greenfields
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A new report from Rystad Energy expects more than $200 billion will flow into greenfield offshore projects over the next 2 years. -
Wood Mackenzie said "advantaged barrels" that are cheap to extract and with low emissions represent less than a third of untapped resources.
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The decision to spend more than $700 million comes 4 years after the French giant shelved the project amid low oil and gas prices.
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The contractor will finalize the chosen FPSO solution for the development in the Campos Basin pre-salt off Brazil.
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Johan Castberg is the biggest oil field to ever be discovered in the Barents Sea, but a constellation of satellite fields are likely needed to keep the development afloat.
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Shell’s revised Jackdaw development plan has been approved by regulators who had rejected its original plan last year.
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The Houston-based exploration company will work with the Abu Dhabi National Oil Company if it strikes big in the vast onshore block.
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The national oil company’s remote northern region has delivered a pair of greenfields that await further drilling before a reserves estimate can be made.
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Seeking to become an energy producer, the Middle Eastern country is exploring for natural gas in the Black Sea and the Eastern Mediterranean Sea.
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Rystad Energy's analysis shows the decline is in contrast to $170 billion worth of tenders awarded in 2019. Tender activity is expected to show marginal recovery in 2021, reaching about $74 billion.
