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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Iran’s national oil company is offering investment opportunities in 50 fields to global bidders, its first effort to do so since the 2015 pact with world powers that lifted nuclear-related sanctions against the country. -
The opening of Mexico’s oil and gas sector was a landmark moment in the industry, but despite the potential upside, the uncertainty and risk surrounding unfamiliar offshore territory in a volatile price market kept many potential investors at bay.
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Iran has surprised many global market experts with how rapidly it has increased crude oil production, following the January international agreement that lifted nuclear-related sanctions against the country. External companies get a look at new terms for production in Iran.
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An international bidding round for oil and gas announced on 1 August is Egypt’s most recent move to bolster its lackluster economy. This article examines the current state of the industry in Egypt.
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Offshore exploration will be slow to come back as companies have delayed billions in projects through 2020. Exploration projects also must complete for funds with brownfields developments like EOR that potentially provide a shorter time to show a return.
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Each of the 25 onshore blocks offered to private companies in Mexico’s December auction were awarded, almost all of which went to Mexican companies.
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Mexico’s second oil and gas lease auction has been deemed a success after three out of five shallow-water blocks were awarded in September. The awarded areas contain an estimated 236 million bbl of oil and 190 Bcf of gas.
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During the 10-year period between 2003 and 2013, Mexico drilled 30 deep- and ultradeepwater wells in water depths ranging from 512 to 2900 m.
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A Cold War technology invented to stealthily guide the United States Navy’s nuclear submarine fleet is now serving a much more peaceful purpose: aiding in the search for oil and gas deposits.
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