Technology and Digitalization: Our Drilling String
We have cognate samples from many of our oil fields with a huge upside potential. A functioning earth science play will sometimes deliver important discoveries with standalone development potentials and digitalization strides. We call them growth discoveries and technological innovation at Philux. We believe in the future of digitalization which is either self-automation or IT-driven.
We have cutting edge technologies and digital tools that are 21st Century compliant. We hope to be the operator of one of the three biggest oil fields on the American, European and African sea beds with expected resources of between one quarter billion barrels of oil equivalent. During the recent years, we have focused on identifying and testing impact opportunities, i.e. prospects with substantial volumes and upside potential. This strategy has been projected to become highly successful and capable of resulting in 25 high impact oil discoveries in the United Kingdom, Norway, East Coast Canada, Nigeria, Sao Tome and Principe and Kuwait. Persistency has always paid off for us at Philux Energy. We have an automated energy solution streak with an undying spirit of corporate excellence.
During the ranking process, we not only assess our prospects on a one-off basis, but look for follow-up potential.
We prioritize opportunities that could open a new geological play, i.e. bring forth a group of prospects in the same area that are controlled by the same set of geological circumstances.
Such opportunities are very attractive as they can provide the basis for further organic growth.
Our past discoveries have birthed brand new oil plays within the sea with follow- up revelations which together provided the resource base for our optimal oil performance and oil field developments. In a similar vein, many of our new discoveries in Africa opened a new play leading to a series of high impact discoveries in our new fields.