bidding round

Petronas has become the first global energy company to own and operate two floating LNG production facilities. The PFLNG DUA loaded its first shipment on an LNG carrier bound for Thailand. Petronas is also stepping up promotion of its 2021 licensing round for new fields.

More than 30 oil and gas companies took part in the licensing round, which focused on mature areas that can be developed using existing infrastructure.

Regionwide US Gulf of Mexico (GOM) Lease Sale 256 generated $120,868,274 in high bids for 93 tracts in federal waters. The sale on 18 November featured 14,862 unleased blocks covering 121,875 square miles.

Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.

The second round will offer 19 offshore blocks clustered in five zones to continue natural gas development in the eastern Mediterranean’s Levant Basin.

Israel is launching a new offshore bid round for gas-bearing blocks in the Eastern Mediterranean.

Abu Dhabi will conduct its first-ever competitive tender for international partners to explore and develop oil and gas blocks onshore and offshore.

OTC panelists were excited at the potential of deepwater exploration offshore Mexico and believe that opportunities there could eventually drive a big new wave of activity.

India will test whether it can reach its ambitious goal of reducing oil and gas imports by 10% by 2022 with an upcoming auction of oil properties.

To meet its projected oil demand in 2040, Mexico must see about USD 30 billion/year in upstream investment. BHP Billiton’s contract signing with Pemex represents a step in the needed direction.