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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Updates about global exploration and production activities and developments. -
SOCAR’s expansion of its exploration footprint in Israeli waters could position Azerbaijan as a future player in EastMed gas.
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The latest deepwater exploration well offshore Namibia has found 38 m of net pay and flowed more than 11,000 BOPD of 37 °API oil during testing.
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The operator’s deepwater discovery in the Gulf of Mexico is potentially commercial, and government analysis indicates the gulf holds 1.3 billion BOE more reserves than estimated.
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The company credited its theory of shale oil enrichment for the significant increase in the quantity of proven reserves at the field.
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In the next 3 to 5 years, South America and the Middle East will lead global investment, driven by greenfield developments, exploration, and midstream infrastructure. Brazil’s growth is fueled by deepwater pre-salt projects, while the Middle East focuses on gas and LNG, especially in Qatar, Saudi Arabia, and the UAE.
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This is DNO's tenth significant find in the hotspot area offshore Norway.
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Discovery yields the largest hydrocarbon column to date in the Dussafu Marin license offshore Gabon.
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Technology and partnerships play a pivotal role in how the oil industry finds and produces energy from frontier regions and brownfields, both now and in the future.
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Kuwait Petroleum’s managing director of planning and finance said that more investment will be needed to keep Kuwait’s mature oil fields flowing while production is brought on stream.
