Appraisal wells to watch: Deepwater drilling remains pivotal in H2 2023 Report

Insight 14 September 2023

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Report summary

Over 60 appraisal wells were completed in H1 2023 globally. H2 2023 will see at least 80 new appraisal wells, with an additional 50+ planned for H1 2024. Throughout 2023 and into H1 2024, the balance between oil and gas appraisal wells stays steady. IOCs are operating at least 60% of the H2 2023 appraisal wells. The nine key appraisal wells on our radar in this half are being drilled across the Americas, Africa, Southern Europe and South East Asia. Six of these are deepwater wells, four of which are Major-operated. Moving into H1 2024, IOC-operated wells increase to 80%. Thirteen crucial wells will be drilled in the Americas, Southern Europe, South East Asia, Russia and the Caspian. The majority of these will be onshore or in shallow water. In this edition, we take you through a detailed look at our selection of wells, their significance, and subsurface information about their drilling locations and targets.