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Oil and Gas Explorers Focus on Near-Field Plays

OilPrice

Increasing financial constraints, a low commodity price environment and a shrinking pool of prospective basins have transformed how oil and gas players explore for new barrels.

Field 205
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Mexico Revises Oil Production Down

OilPrice

Mexicos finance ministry has revised the countrys crude oil production rate for the year by 129,000 bpd less than previously expected. Instead of 1.8 million bpdthe target set by President Claudia SheinbaumMexico is seen producing 1.762 million bpd, Reuters reported, citing the ministry.

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CanCambria Energy Corp wins exploration tender at Kiskunhalas covering over 230,000 acres

Oil & Gas 360º

It is located adjacent to CanCambrias existing Ba-IX mining license (32,500 acres), creating a consolidated, contiguous position within the Pannonian Basin, a mature and historically productive region in southern Hungary. billion cubic meters of natural gas, was brought to the surface from Hungarian fields.”

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MOL discovers new oil field in Western Hungary

Oil & Gas 360º

(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. We will continue our investments and will do our utmost to maintain and, if possible, increase production.

Field 130
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Libya launches first oil exploration bid round in 17 years

Oil & Gas 360º

(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.

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bp and Iraq finalize contract for Kirkuk oil field redevelopment

Oil & Gas 360º

(World Oil) – bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. The agreement is for an initial phase that includes oil and gas production of more than 3 billion barrels of oil equivalent. Mohammed Shia’ Al Sudani, H.E.

Field 130
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Shell Boost Stake in Nigerian Deepwater as TotalEnergies Exits Bonga Oilfield

OilPrice

Shells subsidiary operating the Bonga oilfield, Shell Nigeria Exploration and Production Company (SNEPCo), has signed an agreement to buy the French supermajors 12.5% stake in the OML 118 Production Sharing Contract, an oil mining lease offshore Nigeria that includes the Bonga field, Shell said on Thursday.