Asset/portfolio management
The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
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.
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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Global majors remain committed to boosting investment in Egypt’s offshore gas production as they eye Cairo’s underutilized LNG capacity. -
Pacific Meltem and Pacific Scirocco will be sold out of the marketed fleet; Noble posts over $2 billion in fresh contract backlog.
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SOCAR’s expansion of its exploration footprint in Israeli waters could position Azerbaijan as a future player in EastMed gas.
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The new plan will replace the current roadmap that contains just three planned Gulf of Mexico lease sales.
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Stonepeak will pay $5.7 billion for 40% interest in the project due for FID later this year.
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The acquisition expands INEOS’s US upstream footprint and gives it a minority stake in a pair of deepwater Gulf of Mexico producing fields.
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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.
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The $1.65 billion deal adds to Vitol’s presence in the West African upstream while enabling Eni to cash out early on the value of some assets while retaining an interest in future revenues.
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The combined group will be renamed NEO NEXT Energy and is expected to become one of the largest independent producers in the North Sea.
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The $206 million deal for the fields offshore Trinidad and Tobago is expected to close in the third quarter of 2025.
