Exploration/discoveries
Formerly titled E&P Notes, this monthly snapshot of global E&P activity highlights ongoing developments worldwide.
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.
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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. -
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.”
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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.
