Exploration/discoveries
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.
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.
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.
-
Murphy Oil’s Hai Su Vang (Golden Sea Lion) appraisal well reinforces the commerciality of the 2025 discovery. -
Updates about global exploration and production activities and developments.
-
Only about one-third of Africa’s discovered hydrocarbon resources have reached commercialization.
-
The Nigerian Upstream Petroleum Regulatory Commission has set its sights on anticorruption efforts for the 2025 Licensing Round, which began on 1 December.
-
The discovery in the Kutei Basin offshore Indonesia is being considered for fast-track development.
-
Deepwater blocks drew most of the attention in the first lease sale for the offshore region to be held in 2 years.
-
Preliminary estimates indicated recoverables of between 30 million and 110 million BOE at the discoveries, which Equinor called its largest of the year.
-
Data and impartial viewpoints can help de-risk exploration portfolios and keep resource estimates in check.
-
Updates about global exploration and production activities and developments.
-
Alaskan oil is entering a renaissance driven by a predicted 13% upswing in 2026 production, the largest since the 1980s, and a possible reboot of LNG exports to Asia from the Kenai Peninsula, supplied via pipeline from the North Slope.
