QatarEnergy acquires interests in Red Sea exploration blocks
QatarEnergy will hold a 17% working interest in Red Sea Blocks 3 and 4, operated by Shell.
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QatarEnergy will hold a 17% working interest in Red Sea Blocks 3 and 4, operated by Shell.
The survey will take place over the Roncador and Albacora Leste fields in 2Q22.
The contract is for drilling a well in the Oswig prospect in Block 30/5C of the Northern North Sea basin offshore Norway.
The company has set annual capital spending through 2027 at US$20 billion to US$25 billion.
In the company's upstream business, approximately US$8 billion is allocated to currently producing assets, including about US$3 billion for Permian Basin unconventional development and approximately US$1.5 billion for other shale and tight assets worldwide.
Petrogas will employ the harsh-environment jack-up rig Maersk Resilient to drill the appraisal well.
Drilling is scheduled to commence in March/April 2022 following the rig relocating from nearby activities on Australia's North West Shelf.
The Merlin-2 appraisal well is targeting 652 million barrels of oil in the highly prospective N18, N19 and N20 targets.
According to preliminary estimates, the initial oil in place at the discovery in Block 12 reaches 250 million barrels.
Start-up is expected in 2Q22, and the project will run for approximately 1 month.
The data collected from Licence P2428 will now be processed by ION Geophysical to pre-stack depth migration with the final results expected to be delivered in 2Q22.
Borr Drilling's Prospector-1 jack-up drilling rig has spudded the Q11-B appraisal well.