The Dominican Republic certainly showed faith when it launched its first-ever oil and gas licensing round in July. Exploration in the country dates back to the early 1900s, with little success. Minor oil production from two small fields was recorded during the 1940s and additional drilling occurred in the 1990s, but official estimates have consistently put Dominican Republic proved reserves at zero. Relaunching exploration in the country was a direct mandate from President Danilo Medina’s office, said Nisael Dirocie Matos, director of regulation, importation and uses of hydrocarbons in the Dominican Republic Ministry of Energy and Mines in Santo Domingo. He said the ministry hopes to attract investors in a competitive bidding round, with low cost of entry, frontier exploration opportunities, competitive and simple terms, transparent rules and flexible contracts.
Anyone working in the energy sector knows Argentina’s potential for unconventional resources, particularly the Vaca Muerta Formation in the Neuquén Province. While Vaca Muerta receives the majority of attention and foreign investment, Argentina has five producing basins with great possibilities for exploration and development, said Carlos Lambré, executive secretary of the Federal Organization of Hydrocarbon Producing States.
After years of a brutal industry downturn, Latin American oil and gas is finally starting to get back its strength. But just barely, according to Aditya Ravi, senior analyst for consulting firm Rystad Energy in Oslo. Challenges for the Latin American oil industry include a financial hangover from the oil price collapse, political uncertainties and a struggle to replace declining production. In Latin America, “Brazil and Guyana are the hotspots when it comes to exploration offshore. Until something big comes up in Argentina, it’s unlikely” those provinces will be overshadowed soon, Ravi said.
Call for abstracts is now open for the 1st AAPG/EAGE Papua New Guinea Petroleum Geoscience Conference & Exhibition.
The conference will focus on those who explore for petroleum accumulations, appraise them and seek to develop them as producing oil and gas fields.
Papers on oil and gas fields and their reservoirs and production where it pertains to the subsurface science of the accumulation of petroleum in the region will be considered.
The Division of Professional Affairs has been busy in the first half of 2019. The DPA’s charge is deepening and expanding geoscience professionalism. We achieve this directive in many ways, one being the strengthening of our business acumen.
One of the issues we’re spending a lot of time thinking about is the future of the petroleum geoscience workforce. It’s a topic we’ve covered extensively in the EXPLORER and one that I’ve written about repeatedly in this column. A broad trend observed in the U.S. economy is a move toward “on demand” labor. Also known as the “gig” economy, there is a push to hiring contract or self- employed workers to fill specific job tasks.
During these times of global economic uncertainty, political turmoil and climate change discussions, some, both inside and outside the energy industry, question the value of investing in oil and gas exploration. At the same time, new discoveries, technological advances and collaborative partnerships make exploration more exciting than ever. ExxonMobil Exploration Company President Stephen Greenlee addressed these parallel perspectives during “The Future of Oil and Gas Exploration,” the annual Michel T. Halbouty Lecture he delivered at the AAPG Annual Convention and Exhibition in San Antonio in May.
The shale revolution was made possible because there was technology that allowed developers to drill and complete wells capable of producing oil and gas affordably. Through the years, industry, because of that technology, successfully focused on drilling longer wells, pumping more sand and increasing the number of fracturing stages per well. The question facing industry experts these days is: What will the next breakthrough be that will produce even more efficient and affordable oil and gas?
Over the past 10 years, tight oil boosted the United States back to world prominence in crude oil production. Today’s projections tie future U.S. production levels to continued strength in tight oil output, especially from the Permian Basin. Considering the importance of unconventional oil plays in the overall U.S. production picture, it’s useful to examine the outlook for tight oil. And in the Permian Basin, that outlook isn’t as bright as previously thought.
The application of technology and analytical techniques has always been a hallmark of our profession, but this year ACE had special sessions dedicated to machine learning and AI in petroleum geoscience. The trend toward increased automation and greater efficiency in our workflows will affect how the petroleum explorationist works in the decades to come. Helping our members prepare for this future is something to which AAPG is committed.
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The 2020 International Conference and Exhibition (ICE) call for abstracts is now open. Now is the time to share your knowledge, insights, and research to help guide our geosciences community to expand frontiers and unlock resources for future generations.
Book Now! Exhibit and Sponsorship Opportunities Available. The American Association of Petroleum Geologists (AAPG) 2020 Annual Convention and Exhibition (ACE) will be held 7–10 June, at the George R. Brown Convention Center in Houston, Texas. ACE remains a symbol and the intellectual headquarters for providing the technology, science, and skills to help fuel our future.
One of the main objectives of petroleum exploration consists of predicting reservoir location. Data collected in the basin are used to better understand the sedimentary architecture, but are usually insufficient to accurately characterize this architecture.
Exhibit space is available for the American Association of Petroleum Geologists' 2020 Annual Convention and Exhibition (ACE) to be held 7–10 June, in Houston, Texas.
Sponsorships are now available for the American Association of Petroleum Geologists' 2020 Annual Convention and Exhibition (ACE) to be held 7–10 June, in Houston, Texas.
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