Exploration/discoveries
Of the total approved by ADNOC’s board, $50 billion will be invested in Canada under a framework agreement targeting projects in AI, energy, and mining.
Westwood Energy analysts suggest operators have an opportunity to secure rigs at lower rates for their 2027 drilling programs.
The Essington-1 well is the first discovery in the Otway since 2021.
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The Cengkih discovery will likely be tied back to the nearby Pegaga field. -
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.
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The French operator plans to drill the first exploration well on an onshore tract during 2023.
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The next drilling target will look for reserves in three different plays in Louisiana.
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Petrobras will continue to operate the assets following the selldown of working interest.
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The US supermajor has made more than 30 discoveries offshore the South American country since exploration efforts began in 2015.
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Whether its onshore or offshore, China is OK with drilling deeper to secure new gas reserves.
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Success at Ofelia sets up another tieback development to the nearby Gjøa platform.
