Deep-water feeding frenzy in South America
Brazil and Guyana lead enthusiasm in continent’s deep waters
Good reservoir quality and improved upstream terms have combined with cost declines and firmer oil prices to spark enthusiasm for deep offshore oil exploration in South America. Analysts say that while the stars of the show remain Brazil and the growing Guyana offshore province, opportunities are also being offered offshore Argentina, Uruguay, and Peru. The enthusiasm is reflected in rig prospects. Transocean Ltd, the world's leading deep offshore exploration rig operator, cites Harakat data in suggesting that offshore South American's Atlantic coast will host the world's third-largest volume of exploration programs over the next 18 months , with five, well behind Northwest Europe's total of
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth