Business/economics
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.
The world produces vast volumes of carbon dioxide, and CO₂-EOR is one of the best-established techniques for increasing oil production. Despite this, its use remains limited because of economic, logistical, and operational challenges.
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Oil prices are high, but spending has not caught up—yet. Meanwhile, exploration strategies are changing around the world toward a lower-risk model, and the frenzied pace of US M&A has very much cooled off. -
This paper illustrates a case study from a greenfield oil development in Sarawak that is planned for a fit-for-purpose development scope to create value and develop oil resources in a phased manner within 4 years of project framing.
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This paper aims to optimize well trajectories in offshore reservoir development by applying a Pareto-based multiobjective approach.
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This paper presents a reduced physics-based model that accelerates the ability to screen infill-location optimization, using the fast marching method to maximize production for a reservoir with multiple realizations.
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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.
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Equinor, Aker BP, and Vår Energi will combine resources and expertise to pursue some of the largest remaining exploration opportunities on the Norwegian Continental Shelf.
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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.
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Gran Tierra will refocus its investment strategy to strengthen its portfolio in Canada and Azerbaijan while Maurel & Prom, majority owned by Pertamina’s international upstream arm, grows its South American footprint in Colombia and Ecuador.
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ExxonMobil’s Letter of Intent to begin preliminary engineering and procurement work for Mozambique’s Rovuma LNG project bridges the development to a final EPC contract, which Area 4 partners are expected to award following an FID anticipated by year-end 2026.
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Sixteen companies submitted 69 bids worth $99.5 million in the Big Beautiful Gulf 3 sale.
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