The country aims to manage its burgeoning oil sector responsibly, while attracting further investment and funding needed for infrastructure projects and services.
The Brulpadda well encountered 57 m of net gas condensate in Lower Cretaceous reservoirs. The well was extended to a final depth of 3,633 m and has also been successful.
The old is new once again in the western Anadarko Basin, as private independents revive the slumbering province.
More exploration drilling, appraisal work and seismic acquisition are ahead for the Stabroek Block as the company looks to start activity in Block 59 offshore Suriname.
Tullow positions itself offshore Comoros, a potential future oil and gas hot spot, as it prepares to drill offshore Guyana next year.
Argentina’s state-controlled energy company YPF and Malaysia’s Petronas are forming a joint venture to invest $2.3 billion over the next four years in the country’s Vaca Muerta shale oil fields, the president’s office announced on Dec. 4.
A high-stakes competition is emerging among energy exporters proposing multi-million-dollar crude terminals along the U.S. Gulf Coast to handle a gusher of shale oil coming from West Texas oilfields.
British shale gas company Cuadrilla has paused fracking at its Preston New Road site in northwest England for the second time in two weeks, after a tremor with a magnitude of 1.1 was detected on Oct. 29, the company said.
The two countries halted output from the jointly run Khafji and Wafra oil fields in the so-called Neutral Zone more than three years ago, cutting some 500,000 barrels per day, or 0.5%, of global oil supply.