INSUBCONTINENT EXCLUSIVE:
exploration.The company announced this decision in a trading update preceding its fourth-quarter results due on January 30, 2025
Shell, along with partners QatarEnergy and NAMCOR, made the initial discovery in block PEL39 in 2022.This find sparked global interest in
Over three years, Shell drilled nine wells in the licensed areas, making several discoveries.However, the company faced significant
technical and geological challenges
CEO Wael Sawan cited low rock permeability as a major obstacle to oil and gas extraction.High natural gas content in the discoveries further
complicated development efforts
Portuguese oil company Galp recently made a significant discovery in a different offshore license.TotalEnergies maintains active exploration
efforts, planning a final investment decision by 2025
The government continues to support oil sector investments.This development highlights the complex nature of oil exploration
Even promising discoveries can face unforeseen challenges
Future technological advances may unlock resources currently deemed unviable.
