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Drilling at the Prospect I location has been significantly derisked by the results of our first Damara Fold Belt well, Naingopo, which encountered reservoir in the Otavi carbonates, hydrocarbon shows and oil to surface. NSAI), an independent qualified reserves evaluator.
The initial results of the Fayoum 5 explorationwell located in North Alexandria, which is in the west of the Mediterranean, showed the presence of a gas-bearing layer, and electrical recordings are being made in the coming days.
The second appraisal well, 6507/5-12 S, was drilled about 22 kilometers (13.7 This is the third explorationwell in production license 891, awarded in the Awards in Predefined Areas (APA) in 2016, the Directorate said in its notice. million barrels of oil equivalent.
Image by Daniel S Ragnarsson via iStock OMV AG plans to launch a seismic survey in December to explore the potential of geothermal energy in the East Styrian basin in the greater Graz area. The Austrian state-backed energy company expects to drill an explorationwell in the second half of 2026.
The higher production was due to the recognition of three full months of production from Canada and positive explorationwell results in Ecuador, the company said in its most recent earnings release. Gran Tierra incurred a net loss of $19 million for the quarter, compared to a net loss of $34 million in the prior quarter.
“Compare that to the two to three years, if that, to execute this task in other established basins,” Meanwhile, DNO said it has maintained production from its flagship Tawke at about 80,000 boepd “with minimal new investment," while its Côte d’Ivoire gas assets steadily produce over 3,000 boepd net to the company.
Meanwhile, Enis offshore drilling campaign in Libyas Sirte Basin is set to be one of the most closely watched exploration programs in 2025, with four explorationwells in the pipeline. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.
trillion cubic feet of unrisked and 140 billion cubic feet of risked prospective naturalgas resources (1) , on a 100% working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell, & Associates, Inc. (“NSAI”), an independent qualified reserves evaluator.
In collaboration with the NOC, TotalEnergies has achieved a 20% increase in production at the Waha field; Repsol plans to drill nine new prospects in 2025; while Eni is planning four explorationwells in 2025. Algerias Sonatrach will increase hydrocarbon production by 2.5%
Brent Crude $78.03 +1.73% NaturalGas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Petronas Gets New Block offshore Suriname by Jov Onsat | Rigzone Staff | Thursday, June 19, 2025 | 7:53 AM EST The new acreage lies next to Petronas' Block 52, which contains the Fusaea, Roystonea and Sloanea discoveries.
million acres in Namibia in the highly prospective Damara Fold Belt and Rift Basin exploration plays. It complements ReconAfricas activities in Namibia and highlights the potential of the Damara Fold Belt and Rift Basin by adding 5.2 million acres in Angola to the existing 6.3 NSAI), an independent qualified reserves evaluator.
Strategic Production Outlook Equinor plans to: Drill ~250 explorationwells on the NCS by 2035 Continue expanding low-carbon solutions through CO storage projects like Northern Lights Phase 2, with injection capacity increasing from 1.5 billion in Q1 2024, impacted by lower realized oil and gas prices and adjusting items.
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