Exploration/discoveries
Oil and gas companies drilled 75 “high-impact” wells in 2024, representing 5.2 billion BOE.
The $2.9 billion Shah Deniz Compression project, expected online in 2029, will enable additional production of around 50 Bcm of gas and 25 million bbl of condensate.
Updates about global exploration and production activities and developments.
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The Göktepe-3 discovery boosts Turkey’s gas reserve estimates by 10%, supporting Ankara’s ambitions to become a regional gas export hub. -
The new policy aims to accelerate the leasing timeline and expand access to public lands.
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The contracts build on Cairo’s decades-long strategic energy alliance with Moscow, which will soon include nuclear energy.
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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.
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EVP Giulia Chierchia and Chairman Helge Lund are stepping down amidst difficult Q1.
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Updates about global exploration and production activities and developments.
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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 latest deepwater exploration well offshore Namibia has found 38 m of net pay and flowed more than 11,000 BOPD of 37 °API oil during testing.
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The operator’s deepwater discovery in the Gulf of Mexico is potentially commercial, and government analysis indicates the gulf holds 1.3 billion BOE more reserves than estimated.
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The company credited its theory of shale oil enrichment for the significant increase in the quantity of proven reserves at the field.
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