Asset Management
The Society’s archive of technical papers, maps, figures, and geological data sets will be integrated into the GIX platform, enabling geoscientists to query AI agents about exploration opportunities within specific geographic regions while combining historical research with public data, proprietary information, and advanced analytics.
Despite significant progress in capturing associated gas for domestic use, Iraq remains the world’s third-largest gas-flaring country as it aims for higher oil and gas production targets.
With $9.6 billion in assets in the market, the focus is shifting from who is exiting Southeast Asia to who is positioning for entry through acquisition, according to Rystad Energy.
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Annual report says that governments have the greatest capacity and responsibility to shape the energy future. -
Occidental Petroleum has closed on deals totaling $1.7 billion as part of its divestment program following its $38-billion takeover of Anadarko Petroleum.
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The long-struggling shale operator’s share price on 12 November closed at 67¢/share, a 25-year low.
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The deal, first announced in May, gives the Delek subsidiary 10 additional producing field interests in the UK North Sea, boosting its 2019 production by 300%.
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Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.
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Spain’s Repsol will assume 100% interest in and operatorship of the joint venture as Equinor leaves the 9-year partnership.
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Just three firms submitted bids in an auction many are deeming as a disappointment for Brazil.
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The 2019 World Oil Outlook projects tight-oil supplies to rise to at least 75% of total US production before retreating.
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Lower oil prices, increased operator focus on capital discipline, and diminishing access to capital are choking off once-soaring US oil production growth.
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The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.
