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 Italian oil and gas company has found its second big well offshore Mexico and is setting its sights on several more in the near future. -
The most recent hydrocarbon production boom is under way in the Middle East, and this time, the race is spilling into offshore waters.
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Guyana continues to strengthen its reputation as the world’s fastest growing offshore exploration hotspot.
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The Italian oil and gas company used a “fast track” model to get the first production well flowing from the Agogo field.
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A significant discovery of oil off Suriname increases the odds that major oilfields off Guyana will extend across that international boundary.
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The Arab world’s most populous country has awarded a string of concessions in a bid to become the region’s next major supplier of natural gas.
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Under the agreement, the Oklahoma City independent will monetize half of its working interest in 133 undrilled locations in the form of a $100-million drilling carry during the next 4 years.
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The Quesqui field is expected to be the biggest onshore find in Mexico since 1987.
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Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.
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The Caribbean nation hopes the auction will lead to at least two exploration projects in a region that has become increasingly attractive thanks to new discoveries and investments made in neighboring countries.
