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High hopes and dry wells in the Black Sea
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
The global offshore bonanza
Offshore operators are working through an FID backlog as the rig market consolidates, helped by improving project economics and a renewed security drive
Venezuela already making oil comeback
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
Libya's potential goes unrealised
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
Touchstone advances Central strategy
Canadian independent’s evolving portfolio in Trinidad and Tobago gives it access to the Atlantic LNG market and a close-up view of developments in neighbouring Venezuela
Upstream looks to deepwater rescue
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
Kazakhstan lays groundwork for transformation
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
Nigeria in upstream charm offensive
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
Letter from Saudi Arabia: Big oil meets big shovel
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
Venezuela mismanaged its oil, and US shale benefitted
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
Invictus Energy is pioneering upstream development in Zimbabwe
Zimbabwe Upstream
Simon Ferrie
23 February 2024
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Invictus working on Zimbabwe PSC

The once-pariah nation could become a regional exporter in energy-starved southern Africa, according to MD Scott Macmillan

ASX-listed independent Invictus Energy is pioneering upstream development in Zimbabwe. Managing Director Scott Macmillan spoke with Petroleum Economist about the company’s progress and plans. Can you give us an update on progress at your Mukuyu project? Invictus Managing Director Scott Macmillan Macmillan: In December 2023, we declared two gas discoveries from our Mukuyu-2 well drilling programme in the Upper and Lower Angwa reservoirs, with the recovery of moveable hydrocarbons to the surface. Subsequently, Mukuyu-1 has also been classified as a discovery in the Upper Angwa, which was successfully drilled in late 2022, confirming the p

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High hopes and dry wells in the Black Sea
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya

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