Exploration/discoveries
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.
Equinor, ADNOC, Eni, Santos, Saipem, and Halliburton lead this week’s offshore energy headlines, with a new Barents Sea discovery, a $6.2 billion UAE gas project FID, and major contract awards across Côte d’Ivoire, Iraq, Libya, and Romania. Key updates also include progress at Santos’ Barossa and Pikka developments and new North Sea drilling commitments from Equinor a…
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Oil and gas companies drilled 75 “high-impact” wells in 2024, representing 5.2 billion BOE. -
The $2.9 billion Shah Deniz Compression project, expected online in 2029, will enable additional production of around 50 Bcm of gas and 25 million bbl of condensate.
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Updates about global exploration and production activities and developments.
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The Göktepe-3 discovery boosts Turkey’s gas reserve estimates by 10%, supporting Ankara’s ambitions to become a regional gas export hub.
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The new policy aims to accelerate the leasing timeline and expand access to public lands.
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The contracts build on Cairo’s decades-long strategic energy alliance with Moscow, which will soon include nuclear energy.
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Global majors remain committed to boosting investment in Egypt’s offshore gas production as they eye Cairo’s underutilized LNG capacity.
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EVP Giulia Chierchia and Chairman Helge Lund are stepping down amidst difficult Q1.
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Updates about global exploration and production activities and developments.
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SOCAR’s expansion of its exploration footprint in Israeli waters could position Azerbaijan as a future player in EastMed gas.
