Exploration/discoveries
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.
After acquiring the block more than a decade ago, Petrobras has finally found oil in the deepwater area of the Equatorial Margin with the Morpho-1 exploration well.
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The proposed joint venture aligns with Eni's satellite model strategy to create entities that manage operations and access capital markets separately from the parent company. -
The operator plans to acquire seismic and carry out appraisal drilling at the site later this year; the find could be fast-tracked as a tieback to the Goliat FPSO.
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Updates about global exploration and production activities and developments.
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Updates about global exploration and production activities and developments.
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International majors showing new interest in Iraq as China scoops blocks in Baghdad’s most recent bid rounds.
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By boosting gas supplies to Egypt’s home market, Cairo can return its focus to developing an LNG export hub.
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Of the 53 licenses awarded, 33 are in the North Sea, 19 in the Norwegian Sea, and one in the Barents Sea.
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The money will aid the partnership of Equinor and Standard Lithium in constructing a processing plant, which, in its first phase, is targeted to produce 22,500 tonnes of lithium carbonate per year for use in battery production.
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Rystad Energy and Wood Mackenzie highlight key factors shaping the balancing act in the upstream oil market.
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The Libyan National Oil Company plans to tender 22 onshore/offshore exploration blocks in 2025 as it works to rebuild credibility with foreign oil producers.
