2024 Oil & Gas in review - Guyana Namibia Global
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- Опубліковано 5 лют 2025
- 2024, another exciting year for the global oil and gas industry!
We whiz through the year giving a summary of what we covered in our videos and pulling out some of the main stories. Let us know what else should have been included in our review!
Activity continues for hot spots Guyana, Suriname and Namibia. Plenty of appraisal drilling, discoveries and FIDs for Guyana and Suriname but some lulls in activity offshore Namibia and recent disappointment with Shells large write down announced recently.
Other Atlantic regions have seen plenty of activity too such as Trinidad with Dragon field developments and Manatee. Brazil continues to explore its non-producing offshore areas with success on the equatorial margin while developing large pre-salt discoveries such as Mero. Senegal had its first ever oil production from the Sangomar deepwater field.
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I enjoy your videos. The only improvement is more discussion around commercial issues. Big discoveries like Namibia often turn out to be disappoointing or delayed because of commerical and subsurface complexity (porosity, perm, compartmentalization, multiple reservoirs that require more wells to drain, fiscal systems which inhibit development, higher cost from inflation, increasing rig rates, water depths at or above 3000 m, HTHP etc). Unfortunately these issues tend not to get published but are discussed at the OPCOM level. Plus the complexity of these issues do not bubble up to govt level quickly because the govt does not understand the issues. I suspect Namibia will be much harder and slower to progress. Similarly, Suriname will struggle for the same reasons.
Hi Rudy, you cover a lot of ground in your comment but we think there is enough here for a future video - yes there are many areas where politicians and others could learn about the complexities and challenges of the O&G industry. Many thanks for your comment. Watch this space....
Oil and gas should merge with farmers
Agreed
Had to think about this one. I believe you are referring to the ongoing tax protests by farmers in London. Certainly there are representative bodies in the oil & gas industry that could be a lot more vocal than they are. However, we are more than happy to fight the fight on our video channel. To that end, if you have got material (graphs, stats etc) with the source of the data - please send them in to us and we could use these in a future video.
@@TROVE-1stSubsurface
Yes the current fiscal regime.