Exploration/discoveries
The Loran Phase 2 license award builds on BP’s growing presence in Venezuela as it seeks to develop offshore projects, particularly shared fields near Venezuela’s maritime border with Trinidad and Tobago.
Gran Tierra 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.
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A successful appraisal well at the field has boosted reserves estimates as high as 1 billion barrels. -
The Glaucus-2 well confirms the existence of a multi-TCF gas field.
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A sidetrack is planned to confirm commercial quantities of oil and gas.
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Saudi looks to increase natural gas role in electricity production.
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New discovery could hold 100 million barrels of oil.
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Ecuador program will involve over 40 wells over 18 months.
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Venus well could prove 2 billion-barrel find.
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Malaysia Bid Round 2022 is promoting 14 exploration blocks in addition to known discovery areas.
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Licenses include a dozen in the North Sea, 10 in the Norwegian Sea and 4 in the Barents
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Additional tie-back opportunities should move even more volumes through the facility.
