Remove 2030 Remove Barrel Remove Basin
article thumbnail

Oil majors compete for Libya’s first exploration tender since 2011 war

Oil & Gas 360º

Authorities target daily oil output of 2 million barrels before 2030 — surpassing the 1.75 million-barrel peak reached during strongman Muammar Qaddafi’s reign in 2006. million daily barrels within a year, according to Seliman. The development of its north Jalo field alone would add 100,000 barrels. million bpd.

article thumbnail

U.S. oil giants fight over Guyana’s 11-billion barrel treasure trove

Oil & Gas 360º

Guyanas Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. The high-volume, low-cost development offshore the South American country, which started production just five years ago, is already pumping more than 660,000 barrels per day (bpd) of crude. supermajor.

Barrel 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Chevron, Total Vying in Libya's First Oil Tender Since 2011 War

Rigzone

Authorities target daily oil output of 2 million barrels before 2030 — surpassing the 1.75 million-barrel peak reached during strongman Muammar Qaddafi’s reign in 2006. million barrels a day. million daily barrels within a year, according to Seliman. Libya currently pumps about 1.4 Waha Oil Co.,

Oil 83
article thumbnail

Policy versus geology: new report reveals £165bn choice facing North Sea future

Offshore Energies UK

billion barrels of oil and gas could still be produced from UK waters – 3.2 The government’s independent advisers, the Climate Change Committee, say in a scenario where the UK meets all its climate targets on time, UK homes and businesses will still use between 13 and 15 billion barrels of oil and gas. This is normal in a mature basin.

article thumbnail

The Canadian oil sands’ low-breakeven resource advantage

Enverus

Total company-disclosed proved oil reserves amount to about 30 billion barrels which breaks-even at prices lower than $50 WTI. To access most of the remaining 100 plus billion barrels of undeveloped oil sands resource, new greenfield mining and SAGD projects are required. Thats over 20 years of current production.

Oil 130
article thumbnail

ExxonMobil’s Permian Basin Strategy: How Technology is Driving Efficiency and Growth

Oil Gas Leads

CERAWeek 2025 Insights ExxonMobils expansion in the Permian Basin took center stage during CERAWeek 2025 , where executives highlighted how technology is reshaping operations to maximize efficiency and production. million barrels per day (bpd) accounting for over 16% of the basins total production.

Basin 52
article thumbnail

Whitecap and Veren Finalize $10.4B Merger, Create Top-7 Canadian Oil & Gas Producer

Rextag

million bpd by 2030, with more volumes flowing through Trans Mountain. Montney Formation: A Core Growth Basin The Montney formation, spanning Alberta and British Columbia, holds an estimated 449 Tcf of gas, 14.5 billion barrels of NGLs, and 1.13 billion barrels of oil, making it Canada’s top unconventional resource. “The

Gas 52