To meet the global cumulative demand over the next 30 years, undeveloped and undiscovered resources totaling 313 billion barrels of oil need to be added to currently producing assets
Exploration
Posted inExploration
ADNOC awards $519 million contract expanding world’s largest 3D seismic survey
This contract increases the scope of the ongoing seismic mega survey to capture coastal areas, islands, and shallow water
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Abu Dhabi discovers new unconventional onshore oil resources
The SPC announced the discovery of 22 billion stock tank barrels’ worth of recoverable unconventional oil resources onshore
Posted inExploration
Global discovered oil and gas resources set to reach 10 billion boe in 2020
Rystad Energy writes that 73 discoveries were made as of October 2020, split evenly offshore and onshore
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Balanced, stable oil market a prerequisite for pandemic recovery: OPEC-Russia Energy Dialogue
The meeting highlighted the importance of the OPEC+ alliance, and the need to balance the market
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Tatweer Petroleum signs joint sudy agreement for Offshore Block 2 with Eni
The deal covers integrated interpretation and assessment of geological and geophysical data relevant to Offshore Block 2
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Eni makes gas discovery in Mediterranean Sea
The discovery was in the Great Nooros Area, Eni’s latest development in Egypt
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Saudi Aramco makes two new oil and gas discoveries
The two fields are in the north of country bordering Jordan
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Eni successfully tests Egypt’s Bashrush discovery in North El Hammad concession in Mediterranean Sea
The well has been opened to test potentiality of production, and it delivered up to 32 MMscfd of gas
Posted inExploration
Eni announces oil discovery and production in Egypt’s South West Meleiha Concession
Eni announces the discovery of new oil resources in the Western Desert of Egypt with a new exploration well in the South West Meleiha Concession. Production in the Concession started just one year ago and is now in excess of 12,000 bopd.