Market Update

Licensing Update – New Zealand

New Zealand has a long history of petroleum production, dating back to 1865, when the Alpha well was dug near seeps in Taranaki. This was followed by other wells in…

Russia: Fall in Offshore Exploration Investment

Scarce geological information and a reduction in exploration investments are a major hindrance to exploiting Russian Arctic Shelf potential. Since the 2014 discovery of Universitetskaya-1 in the Kara Sea, offshore…

Licensing Update – Brazil

14th Exploration Round and 3rd Production Sharing (Pre-Salt) Round in 2017 The Brazilian Government has recently confirmed the blocks to be offered in the 14th Exploration Round and proposed areas…

Licensing Update – USA

Large areas to be made available in Gulf of Mexico The United States Department of the Interior announced in early March that it will offer 73 million acres in the…

Minute To Read

Shah Deniz Developments With 40 Tcfg in place, Shah Deniz is one of the largest gascondensate fields in the world. Discovered in 1999, it is located in the Caspian Sea,…

Asia-Pacific: Decline in Drilling

The resurgence of offshore exploration in the Asia-Pacific region is dependent on more acreage Since the peak year of 2011, offshore exploration activity, measured as the number of exploration wells…

Licensing Update – Lebanon

Levantine Basin Blocks In January 2017 Lebanon relaunched the licensing round which has been on hold for three years pending a resolution to the political crisis which had left the…

US Back as Largest GoM Producer

The Mature Gulf of Mexico Continues to Thrive The Gulf of Mexico is currently one of the largest offshore producing areas globally. Despite it being a mature province, there are…

Licensing Update – Iran

New Iran Petroleum Contracts Despite the recent imposition of fresh sanctions by the US, Iran launched new contracts to develop its hydrocarbon resources in February 2017, its first such tender…

Minute To Read

Brent Benchmark Adds Troll The price of Brent crude has been avidly watched as the basis of comparison for crude oil prices around the world since the 1980s, but the…

Licensing Update: Somalia

In recent years, Somalia has made great strides on the road to effectively exploiting its natural resources. The Somalian Ministry of Petroleum and Mineral Resources is now operating from a…

Licensing Update: Somalia

In recent years, Somalia has made great strides on the road to effectively exploiting its natural resources. The Somalian Ministry of Petroleum and Mineral Resources is now operating from a…