Exploration
News
July 09, 2025
Hess will relinquish Block 59 in offshore Suriname effective July 8, 2025. The block will return to Staatsolie and become part of the open acreage. Hess fulfilled its minimum work obligations and has decided not to move forward to the next phase of the exploration period, Staatsolie said in a statement.
News
July 08, 2025
(Bloomberg) -- bp Plc and Shell Plc signed agreements with Libya’s National Oil Corp (NOC) to study new opportunities, joining international majors accelerating their return to the oil-rich African nation. The focus on Libya, an OPEC member, comes as the North African nation tries to bring back oil majors that left.
News
July 08, 2025
bp has signed a Memorandum of Understanding (MoU) with Libya’s National Oil Corporation (NOC) to evaluate redevelopment opportunities in the mature giant Sarir and Messla oil fields in Libya’s Sirte basin and to understand the wider unconventional oil and gas potential within the country.
News
July 07, 2025
Environmental advocate group Greenpeace has spoken out against the African Energy Chamber (AEC) and Africa’s energy sector, citing the continent’s efforts to accelerate development as a coordinated attack on the right to dissent, the AEC said on Monday.
News
July 07, 2025
Algeria’s state-owned oil company Sonatrach and Italy’s Eni have signed a 30-year production sharing contract to explore and develop the Zemoul El Kbar region of Algeria. The contract is estimated at a value of $1.35 billion, Sonatrach said in a statement Monday.
News
July 02, 2025
Chevron Corp. and TotalEnergies SE are competing in Libya’s first energy exploration tender since the 2011 conflict, the country’s state-run oil firm said, as the OPEC member looks to oil majors to help ramp up production to a record.
News
June 18, 2025
The contract includes a firm commitment to drill two exploration wells, targeting drill-ready prospects that offer significant resource potential and are strategically positioned to unlock synergies with Petronas’ existing operations in Suriname.
News
June 17, 2025
TotalEnergies, jointly with QatarEnergy, has been awarded the Ahara license following the “Algeria Bid Round 2024”, launched by The National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), the first call for tender conducted under the hydrocarbon law No.19-13.
News
June 16, 2025
TotalEnergies has acquired a 25% working interest in a portfolio of 40 exploration leases offshore U.S. from Chevron (operator). The transaction provides access to multiple offshore exploration plays and prospects, strengthening the successful U.S. offshore collaboration with Chevron beyond existing partnerships.
News
June 04, 2025
MOL Group and SOCAR have signed key terms for an exploration, development, and production sharing agreement for a new onshore area covering the Shamakhi-Gobustan regions of Azerbaijan.
News
June 03, 2025
bp and partners have approved phase three of development in the Shah Deniz gas field, the $2.9 billion Shah Deniz Compression project. In addition to the project approvals, bp also announced an agreement with SOCAR to access two blocks in the Caspian Sea for exploration and development.
News
May 29, 2025
Zephyr Energy has announced initial post-well evaluation results at its flagship project in Utah's Paradox basin. “The Cane Creek reservoir is highly productive and potentially ranks alongside some of the most productive oil and gas plays in the U.S," said CEO Colin Harrington.
News
May 26, 2025
Saudi Arabia and Kuwait jointly announced Monday that they have discovered oil in the North Wafra Wara-Burgan field, part of the neutral zone between the two nations. The news was reported by Saudi Press Agency (SPA).
News
May 21, 2025
The latest U.S. Geological Survey assessment estimates that 27 trillion cubic feet of gas, and 473 million barrels of recoverable oil are located in parts of Wyoming, Colorado and Utah, the Department of the Interior announced on Wednesday.
News
May 19, 2025
A top United Nations court has ruled in favor of Equatorial Guinea in a long-running territorial dispute with Gabon, awarding it sovereignty over three small islands located in potentially oil-rich waters in the Gulf of Guinea.
News
May 16, 2025
EOG Resources, Inc. (EOG) today announced that the company was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi's Supreme Council for Financial and Economic Affairs (SCFEA).
News
May 15, 2025
Libya’s latest upstream licensing round has already attracted more than 40 applicants, signaling growing interest in its largely untapped hydrocarbon potential. The update was shared during a ConocoPhillips-sponsored session at the Invest in African Energy Forum.
News
April 29, 2025
The Republic of Congo's Minister of Hydrocarbons Bruno Jean-Richard Itoua will speak at African Energy Week (AEW) 2025. Congo is preparing to launch its 2025 licensing round – central to its strategy of increasing oil output from 274,000 to 500,000 bpd by 2027.
News
April 28, 2025
Ever since oil and gas majors announced massive hydrocarbon discoveries in Namibia’s offshore Orange Basin, interest in additional exploration in has been intense. Will negotiations stall, as we’re seeing all too often in African nations, or will the process move forward smoothly?
News
April 25, 2025
APA Corporation and its partners Lagniappe Alaska, LLC, an Armstrong company, and Oil Search (Alaska), LLC, a subsidiary of Santos Limited, have completed successful flow testing of the Sockeye-2 exploratory well in Alaska's North Slope.
