Energy data and intelligence provider TGS has announced a new multi-client 2D-cubed seismic project in the offshore Andaman region of India. The initiative will leverage 2D-cubed technology, which converts 2D seismic data into a regional-scale 3D volume. This process allows interpreters to use 3D interpretation software on 2D datasets, supporting geological analysis and communication of subsurface findings. Spanning 640,000km², the project will focus on both shallow and deep-water siliciclastic sediment ...

Core Insights - BP has confirmed the preliminary results of the Volans-1X exploration well in Namibia's Orange Basin, marking a significant hydrocarbon success in a key frontier region [1][7] Exploration Details - The Volans-1X well, drilled by Rhino Resources using the Deepsea Mira semi-submersible rig, reached a total depth of 4,497.5 meters and successfully intersected its Upper Cretaceous target, encountering 26 meters of net pay in gas condensate-bearing reservoirs with excellent petrophysical characteristics and no water contact [2] - Initial lab analyses of two samples from the well indicate a high condensate-to-gas ratio (CGR) exceeding 140 bbl/mmscf, with liquid density near 40° API, suggesting the presence of light, valuable condensate [3] Stakeholder Information - PEL85 is operated by Rhino Resources, which holds a 42.5% stake, alongside Azule Energy (42.5%), NAMCOR (10%), and Korres Investments (5%). BP owns 50% of Azule Energy, its joint venture with Eni, providing substantial exposure to this new Namibian discovery [4] Broader Context - The Volans-1X well represents the third major discovery in 2025 for Azule Energy and its partners, following the Capricornus-1X light oil discovery in Namibia and the Gajajeira-01 gas find in Angola [4] - For BP, this discovery adds to a series of eleven exploration discoveries globally this year, including finds in the Gulf of Mexico and Brazil's Santos Basin, highlighting the company's renewed upstream momentum [5] Industry Trends - The Orange Basin has rapidly emerged as a significant global exploration area, with multi-billion-barrel potential following high-profile discoveries by TotalEnergies and Shell, attracting major upstream investment as operators seek to commercialize offshore resources [6] - This result reinforces Namibia's rising profile as a new hydrocarbon province and BP's ongoing success in high-impact exploration, balancing low-carbon transition with strategically valuable upstream growth [7]

Core Insights - Angkor Resources Corp. announces plans for exploratory oil and gas drilling on Block VIII in Cambodia, with a commitment to drill multiple exploratory wells in 2026 based on promising seismic data interpretations [1][3]. Company Developments - Angkor's subsidiary, EnerCam Resources Co. Cambodia Ltd., completed approximately 350-line kilometers of 2-D seismic across Block VIII, identifying at least three significant closed anticlines [2][3]. - The CEO expresses confidence in the interpretations of the seismic data, indicating that the structures identified are of significant quality and size, warranting further exploration [3]. - EnerCam is actively sourcing a suitable drilling rig and supporting equipment to conduct the first onshore wells in Cambodia [7]. Technical Findings - The seismic data indicates the presence of large anticlines with four-way closures of over 48 square kilometers and 60 square kilometers, suggesting a working hydrocarbon system [3][4]. - There are indications of Direct Hydrocarbon Indicators (DHIs) and potential multiple layers of reservoir strata beneath the sealing formation cap layer [6]. - The estimated rock volume of a single '1 meter thickness reservoir zone' under proven closures is approximately 48 million and 60 million cubic meters, highlighting the potential for significant hydrocarbon accumulation [6]. Future Plans - The company is focused on completing the seismic processing and interpretation to better understand the hydrocarbon system and reduce risks associated with reservoir quality and seal integrity [7]. - Management is committed to advancing activities to ensure the successful drilling of exploratory wells in the upcoming year [7].

Core Insights - Shell plc has completed farm-out agreements in Exploration Block 4 offshore São Tomé and Príncipe, partnering with Petrobras and Galp Energia to enhance exploration and development activities in the region [1][19]. Company Structure and Partnerships - Shell retains a 30% working interest in Block 4, while Petrobras and Galp Energia each hold a 27.5% stake, with the remaining 15% held by the national oil company ANP-STP [2][19]. - The operational leadership by Shell emphasizes its commitment to technical excellence and strategic precision in exploration activities [3][19]. - The collaboration with Petrobras and Galp Energia allows for shared geological insights and regional expertise, enhancing resource allocation efficiency [3][4]. Petrobras' Strategic Moves - Petrobras has expanded its portfolio in São Tomé and Príncipe, now holding interests in four offshore blocks, reflecting its strategic focus on West African deepwater assets [5][19]. - The company secured a 45% interest in offshore Blocks 10 and 13 and a 25% stake in Block 11 earlier in 2024, showcasing confidence in the region's geological potential [5][6]. Galp Energia's Contributions - Galp Energia has established itself as a key operator in the region, managing ultra-deepwater Blocks 6 and 12, and holds a 20% interest in Block 11 [7][19]. - The successful drilling of the Jaca-1 well in 2022 confirmed an active petroleum system, validating previous geological studies and guiding further exploration strategies [8][19]. Geological Potential and Exploration Outlook - Exploration Block 4 is located in a highly prospective basin with complex geological structures and proven petroleum systems, favorable for hydrocarbon generation [11][12]. - Ongoing seismic surveys and geological analyses aim to refine subsurface understanding and identify commercially viable hydrocarbon accumulations [12][19]. Strategic Importance of the Region - The offshore blocks in São Tomé and Príncipe are becoming significant assets in the West African energy landscape, attracting global energy majors due to their untapped hydrocarbon potential [14][19]. - The collaboration among Shell, Petrobras, Galp, and ANP-STP exemplifies a model for maximizing exploration success through shared expertise and risk mitigation [15][19]. Future Commitments and Initiatives - The joint venture partners are committed to an aggressive exploration program in Block 4, including advanced seismic acquisition and potential drilling campaigns [17][19]. - The partnership emphasizes technological innovation and environmental stewardship, incorporating cutting-edge exploration tools and best practices [18][19].

Core Insights - MOL, in collaboration with O&GD, has discovered a new oilfield near Galgahévíz, Hungary, expected to yield approximately 1,000 barrels of oil per day [1][2] - The new Galgahévíz-4 well is projected to increase MOL's domestic oil production by around 4% [2] - MOL prioritizes domestic hydrocarbon exploration to enhance Hungary's energy security and reduce import dependency [3] Production and Operations - The Galgahévíz-4 well was drilled to a depth of 2,400 meters and reached its target depth in 37 days, now operational after successful testing [4] - MOL operates nearly 1,300 oil and gas wells in Hungary, which accounts for 39% of its total production [4] - In the previous year, MOL contributed to 47% of Hungary's crude oil production and nearly 80% of its natural gas output [4] Strategic Partnerships - Earlier in the year, MOL and Turkish Petroleum secured concession agreements for joint hydrocarbon exploration in the Tamási and Buzsák areas [5]