Exploration & Production

Lebanon’s first offshore well fails

5ea6fbe499a79 Bf666BTotal’s well offshore Lebanon has not been able to find a reservoir in the Tamar formation, which was the target of this exploration well

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Global E&P revenues to fall by US$1 trillion in 2020: Rystad Energy

25280651877 91213acddc cThe devastating effect of the COVID-19 pandemic on global oil and gas exploration and production (E&P) companies is better understood by looking at the industry’s expected total annual revenues for 2020

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‘New licensed offshore acreage is likely to fall by about 60 per cent’

francesco boncompagni dEBvDbDH4P4 unsplashMore than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the COVID-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts

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‘Investors unlikely to commit exploration budget to licensing rounds in near term’

ships 4426675 640Investors have not faced both a decrease in global oil demand and a significant and potentially prolonged increase in oil supply at the same time before, which has created unparalleled uncertainty

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SDX Energy finds new gas onshore Morocco

6810279563 5e06094f92 cSDX Energy, the MENA-focused oil and gas company, has encountered commercial quantities of gas from its new Morocco well

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