Oil and Gas

Finder acquires North Sea Goose license from Azinor

Finder Energy announced that it had completed its acquisition of the highly prospective UK North Sea Goose licence, P2317, from Azinor Catalyst Limited (Azinor). P2317 is located in the NW Witch Ground Graben of the Outer Moray Firth, Central North Sea, and covers an area of 292 square kilometres and is 175 km NE of Aberdeen (see Location Map). The licence contains the drill-ready Goose prospect, a large low-risk amplitude supported Lower Cretaceous prospect, that sits immediately adjacent to the Northern Flank of the Claymore field. The Goose prospect has Pmean recoverable resources of 75 mmbbl with additional low-risk follow-on potential at the adjacent 85 mmbbl Long Bird prospect. Finder currently holds an operated 100% working interest in this licence and is seeking partners to join in the drilling of the Goose exploration well in 2022 or 2023.

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Sancrai-1 Gas Discovery

Serinus Energy plc announced the drilling of the Sancrai-1 well discovered gas. The drilling of the well has concluded achieving the total planned drilling depth of 1,600 metres. The well was drilled five days ahead of schedule and approximately 19% below budget. Continuous formation gas shows were recorded over 20 metres of gross pay over four sand intervals from the measured depths of 855 metres to 875 metres. At this drilling interval, the measured total gas ranged from 5.5% to 11.1% with an estimated average porosity of between 23% and 27%. Open-hole petrophysical analysis undertaken during the drilling operations has further confirmed this gas-bearing Pliocene sand zone. The Company will now proceed to perforate and test the Pliocene sand zone before completing the well for future production This newly discovered gas field lies approximately 7.8 km to the south of the Moftinu Gas Development project and provides Serinus with a high value, high return development opportunity similar to the Moftinu Gas Development project. The close proximity of the Sancrai - 1 well to the Moftinu Gas Plant provides the Company with the option to bring this well onto commercial production while drilling additional appraisal development wells into the structure to fully delineate the gas field.

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Successful Flow Test Results from Columbus Development Well

Serica Energy plc announced successful flow test results from the Columbus development well.

The well was drilled to a measured depth of 17,600ft with a horizontal section of over a mile in length in the Forties Sandstone formation. The completion equipment has been successfully installed into the well and a flow test has now been performed. A stabilised flow rate of 38.0mmscf/d of gas and 1,560bbls/d of condensate has been achieved through a 56/64ths inch choke. This rate was at the upper end of the pre-drill range of expected outcomes and was constrained by the surface well test equipment on board the Maersk Resilient Heavy-DutyJack-Up drilling rig.

Columbus was discovered by Serica in 2006. Serica has a 50% interest and has been the operator throughout the exploration, appraisal and field development stages and has developed the field in conjunction with its partners Waldorf Production UK Ltd. and Tailwind Energy Ltd

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PL 820 S has concluded the drilling of appraisal wells on the Iving discovery

MOL Norge AS, operator of production licence 820 S, has concluded the drilling of appraisal wells 25/8-21 S and 25/8-22 S on the 25/8-19 S (Iving) oil and gas discovery

The wells were drilled about 8 kilometres northwest of 25/8-11 Ringhorne on the Balder field in the North Sea, about 200 kilometres west of Stavanger

The 25/8-19 S (Iving) discovery was proven in 2019 in reservoir rocks from the Palaeocene (Heimdal Formation), the Early Jurassic (Statfjord Group), the Late Triassic (Skagerrak Formation) and in basement rock. Before appraisal wells 25/8-21 S and 25/8-22 S were drilled, the operator's resource estimate for the discovery was between 2 and 11 million standard cubic metres of recoverable oil equivalent in the Skagerrak formation. The primary exploration target for well 25/8-21 S was to encounter the oil/water contact in sandstones in the Skagerrak Formation. The secondary exploration target was to evaluate the petroleum potential in the basement rock reservoir. The primary exploration target for well 25/8-22 S was to evaluate the petroleum potential in sandstones in the lower part of the Statfjord Group and in the Skagerrak Formation. The secondary exploration target was to evaluate the petroleum potential in the Heimdal Formation and basement rock. The results show that the appraisal wells will lead to a downward adjustment of the resource estimate in the Skagerrak Formation in 25/8-19 S (Iving), but it is still too early to give an updated estimate for the discovery."

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Qatar Petroleum enters into three offshore exploration blocks in South Africa with TotalEnergies

Qatar Petroleum entered into agreements with TotalEnergies to acquire working interests in three offshore exploration blocks in South Africa. Under the terms of the agreements, which are subject to customary approvals by the government of South Africa, Qatar Petroleum will hold a 25% participating interest in the South Outeniqua block, a 30% participating interest in the DWOB block, and a 29.17% participating interest in the OBD block.

The South Outeniqua block covers an area of approximately 49,000 square kilometres in water depths ranging between 200 and 5,000 meters. TotalEnergies is the Operator and holds the remaining participating interest in the block. It is located directly south of the 11B/12B block where TotalEnergies, Qatar Petroleum, Canadian Natural Resources Limited and Main Street Limited have announced significant gas condensate discoveries in the Brulpadda and Luiperd prospects.

The DWOB and OBD blocks cover a combined area of about 53,000 square kilometres in water depths ranging between 1,000 and 4,200 meters and are located in the Orange Basin directly south of Namibian blocks 2912 and 2913B in which Qatar Petroleum already holds participating interests, and in close proximity to Blocks 2913A and 2914B, into which Qatar Petroleum's entry was recently announced, pending customary approvals. The other JV partners in the DWOB block are TotalEnergies (Operator) with a 50% participating interest, and Sezigyn with a 20% participating interest. In the OBD block the JV partners are TotalEnergies (Operator) with a 48.61%, participating interest and Impact with a 22.22% participating interest.

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Woodside launches Senegal drilling campaign

Woodside Energy Senegal B.V. as operator of the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture, which includes Société des Pétroles du Sénégal (PETROSEN), plans to begin the drilling campaign this week for the Sangomar Field Development Phase 1 offshore Senegal.

The RSSD joint venture took final investment decision in January 2020, and work to develop the world-class Sangomar resource has continued since. With the start of the 23-well drilling campaign, we remain on track to achieve targeted first oil production in 2023.

The wells will be drilled by two drilling ships, the Ocean BlackRhino and the Ocean BlackHawk. The Ocean BlackRhino arrived in Senegalese waters on 8 July 2021 and the Ocean BlackHawk will arrive in mid-2022.

Woodside's participating interest in the RSSD joint venture is 82%for the Sangomar exploitation area (with PETROSEN's participating interest 18%) and 90% for the remaining RSSD evaluation area (with PETROSEN's participating interest 10%).

The Sangomar Field Development Phase 1 will comprise a stand-alone floating production storage and offloading facility (named after Leopold Sédar Senghor) with a production capacity of approximately 100,000 barrels per day, 23 subsea wells and supporting subsea infrastructure."

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Eni announces a significant oil discovery in Block 4, offshore Ghana

Eni announces a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana. The Eban - 1X well is the second well drilled in CTP Block 4, following the Akoma discovery. Preliminary estimates place the potential of the Eban-Akoma complex between 500 and 700 Mboe in place.

The Eban - 1X well is located approximately 50 kilometers off the coast and about 8 kilometers Northwest of Sankofa Hub, where the John Agyekum Kufuor FPSO is located. It was drilled by the Saipem 10000 drilling ship in a water depth of 545 meters and reached a total depth of 4179 meters (measured depth). Eban - 1X proved a single light oil column of approximately 80m in a thick sandstone reservoir interval of Cenomanian age with hydrocarbons encountered down to 3949m.

The estimated hydrocarbon in place between the Sankofa field and the Eban-Akoma complex is now in excess of 1.1 Bboe and further oil in place upside could be confirmed with an additional appraisal well.

Due to its proximity to existing infrastructures, the new discovery can be fast-tracked to production with a subsea tie-in to the John Agyekum Kufuor FPSO, with the aim to extend its production plateau and increase production. The Eban discovery is a testimony to the success of the infrastructure-led exploration strategy that Eni is carrying out in its core assets worldwide

The Joint Venture of CTP Block 4 is operated by Eni (42.469%), on behalf of partners Vitol (33.975%), GNPC (10%), Woodfields (9,556%), GNPC Explorco (4,00%)"

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Talos Energy Provides Update On Zama

Talos was notified by Mexico's Ministry of Energy ('SENER') that it had designated Petróleos Mexicanos ('Pemex') as the operator of the Zama unit, just three days after it received a letter directly from Pemex arguing for operatorship.

Since being awarded Block 7 as the first private operator in the country, Talos drilled the exploratory well that led to the Zama field discovery in July 2017. Talos subsequently continued to invest in the Zama appraisal, and the Mexican economy, by drilling three additional wells as part of the delineation of the Zama field. Talos has consistently demonstrated unrelenting commitment to the optimal development of the field, as the Company has advanced a complete Front End Engineering and Development ('FEED') study and presented the National Hydrocarbons Commission ('CNH') a development plan that maximizes oil and gas recovery and value to the Mexican people. Talos has also consistently demonstrated its capabilities and qualifications to be the operator of the unit, its expertise operating in Zama's geology and water depth and its stellar safety and environmental track record in its operations in Mexico.

After six years of significant investments in Zama and the Mexican economy, as well as the delivery of a Zama development plan that is credible and in line with the objectives of Mexico, Talos is very disappointed with SENER's sudden decision to award operatorship to Pemex, especially in light of the timing under which the award occurred.

Talos remains committed to maximizing value for its shareholders from its Zama asset and will explore all legal and strategic options to do so.

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LUKOIL Enters Area 4 Project in Mexico

PJSC LUKOIL announces the entry into an agreement to acquire the 50% operator interest in the Area 4 project in Mexico through the acquisition of the operator's holding company. The transaction value is $435 million plus expenditures incurred in 2021 as of the transaction completion date. The completion of the transaction is subject to certain conditions, including approval by the Mexican authorities.

The Project includes two blocks, 58 square kilometers in total, which are located 42 kilometers offshore Mexico in the Gulf of Mexico. The sea depth at the blocks is 30-45 meters. Two oil fields - Ichalkil and Pokoch - are located within the blocks. The recoverable hydrocarbon reserves of the fields amount to 564 million barrels of oil equivalent, more than 80% of which is crude oil.

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Jabillo-1 Well Result

The Jabillo-1 well in the Canje Block, offshore Guyana, reached its planned target depth and was evaluated but did not show evidence of commercial hydrocarbons. Jabillo-1 will now be plugged and abandoned. This well was drilled at no cost to JHI or Eco and was completed on a full carry basis.

The Jabillo-1 well was drilled to test Upper Cretaceous reservoirs in a stratigraphic trap. The well was positioned offshore Guyana, approximately 265 km northeast of Georgetown, in 2,903 meters of water and was safely drilled to a total depth of 6,475 meters.

The Stena DrillMax Rig is currently operating in the ExxonMobil Operated Stabroek Block and is expected to move on to drill the Sapote-1 well, in the eastern portion of the Canje Block. The Sapote-1 Well is expected to be spud in mid-August 2021 with an estimated drilling time of up to 60 days.

The Sapote-1 prospect is located in the southeastern section of Canje, and is a separate and distinct target from Jabillo. Sapote-1 lies approximately 100 km southeast of Jabillo and approximately 50 km north of the Haimara discovery in the Stabroek Block which encountered ~207 feet (63 meters) of high-quality,gas-condensate bearing sandstone reservoir and approximately 60 km northwest of the Maka Central discovery in Block 58 which encountered ~164 feet (50 meters) of high-quality, oil-bearing sandstone reservoir."

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Hess Announces Oil Discovery at Whiptail, Offshore Guyana

Hess Corporation announced a significant oil discovery on the Stabroek Block offshore Guyana at Whiptail. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which is located 3 miles northeast of Whiptail-1 and has encountered 167 feet (51 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling continues at both wells to test deeper targets, and results will be evaluated for future development.

The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail field. Whiptail-1 is being drilled in 5,889 feet (1,795 meters) of water by the Stena DrillMAX. Whiptail-2 is currently being drilled in 6,217 feet (1,895 meters) of water by the Noble Don Taylor.

The Stabroek Block is 6.6 million acres. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest."

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Suriname: TotalEnergies Announces Another Successful Well in Offshore Block 58

TotalEnergies and APA Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi.

Located 4 kilometers south-east of the Sapakara West-1 discovery, Sapakara South-1 was drilled in a water depth of about 850 meters. Sapakara South encountered 30 meters net pay of oil, in a good quality Campano-Maastrichtian reservoir.

The drilling operations will continue with the Maersk Valiant drillship. TotalEnergies is the operator, holding a 50% working interest and Apache holding a 50% working interest. Upon completion of the Sapakara South -1 well, the rig will move to drill the Bonboni - 1 well in Block 58."

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