Exploration/discoveries
Supermajor aims to start appraisal activities in 2027 and is evaluating development possibilities for the deepwater find offshore Brazil, which is the company’s largest discovery in 25 years.
Updates about global exploration and production activities and developments.
BP’s most recent discovery in Namibia is the eleventh globally in 2025 since the UK major refocused its investments strategy back to its core oil and gas businesses.
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New terms would allow contractors more than 50% equity share in some new blocks. -
BP, QatarEnergy and Zarubezhneft were among the other winners.
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A drop in the number of wells drilled on the UK Continental Slope is concerning as many fields in the mature basin are reaching the point of production cessation.
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Gas reserves will prove an important feedstock for Atlantic LNG facilities.
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While many expect oil and natural gas to retain their roles in the energy mix of 2050, the more significant question should not only be on how much oil and gas will be needed but from where the world will find it.
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Output from the field is expected to return to pre-shut down levels this summer.
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Well is estimated to have encountered as much as 35 million BOE.
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Program will focus on finding more resources around Goliat and Johan Castberg through 2026.
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The current program comprises six planned wells.
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Rig will continue to work offshore India.
