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The majors are investing more in deepwater exploration as they are doubling down on their pledge to continue delivering oil and gas to meet global demand. The high offshore drilling activity is already showing in the rising profits and backlogs of the world's top oilfield services providers and rig charterers. Namibia is topping the list with new discoveries adding to its existing proven reserves. The successes of Total, Shell and Galp are encouraging large oil companies to direct more investments into exploration.

Oil and gas companies have boosted offshore drilling in recent months, finding large resources in the newest exploration hotspots and aiming to develop huge low-cost, low-emission oil and gas fields that will yield decades of high returns. The majors are investing more in deepwater exploration as they are doubling down on their pledge to continue delivering oil and gas to meet global demand. The high offshore drilling activity is already showing in the rising profits and backlogs of the world's top oilfield services providers and rig charterers. The oil and gas majors—ExxonMobil, Chevron, Shell, BP, TotalEnergies, and Eni—are winning more acreage in frontier basins for deepwater drilling in the Atlantic Margin, the Eastern Mediterranean, and Asia, with Namibia and South America standing out, according to estimates by consultancy Rystad Energy.

Upcoming High-Impact Wells Unlocking Africa’s Offshore Potential Recent oil and gas discoveries throughout the continent, including Namibia’s Mopane 1X and 2X, are spurring new drilling campaigns and investments across Africa. Global E&P Financial Group companies are ramping up exploration activities to unlock fresh reserves and maximize the Africa’s offshore potential with a number of high-impact wells planned for 2024 and 2025. Up to 70% of wells drilled in Africa will be in frontier and emerging basins. Set to dominate the global high-impact well drilling... Read more on the link below https://lnkd.in/gJ25hXUU

New drilling on tap for Namibia as crunch time looms: A critical period approaches for new global upstream hotspot Namibia. Starting next month, a string of high-impact exploration wells will be drilled in the deepwater Orange Basin, home to multiple major discoveries. The wells will shape future oil and gas activities in the emerging region, a key area for near-term

Chevron’s recent breakthrough with ultra-high-pressure drilling at the Anchor project in the Gulf of Mexico could unlock over 5 billion barrels of previously inaccessible oil worldwide, including 2 billion barrels in the U.S. alone. This innovation marks a historic moment for ultra-deep reservoir exploration. How do you think advancements like these will shape the future of global energy markets? #EnergyInnovation #OilAndGas #DeepWaterDrilling https://bit.ly/4ebtPHl

🚀 **Exciting News for Suriname's Energy Sector!** 🌍 Petronas has made a significant discovery in Block 52 offshore Suriname, indicating potential production levels that could support a 100,000 barrels per day Floating Production Storage and Offloading (FPSO) unit. This discovery not only underscores Suriname's growing prominence in the global energy landscape but also promises substantial economic benefits and job creation for our nation. Here’s how this discovery benefits Suriname: 1. **Economic Growth** 📈: The development of this oil field can significantly boost our GDP, attracting further foreign investment and diversifying our economy. 2. **Job Creation** 👷♂️: From construction to operations, this project will create numerous job opportunities for local citizens, reducing unemployment and enhancing skill development in the energy sector. 3. **Infrastructure Development** 🏗️: Increased investment in oil and gas projects will lead to improved infrastructure, including better roads, ports, and facilities, benefiting the broader community. 4. **Increased Revenue** 💰: Higher oil production means increased revenue for the government, which can be reinvested into public services such as education, healthcare, and social programs, improving the overall wellbeing of our citizens. 5. **Technology Transfer** 🛠️: Collaboration with international companies like Petronas brings advanced technologies and best practices to Suriname, fostering innovation and enhancing our local capabilities. 6. **Energy Security** 🔋: Strengthening our energy sector ensures a more stable and secure energy supply for the nation, reducing dependency on imports and promoting self-sufficiency. Explore more about Suriname's oil and gas sector through this [ArcGIS Dashboard](https://lnkd.in/eGaFgymF) featuring detailed statistics on our oil and gas blocks. As we continue to explore and develop our natural resources, such achievements highlight the importance of investment in technology and sustainable practices to ensure long-term prosperity. #Suriname #EnergySector #OilAndGas #Petronas #SustainableDevelopment #FPSO #EconomicGrowth #JobCreation #InfrastructureDevelopment #RevenueIncrease #TechnologyTransfer #EnergySecurity #Esri #ArcGIS #GIS

Offshore Oil Production: Why Deepwater Drilling is the Future The oil and gas industry is undergoing a significant transformation. Offshore deepwater drilling is poised to dominate the industry in the 2020s, driven by technological advancements, improving economics, and growing demand for oil. Key Highlight ✅ Companies Involved: Major oil companies like ExxonMobil, Royal Dutch Shell, and Chevron invest heavily in offshore deepwater drilling. ✅ Regions Involved: • The Gulf of Mexico remains a hotspot for deepwater exploration. •  Brazil is leveraging its vast pre-salt reserves. •  West Africa is emerging as a promising frontier for deepwater oil production. ✅ Technological Driving Innovation: •   Cutting-edge seismic imaging and subsea equipment. •   Enhanced drilling techniques make operations safer, more efficient, and more cost-effective. ✅ Economic Impact: •  Job Creation: Offshore projects are creating thousands of direct and indirect jobs. •  Government Revenue: Increased oil production is boosting national economies. Food for Thought •               How do you see the rise of offshore deepwater drilling shaping the energy sector, the economy, and our environmental future? Will it complement the energy transition, or slow it down? Share your perspective in the comments! #OffshoreDrilling #DeepwaterDrilling #OilAndGas #EnergyTransition #Sustainability #EnvironmentalImpact #EconomicBenefits

🌍 World’s Deepest Offshore Oil Well to Be Drilled in Colombia 🌊 Energy exploration is reaching new depths - literally! Occidental Petroleum and Ecopetrol are set to drill the Komodo-1 well in Colombia’s Caribbean waters, aiming to break the record for the world’s deepest offshore well at nearly 13,000 feet. 🚀 With shale production slowing, the industry is shifting back to deepwater drilling, driven by energy demand and advancements in technology. The stakes are high with significant costs and risks, but the potential rewards - long-lasting reserves and a stronger global presence - make it worth the gamble. This push highlights the ongoing “renaissance” in offshore drilling, where deep-sea projects are expected to account for nearly a quarter of global oil output by decade's end. As technology evolves, we’ll continue seeing more bold moves into challenging environments that could reshape the future of energy supply. #OffshoreDrilling #EnergyInnovation #DeepwaterExploration #Colombia #OilIndustry (https://lnkd.in/dpB8diGN)

New drilling on tap for Namibia as crunch time looms A critical period approaches for new global upstream hotspot Namibia. Starting next month, a string of high-impact exploration wells will be drilled in the deepwater Orange Basin, home to multiple major discoveries. The wells will shape future oil and gas activities in the emerging region, a key area for near-term development in West Africa. Namibia burst on the scene earlier this decade with Shell's discovery of the Graff field, which was followed by several others. https://lnkd.in/dDGetgid

ReconAfrica expects to begin drilling the first Damara Fold Belt exploration well, called Naingopo (Prospect L), in June 2024. The Naingopo exploration well is targeting 163 million barrels of unrisked prospective oil resources or 843 billion cubic feet of unrisked prospective natural gas resources based on the most recent prospective resources report prepared by Netherland, Sewell & Associates, Inc. dated March 12, 2024. The well is expected to drill to a depth of approximately 12,500 feet or 3,800 meters and is projected to encounter four primary reservoir intervals targeting oil and natural gas. #oil #gas #KavangoBasin Reconnaissance Energy Africa Ltd. brian reinsborough mwanyengwa shapwanale Robert Mwanachilenga