Proven geological reserves are estimated at more than 1 billion tonnes shale oil, Xinhua reported June 20.
The latest preliminary estimates from exploratory wells showed volumes between 60 million and 135 million barrels of recoverable oil equivalents, Vaar said in a statement.
The company said June 9 the Longtail-3 well encountered 230 ft of net pay, but Koebi-1 was deemed non-commercial.
Turkey has discovered 135 billion cubic meters (Bcm) of additional natural gas in the southern Black Sea, President Tayyip Erdogan said on June 4, raising the total discovery in the region to 540 Bcm.
Talos Energy Inc. has successfully discovered pay in its Tornado 3 sidetrack well (Tornado Attic) located in the U.S. Gulf of Mexico, the company said on June 3. Talos holds a 65.0% working interest in the Tornado field and is the operator with Kosmos Energy also holding a 35% working interest.
The discovery is estimated to hold between 33-70 million barrels of oil equivalent, Wintershall Dea said.
The well encountered gas in the Oligocene to Middle Miocene sandstone reservoirs, which had not been fully evaluated before, the company said.
The Leopard well hit more than 600 ft of net oil pay at multiple levels, Shell said.
The find pushes the estimated amount of discovered recoverable resources on the Stabroek Block offshore Guyana beyond 9 billion barrels of oil equivalent, Exxon Mobil and partners say.
The discovery, deemed commercial by the Norwegian major, is believed to hold estimated recoverable resources of between 19 and 26 million barrels of oil equivalent.