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Mideast: Focus returns to exploration plans to start oil and gas exploration in state
Middle Eastern countries are showing an appe- waters offshore Alaska.
tite for resuming exploration efforts as confi- The proposals, which come during a chal-
dence about demand recovery emerges. Despite lenging year when many in the industry are
recently cancelling a contract to drill 11 wells to staying away from new offshore drilling, come
raise heavy oil production, state-owned Kuwait after the super-major abandoned exploration
Oil Co. (KOC) is preparing to launch a tender for in federal waters off Alaska in 2015 following a
an offshore seismic survey as the emirate seeks to series of mishaps during drilling.
identify between six and 20 drill sites as part of its Under the latest proposals – which involve
inaugural maritime exploration effort. a different offshore region – Shell would form
In Oman, while recent licensing efforts have an exploration unit covering 86,400 acres (350
failed, US horizontal drilling specialist EOG square km) and 18 Alaska Beaufort Sea state off- Shale gas
Resources has become the latest firm to commit shore leases that it holds. producer EQT
to brownfield development, signing an explora- Shell said it had identified several prospects
tion and production-sharing agreement (EPSA) within these leases that it believes could hold oil is reported to
for Block 36 in the south-west of the Sultanate. and gas accumulations. The company is propos-
In the Eastern Mediterranean, Energean is ing to update seismic and geological data in 2022 be pursuing an
eyeing a return to exploration work as it pre- and 2023, followed by exploration drilling that
pares for production to start at the Karish field. would be conducted in 2024 and 2025. acquisition in
The London-listed company has signed gas sales The work would be carried out in West Har- the Appalachian
deals worth over $2.5bn and it hopes to add to rison Bay, which is located offshore the National
its already significant resources with nearfield Petroleum Reserve-Alaska (NPR-A). basin
developments. In a separate development – and one that
Meanwhile, Iraq is resuming efforts to could also considered noteworthy during a
re-launch the Iraq National Oil Co. (INOC) fol- severe industry downturn – shale gas producer
lowing a failed attempt two years ago. Baghdad EQT is reported to be pursuing an acquisition in
will hope that putting full control of the sector in the Appalachian Basin.
the hands of one company will result in a stream- The company, which is the largest US gas pro-
lined approach; however, given the country’s ducer by volume, has reportedly put in a bid for
record with corruption, there are fears about the Chevron’s Appalachian gas assets, according to
consolidation of power. sources familiar with the matter, who were cited
by Reuters.
If you’d like to read more about the key events shaping According to one of these sources, EQT has
the Middle East’s oil and gas sector then please click offered $750mn for the properties.
here for NewsBase’s MEOG Monitor.
If you’d like to read more about the key events shaping
North America: Shell pursues exploration the North American oil and gas sector then please click
Royal Dutch Shell (UK/Netherlands) has filed here for NewsBase’s NorthAmOil Monitor .™

P10 www. NEWSBASE .com Week 38 24•September•2020