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Brazil’s 5th presalt production sharing round, held 10 days before the country’s upcoming presidential elections which outcome is unpredictable, attracted several oil majors.
Hammerhead-1, which is located about 21 km (13 miles) southwest of the Liza-1 well, hit about 60 m (197 ft) of high-quality, oil-bearing sandstone reservoir, the company says.
The Guyana-Suriname Basin has an estimated resource potential of more than 13 billion barrels of oil, according to the U.S. Geological Survey.
Kosmos CEO Andrew Inglis said he believes a huge opportunity has opened in the U.S. Gulf of Mexico as many competitors leave the region for onshore shale.
M&A activity in the oil patch is about to heat up as long and short-term drivers, from positive commodity prices to lower cost metrics in deep water and investment in alternative energies, kick in.