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Production from Al-Khafji field will be less than 50% of the field’s initial production capacity.
Preliminary sale statistics show 29 companies placed 171 bids on 144 blocks in the U.S. GoM.
As the next U.S. Gulf of Mexico lease sale nears, analysts believe there could be a slight increase in bidding activity.
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.