with drilling a major North Sea gas exploration target later this year.
Petronas has awarded Block SK427 off the coast of Sarawak to SK earthon, a subsidiary of South Korea’s SK Innovation, and Petroleum Sarawak Exploration & Production (PSEP) in an area where several discoveries were made last year. Petronas and SK will also collaborate on carbon capture and storage (CCS) opportunities.
Santos’ (ASX:STO) Apus-1 exploration well near the Dorado oilfield offshore Western Australia has failed to find commercial hydrocarbons, reported partner Carnarvon Energy (ASX:CVN).
ExxonMobil drilled a so-called dry hole off the coast of Brazil, a rare setback in the oil titan’s effort to expand its South American crude reserves.
Harbour Energy (LON:HBR) is on track to start high impact exploration drilling in its Andaman II PSC offshore Indonesia in the second quarter this year. The news adds to the excitement in Indonesia as other companies, including BP (LON:BP), look set to probe the archipelago’s deep waters, following recent fiscal and regulatory enhancements.
Malaysia's Petronas has signed production sharing contracts (PSCs) for five offshore exploration blocks, namely SB412, 2W, and X located off the coast of Sabah, and SK439/SK440 situated off the coast of Sarawak. Significantly, Shell has signed up for ultra-deepwater exploration acreage.
New North Sea licensing this year is part of the UK Government’s “ongoing” commitment to the sector, the energy minister has said.
Malaysia’s Petronas will explore the North Ketapang Block after winning the shallow-water acreage onshore and offshore East Java in Indonesia’s Petroleum Bid Round 2021.
BP (LON:BP) will carry out deepwater oil and gas exploration offshore Indonesia after winning the rights to the Agung I and Agung II blocks as part of the nation’s second bid round last year. The move offers a glimmer of hope for Indonesia’s struggling upstream sector that has seen big international firms, such as ConocoPhillips, exit recently.
Plucky explorer Timor Resources has encountered “hydrocarbon shows of significance” while drilling its second well onshore East Timor as the company considers an initial public offering (IPO) to raise more funds in its quest to unlock the nation’s petroleum potential. Significantly, there are no firm figures for the hydrocarbon shows yet, but plenty of hope.
Brunei plans to boost production of oil and gas following the discovery of 42 million barrels of oil equivalent last year, according to energy minister Mat Suny bin Mohd Hussein. Significantly, the country is banking on new finds to reverse an expected decline in upstream output.
Years have passed since the last exploration well was drilled in the Southern North Sea, and Deltic Energy is hoping to lead a fresh wave of activity.
The Shell Jaws well in the North Sea has proved unsuccessful, partner Capricorn Energy has announced.
Australia’s Santos (ASX:STO) will this week start drilling Pavo-1, a highly anticipated exploration well, near its high-quality Dorado field offshore Western Australia.
Upstream oil and gas exploration activities in the North Natuna Sea will continue despite persistent protests from China, Indonesia’s upstream oil and gas regulator SKK Migas said.
Malaysia’s Petronas is seeking investors for 14 exploration blocks, six clusters of discovered resource opportunities and one cluster of late life assets in its Malaysia Bid Round 2022 (MBR 2022). Significantly, Petronas is making vast amounts of data available to potential investors.
Westwood Global Energy reports that as of 24 January there were two exploration wells active in the UK.
Exploration activity is set to recover in Asia Pacific this year with exciting campaigns on the horizon driven by the region’s hunger for natural gas and a rising sense of urgency to prove up new resources, analysis from energy research firm Wood Mackenzie shows.
The industry drilled more wells in 2021 than 2020, IHS Markit has reported, with notable successes in high impact wells adding new resources.
Kuwait Foreign Petroleum Exploration Company (KUFPEC) has made its first operated offshore exploration discovery with its Anambas-2X well in the Anambas Block offshore Indonesia.
Carnarvon Energy (ASX:CVN) has today confirmed that the Buffalo-10 exploration well offshore East Timor is uncommercial.
BP and Rosneft were the only companies to deliver more than a billion net barrels of oil equivalent through exploration last year, according to new research.
Inpex is set to start an exploration drilling campaign offshore Japan as it seeks to prove up new oil and gas fields, which if commercialised will mark the nation’s first new offshore gas development in over three decades.