Exploration
News
June 06, 2024
The latest analysis from Westwood Global Energy Group reveals that despite favourable oil prices in 2022, high impact exploration drilling in 2023 declined by 21%, due to energy transition strategies, industry consolidation, rising well costs and reduced activity in former hotspots.
News
Algeria nears Chevron, ExxonMobil deals as country aims to boost oil and gas production, exploration
May 30, 2024
Algeria is stepping up exploration efforts and has made eight large discoveries so far this year, with the aim of raising production to 200 Bcm a year in the short to medium term from 137 Bcm currently.
News
May 23, 2024
On the back of recent investments, exploration and production updates and strong willingness by the government, the Republic of Congo is taking historic measures to ensure its oil and gas industry drives resource monetization and energy access throughout Africa
News
May 09, 2024
Nigeria's approach aligns with global energy sustainability goals, considering environmental, social, and governance factors. The initiative aims to boost oil and gas reserves, production, gas utilization, employment opportunities, technology transfer, and investment attraction.
News
April 19, 2024
The two companies are already partners in exploration blocks in the Exploration & Production segment, including Alto de Cabo Frio Central, Campos basin, and Barreirinhas basin, all operated by Petrobras.
News
April 18, 2024
Oil reserves are being consumed faster than they’re being replaced. If the reserve replacement ratio doesn’t improve, supply could fail to meet demand before lower-carbon and new energy solutions mature. Companies rethinking strategies are using infrastructure-led exploration as a digital solution to find economically viable new prospects.
Article
March 2024
Oil reserves are being consumed faster than they’re being replaced. If the reserve replacement ratio doesn’t improve, supply could fail to meet demand before lower-carbon and new energy solutions mature. Companies rethinking strategies are using infrastructure-led exploration as a digital solution to find economically viable new prospects.
News
March 11, 2024
The Philippines is exploring several options in its quest to tap the resource-rich South China Sea, waters that China claims almost in its entirety. The body of water is estimated to hold significant quantities of oil and gas, according to the U.S. Energy Information Administration.
News
March 07, 2024
Leading the new deals is the purchase of 25,000 STRYDE Nodes™ by first-time client, Ukrainian seismic acquisition firm, Georozvidka LLC. The technology will be used for multiple 2D and 3D seismic surveys in Ukraine, supporting national and global energy security through the enablement of new oil and gas exploration projects.
News
February 28, 2024
The Philippines is developing other energy sources as its key Malampaya gas field — which supplies a fifth of the country’s power requirements — nears depletion. PXP Energy Corp.’s exploration work on Reed Bank, another potential source for gas, has been suspended “because of the geopolitical situation,” Sales said.
News
February 25, 2024
Chief Executive Officer Mario Mehren said, “in a difficult year for Wintershall Dea, our team delivered stable operational performance, and robust financial results despite macroeconomic headwinds.” The company produced 323,000 boed in 2023.
News
February 25, 2024
To date, all surveying activity has been completed, with demining activities complete on the Damara Fold Belt Prospect L, which is expected to be the company’s first drilling location with an expected spud date in June 2024.
News
February 21, 2024
Guyana will restrict oil-related activities to south of that unverified border to avoid inflaming the situation, the official, Natural Resources Minister Vickram Bharrat, said in an interview.
News
February 19, 2024
The solution connects Shell’s exploration teams to relevant seismic data. With rapid access, Shell can now focus on informed decision-making in the dynamic energy landscape.
News
February 18, 2024
Set to deliver first LNG cargo this quarter, the Republic of Congo is transforming its industry through gas-focused investments and new E&P programs.
News
February 05, 2024
During a meeting with Indonesian President Joko Widod, Eni CEO Claudio Descalzi disclosed plans following significant milestones in 2023, notably the discovery of 5 Tcf of natural gas with the Geng North-1 well in the North Ganal PSC, the acquisition of the Indonesia Deepwater Development assets from Chevron, and the further consolidation of Eni’s position in most of the key exploration and production blocks of the Kutei basin following the acquisition of Neptune Energy.
News
January 26, 2024
On Friday, Jan. 26, 2024, World Oil hosted its 56th annual Forecast Breakfast at the Norris Conference Center in Houston, Texas. In an event described as a “first look” at upcoming upstream oil and gas trends, approximately 340 professionals from across the sector gathered for an early-morning meal to hear projections, data and analysis on global E&P from industry experts.
Article
January 2024
2024: The two lies of exploration
Article
January 2024
While there was little change in activity from the third quarter of 2023 to the fourth quarter, there are some negative trends developing that have operators concerned. Yet, there is hope that 2024 can be a marginally better year.
News
January 25, 2024
In 2024, net production target is 700 MMboe to 720 MMboe, of which production from China and overseas accounts for approximately 69% and 31%, respectively. The net production target is 780 MMboe to 800 MMboe in 2025, and 810 MMboe to 830 MMboe in 2026.
