exploration Archives - Oil & Gas 360

Legacy offshore fields drive Congo production growth

May 26, 2026

(World Oil) – Mature offshore fields in the Republic of Congo are seeing renewed production optimization efforts as independent operators expand investment in brownfield redevelopment projects. Ammat Global Resources has increased production capacity at the offshore Loango and Zatchi fields through a series of workovers, infrastructure upgrades and reservoir management initiatives aimed at slowing natural decline rates and improving operational efficiency.

Shell, INEOS advance tieback opportunities near Appomattox hub

May 6, 2026

(World Oil) – INEOS Energy and Shell Offshore Inc. have agreed to pursue new exploration and development opportunities tied to the Appomattox platform in the Gulf of America, targeting near-field resources that can be developed via subsea tiebacks. The agreement focuses on prospects within tieback distance of existing infrastructure, including Shell’s pre-FID Fort Sumter discovery, the planned Sisco exploration well and an

bp to acquire 60% stake in Eco Atlantic’s Namibia offshore exploration blocks

April 13, 2026

(World Oil)– Eco (Atlantic) Oil & Gas has signed an agreement to farm down a 60% participating interest in its offshore Namibia portfolio to bp, transferring operatorship across three exploration licenses in the Walvis basin. The transaction covers Petroleum Exploration Licenses (PEL) 97, 99 and 100. Upon completion, Eco will retain a 25% interest, while bp will assume operatorship and lead exploration

China’s CNOOC discovers massive oilfield in Bohai Sea

December 29, 2025

(Oil Price)– CNOOC Ltd, China’s top offshore crude oil and natural gas producer, has announced the discovery of a major new oilfield in the Bohai Sea. The Qinhuangdao 29-6 discovery in the shallow Neogene formations of the Bohai Sea is yet another oilfield estimated to hold more than 100 million tons of crude, or about 730 million barrels, and discovered

Prospera Energy launches key infrastructure upgrades to unlock next phase of production growth

October 23, 2025

(BOE Report)– CALGARY, Alberta, Oct. 23, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera“, “PEI” or the “Corporation“) Prospera Energy is pleased to announce the commencement of a major pipeline replacement and infrastructure upgrade project in the Cuthbert area. The project involves the replacement of two key legacy pipelines over a ten-day construction period, with a total capital

MariEnergies discovers oil at Shawal-1 exploration well in Pakistan

October 21, 2025

(World Oil)- MariEnergies has announced an oil discovery at its Shawal-1 exploration well, located within the Mari Development and Production Lease (Mari D&PL) in Sindh Province, Pakistan. The company operates the block with a 100% working interest. The Shawal-1 well was spudded on Jan. 27, 2024, and drilled to a total depth of 1,136 m in the Ghazij Formation. Well

Petrobras wins approval to drill first exploration well near Amazon River

October 21, 2025

(World Oil)– Brazil’s state-controlled energy company received approval to explore for oil near the mouth of the Amazon River, capping a yearslong standoff with environmental regulators Petroleo Brasileiro SA said in a filing Monday that it received permission to drill one exploratory well in the Foz do Amazonas basin. “The drill rig is at the well site and drilling is

Chevron shakes up exploration with new hire from TotalEnergies

October 7, 2025

(BOE Report) – Chevron on Tuesday named a new head of global exploration as CEO Mike Wirth works to improve the company’s track record in discovering new sources of oil and gas. Kevin McLachlan will become vice president of exploration effective Nov. 1, succeeding veteran executive Liz Schwarze, who will retire in February after 36 years with Chevron, the U.S. oil

Big oil returns to exploration with a bang

September 18, 2025

(Oil Price)– Energy security and affordability have trumped fears of stranded assets in recent years, prompting the world’s biggest international oil and gas firms to shift focus back to exploration after years of trying to develop clean energy solutions. Big Oil has scaled back investments in renewables, at least those majors that tried to become key green energy providers, as

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