According to Rystad Energy, oil and gas exploration is off to a flying start in 2019, with majors taking a bigger bite of the conventional resources discovered in the first quarter
Rystad Energy, known for its research in the energy industry worldwide, highlighted that Eni’s Kekra well for oil and gas reserves in Pakistani waters is among three highly prospective wells in the world.
On the prospective new discoveries of energy resources said that Kekra well in Pakistani waters has pre-drill prospective resource estimates of 1.5 billion barrels of oil or equivalent.
The push for substantial new discoveries shows no signs of slowing down, with another 35 high impact exploration wells expected to be drilled this year, both onshore and offshore.
Three such highly prospective wells are already underway in which one is of Pakistan’s Eni’s Kekra well and other two are the Shell-operated Peroba well, off Brazil, with pre-drill prospective resource estimates of 5.3 billion boe and the Total-operated Etzil well off Mexico, with pre-drill prospective resource estimates of 2.7 billion boe.
“If these wells prove successful, 2019’s interim discovered resources will be the largest since the downturn in 2014,” an expert said.
In the statement, Rystad said the push for substantial new discoveries in the energy sector shows no signs of slowing down, with another 35 “high impact” exploration wells expected to be drilled this year, both onshore and offshore.
Global discoveries of conventional resources in the first quarter reached a robust 3.2 billion barrels of oil equivalent. Most of the gains were recorded in February, posting 2.2 bbo of discovered resources.
Majors are leading the charge in exploration, reporting more than 2.4 bbo of oil equivalent of discovered resources. The six largest discoveries by the majors each exceed 150 mmbbl of oil equivalent, and the top three could even hold more than 300 mmbbl of oil equivalent apiece.
ExxonMobil was the most successful, with three significant offshore discoveries accounting for a whopping 38 per cent of total discovered volumes. European majors Total and Eni are also in the fold with successful offshore wells in South Africa, the UK, Angola and Egypt.
Meanwhile, Repsol’s operated Kali Berau Dalam gas find in Indonesia takes the prize for the largest onshore discovery of the quarter.