Exploration/discoveries
The agreement follows the discovery of 724 million BOE in unconventional oil and gas reserves in November.
Westwood links 2026 exploration outcomes to policies, with operators offshore Norway finding seven times more resources than those offshore the UK.
The Granat prospect on the Norwegian Continental Shelf may be developed with a subsea tieback to existing infrastructure.
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Both finds will be tied back to the nearby Ram-Powell TLP. -
The deal marks the biggest injection into Libya's flagging oil and gas industry in 2 decades, but not everyone in the ruling government is on board.
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Novatek is reporting a 6.3% jump in 2022 LNG exports, driven by Europe which has shunned Russian pipeline gas while increasing its purchases of Russian LNG.
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Chevron is "encouraged and excited" after drilling its first successful exploration well in the Eastern Mediterranean block.
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Malaysia plans to launch its 2023 bid round in Q1, hoping to exceed last year’s completion of 18 exploration wells that boasted a 60% success rate in new offshore hydrocarbon discoveries.
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The well is the operator’s third discovery over the past 6 months in the region.
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Northern Nigerian prospect could hold a billion barrels of resource.
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Appraisal drilling at Block 58’s Sapakara South find is underway.
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Two unconventional gas reservoirs were found underlying existing producing fields.
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The four blocks on offer could contain around 4 billion bbl of oil.
