Page 35: of Offshore Engineer Magazine (Nov/Dec 2019)

Exploration Outlook

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Total will drill its first exploration well off

Lebanon. The partners will use Vantage Drilling’s

Tungsten Explorer to drill the well in Block 4.

Source: Vantage Drilling

While activity in South America should be robust – Mexi- ter in the US Gulf have had a series of successes that should co, Brazil and Guyana in particular – markets such as Nor- support the brown? eld tieback market for some time.” way could disappoint.” “We look at West Africa as a tieback market – particu- “Equinor will drill between 20-30 wells off Norway in larly Angola and Ghana – and will watch Eni’s activity at 2020 – a steep fall from approximately 40 prospects drilled the East and West Hubs closely,” Brown said.

in 2019,” Brown noted. Equinor will focus on the western part of the frontier market in 2020 as the Norwegian en-

HOTSPOTS ergy company and others exploring in the region will hope

Both analysts agree that South America, Africa and to discover recoverable reserves to support estimates that Australia will be key regions for exploration growth in the more than half of Norway’s yet-to-be-discovered reserves year ahead.

lie in the region, Brown said.

When asked where the hotspots for 2020 exploration

Globally, Brown predicts near-? eld exploration rather might be, Brown said, “Brazil is the obvious answer”, noting than frontier work will provide better returns. “Near-? eld that an increasingly diverse operator mix – including Equi- exploration has been a particular standout in mature mar- nor and Shell among those joining Petrobras in exploring kets. The range of independents working in mid-deepwa- the deepwater pre-salt – will be key to success in the region.

nOVEMBER/DECEMBER 2019 OFFSHORE ENGINEER 35

Offshore Engineer