Thursday 4 August 2022

38 high-impact[1] exploration wells were drilled in the first half of 2022, similar to the same period in 2021 when 39 wells completed. The 38 wells resulted in 13 potentially commercial discoveries at a 34% commercial success rate, delivering ~6bnboe of discovered resource.

Eight of the wells tested frontier plays, with significant basin-opening discoveries at Venus and Graff in the Orange Basin offshore Namibia. Venus is the largest discovery in 2022 so far, with multi-bnboe potential in a Lower Cretaceous Aptian-Albian basin floor fan. There were, however, key frontier failures at Mlima in the Lamu Basin offshore Kenya and at Ulcinj offshore Montenegro.

Full story here.