ENERGY ANALYTICS’ Post

Oil Majors Show Interest in Galp's Namibia Offshore Oil Prospect More than 12 major oil companies, including Exxon, Shell, and Chevron, are showing interest in acquiring a 40% stake in Galp Energia's significant oil discovery offshore Namibia. Galp's Mopane discovery, estimated to hold at least 10 billion barrels of oil and gas equivalent, could be valued at over $10 billion. Galp launched the sale process for half of its 80% stake in Petroleum Exploration Licence 83 in April. Several companies have already signed agreements to access geological data and placed non-binding offers. Source: https://lnkd.in/ejCi7pXh #OilIndustry #EnergyNews #OffshoreDrilling #GalpEnergia #NamibiaOil #Exxon #Shell #Chevron #OilExploration #EnergyTransition #FossilFuels #EnergyConsultants #OilAndGasConsultants #PetroleumConsultants #DrillingConsultants #OilAndGasConsultingFirms #OilAndGasProjectManagementServices #OilAndGasStaffing #OilfieldStaffingAgency #OilAndGasRecruitingAgency #OilAndGasWorkforceSolutions

More than 12 companies show interest in Namibia oil discovery More than 12 oil companies, including ExxonMobil, Shell and Brazil’s national oil company, have expressed interest in buying a 40% stake in Galp Energia’s major oil discovery offshore Namibia, it has been reported. Galp’s Mopane discovery, which is estimated to hold at least 10-billion barrels of oil and gas equivalent, could be valued at US$10bn, according to some estimates. In April, Galp launched the sale process for half of its 80% stake in Petroleum Exploration Licence 83 (PEL 83) as well as the right to become its operator. More than a dozen companies including ExxonMobil, Chevron, Shell, TotalEnergies, Brazil's Petrobras, Australia’s Woodside Energy and US producer Apache Energy have signed agreements to access geological data of the field. https://lnkd.in/dvE3qXTp

#OGC_EnergyAnalytics 💼 Chevron is an American energy company and one of the largest corporations in the world. Its main energy resources are located in the United States, Australia and Kazakhstan. In 1993, Chevron became the first foreign energy company to operate in Kazakhstan by establishing Tengizchevroil LLP. The Company actively participates in the share of the CPC Consortium (15%). It is also a shareholder of Tengizchevroil (50%) and Karachaganak Petroleum Operating B.V. (KPO) Petroleum Operating B.V. (18%). 18% of Chevron's oil reserves are held by Tengizchevroil (TCO). TCO provided 1/3 of the Kazakhstan's tax revenue. The company's key performance indicators: proved reserves (1P) have been stable around 11 billion boe* for the last three years. By product category in 2023 - oil 43%, gas 46%, NGL 11%. Previously we wrote about ExxonMobil, whose 1P reserves was 16,9 billion boe last year. National Company KazMunayGas 1P reserves - 3,9 billion boe. Chevron's production for 2023 was 3,1 million boed**, which is five times more than KazMunayGas's production (0,6 million boed) and 0,6 million less than ExxonMobil's. The number of Chevron employees is 45 600 people. For comparison, according to KazMunayGas 2022 data, the national company employed over 47 500 people. *boe - barrel of oil equivalent **boed - barrels of oil equivalent per day

Sample of Oil and Gas Projects (July 24): natural resources are essential for enhancing the security and affordability of energy and resource supplies. 1. Kuwait Oil Co. has announced a significant offshore oil and gas discovery in the Al-Noukhitha offshore field. The discovery is estimated to contain approximately 3.2 billion barrels of oil equivalent,  including 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of natural gas. Kuwait, the fifth-largest producer in OPEC, currently produces around 2.48 million barrels per day and plans to increase its capacity to 4 million barrels per day by 2035. 2. ExxonMobil announces a 30-well drilling campaign for its seventh oil and gas project in Guyana, set to start production in 2029. The project aims to increase the country's oil output to over 1.4 million barrels per day, with Exxon managing all oil production operations in Guyana. 3. Bolivia has recently discovered a $7 billion natural gas reserve, marking the largest find since 2005. This new reserve will significantly boost Bolivia's existing natural gas resources. The country is currently grappling with an energy crisis caused by declining oil and gas production. Natural gas production in Bolivia has dropped from 56.6 million cubic meters per day (MMcmd) in 2016 to 31.9 MMcmd in 2023.. 4. New Zealand plans to lift the ban on oil and gas exploration this year due to energy security concerns stemming from the depletion of natural gas reserves. The aim is to utilise the country's natural resources to enhance energy and resource supply security, boost regional economic growth, and enhance New Zealand's self-reliance to mitigate risks from global market fluctuations....... https://lnkd.in/d9YUT5Zr

More than 12 companies show interest in Namibia oil discovery: More than 12 oil companies, including Exxon, Shell and Brazil’s national oil company, have expressed interest in buying a 40% stake in Galp Energia’s major oil discovery offshore Namibia, it has been reported. Galp’s Mopane discovery, which is estimated to hold at least 10-billion barrels of oil and gas equivalent,

🛢 ConocoPhillips is an American oil company, one of the world leaders of proved oil and gas reserves. The company is currently active in 13 countries. In 2012, ConocoPhillips split into two companies that were listed on the stock exchange. One retained the original name and focused on exploration and production, while the other (Phillips 66) went into refining and marketing. This was the largest separation in the history of energy companies and proved to be an effective move for investors. 💵ConocoPhillips was previously an investor in Kazakhstan, holding 8.4% stake in the NCOC developing the Kashagan field. In 2013, the company sold its shares in the consortium to JSC NC "KazMunaiGas". In addition, KazMunaiGas acquired ConocoPhillips' stake in offshore oil Block N. By selling its assets, ConocoPhillips ended its operations in the Kazakhstan market. 📊The company's key indicators: proved reserves (1P) at the end of 2023 totalled 6.4 bln barrels of oil equivalent (boe). Over the last two years, the company has achieved 1P level above 6 bln boe. Previously, this figure was only achieved in 2014. By product category in 2023: oil 49%, gas 36%, NGL 15%. Earlier we published about similar indicators of Shell ExxonMobil and Chevron. ConocoPhillips' production for 2023 was 1.7 million boe/d, which is three time as much as KazMunaiGas's production (0.6 million boe/d). In addition, the company has only 9 900 employees. Meanwhile, KazMunaiGas had over 47.5k employees according to 2022 data. P.S. In 2021 I personally invested in ConocoPhillips shares and in 2023 I sold them with a profit of 90%. My choice in favour of this company was based on a thorough analysis of more than 100 companies, as well as the prospects for growth in proven reserves. #OGC_EnergyAnalytics

Chinese energy giant CNOOC Ltd reported a 12.6% decrease in net income for 2023 compared to its record-high earnings in the previous year. This decline was attributed to lower hydrocarbon prices, although the company’s emphasis on cost management and reserve expansion helped alleviate the impact. https://lnkd.in/dyBaC3YZ OPEC aramco U.S. Energy Information Administration World Oil African Energy Chamber Nigerian Content Development and Monitoring Board Founder Institute Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Nigerian Content Development and Monitoring Board TotalEnergies Government of Nigeria NNPC Limited PETAN Petroleum Technology Association Nigeria TotalEnergies Axxela Group LEKOIL Limited Famfa Oil Limited Seplat Energy Plc ADNOC Group Nigeria LNG Limited Addax Petroleum MRS Oil Nigeria Plc Oando Plc Chevron Shell ExxonMobil Oilserv Limited Dangote Oil Refinery Nigeria Sure4Jeri Oil & Gas Nigeria Limited Al-Ihsan OilandGas Ardova Plc Techno Oil Limited Conoil PLC Jimcol Resources Nigeria Limited Dovewell Oilfield Services Limited Eland Oil & Gas Chibeco Oil & Gas Nigeria Limited West Atlantic Energy Nigeria Ltd

Mexico's upstream oil and gas activity faces a slowdown in 2024, with companies returning exploration blocks due to limited opportunities. As President López Obrador maintains policies discouraging investment, experts suggest a pivotal moment for Guyana's thriving oil sector. Pedro Martínez of S&P Global highlights Mexico's shift, emphasizing underwhelming exploration results. Guyana, Suriname, and Brazil emerge as attractive alternatives. Amid Mexico's decline, Guyana experiences remarkable growth since ExxonMobil's 2015 oil discovery. Production exceeded 500,000 barrels/day in 2023, targeting 1.2 million by 2027/2028. With eight new blocks set for award, Guyana's sector booms. Explore the flourishing potential and positive momentum in Guyana and Suriname's oil and gas sectors, click the link to read more: https://shorturl.at/agjwE Source: Oil Now #ElDoradoOffshore #EveryoneDeservesOpportunities

Chevron and Venezuela's PDVSA have formally requested a 15-year extension for their Petropiar joint venture in the Orinoco Belt, aiming to boost crude production from 110,000 bpd to 150,000 bpd. This extension, spanning 2033 to 2047, includes plans for $2.39 billion in investments and drilling up to 386 new wells. The outcome of this request will significantly impact Venezuela's oil production landscape and economic stability. Read more: https://lnkd.in/e6xr2djn #OilAndGas #EnergyIndustry #Chevron #PDVSA #Venezuela #Petropiar #EnergyInvestments #AriesOne #EnergyConsultants #OilAndGasConsultants #PetroleumConsultants #DrillingConsultants #OilAndGasConsultingFirms #OilAndGasProjectManagementServices #OilAndGasStaffing #OilfieldStaffingAgency #OilAndGasRecruitingAgency #OilAndGasWorkforceSolutions

Evolution of Proven Oil Reserves of Major Oil Companies (SEC) over the last ten years. In 2020, almost all companies experienced a decline in reserves, which was caused by low prices and asset revaluations. This trend continued in the following years: for example, ExxonMobil's reserves declined from 19 billion barrels of oil equivalent (boe) in 2021 to almost 17 billion boe in 2023. Other major companies such as TotalEnergies and bp are showing similar trends. Of particular interest is bp's 2.5 times reduction in reserves. As we said earlier, this is due to the company's decision to refuse to participate in oil and gas projects in Russia, as well as insufficient investment in exploration. Companies with state ownership (such as Petrobras, Eni, Equinor) have more stable reserve dynamics over the last decade. Although the indicators have been decreasing in recent years, the overall downward trajectory of many large companies is not as steep. Therefore, it can be assumed that even with the increasing interest in green energy, oil and gas reserves remain important for investors. Reserves are measured in billions of barrels of oil equivalent and are estimated according to the SEC system. Detailed information about each company and their key indicators in recent years can be found by the hashtag #OGC_EnergyAnalytics