High impact exploration drilling is expected to remain stable in 2025, with 65-75 wells targeted for completion, compared to 69 in 2024. In this regard, South America could see 17 of these wells being drilled, making it the busiest region globally this year.
This is according to energy market research and intelligence group, Westwood Energy, in its latest exploration insights, released on February 5.
Westwood said as of January 31, seven high impact wells were completed, 22 wells are being drilled, 20 firm wells have been identified and an additional 23 wells are classed as probable.
Turning its attention to frontier wells, Westwood said 21 wells are expected in 2025, representing a small increase on the 19 wells targeted 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.”
Since 2023, U.S. oil major ExxonMobil has been pursuing a 35-well campaign offshore Guyana where it has already found more than 11 billion barrels of oil equivalent and is currently producing over 640,000 barrels of oil per day. This drill programme, the largest single exploration campaign to be undertaken by any explorer offshore Guyana, runs through 2027.
Westwood said the Santos and Campos basins in Brazil will see key wells at Andorinha in the Campos Basin, located 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…is Korikori, which will test a shallow water Upper Cretaceous play inboard of the prolific deep-water play,” Westwood said. Two wells are also expected in the Demerara area offshore Suriname targeting the Macaw and Araku Deep prospects.
TotalEnergies’ Gran Morgu project will drive local participation in 45 sectors – Suriname GM
In January, TotalEnergies announced a new drill campaign in Block 64 offshore Suriname, further northeast of Block 58, where it has made around five discoveries and is moving to develop the Gran Morgu project. Dutch floater specialist SBM Offshore, in partnership with Technip Energies, has been awarded contracts to construct and install a floating production, storage and offloading vessel for the project.
