Major concerns for the region include development of unconventionals and large-scale hydro systems.
As oil production declines, Trinidad and Tobago is offering nine blocks to bidders.
The high cost of imported natural gas and increased demand have opened the door for shale-gas development in Argentina.
Pemex plans to drill 20 wells through 2014 in five regions to determine Mexico's shale gas resources.
As part of the agreement, Touchstone will acquire a 100% working interest in five blocks located in the Southern Basin of the Republic of Trinidad and Tobago. The blocks— Fyzabad-2, WD-2, WD-5/6, WD-13 and WD-14—have an estimated average field production of about 1,490 barrels of oil per day, the release said.
Range announced that hydrocarbon sands and oil shows were encountered at the Upper Cruse channel sand complex during drilling of the well, with electric log interpretation confirming the presence of recoverable hydrocarbons with an estimated net pay of 48 ft.
The campaign will map the seafloor to interpret, identify, sample and analyze potential hydrocarbon seeps, Fugro said in a news release.
The Kronos-1 well, jointly owned with Anadarko, discovered hydrocarbons at 3,720m at the well in the Fuerte Sur Block, Reuters said. Colombia is Latin America’s fourth-biggest oil producer.
Board estimates the deal’s total value at about US$750 million. Transaction is scheduled to close within one week. West Polaris is a sixth-generation ultradeepwater drillship contracted to ExxonMobil in Angola.
Under a five-year, US$250 million contract, Massy Wood Group will provide engineering, procurement and construction services to BP's 13 upstream offshore facilities in the Greater Cassia and Greater Mahogany areas.
C&J Energy Services Ltd. is led by current C&J management and will be based out of Bermuda. The transaction was originally announced June 25, 2014.
This is the largest foundation installation campaign offshore Trinidad and Tobago to date.
Seadrill Ltd.’s board of directors has appointed Ørjan Svanevik to fill the vacant board position, following the resignation of Carl Erik Steen, according to a news release.