The Raven Field in the Nile Delta, discovered in 2004, has proved the window to a major new play in this prolific geological province and has de-risked a significant volume of Egypt’s yet-to-find hydrocarbons.
The giant Forties Field was discovered in 1970, only the second oil field to be found in the UK North Sea. Originally predicted to run dry by the early 1990, it has now produced 2.64 billion barrels – and is expected to continue for another 20 years.
Recent news of at least three dry wells and suspension of the Tupi extended well test illustrate some of the challenges facing the pre-salt play that Brazil's government has touted as having "no exploration risk." However, with the huge reserves already discovered, the frontier area remains a hot play.