Asset/portfolio management
As the pace of new discoveries slows and high-quality prospects become harder to find, oil companies may need to rely more heavily on mature fields to maintain production and support future supply.
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.
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Hungary’s MOL Group captures a major project within the EU and its largest upstream opportunity since it farmed into in Azerbaijan’s ACG offshore field. -
As the company works to realign its portfolio, it puts its North Sea assets in the crosshairs.
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The transaction broadens the company's North Sea footprint with long-life assets that boost production and reserves.
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The deal adds over 1,000 potential drilling locations and almost doubles oil production for Houston-based Magnolia.
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The deal is the largest acquisition in Mitsubishi Corp.'s history and adds one of North America's leading shale gas assets to its portfolio.
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The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
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The next wave of unconventional growth will likely come from basins in Argentina, the Middle East, Australia, and elsewhere, fueled by expertise gained from shale plays in North America.
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The $5.1 billion ultradeepwater project is Angola’s first integrated cross-block development and sits at the top of Azule’s Southern African portfolio.
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ExxonMobil and QatarEnergy’s MoU with Cairo to monetize Cyprus’ offshore Glaucus and Pegasus natural gas supports Egypt’s strategy to become the Eastern Mediterranean’s leading gas processing and LNG export hub.
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Still flowing nearly 40 years after startup, Gullfaks recently delivered its 5,000th cargo of sweet, low-sulfur crude to Sweden, underscoring how Equinor’s aging shelf assets continue to support Europe’s energy supply.
