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

OilPrice

Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as a new major field is set to begin production later in 2025, Nuno Bastos, EVP Upstream, has said. Currently, Galp holds stakes in various oilfields in the deep waters of the Santos basin in the prolific pre-salt layer offshore Brazil.

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Offshore Oil Exploration Booms in Namibia with Key Decisions Looming

OilPrice

Namibia expects Frances TotalEnergies and Norways BW Energy to take final investment decisions on oil projects offshore the African country in late 2026, a senior Namibian official says.

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Chinese Oil Major Discovers New Field

OilPrice

Chinas state energy company CNOOC said today it had discovered a new oil field in the South China Sea that could contain over 100 million tons of crude oil, equal to around 733 million barrels. Dubbed Huizhou 19-6, the field is located some 100 miles offshore the province of Shenzhen.

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ADNOC’s XRG Takes Stake in Offshore Gas Block in Turkmenistan

OilPrice

XRG, the newly created energy investment firm of Abu Dhabis national oil company ADNOC, has taken a 38% stake in a production sharing contract for an offshore block of gas and condensate fields in Turkmenistan. As part of the transaction, XRG and Petronas signed a long-term gas sales agreement (GSA) with Turkmengas.

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Trinidad and Tobago Expands Offshore Oil and Gas Bidding

OilPrice

While some operations are under threat due to the introduction of sanctions on neighbouring Venezuela, the government hopes to expand several of the countrys oil and gas fields in the coming years. Trinidad and Tobago has long

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Exxon Invests in Another Project to Boost Australia’s Natural Gas Production

OilPrice

A joint venture of ExxonMobil and Woodside Energy has approved a $222-million project to drill new wells and boost natural gas production from fields in the Gippsland Basin offshore southeastern Australia.

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Shell Boost Stake in Nigerian Deepwater as TotalEnergies Exits Bonga Oilfield

OilPrice

non-operated stake in the deepwater oilfield Bonga offshore Nigeria, where the UK-based supermajor plans to develop another major project. stake in the OML 118 Production Sharing Contract, an oil mining lease offshore Nigeria that includes the Bonga field, Shell said on Thursday. Shell will buy TotalEnergies 12.5%