Bolivian President Luis Arce announced the discovery of a 1.7 Tcf natural gas reserve near La Paz. This discovery, the largest since 2005, is expected to become the third-largest producing field in Bolivia and is expected to produce first gas in two to three years. SourceContinue Reading

Hammerhead aims to start production in 2029, boosting Guyana’s oil production capacity to over 1.4 MMbpd. Exxon, along with partners Hess Corp and China’s CNOOC, expects Hammerhead to produce between 120,000 and 180,000 bpd, which is less than the 250,000 bpd from its largest vessels offshore Guyana. SourceContinue Reading

Designed and built in Perth, Western Australia, the 44-tonne full-scale prototype combines traditional subsea tree technology with several new elements that allow it to swivel, providing 360-degree mooring capability for offtake vessels. SourceContinue Reading

Scheduled for release in early August, the carbon storage assessment is constructed from the largest subsurface library in the world comprising formation tops, petrophysically interpreted logs, and reservoir property maps, including the maximum carbon storage volume per formation. SourceContinue Reading

To support production growth, Angola has introduced a fresh slate of blocks spanning marginal fields, onshore and offshore opportunities. In a first for the country, five marginal fields are on offer in Block 4, Block 14, Block 15 and Block 18 – all of which are operational. SourceContinue Reading

ConocoPhillips received a second information request from the U.S. Federal Trade Commission (FTC) regarding its proposed acquisition of Marathon Oil. Both companies received the requests on July 11 and are collaborating with the FTC to review the merger. SourceContinue Reading

Ramco Norway has been awarded 80% of the volume of oil and gas pipes running from Equinor at Fjord Base in Florø to the Norwegian Continental Shelf. Additionally, the company has been allocated 100% of the volume from Sandnessjøen and Hammerfest. SourceContinue Reading

This year’s Economic Report from the Permian Strategic Partnership (PSP) emphasizes the area’s status as the second lowest producer of CO2 emissions per barrel of oil equivalent among the major onshore producing basins worldwide. SourceContinue Reading

Wood has secured a six-year contract to provide brownfield engineering, procurement, and construction management (EPCm) solutions for Shell’s Prelude Floating Liquified Natural Gas (FLNG) facility in Western Australia. SourceContinue Reading

With details for Angola’s 2025 licensing round announced earlier this week, African exploration markets are making a push for upstream investment by deploying more attractive terms and offerings for global investors. SourceContinue Reading