Exploration/discoveries
In Asia, Valeura Energy and PTTEP advanced a Gulf of Thailand gas project, while Murphy Oil and Seadrill moved forward with projects in Vietnam, Indonesia, and Malaysia. In the Americas, Perenco, Petrobras, and Equinor advanced projects in Brazil, Canada, and elsewhere. Other developments included updates from Equinor, Serica Energy, BW Energy, and Sharjah National Oi…
Industry forecasts point to increasing upstream expenditure and production, even as geopolitical volatility and smaller discoveries challenge project economics.
The Society’s archive of technical papers, maps, figures, and geological data sets will be integrated into the GIX platform, enabling geoscientists to query AI agents about exploration opportunities within specific geographic regions while combining historical research with public data, proprietary information, and advanced analytics.
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Abu Dhabi will conduct its first-ever competitive tender for international partners to explore and develop oil and gas blocks onshore and offshore. -
A new report from Oil & Gas UK explains how the UK North Sea is showing signs of life, but warns that new exploration investment will be necessary to avoid another production downturn.
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The chief upstream strategist of IHS Markit said in a recent presentation that oil exploration must improve its ability to deliver value and better communicate that value to the financial community. New ways of thinking about exploration opportunities are needed.
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Later this month, Mexico will auction off 35 shallow-water blocks in the Gulf of Mexico, as its attempt to revive its oil and gas industry moves forward.
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Mexico’s Round 2.4 deepwater auction surpassed expectations as 19 of 29 blocks were awarded to 11 firms from 10 countries.
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Despite an abundance of discovered resources, most companies are still running at unsustainable reserves replacement levels, necessitating further investment in exploration of conventional and unconventional reservoirs.
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BP announced two North Sea discoveries, adding to signs of a revival in play that was looking old, tired, and overpriced a couple years ago.
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Mexico’s Round 2.4 deepwater auction surpassed expectations as 19 of 29 blocks were awarded to 11 firms from 10 countries.
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The largest Gulf of Mexico lease sale in history is designed to jump-start offshore activity.
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The Mexican government continues to update its environmental regulations as authorities prepare for the first exploration and production (E&P) auction to feature blocks with unconventional oil and natural gas resources.
