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 confluence of alternative energies, shifting public sentiment, and the industry’s own improvements to existing fields may upend the industry’s “engine of growth.” -
This new development is the first to recover commercial quantities of oil in the UK from reservoirs that are generally considered non-productive.
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Schlumberger introduced the GAIA digital exploration platform, which it says enables exploration teams to rapidly discover and access basin-scale data and manage their exploration opportunities.
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The explorer has so far encountered 400 ft of reservoir pay zone in an area where it has three other producing fields.
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The discovery is world’s third-largest natural gas discovery in the past 2 years.
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A Florida appeals court has approved exploratory oil drilling in the Everglades, prompting worries about Miami’s water supply and risks to the wetland ecosystem.
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The second round will offer 19 offshore blocks clustered in five zones to continue natural gas development in the eastern Mediterranean’s Levant Basin.
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The national oil company’s aim to lift oil and gas production and reserves over the next few years will rely on growth from big international projects, including those in Nigeria, Guyana, and the US.
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In need of an exploration boost, Norway doled out a record 83 production licenses in mature areas of the Norwegian Continental Shelf to 33 firms.
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By racking up exploration agreements in the United Arab Emirates, Oman, and Bahrain, Eni took a big step forward in its pledge to tap into the Middle East’s vast swaths of highly prospective oil and gas acreage.
