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Buoyed by five reliable producing fields, another under development and one close to FID, along with seismic data indicating potential for additional significant finds, the Newfoundland and Labrador offshore sector is poised for noticeable growth over the next few years.
A longtime hotbed of global politics, Arctic E&P operations these days are more fractured than ever. Hydrocarbon-triggered opposition from activists and governments, national geopolitical interests, and the omnipresent demand to produce oil and gas have shattered the circle into pieces.
Pay-to-play time is likely nigh in Guyana, as the tiny nation appears poised to flex the economic muscle that comes with the rapid ascension from an obscure extra to a starring role on the world petroleum stage.
National Oil Company Petrobras is focusing on output growth from pre-salt, following a trend of Brazilian oil independents raising output at fields the NOC already divested, Petroleum Economist reported.
South Africa expects TotalEnergies SE to submit a production plan within weeks to utilize a prolific offshore gas discovery that will form a key part of increasing investment in the sector.