Country’s upstream documents focused on shared field developments. Lack of financial sources, no attention to domestic capacity, fail to use political and economic potential for development, risk of not achieving goals and non-reimbursement of costs, short-term contracts and inflexibility of financial instruments make development plans off. Azadegan, the biggest shared oilfield in country, is not …
Upstream development economics beat typical returns from wind and solar. Renewables offer diversification for the Majors, something that will be welcome as the energy transition looms large. Oil and gas companies may have a competitive advantage in large-scale offshore wind due to transferable technical and engineering expertise, their large balance sheets, and existing stakeholder and …
Oil and gas exploration spending has been on a consistent downward trend in recent years. With investment budgets under renewed pressure in 2020, the share of exploration spending in total investment may hit historic lows. South America and Africa are at the front of exploration market. Mexico, Brazil and Guyana will be the biggest exploration …