2024 saw several significant offshore oil and gas discoveries, thanks to the long-term efforts of geoscientists to incorporate more complex geological models with seismic and to harness the new computing power to work with massive data sets.
Specifically, part of that breakthrough has to do cloud-based tools for rapid ingestion and data management. The other has to do with the ability to accomplish cloud-based analysis, ranging from basin modeling, reservoir characterization, fluid flow and geopressure, which are a part of new AI and machine-learning-based business decision tools.
Guyana’s Continued Success
ExxonMobil, along with Hess and CNOOC, continued to make substantial discoveries in Guyana’s Stabroek Block. These discoveries – primarily oil – were based on 3-D and 4-D seismic surveys, and exploratory drilling significantly boosted Guyana’s oil and gas reserves.
Kuwait Discoveries
The Al-Nokhatha field discovery in the Persian Gulf off the island of Failaka was a major find for Kuwait and was discovered as a result of advanced basin modeling, seismic imaging and new drilling technologies. The field, which contains both oil and gas, was discovered by Kuwait Petroleum Corporation and its subsidiary, the Kuwait Oil Company. Initial production rates achieved 2,800 barrels of light oil and 7 million cubic meters of associated gas.
More recently, in January, another announcement followed a discovery of large commercial volumes of hydrocarbons at Al-Jlaiaa offshore field with an estimated 800 million of medium-density oil barrels and 600 billion standard cubic feet of associated gas.
Namibia’s Orange Basin Potential
Several significant discoveries were made in Namibia’s Orange Basin, highlighting the region’s emerging importance in offshore exploration. Namibia is a great example of how a deep understanding of plate tectonics, boundary dynamics and petroleum systems models, combined with high-resolution seismic processing and well-placed exploratory drilling, can lead to the opening up of new provinces. Companies that are active include Shell and TotalEnergies. The reservoir consists primarily of oil.
China’s Bohai Bay Breakthrough
The China National Offshore Oil Corporation made a significant gas discovery in Bohai Bay, demonstrating the potential of deeper exploration in Chinese waters. In order to achieve this breakthrough, CNOOC had to expand their abilities to drill for natural gas in deep, harsh, difficult conditions, and also to understand and model highly complex geology. This was possible through close collaboration with other Chinese companies and key research laboratories.
Other Corners of the Globe
Offshore oil and gas exploration is moving ahead in other parts of the world as well and are assisted by the efforts of teams of geologists, geophysicists and geochemists who utilize new machine learning-powered software platforms and data management for rapid updating of models as soon as new seismic interpretations can be incorporated, and also results from drilling and testing new exploratory wells. Agility is the key. Technologies used for identifying the targets and drilling in ultra-deepwater settings like the U.S. Gulf of Mexico include high-resolution 3-D seismic surveys, advanced drilling technologies (e.g., extended-reach drilling) and pressure management to avoid drilling hazards. Companies include ExxonMobil, Chevron, Shell, BP and many smaller independent companies such as Murphy. The targets include deepwater reservoirs, pre-salt plays (like those found in Brazil).
Brazil’s Pre-salt Region continues to expand with continued exploration and development of existing fields. Petrobras leads the way as they also partner with international oil majors. They are currently expanding production from existing pre-salt discoveries and using new methods for managing the risks of high operating costs, challenges associated with deepwater and high-pressure environments.
Asia-Pacific exploration for deepwater and ultra-deepwater reservoirs in the South China Sea, Indonesian waters and other areas continues, and one key tool is the integration of 3-D seismic with more in-depth and complex basin modeling along with petroleum systems that incorporate additional information including temperature, geochemical analysis of reservoir fluids and more.
The outlook for expanded local exploration looks positive as countries and regions seek to solidify their energy supplies for security purposes and to meet the increasing demand, particularly for countries experiencing high population and economic growth. As we continue to develop even more detailed images of the subsurface in AI-powered advanced basin modeling, we will continue to make more discoveries and improve our ultimate oil recovery.