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Permian Basin Growth Fuels ExxonMobil’s Quarterly Success

OilPrice

First-quarter earnings at ExxonMobil (NYSE: XOM) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices.

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Equinor Expands Santons Basin Exploration Scope

Offshore Engineer

Equinor has secured a new exploration opportunity in Brazil, having won the license for S-M-1617 offshore block in Santos Basin during the country’s fifth Open Permanent Concession bid round…

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Turkey, Pakistan To Explore World’s Fourth Largest Oil & Gas Reservoir

OilPrice

Newly discovered offshore oil and gas deposits in Pakistans territorial seas could be brought to surface by Pakistan and Turkey. The two countries this week signed an agreement at the 2025 Pakistan Minerals Investment Forum in Islamabad to jointly bid on 40 offshore blocks.

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Suriname's Oil Industry Poised for Significant Growth

OilPrice

After ExxonMobils swathe of world-class discoveries in Guyanas offshore Stabroek Block, the Guyana-Suriname Basin emerged as the worlds hottest drilling location. Suriname, a small country with a population of less than 700,000, which is among South Americas poorest, is believed to possess petroleum

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Galp Expects New Field to Boost Its Production in Brazil by 40%

OilPrice

Currently, Galp holds stakes in various oilfields in the deep waters of the Santos basin in the prolific pre-salt layer offshore Brazil. The Portuguese firms production in Brazil is about 110,000 barrels of oil equivalent per day (boepd) at present. The expected start-up of the Bacalhau field, operated by Norways Equinor, is set

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CNOOC Starts Production at Offshore Field in South China Sea

Offshore Engineer

China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has brought on stream the Weizhou 5-3 oil field development project in Beibu Gulf Basin in the South China Sea…

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Civeo Announces a 4-Year Contract Renewal in the Australian Bowen Basin with expected revenues of approximately A$250 million

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