exploration

Compared with 2020, the largest discoveries made last year may hold just a third of the oil and gas reserves, according to new data from Westwood Global Energy Group.

Drilling is set to take place near the location where the Toyko-based energy company said it encountered a gas reservoir in a 2016 project.

Applications will now be reviewed, and licenses will be awarded sometime in 2022.

The Mexican state oil company believes it has found a new oil field on par with past billion-bbl finds.

Exploration commitments are expected to dwindle in the current market environment.

This paper demonstrates how maintaining investment in high-quality 3D seismic during the last downturn, together with selective exploration, quality geoscience, application of new technologies, and efficiently maturing discoveries to early cash flow, was successful in sustaining future production.

A significant discovery of oil off Suriname increases the odds that major oilfields off Guyana will extend across that international boundary.

The depth of the world’s offshore projects has steadily increased over the past 30 years—and so has its production base. The growth trend will continue thanks to new fields offshore Brazil, Guyana, and the US.

The confluence of alternative energies, shifting public sentiment, and the industry’s own improvements to existing fields may upend the industry’s “engine of growth.”

The chief upstream strategist of IHS Markit said in a recent presentation that oil exploration must improve its ability to deliver value and better communicate that value to the financial community. New ways of thinking about exploration opportunities are needed.