Eni

The Italian operator reported positive appraisal and exploration results from wells drilled some 10,000 km apart.

Early production from Area 1 is the first output from an international operator in Mexico since energy reforms were implemented earlier this decade.

The Agidigbo find follows the Kalimba, Afoxé, Agogo, and Ndungu discoveries. The five discoveries combined hold an estimated 1.8 billion bbl of light oil in place.

A final investment decision is expected later this year on the project, which will involve the construction of two trains with a combined annual capacity of more than 15 mtpa of LNG.

Decommissioning and abandonment comes with its share of unexpected surprises, but many of those surprises could be avoided merely through better planning and care.

Conventional oil and gas discovered resources in 2019 are on pace to rise 30% from last year and reach their highest level since the beginning of the industry downturn. Here, a recap of the first quarter's 15 biggest oil and gas discoveries, which altogether are propelling the increase.

By racking up exploration agreements in the United Arab Emirates, Oman, and Bahrain, Eni took a big step forward in its pledge to tap into the Middle East’s vast swaths of highly prospective oil and gas acreage.

DNV estimates that gas will be the world’s primary energy source by the mid-2020s. Growth in LNG capacity is expected as the midstream sector invests in connecting shifting sources of gas with changing demand centers. Other factors also will drive the globalization of gas trading markets.

Eni plans to buy a portion of BP’s interest in Libya’s Ghadames and Sirt Basins in an effort to relaunch exploration activity there next year.

The ceremonial event took place at Geoje Island, South Korea. Startup of LNG production in offshore Mozambique’s Area 4 is expected in 2022.