Exploration/discoveries
TotalEnergies signed off for 30% operated stakes in the Lang Lebah and B14 gas fields offshore Sarawak on the sidelines of ADIPEC in Abu Dhabi, while also highlighting methane-reduction partnerships in Angola, India, and Southeast Asia.
In Asia, Valeura Energy and PTTEP advanced a Gulf of Thailand gas project, while Murphy Oil and Seadrill moved forward with projects in Vietnam, Indonesia, and Malaysia. In the Americas, Perenco, Petrobras, and Equinor advanced projects in Brazil, Canada, and elsewhere. Other developments included updates from Equinor, Serica Energy, BW Energy, and Sharjah National Oi…
Industry forecasts point to increasing upstream expenditure and production, even as geopolitical volatility and smaller discoveries challenge project economics.
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Welligence projects explorers are targeting 50 billion BOE in the near term, with about 20% of that being gas. -
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.
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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.
