Wissam Chbat, Wael Khatib and Jad Abi Khalil; Lebanese Petroleum Administration
Following the drilling of the first ever exploration well in the Lebanese offshore, in 2020, Lebanon's hydrocarbon marathon begins. This article takes a closer look at the hydrocarbon system and future potential.
The upstream part of the oil and gas industry has been particularly disrupted with the global impact of the pandemic massively reducing the demand for oil and gas during 2020 - resulting in an almost unprecedented collapse in exploration activities globally.
So far, the increase in oil price has not brought back the level of confidence to M&A activity that was expected, which is very apparent when looking at exploration opportunities in the Asia-Pacific region.
Mexico’s Tampico-Misantla Basin is potentially one of the richest unconventional oil and gas resources in the world. The development of these resources could significantly increase Mexico’s daily production of oil and gas, and bring in enough income to rejuvenate the national oil company, PEMEX, and help get the economy back on its feet.
Is it that complex? While aspects of the geological evolution may still be complex, the distribution of phase (oil vs gas) is not and can be accounted for by the expected physical behaviour of petroleum in the subsurface. We discuss maturity, phase and the 'critical moment' in more detail in this article.
In mid-April this year, Angola’s National Oil, Gas and Biofuels Agency (ANPG) started a virtual and physical roadshow for its 2020/21 bid round. The acreage on offer comprises a total of nine onshore blocks.
PTTEP announced in May its offshore Sirung-1 exploration well as an oil and gas discovery, intersecting a column of more than 100m in Miocene clastic reservoirs, in the shallow waters off the coast of Sarawak.
With drilling, coring and logging operations now complete on ReconAfrica's PEL 73 6-2 well, clear evidence of a working conventional petroleum system has been shown in the Kavango Basin, onshore Namibia.