Field/project development
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.
ExxonMobil and its Area 4 partners have awarded $1.1 billion in pre-investment contracts for long-lead upstream equipment supporting Mozambique's Rovuma LNG project. The awards, led by OneSubsea, mark a key step toward FID as development advances on ExxonMobil's largest global investment.
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.
-
More than 2.0 mtpa of LNG to come from Plaquemines LNG and CP2 LNG facilities. -
Uganda’s Lake Albert appears on track to first oil by 2025. The oil is expected to be exported via the 1443-km East Africa Crude Oil Pipeline.
-
The proposed sale notice consists of more than 300,000 acres in three designated areas offshore Louisiana and Texas.
-
Equinor advances Irpa and Verdande field development projects closer to first oil with a raft of contract awards.
-
An International Energy Forum report says oil and gas upstream capital expenditures increased to their highest level since 2014 but more is needed.
-
QatarEnergy’s acquisition of a 30% interest in E&P blocks offshore Lebanon with TotalEnergies and Eni expands the company’s East Med portfolio while enabling the Emirate to help mediate Beirut’s longstanding political and economic crisis.
-
Environmental report recommends shrinking the Alaska project to three drilling sites from the five initially proposed by ConocoPhillips.
-
Operator Horisont Energi finds a new partner in Spain’s Fertiberia, while Equinor and Vår seek alternatives.
-
Offshore Eastern Canada is showing signs of life as new project commitments are firmed up and idled projects roar to life.
-
The authors of this paper describe the path of an operator’s successful exploration program that has integrated geologic and geophysical understanding and new technology to discover 8 billion BOE at the time of writing.
