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.
-
Well is estimated to have encountered as much as 35 million BOE. -
Program will focus on finding more resources around Goliat and Johan Castberg through 2026.
-
The current program comprises six planned wells.
-
Rig will continue to work offshore India.
-
Gas reserves will prove an important feedstock for Atlantic LNG facilities.
-
Pair joins other E&Ps who have halted work in the area after disappointing results.
-
While many expect oil and natural gas to retain their roles in the energy mix of 2050, the more significant question should not only be on how much oil and gas will be needed but from where the world will find it.
-
Project consists of two production wells and a subsea tieback to ETAP.
-
The Biden Administration plans for a maximum of three lease sales in the Gulf of Mexico from 2024 to 2029.
-
Consortiums led by ExxonMobil, TotalEnergies lead the charge into the blocks offered in the oft-delayed offshore parcel auction.
