Exploration/discoveries
After a decade and a half of declining production, Uzbekistan, ranked 15th worldwide in gas output, has been seeking foreign partners to revive and reverse the fortunes of its oil and gas industry.
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.
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The number of high-impact wells drilled across the globe this year are expected to be on trend with the most recent 5-year average. -
BP called the Bumerangue discovery in the Santos Basin the company’s largest find in 25 years, and announced it had begun production from its tieback project at Argos ahead of schedule.
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Updates about global exploration and production activities and developments.
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The company said it is considering connecting the Vidsyn commercial discovery to the nearby Fenja subsea facility.
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Welligence projects explorers are targeting 50 billion BOE in the near term, with about 20% of that being gas.
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As Africa’s top oil producer, Libya is ramping up momentum—offering 22 exploration areas and welcoming BP back to Tripoli with a major deal.
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Updates about global exploration and production activities and developments.
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Sale 262 will be the first new auction covering leases in US Gulf federal waters in 2 years.
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Oil and gas companies drilled 75 “high-impact” wells in 2024, representing 5.2 billion BOE.
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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.
