Page 27: of Offshore Engineer Magazine (Nov/Dec 2023)

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MARKETS GLOBAL EXPLORATION OUTLOOK

Te well count through 2024 will grow as companies fnalise budgets and solidify exploration plans lobal exploration drilling is set for a boost (Foz de Amazonas), a potential play opener in the coun- in 2024 – we have line of sight on over 200 try’s Equatorial Margin. And it’s not all about the Brazilian wells targeting over 30 bnboe of resource (un- NOC, other operators are preparing to drill – PETRO- risked). Several gas hotspots are on the indus- NAS and bp will be drilling the Mola-1 and Pau Brasil-1X

G try agenda, whilst the strong appetite for oil exploration wells respectively, both located in the pre-salt. While the in new and proven plays will continue on both sides of days of multi-billion fnds in the pre-salt are almost cer- the Atlantic. Much of the activity is underpinned by in- tainly over, the play still has material running room.

creased drilling in MENA, Sub-Saharan Africa and Asia On the other side of the Atlantic, the world-class status

Pacifc. Drilling in North America, South America and of the Orange Basin in Namibia will be better defned

Europe looks set to remain stable. in 2024 as other companies get involved following the success achieved by TotalEnergies and Shell – wells are planned by Galp (PEL 83-2X), Chevron (PEL 90-1X)

Exploration Drilling Forecast by Region

Despite some cost pressures, and a growing energy and Woodside (PEL 87-1X). The recent hiatus in ultra transition agenda which is seeing some companies shift deep-water exploration in Congo-Brazzaville and Sene- focus away from hydrocarbons, the appetite for both oil gal/Guinea Bissau is set to be broken, with wells planned by TotalEnergies (Niamou) and CNOOC (Pangolin).

and gas exploration persists.

Near feld, infrastructure-led exploration (ILX) drilling is the focus in Europe and the US Gulf of Mexico. How-

Hunting for Oil across the Atlantic Basin

In Brazil, we’re closely watching Petrobras’ Morpho-1 ever, some wells such as Equinor’s Rondeslottet and Aker november/december 2023 OFFSHORE ENGINEER 27