greenfields

The amount of oil and gas resources approved for development last year surpassed 20 billion BOE, the highest level seen since 2011. Telltale signs have emerged that we are entering a new offshore investment cycle.

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

The Arab world’s most populous country has awarded a string of concessions in a bid to become the region’s next major supplier of natural gas.

The Quesqui field is expected to be the biggest onshore find in Mexico since 1987.

A fresh wave of offshore project sanctions across Southeast Asia could boost greenfield investments in the oilfield service space by almost 70% in 2020. The growth will be driven by a handful of new megaprojects across Malaysia, Myanmar, and Vietnam, according to recent project commitments.

The Caribbean nation hopes the auction will lead to at least two exploration projects in a region that has become increasingly attractive thanks to new discoveries and investments made in neighboring countries.

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.”

This new development is the first to recover commercial quantities of oil in the UK from reservoirs that are generally considered non-productive.

The explorer has so far encountered 400 ft of reservoir pay zone in an area where it has three other producing fields.

DEA Deutsche Erdoel is buying Sierra Oil & Gas, giving the German operator stakes in six new blocks off Mexico—including the Zama discovery, where appraisal drilling is now under way.