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Catalog of recent oil discoveries pt 3

General discussions of the systemic, societal and civilisational effects of depletion.

Significant new discovery in MX GOM

Unread postby rockdoc123 » Wed 12 Jul 2017, 10:50:14

Mexico Oil Privatization Pays Off With Billion-Barrel Find

https://www.bloomberg.com/news/articles ... ico-waters

A consortium of Premier Oil Plc, Sierra Oil & Gas S de RL de CVand Talos Energy LLC made the discovery in the shallow waters of the southern Gulf of Mexico just two years after winning the exploration license. It’s the first new find by a private company in the country in almost 80 years, according to consultant Wood Mackenzie Ltd., possible only after the government ended the monopoly of state-run Petroleos Mexicanos.


When Premier Oil and its partners spudded the Zama-1 exploration well in May, the estimates were for as much as 500 million barrels of oil in place. In an interview on Wednesday, Tony Durrant, the chief executive officer of Premier Oil said that figure is now 1 billion to 1.5 billion barrels. Sierra said the primary target reservoir contains 1.4 billion to 2 billion barrels and could extend into a neighboring block.
Premier is taking a “reasonable guess” but said its partners may deem it’s being “too cautious,” Durrant said. Full drilling results due next month are more likely to confirm or upgrade current estimates, he said


early days but interesting.
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Re: Significant new discovery in MX GOM

Unread postby Cog » Wed 12 Jul 2017, 13:54:12

In before the usual suspects post that this is only around 11 days global oil consumption and doesn't matter.
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Re: Significant new discovery in MX GOM

Unread postby copious.abundance » Thu 13 Jul 2017, 17:32:40

Abundance aplenty. :)
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Bahrain makes largest oil discovery in its history

Unread postby AdamB » Sun 01 Apr 2018, 18:13:14


Bahrain on Sunday announced it has discovered the largest oil and gas field in the history of the small kingdom, which unlike its Gulf neighbors is not energy-rich. Authorities estimate the newfound reserves at "many times" the volume of Bahrain's only other known oil field, the state-run BNA news agency said. BNA did not give details on the size of the new light shale oil and gas find or on the expected date of the start of production. Manama is the smallest producer of hydrocarbons in the Gulf Cooperation Council (GCC), which also groups Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Bahrain currently has only one oilfield with several hundred million barrels of crude reserves. The field was the first to be discovered in the Gulf and the first to start production. It currently pumps around 50,000 barrels per day (bpd), in addition


Bahrain makes largest oil discovery in its history
Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0
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Re: Catalog of recent oil discoveries pt 3

Unread postby Cog » Mon 02 Apr 2018, 06:15:42

Details of the Bahrain discovery to be released on Wednesday.


https://www.cnbc.com/2018/04/02/bahrain ... -1932.html
The Persian Gulf island nation of Bahrain says it has discovered its largest oil field since the country's first oil well began operation nearly 90 years ago.

The government said Sunday that the new resource is "understood to dwarf Bahrain's current reserves."

Details about the initial findings of size and extraction viability are to be released by the Oil Ministry at a news conference Wednesday.


Bahrain says the tight oil and deep natural gas field was discovered off the west coast of the island in the Khaleej Al Bahrain Basin.

The non-OPEC producer extracts oil from an offshore field it shares with Saudi Arabia and the onshore Bahrain field.
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Re: Catalog of recent oil discoveries pt 3

Unread postby rockdoc123 » Mon 02 Apr 2018, 11:56:49

From what I've read this is a new discovery in a tight carbonate (marly shale). Water depths are shallow but being offshore it means the economics for tight oil development will be somewhat more challenging.
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