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Posts Tagged ‘Argentina’

High potential deepwater exploratory wells at opposite ends of the Pan American Atlantic while the US Atlantic remains “wind-only”

Posted in Canada, drilling, energy policy, Offshore Energy - General, tagged , , , , , , , , , , , , on April 30, 2024| Leave a Comment »

The Valaris DS-17 drillship is now on location to drill the Algerich-1 well for Equinor 315 km from Mar del Plata in 1527 m of water at Block CAN 100.

Concurrently, at the opposite end of the Pan American continents, the Stena DrillMAX is closing in on Exxon’s Orphan Basin location offshore Newfoundland to drill another high potential well.

Meanwhile, the US Atlantic is “wind-only,” despite high deepwater oil and gas potential. The late Paul Post, an esteemed colleague and the leading expert on the petroleum geology of the US Atlantic, believed the deepwater US Atlantic could contain >20 billion BOE. No other Pan American nation has completely closed its Atlantic margin to oil and gas exploration.

Can a nation with a debt of $35 trillion afford to ignore oil and gas resources that will remain in high demand for decades?

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Will Oil Discovery Increase Falkland (Malvinas) Tension?

Posted in Uncategorized, tagged , , , , , on September 24, 2010| Leave a Comment »

from The Sun

Deepwater drilling may be on hold in US waters, but that is not the case elsewhere.  However, drilling in other parts of the world is not free from political tension and intrigue. Of particular interest is a recent discovery well in 450m of water in the North Falkland Basin. From the Buenos Aires Herald:

As President Cristina Fernández de Kirchner prepares to address the UN General Assembly and renew the Argentine claim on the Malvinas Islands sovereignty, British explorer Rockhopper said its controversial oil discovery offshore the islands could have produced double the amount of oil had a test not been besieged by technical problems.

According to the Sun:

Analysts believe up to 60 BILLION barrels of oil lie in waters off the UK territory.

That estimate would seem to be a considerable stretch (to say the least), but will no doubt complicate the diplomatic challenge facing the UK and Argentina.

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