Exploration/discoveries
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.
The Göktepe-3 discovery boosts Turkey’s gas reserve estimates by 10%, supporting Ankara’s ambitions to become a regional gas export hub.
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The partners will explore Block 2K, an ultradeepwater block off Sabah. -
The find is part of the Angola Block 15 redevelopment project expected to deliver around 40,000 B/D of additional production.
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An Equinor-led partnership to test prospect northeast of Visund.
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Operators seek deepwater reserves on the Mexican side of the Gulf of Mexico.
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A second well, Curaçao, also encountered commercial oil volumes in the Santos Basin.
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By 2030, deepwater production is expected to rise 60%, but after that, reduced leasing and exploration could limit this small slice of the sector.
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The Cengkih discovery will likely be tied back to the nearby Pegaga field.
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The awards are part of the third and fifth bidding rounds launched last year.
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Additional wells are planned for the GOM field in 2023 and 2024.
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The government is targeting a “fairer share” of the revenues from oil and gas developments.
