Exploration/discoveries
The country’s foreign investment bid comes as Sonatrach launches its largest capital expenditure outlay—$60 billion to be spent from 2026 to 2030.
Co-owner Chevron confirmed the find at the Bandit prospect offshore Louisiana and suggested it may become a subsea tieback to existing faciltiies operated by Occidental Petroleum.
The Orange Basin and Gulf of Guinea will see most of the high-impact drilling activity planned this year in Africa.
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Two new wells will add 20,000 BOED to the field’s overall production volumes. -
A total of 59 blocks were awarded to 13 companies.
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First well suffered mechanical issues, while the followup encountered noncommercial quantities of oil.
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The well is in the Orange Basin where Shell and TotalEnergies made significant oil finds on the Namibia side.
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New discoveries in the Meleiha concession add 8,500 BOE to production.
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Oil find will be tied into existing infrastructure for development.
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The three US lease auctions were the last planned under the current 5-year federal leasing plan.
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The Glaucus-2 well confirms the existence of a multi-TCF gas field.
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Satellite discovery will likely be tied back to one of the Troll platforms.
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Dry hole dampens spirits in Brazil’s Sergipe-Alagoas Basin.
