Exploration/discoveries
GranTierra 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.
Sixteen companies submitted 69 bids worth $99.5 million in the Big Beautiful Gulf 3 sale.
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The most recent hydrocarbon production boom is under way in the Middle East, and this time, the race is spilling into offshore waters. -
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.
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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.”
