After years of budget cuts, oil and gas companies are finally stepping up their exploration game. Several wildcat wells planned for 2019 have the potential to be 'elephant' finds, according to Rystad Energy.
Drilling & production
Following the announcement by Indonesia's upstream regulator SKK Migas on a gas discovery in Indonesia, Wood Mackenzie's research director Andrew Harwood provides commentary.
The company has announced its plan to bring the TLP-103C well at its Tilapia licence in the Republic of the Congo into production.
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The contract will create two new roles (a customer support engineer and a technical advisor) and will also increase the service engineer team by 10%.
Collaboration of Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers in committing and adhering to oil production cuts resulted in the historic Declaration of Cooperation in 2017.
The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5200 ft (1584 m).
The Vaca Muerta Shale Basin in Argentina is the only unconventional play outside of North America where activity has already made the transition from exploration to full-scale development.