Upstream majors dive into deeper and frontier waters while exploration budgets for 2024 remain flat.
Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Eni-operated block partner TotalEnergies says appraisal confirms the presence of significant resources and production potential in the block.
PGS’ contract has a total duration of approximately 160 days.
Despite another quarter of losses, Transocean argues it is still poised for a strong 2024.
If the flow of oil is not disrupted amid conflict, Stratas Advisors expects the risk premium will start eroding and the previous price dynamics will return.
Here’s a roundup of the latest E&P headlines, including a major discovery in Turkey and a flurry of new contract awards.
"The development plan... will enable a significant increase in production to 21 Bcm a year," Ratio Energies' Yigal Landau said.
Eni and QatarEnergy both hold a 30% interest in the offshore Lebanon Blocks 4 and 9, while operator TotalEnergies holds a 35% interest.
The deal involved the renewal of an existing agreement originally struck in 2008, according to Libya's National Oil Corp. head Farhat Bengdara.