Our main areas of expertize are Indonesia and Malaysia where there are some of the most active areas of offshore exploration in the world.
Aivum Energy Group’s number of discoveries have been slowly increasing in this region with exploration success rates above average. The discovery sizes however are reducing: average field recoverable size: 5-10 MMbbl for oil fields; 5-20MMboe for gas fields with gas being slightly more prominent.
Many companies are finding the costs for discovery rising faster than elsewhere but due to Aivum Energy Group’s team having extensive knowledge of the region and its people it gives them a competitive edge over other companies that specialize in other regions. While many companies are finding exploration in Southeast Asia unprofitable because of its size and complex politics, Aivum Energy Group does not, which in no small part is to how we use the latest technology to achieve the best results.
Over the last 5 years Aivum Energy Group has delivered various material discoveries around the region in both “Frontier” and new plays in “Mature” areas. These results have shown that compelling exploration potential remains in both the accessible areas and also in areas currently preserved due to boundary disputes.
Aivum Energy Group have already identified many exciting plays that will be drilled and tested over the next few years, we are excited about the prospects and believe there is no reason that this positive outlook will not continue into the foreseeable future.
Aivum Energy Group has completed some projects over a 3,000 sq. km area onshore in the northern part of the country and is currently carrying out several more exploration projects over a similar area and believe that a frontier oil and gas region could well be emerging.
The completed exploration and studies have revealed geoscience datasets that identified various indicators of a hydrocarbon system. Considering that to date there has only ever been seven wells actually drilled in Lebanon we believe that further exploration will give rise to more discoveries that could prove to be huge.
Mexico has this year opened its doors to Oil and Gas companies outside of Mexico for the first time in 80 years. Many of the world’s largest companies like Shell and Chevron have already declared and interest, Aivum Energy Group has also expressed their interest in bidding. The process of accepting bids is currently in progress and we expect to have news in the first quarter of 2016.
Venezuela has low risk geology and is relatively easy to develop. Aivum Energy Group currently holds licenses to explore and develop 2 blocks in the Orinoco Belt in central Venezuela which it has been exploring since January 2015. Early estimates say the total region contains an estimated 235 billion barrels of extra heavy crude oil. Aivum Energy Group believes their blocks in Boyaca to hold an estimated 38 billion barrels. Production is due to start early in 2016.
East Africa currently finds itself in the midst of an astounding energy boom that Aivum Energy Group believe is likely to last decades, and is a sign of the region’s growing standing.
Aivum Energy Group is predicting big things for East Africa and aims to be at the forefront of these new discoveries with the new technology that it currently possesses and the emerging technology that is currently being tested by its geophysics and geoscience departments.
The last 5 years have also seen meaningful oil and gas discoveries in Tanzania, Uganda and Mozambique. Aivum Energy Group is currently assessing which country will be most suited to its exploration techniques and will apply for the appropriate licenses once the right country/countries have been assessed (the current expectation among the exploration team is that all countries will at some point be explored).
Oil was discovered in Kenya for the first time in 2012. Aivum Energy Group is currently in the process of obtaining exploration licenses to carry out its first foray into exploration in Kenya and is supremely confident that through its innovative approach it will discover new plays and additional ways of finding oil and gas.