High-impact
New player MCF will drill two high-impact wells in Germany in Q1 2024. One will be a development well in the Lech area Bavaria, Germany. A previously drilled well at Lech flowed at rate of over 20 mmcf/d of gas. The other well will be in the Erlenwiese concession in the Rhine Graben in western Germany,
which is prospective for oil and gas at multiple stratigraphic levels.
120 applications
Hungary’s recent geothermal bid round received over 120 applications for licenses. CEEC members offer several geothermal farm-in opportunities. For more info contact us at contact@ceecsg.org
Drilling in Austria
ADX will be very active in Austria with two appraisal and development wells and two high impact gas exploration wells. The high-impact Welchau well targets a structure covering over 100 square km and could contain 807 BCF of gas.
Helium and hydrogen
Pioneer in exploring for helium and natural hydrogen in Europe, 45-8 ENERGY operates two exploration licenses for helium and related resources, in the Nièvre and Doubs regions respectively, one of which will go into pilot production in 2024. 45-8 ENERGY has obtained several exploration and production permits, in particular in France, Germany and Kosovo.
Albania
Energy Development Group, who hosted the CEEC meeting in Tirana, is working on redeveloping the Delvina, Frankulla and Povelca gas fields
in Albania with 3D seismic and drilling planned for 2024. In addition, both ENI and Shell have ongoing deep exploration programs in the country.
Europe’s largest yet-to-be tested Permian structure
Central European Petroleum (CEP) is planning to drill its Wolin Project offshore Poland in the Baltic Sea, following acquisition of new 3D seismic data. The Upper Permian (Zechstein) Main Dolomite reservoir, developed in shallow-water facies, will be targeted by two new wells – Wolin West 1 and Wolin East 1. Wolin forms the Europe’s largest yet-to-be tested Permian-age structure with potential of >300 MMboe.
Potential deals
Romania is the only country in the region that is not covered with long-offset 2D lines. Therefore, it looks like a good place for a contrarian investor to search for deals.
Successful exploration
Despite the dire situation in Ukraine, Naftogas drilled 28 exploration and appraisal wells in the Dnieper Donets Basin so far this year, in addition to redeveloping old assets. As an example, two wells were drilled on a field that was discovered 40 years ago, with combined flow rates of 15.2 MMcf/day of
gas per day and an expected peak of over 32,000 boepd in 2025.
Play extension
Anticipating an extension of the large discoveries in Turkish waters, Bulgaria announced the launch of a tender for an oil and gas prospecting and
exploration permit in Block 1-26 Khan Tervel, in the Black Sea. The project envisages conducting 3D seismic surveys, preparing a geological model to identify prospective drilling sites, assessing petroleum potential and drilling an exploratory well.
Neptun Deep
A real highlight from the region is OMV’s announcement of the final investment decision for natural gas deep-water project Neptun Deep in Romania’s Black Sea. Neptun Deep will be one of the largest natural gas projects in the European Union. First production is expected in 2027 and plateau production is estimated at ~140,000 boe/day for 10 years. Planned project investment totalling up to EUR 4 bn.
