Exploration Begins Offshore Somalia
Turkey’s seismic research vessel, Oruc Reis, began exploring for oil and natural gas off Somalia’s coast in late October, following an energy cooperation agreement between Turkey and Somalia. Turkish Petroleum obtained licenses for three Somali offshore areas each covering 5,000 km2 for a total of 15,000 km2.
The exploration, expected to last 7 months, will involve 3D seismic surveys to identify potential drilling sites. The ship has the capability to conduct 2D and 3D seismic surveys with the vessel collecting a total of 23,000 km2 to date. Oruc Reis, which has been specifically engineered for geophysical, geological, oceanographic, and hydrographic research, will be escorted by two navy frigates and will travel through the Mediterranean, Suez Canal, and Red Sea.
“The Oruc Reis will do 3D seismic studies in the designated maritime jurisdiction area, which has never been done before. We anticipate the area where the ship will work is a region with oil indicators,” Turkey’s Energy Minister Alparslan Bayraktar said.
Sirius Wells Named Largest Offshore Colombia Discovery
Colombia’s state-run Ecopetrol and Brazil’s Petrobras have announced two major gas discoveries at the Petrobras-operated Sirius project that could significantly boost reserves and maintain Colombia’s energy self-sufficiency. Formerly known as the Uchuva wells, the renamed Sirius-1 and Sirius-2 wells are in the Tayrona block in the Guajira Offshore Basin and are estimated to hold around 6 Tcf of gas in place. Sirius-1 is in water depths of 837 m.
“The initial conception of Sirius … foresees the first offshore gas in 2029 to 2030 with four producing wells and an expected production of 13.3 million cubic meters per day for 10 years,” said Rogerio Soares, Petrobras’ general manager of exploration.
The announcement came at the Colombian Petroleum Association’s (ACP) forum on oil, gas, and energy in Cartagena where according to Reuters, Ecopetrol’s Chief Executive Ricardo Roa told journalists that the company had discovered a new offshore well called Papayuela, which could produce some 800 MMcf/D of gas.
These discoveries help address concerns expressed in Colombia over the country’s ability to maintain gas self-sufficiency after nine energy companies in September called on the government to take all necessary measures to ensure the efficient and reliable supply of energy to households, industries, and shops.
“Sirius alone represents the largest discovery made offshore Colombia and has the potential to double reserves throughout the country,” Soares said.
Successful Phase One Completion Offshore Greece
The Hellenic Hydrocarbons and Energy Resources Management Company (Herema) announced that ExxonMobil and HELLENiQ Energy have successfully completed the first exploration phase of the Southwest of Crete offshore block and will now enter the second phase.
This phase included collecting and assessing 7789 km of seismic data, surpassing the 3250 km requirement. Geophysical data collected from phase one will be processed and analyzed. Herema CEO Aristofanis Stefato said that the exploration activities “verifies our estimates that the Greek subsurface could potentially hold significant natural gas deposits.”
Phase two, which began in early October, focuses on gathering 3D seismic data over 3 years at offshore blocks Ionian and Block 10.
TotalEnergies Announces FID for Suriname Project
TotalEnergies, along with Suriname’s Staatsolie and APA Corp., has announced the final investment decision (FID) for the GranMorgu oil project in offshore Block 58. The project will develop the Sapakara and Krabdagu oil discoveries which are located 150 km off the coast of Suriname and hold 750 million bbl of estimated recoverable reserves.
The FID marks Suriname’s first major offshore oil development.
This development, involving a $10.5 billion investment, is expected to begin production in 2028. The project includes a 220,000 BPD FPSO unit designed to reduce emissions and extend production capacity. GranMorgu is projected to create over 6,000 jobs. TotalEnergies serves as operator with 50% interest in Block 58 with partner APA Corp. (50%). Staatsolie’s Managing Director Annand Jagesar said it’s “highly likely” the company will raise the funds necessary to exercise its option to buy a 20% stake in the project.
CNOOC Starts Up Production of Bohai Bay Project
CNOOC Ltd. began production at the Bozhong 19-2 Oilfield Development Project in central Bohai Bay. The project, located at an average water depth of 20 m, includes a central processing platform and four unmanned wellhead platforms. A total of 59 development wells will be commissioned, consisting of 34 production wells and 25 water-injection wells. Peak production is expected to reach 18,800 BPD of heavy crude oil by 2025.
Bozhong 19-2 is one of several key projects, including Suizhong 36-1 and Luda 5-2, contributing to CNOOC’s production targets for 2025 and beyond.
CNOOC is operator of Bozhong 19-2 with 100% interest.
Eni Explores Libya’s Ghadames Basin
Italian energy company Eni plans to begin exploration in Libya’s Ghadames Basin beginning next year. Eni currently produces about 62 MMBOE per year in Libya.
Martina Opizzi, head of Eni’s North Africa and Levant Region, said the company has consistently regarded Libya as a key region for oil production.
The Ghadames Basin, located in northwest Libya, covers approximately 390,000 km2 and is known for its considerable oil potential, though much of it remains yet to be explored. Eni plans to focus on exploration zones A and B, where the company will conduct seismic surveys and exploratory drilling. The company also plans to launch an offshore drilling campaign in the Sirte Basin, known for its rich hydrocarbon reserves, by the end of 2025.
Equinor Announces Updates of Projects
Equinor announced updates for 19 projects the company is developing in Norway. Thirteen of the projects are highlighted in the proposed national budget for 2025. These projects involve a total investment of more than $18 million. The projects have experienced a cost increase of more than $600,000 in the past year, largely due to currency fluctuations.
Key projects include:
- Johan Castberg: The production FPSO is now anchored, and startup is planned for the end of the year. Costs have risen by more than $200,000 since last year, due to delays and currency effects.
- Oseberg Gas Phase 2 and Power from Shore (OGP): This project involves partial electrification and a new compressor module. Costs increased by more than $150,000 due to delays, including transformer delivery issues. Commissioning has been pushed to 2027.
- Snøhvit Future: This includes onshore compression and electrification at Hammerfest LNG. Costs increased by $170,000, partly due to currency effects and design changes.
Petrobras Partners To Secure Blocks Off Brazil
Petrobras, in partnership with Shell and CNOOC, has finalized three concession contracts including blocks P-M-1737, P-M-1739, and P-M-1797 in the Pelotas Basin offshore Brazil. Including these blocks, Petrobras secured 29 contracts total from the 4th Permanent Concession Offer Cycle.
Petrobras serves as operator and holds 50% interest with Shell (30%) and CNOOC (20%).
JAPEX Eyes Domestic Gas Supply
Japan Petroleum Exploration Co. (JAPEX) will conduct exploratory drilling in the offshore Hidaka area of Hokkaido to confirm the presence of natural gas. The project, located approximately 50 km offshore at a water depth of 1070 m, is scheduled from March to May 2026 and includes a production test on the area’s geological formation. If successful, the project could secure a stable domestic gas supply.
Japan’s Agency for Natural Resources and Energy of the Ministry of Economy, Trade, and Industry’s Subsidy for Geological Survey for Domestic Oil and Natural Gas in FY2024, will cover 50% of the drilling costs.
