How do we assess oil exploration prospects and future potential?
Learn how a large IOC used PetroView® and EV² to quickly identify the most profitable oil exploration opportunities in frontier basins.
How can we help?
A large IOC client was looking for high-impact oil exploration opportunities in frontier basins with carbonate plays. They needed to access both historical and current E&P data and understand future exploration potential to focus their search on the most profitable acreage with the best frontier prospectivity.
The new ventures team used PetroView® and EV² to screen for oil exploration opportunities that met their specific requirements.
The tools enabled the team to:
Search for frontier basins where fewer than 10 wells had been drilled in the last 50 years, and where there had been hydrocarbon shows but no current production. (EV² basin summaries and PetroView®)
High-grade the frontier basins to select only those with carbonate plays and potential discovery sizes of more than 500 mmboe. (EV²)
Identify open acreage in the basin, and rank these according to value and volume potential. (EV² basin view)
Assess the current licence status of the top three blocks, which confirmed two of the top three were on offer as part of an ongoing licensing round. (PetroView®)
PetroView® and EV² helped our client identify two tangible oil exploration prospects that matched their criteria within the targeted basin.
After further in-house assessment, our client made a considered offer for the appropriate block, adding to its portfolio of high-impact oil exploration opportunities.