South America

Argentina’s President Javier Milei met with TotalEnergies CEO Patrick Pouyanné and Eni CEO Claudio Descalzi in Paris to discuss Argentina’s energy sector, including projects linked to the Vaca Muerta shale formation and the development of the Argentina LNG export project.

TotalEnergies has signaled its intent to reenter Venezuela after a 5-year absence, while Halliburton has teamed up with Brazil’s independent natural gas operator Evena and Venezuelan engineering firm WESCA to also assess business opportunities.

The supermajor expects output to double to about 600,000 B/D as a result of a new agreement with one of its joint ventures in Venezuela.

Brownfield redevelopment and new exploration projects could lift Venezuelan output above 2 million B/D by next decade.

With a strong presence across US shale in the Bakken, Anadarko Basin, Powder River Basin, and the Permian, Continental Resources is expanding into Argentina’s Vaca Muerta shale as the privately held E&P giant pursues international growth.

After launching pre-salt production in Brazil, the ultradeepwater Tupi asset has become one of Petrobras’s most productive.

The Loran Phase 2 license award builds on BP’s growing presence in Venezuela as it seeks to develop offshore projects, particularly shared fields near Venezuela’s maritime border with Trinidad and Tobago.

After acquiring the block more than a decade ago, Petrobras has finally found oil in the deepwater area of the Equatorial Margin with the Morpho-1 exploration well.

This case study describes how edge computing and industrial internet of things platforms were deployed to automate and optimize production operations across four distinct basins.

Ultradeepwater prospects along the northern coast of Brazil could help offset decline in legacy basins, though permitting hurdles remain a wild card.