Management
US oil executives say large-scale investment in Venezuela will depend on governance reforms and sustainable legal protections.
The agreement requires the partners to conduct their own proprietary 3D survey of Block 8 in hope of zeroing in on the sweet spot that eluded the TotalEnergies-led consortium when it drilled a dry hole in an adjacent block in 2023.
Murphy Oil’s Hai Su Vang (Golden Sea Lion) appraisal well reinforces the commerciality of the 2025 discovery.
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Sale includes stake in the Abadi gas project. -
Studies center on subsea wells connected to an FPSO.
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Nation also changes fiscal regime to attract new investment.
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The energy ministry instructed a shutdown following Hamas missile strikes.
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Total structure discovered could hold as much as 5 Tcf of gas in place.
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The best wells in which to find lithium are in old conventional fields where rusty pump jacks are pulling out mostly water.
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Find could hold as much as 130 million BOE.
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The $32-million deal nets producer proved reserves of 3.2 million BOE.
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As money pours into the space, questions arise about whether the method of removing carbon from the atmosphere is the best investment.
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The oil and gas industry is embracing digital technology not just as a differentiator but as an enabler of innovation. The simple reality is that, if one doesn’t, they risk being out of the game.
