Suriname

Saipem has launched offshore operations in Suriname, while Repsol is expanding exploration efforts in Venezuela and partnering with MOL Group and TPAO in the Mediterranean. Petronas, Shell, and Murphy Oil reported new discoveries in Suriname, Namibia, and Côte d’Ivoire, respectively, as Occidental acquired a stake offshore Trinidad and Tobago and BP began gas producti…

Agreements create long-term frameworks to advance offshore Suriname developments, aiming to streamline project delivery, reduce costs, and accelerate field development through early integration across the project life cycle.

Big projects are expected to add oil and gas to the energy mix in some regions while maturing basins contribute to drops in other areas.

Updates about global exploration and production activities and developments.

Updates about global exploration and production activities and developments.

Welligence projects explorers are targeting 50 billion BOE in the near term, with about 20% of that being gas.

In the next 3 to 5 years, South America and the Middle East will lead global investment, driven by greenfield developments, exploration, and midstream infrastructure. Brazil’s growth is fueled by deepwater pre-salt projects, while the Middle East focuses on gas and LNG, especially in Qatar, Saudi Arabia, and the UAE.

Operator also announces plans to deploy continuous, real-time detection equipment at all its operated upstream sites, including GranMorgu, by the end of 2025.

The $10.5 billion deepwater project is expected to start production in 2028 as the country’s first offshore development.

A newbuild Fast4Ward hull will be used as part of the Block 58 development set for FID prior to year-end.