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Saudi capital invests $10 billion in Afghanistan’s oil and gas!
In September 2026, Saudi Delta Energy (Delta Energy) signed a series of oil and gas exploration and development agreements with Afghanistan, covering exploration in the Kushk-Tirpul Basin in the west, a study on natural gas utilization in Herat, and a proposed 700-km cross-border natural gas pip...Read more -
GeoPark signs 25-year contract to develop the Bare field in Venezuela
PDVSA, Venezuela’s state-owned oil company, and GeoPark have officially signed a 25‑year Production Participation Contract (CPP) for the Bare block. Bare is located in Venezuela’s Orinoco Heavy Oil Belt and is a mature heavy oil asset already in production. Under the contract terms, G...Read more -
Baker Hughes and BP have signed a contract for production enhancement services in the UK North Sea
Baker Hughes has been awarded a contract by BP for offshore production enhancement and wellbore stimulation services in the UK North Sea. The scope of work covers BP’s offshore operations on the UK Continental Shelf, supporting both new well development and enhanced oil recovery from mature field...Read more -
CNOOC and Kazakhstan deepen cooperation in geological exploration and oilfield services
According to KazMunayGas (KMG), the company recently held talks with CNOOC on the current status and future prospects of bilateral cooperation. According to KazMunayGas (KMG), KMG Chairman Askhat Khassenov met with CNOOC Chairman Zhang Chuanjiang in Astana, the capital of Kazakhstan. The two sid...Read more -
Tunisia-Libya joint oil venture relaunches tender for 3,000-square-kilometer exploration blocks
The Tunisia‑Libya Joint Oil Exploration, Development and Petroleum Services Company (Joint Oil) has relaunched its offshore block tender, opening the Zarat development project and exploration areas within the Joint Oil blocks to investors. The tender opens on September 7, 2026, and closes on Dece...Read more -
Iran Announces Major New Discovery of 200-Billion-Cubic-Meter Gas Field!
Iranian Oil Minister Mohsen Paknejad announced on the 23rd that a new gas field has been discovered in Fars Province in southern Iran, with natural gas reserves exceeding 7.5 trillion cubic feet (about 212.4 billion cubic metres) and recoverable reserves of approximately 5.7 trillion cubic feet ...Read more -
FPSO at Brazil’s Mero field reaches peak production capacity of 180,000 barrels per day
FPSO Alexandre de Gusmão, a floating production, storage and offloading unit, has reached its project‑designed peak production capacity at the pre‑salt Mero field in the Santos Basin, Brazil, with a daily oil processing capacity of 180,000 barrels. This FPSO is the fifth unit of its kind in the M...Read more -
Russia’s Nenets Autonomous Okrug will commission two new oil fields in 2026
The Nenets Autonomous Okrug (NAO) will launch the Layavozhskoye and Komandirshorskoye oil field projects in 2026, ending years of stagnation in oil production in the region. The governor of the autonomous okrug, Irina Gecht, announced the plan during a report to Russian President Vladimir Putin. ...Read more -
China’s first 100-billion-cubic-meter gas field in the Bohai Sea — Phase I development project fully commissioned
CNOOC Tianjin Company has announced that the Phase I development project of the Bozhong 19-6 gas field, the first 100‑billion‑cubic‑meter natural gas field in China’s Bohai Sea, has been fully commissioned. The project currently produces over 5,200 tonnes of oil equivalent per day, and its develo...Read more -
The Bai Luotuo North exploration well has spudded in offshore Vietnam, with pre-drill resource potential of up to 80 million barrels of oil equivalent
Murphy Oil has disclosed that its Lạc Đà Trắng North‑1X exploration well in Block 15‑1/05 off the coast of Vietnam spudded in July 2026. The pre‑drill estimated total recoverable resource potential for the well ranges from 40 to 80 million barrels of oil equivalent. The drilling results will dete...Read more -
The second development well at the Monument oilfield in the United States is about to start drilling
U.S. independent oil and gas producer Talos Energy has disclosed that the first development well at the Monument field, located in the deepwater U.S. Gulf of Mexico, has been drilled. The operator, Beacon Offshore Energy, is preparing to spud the second development well, after which completion op...Read more -
Over 40 Billion Mega Project! Chinese Oil Companies Take Stakes!
Recently, Abu Dhabi National Oil Company (ADNOC) officially made the Final Investment Decision (FID) for the Umm Shaif gas cap development project, with a total investment of $6.2 billion (approximately RMB 42 billion). A gas cap refers to a layer of natural gas accumulation; in hydrocarbon rese...Read more
