Oil and gas companies are exploring in disparate parts of the world to add more reserves to fulfill growing world energy demand. Egypt intensified oil and gas exploration efforts in the Mediterranean and Red Sea while Ecuador recently opened more onshore blocks to international investors.
Researchers improved and stabilized production for 75 vertical wells on Su-A block of China’s Sulige tight sandstone gas field. They implemented measures that could guide the development of ultralow permeability gas reservoirs elsewhere.
Consistently higher oil prices and greater cost–efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to recent analysis from IHS Markit.
Eastern Australian politicians and industry are grappling with a looming east coast domestic natural gas supply crisis. Sydney-based Gulf Energy Ltd. has secured a leasehold over the whole of a new exploration area called Bamaga basin in the Gulf of Carpentaria, 150 km off the north Queensland coast.
The exploitation of unconventional (continuous) resource plays with horizontal drilling and fracturing techniques continues to spur renewed development in mature producing basins in the US. The Permian basin of west Texas has emerged as a particularly strong prospect due to the potential for multiple stacked resource plays in formations such as the Wolfcamp shale and Spraberry and Bone Spring formations.