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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.
Oman’s Minister of Energy and Minerals, Salim Nasser al Aufi, stated that the execution of the agreement represents a pivotal step in Omans efforts to enhance hydrocarbon exploration and development. Block 54, known as the Karawan Concession, spans an area of 5,632 sq km in Al Wusta Governorate that is underexplored.
A key advantage: many of these discoveries are located near existing infrastructure, allowing BP to tie back new wells quickly and cost-effectively. Looking ahead, BP plans to drill around 40 explorationwells over the next three years , underscoring its ambition to expand its upstream production base.
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