Middle East

High-impact exploration rebounds

38 High Impact Exploration wells were drilled in the first half of 2022, as were 39 wells completed during the same period in 2021, according to industry analyst Westwood Global Energy Group. The 38 wells yielded 13 potential commercial discoveries with a commercial success rate of 34%, providing ~6bnboe of discovered resources.

Westwood Global considers high impact as well as targeting more than 100mmboe (mid-case, collectible) prospects or frontier playtests.

Frontier plays were identified in eight of the 38 high-impact wells tested, and significant basin openings were discovered at Venus and Graf in the Orange Basin off the coast of Namibia.

total energies Venus The deep-sea discovery off Namibia is the largest discovery so far in 2022, with multiple bnboe possibilities in the Lower Cretaceous Aptian-Albian Basin floor fans. But there have been major frontier failures at Murima in the Lamu Basin off Kenya and Ulcinj off Montenegro.

The new play, tested in 18 wells in the first half of 2022, resulted in 9 commercial discoveries and a 50% commercial success rate. Off the coast of Suriname and Guyana in the Upper Cretaceous he completed eight wells with six successes. Other new play discoveries were the Levant (Athena), Perth (S Erregulla) and Orange (La Rona) basins. Major emerging play failures include Cutthroat in the Sergipe-Alagoas Basin, which attempted to extend the Barra Upper Cretaceous play, and Apus in the Roebuck Basin, off Australia, which failed to extend the Dorado play.

With only one potentially commercial discovery from 12 wells drilled at Huron in the US Gulf of Mexico, high-impact exploration in mid/mature play has disappointed. There have been multiple failures that have attempted to extend his pre-salt play in Brazil, as well as further disappointments with his SWAP license in Azerbaijan’s shallows.

80 to 90 high impact wells are expected to be drilled by the end of 2022, the highest number since 2019 when 98 high impact wells were completed.

South America continues to be an exploration hotspot, with more wells planned in the Suriname-Guyana Basin and off Brazil. Africa is set to resume high-impact exploration in 2022, with major wells planned for South Africa, Mozambique and Zimbabwe after a success in Namibia earlier this year. Activity levels in Asia-Pacific and Northwest Europe have remained relatively stable, but in 2022, high-impact exploration will resume in the deep waters of the Eastern Mediterranean after 2021, when no wells were drilled.

Westwood highlights the 13 planned wells for the remainder of 2022 as “significant wells to watch”. These include a number of frontier playtests such as Lyre off Mozambique and Pensacola off the UK coast. Expansions to proven plays such as Zanderizi off the coast of Suriname and Hoodoo in the US Gulf of Mexico. And there is great potential with proven plays such as Wei off Guyana.

High-impact drilling performance in the first half of 2022 and key wells to watch in the second half of 2022 are reviewed in detail in a recently published report from Westwood. This report explains plays and prospects, along with key risks and success implications.

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https://www.oedigital.com/news/498499-high-impact-exploration-sees-rebound High-impact exploration rebounds

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