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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State-run Staatsolie retains its 40% stake in Block 5. -
Phase 2 production should reach 40,000 BOE/D by mid-2022.
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Onshore stake valued at $1.1 billion.
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Compared with 2020, the largest discoveries made last year may hold just a third of the oil and gas reserves, according to new data from Westwood Global Energy Group.
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Field cluster in the South China Sea expected to produce over 45,000 B/D of oil in 2023.
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UK-based oil company pulls out of South American country after non-commercial finds.
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Sapakara South flow test encouraging, but Bonboni well result disappoints.
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New phase to venerable field ushers in natural gas, lower-emissions focus.
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Santos basin pre-salt find to be further evaluated following completion of well.
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The Yoti West-1 encountered oil in upper Miocene-aged sands.
