Some 65-75 high impact exploration wells are expected to be completed this year, compared to the 69 completed in 2024, according to the energy analyst Westwood.
Some 65-75 high impact exploration wells are expected to be completed this year, compared to the 69 completed in 2024, according to the energy analyst Westwood.
As of the end of January, seven high impact wells have been completed, 22 wells are drilling, 20 firm wells have been identified and an additional 23 wells are classed as probable.
Twenty one frontier wells are expected in 2025, a small increase on the 19 wells in 2024. Eleven of these 21 are targeting frontier basins, whilst new plays will be tested in the proven Sabah, Rio Muni, Western Black Sea, Suriname-Guyana and Cauvery basins. Emerging play wells are expected to account for ~30% of the high impact inventory in 2025 down from 36% in 2024. High value, >100mmboe prospects in mature and maturing plays are forecast to make up 40% of the high impact programme, an increase on last year. The Arabian, Campos, Gulf of Mexico, Kutei, Norwegian Sea, Santa Cruz and Santos basins will all have multiple high impact maturing/mature play prospects drilled.
QatarEnergy is expected to be the most active explorer in 2025, participating in 13 high impact wells. All of these are operated by supermajors apart from one well in Brazil, operated by Petrobras. Chevron will rank second, participating in seven wells. Six companies are expected to drill six high impact wells in 2025, including all of the remaining supermajors.
In Africa 14 high impact wells are expected to be drilled. There are expected to be 7-10 wells in the newly opened Orange Basin. Key wells for the Orange Basin include Olympe-1X and Sagittarius-1X. Azule Energy is expected to drill the Kianda-1 well in the outboard area of the Congo Basin, Angola in 2H 2025, and there are potential high impact wells being drilled offshore in the Namibe, Rio Muni and Tano basins, as well as potential frontier onshore tests in the Cabora Bassa and Kavango basins.
High impact drilling in North America continues to decline, with only five high impact wells currently anticipated to be drilled in 2025, down from 13 completed in 2024 and 20 in 2023. Four high impact sub-salt Miocene tests are expected to complete in the US GoM, including the Far South well which is currently drilling. In Alaska, the Armstrong-led JV is expected to drill the Sockeye-2 well in the 2024-2025 drilling season attempting to extend the Cretaceous topset play further east.
There could be 17 high impact wells in South America in 2025, making it the busiest region globally. There will be key wells at Andorinha in the Campos Basin, south of Marlim Sul, and the Bumerangue well in the Santos, which will attempt to extend the pre-salt play further south. In Colombia, Petrobras is expected to drill the Buena Suerte well targeting assumed Miocene reservoirs over a basement high close to the multi-tcf Sirius discovery. A key well in Suriname in 2024 is Korikori, which will test a shallow-water Upper Cretaceous play inboard of the prolific deep-water play. Two wells are also expected in the Demerara area offshore Suriname targeting the Macaw and Araku Deep prospects.
In the Mediterranean, Black Sea and Middle East, 14 high impact wells are expected. Key wells to watch are the dry Khendjer well and the Nefertari gas discovery in the Herodotus Basin offshore Egypt. Two wells are expected offshore Cyprus in 2025, with Elektra currently drilling, testing a significant extension of the Nile Delta Miocene play and Pegasus testing the emerging Cretaceous carbonate play. Matsola offshore Libya is testing the offshore extension of the Sirte Basin. In the Western Black Sea, OMV Petrom will drill the Vinekh well aiming to extend the Sakarya play from Turkey into Bulgaria. Elsewhere, high impact wells will be drilled in Kuwait, Kazakhstan, and the UAE.
Fourteen high impact wells are expected in Asia Pacific, including the Hai Su Vang-1X well which was completed as a discovery in early 2025. Key frontier wells are expected offshore South Korea at Daewanggorae, as well as at Mailu offshore Papua New Guinea. Drilling will continue in the Kutei Basin offshore Indonesia, and at the Megah high impact well offshore Malaysia. There will be at least 5-6 high impact wells in India from Oil India and ONGC across the east coast and Andaman Islands basins
In Europe, eight high impact wells are expected. Two high impact wells are expected in the Barents Sea, including the frontier ILX well Elgol. In the UK, the Dabinett well will test an emerging Permian carbonate play in the Southern North Sea, and in Poland the frontier Wolin East-1 well is expected to complete in the coming months.
