Far East deepwater exploration to see strong growth, bias to gas

In the next 20 years or more, oil and gas exploration in deepwater basins of the Far East will be of worldwide significance in terms of production growth. Thus far, exploration results in the region have been mixed, with a strong bias toward gas discoveries.This discussion will review the Far East region in a global context and examine regional trends based on IHS Energy Group's Global E&P database. For purposes of this article, "deepwater" refers to 200 m or more while "ultradeepwater" refers to 500 m or more.Global overviewThe first well drilled in more than 200 m of water, excluding Deep Sea Drilling Project wells, was Deminex-Agip's KK-6-1 in Trinidad in 1971. It also was the ...

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