Asset/portfolio management
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.
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.
The combined group will be renamed NEO NEXT Energy and is expected to become one of the largest independent producers in the North Sea.
-
The Midland, Texas-based operator said the deal hands it the biggest remaining target in the Midland Basin side of the Permian Basin. -
Equinor will reduce investments in renewables over the next 2 years by 50% to $5 billion and will increase its focus on oil and gas production, expecting more than 10% growth from 2024 to 2027.
-
Diversified Energy announces its largest deal yet to buy private equity-owned Maverick Natural Resources.
-
International majors showing new interest in Iraq as China scoops blocks in Baghdad’s most recent bid rounds.
-
Of the 53 licenses awarded, 33 are in the North Sea, 19 in the Norwegian Sea, and one in the Barents Sea.
-
As Southeast Asia’s third-largest gas producer, PTTEP is investing in its energy security by prioritizing gas production and building up a global LNG supply chain.
-
Canadian operator expands its Deep Basin gas footprint in Alberta, adding 700 new drilling locations.
-
Arcius’ remit covers the Shorouk concession, home to the Zohr gas field whose production decline has been fueled by a lack of investment.
-
The acquisition will add water infrastructure in both the Midland Basin of west Texas and the Williston in North Dakota.
-
The environmental impact statement is a required step before another lease sale can be held in the Gulf of Mexico, a move welcomed by the oil and gas industry.
