Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.
Block 183 contains up to 2.2 Tcf of recoverable potential gas reserves. It likely contains C5 condensates. It has two oil and gas prospects in anticlines associated with Sarayaquillo sandstones.
Next phase of Mexico’s Round One includes an offering of 26 onshore conventional fields in Burgos, Tampico-Misantla and Salinas-Sureste basins. This round’s qualification criteria differ from the shallow-water development round.
Almost all Nigeria’s 184Tcf of gas reserves were found while searching for crude, Bloomberg said. Separate gas asset leases will provide opportunities for gas exploration companies, according to an expert.
The portion of the stake sold was for the Phase 1 development of 5Tcf of gas resources. Approval from Egyptian General Petroleum Corp. is required to close this agreement.
Auctions attracted the highest prices since 2007 in the first four months of the year even as Canadian heavy oil slid below $30 a barrel, from $87.23 in June, and producers from Cenovus Energy Inc. to Royal Dutch Shell Plc slashed spending and jobs.
The Queensland Government has put 11,000sqkm of exploration acreage up for grabs, with most of the available land concentrated in the prospective Cooper and Eromanga Basins.
Tanzania could lead East Africa LNG exports through Shell’s takeover of BG Group, Bloomberg said. Stakes in three blocks offshore Tanzania, holding one-third of estimated resource, are included in deal.
GS Energy Corp., the energy unit of South Korea’s GS Holdings Corp., will access 50Mbbl/d of oil for its share in Abu Dhabi’s largest onshore oilfield concession, Bloomberg said.
Statoil is monitoring acquisition possibilities while focusing on exploration with no gaps in its investment portfolio, CFO Torgrim Reitan told Bloomberg. Statoil plans to spend $3.2 billion on 2015 exploration.
The broadband coverage will cover more than 360 km over the acreage, moving north over the 23rd round acreage in the Loppa High and Maud Basin to the Wisting discovery.
Field inspection, certification and inspections company QIC will maintain its brand and operate as a RINA group company. RINA is expanding its oil and gas service operations.