Plans to find oil and natural gas offshore Alaska this year will have to wait as setbacks cause Shell to hold off on its 2012 drilling program in the Arctic. Instead, the company will focus on drilling top holes this year in preparation for next year’s drilling work.

Attempts to occupy islands by Japanese and Chinese protesters have heightened the conflict over maritime boundaries in the South China Sea.

Arctic drilling started for Shell as the company commenced work on a 2,438-m pilot hole on the Burger prospect in the Chukchi Sea. However, sea ice caused work to stop temporarily.

Mexico’s national oil company announced recently the discovery of crude oil in the Gulf of Mexico. The find, which comes amid continuing production declines, gives the company hope toward reversing that trend.

Lundin Petroleum has plans to increase exploration and production in the Norwegian North Sea.

Exploration and production activity is paving the way toward the surge in capital expenditures worldwide, according to natural resources analyst GlobalData.

The Obama administration has granted Shell permission to begin work in the Chukchi Sea; however, the permission applies only to initial site work and drilling in areas that are not oil-bearing.

The company’s plans include drilling nine wells in the Barents Sea and investing more money in its Arctic research budget.

Despite the possible negative consequences from the Iraqi Oil Ministry, some companies are taking chances and heading north to Kurdistan to explore for oil.

The Carcará discovery was announced March 20, 2012, as a presalt wildcat. Drilling so far has indicated an oil column of more than 400 m (1,312 ft).