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Australia’s Santos lowers its 2026 production forecast to 99–102 million barrels of oil equivalent
Australian oil and gas producer Santos has lowered its full-year 2026 oil and gas production guidance from 99–105 million barrels of oil equivalent to 99–102 million barrels of oil equivalent, mainly due to production interruptions during the ramp-up of its Pikka oil project in Alaska, the United...Read more -
Cumulative oil production at Brazil’s Bacalhau oilfield has reached 25 million barrels
On the first anniversary of production start-up at Brazil’s Bacalhau field, Equinor disclosed that the field has produced a cumulative 25 million barrels of crude oil and completed 25 crude oil offloading operations. The field is located in the pre-salt ultra-deepwater area of the Santos Basin an...Read more -
The cumulative oil production from the secondary development of the Liuhua Oilfield, China’s first deepwater oilfield, has exceeded 2 million metric tons. SJPEE’s deoiling hydrocyclones are involved
The cumulative crude oil production of the secondary development project of the Liuhua Oilfield—China’s first deepwater oilfield—has officially exceeded 2 million tonnes. This marks that China’s secondary development model for mature deepwater oilfields has withstood the test of continuous produ...Read more -
Important progress has been made in ultra-deep exploration in the Tarim Basin: Well Zhentan-1 obtained Cambrian source-rock cores at 8,080 meters
Recently, PetroChina’s Tarim Oilfield has achieved a series of important results in ultra-deep exploration and development. The Hade–Fuman Oilfield has made a major breakthrough in cumulative oil and gas production from reservoirs deeper than 6,000 meters. At the same time, Well Zhentan-1, locat...Read more -
The United States plans to auction 15,100 oil and gas blocks in the Gulf of Mexico, covering 80.4 million acres
The U.S. Bureau of Ocean Energy Management (BOEM) has announced the fourth offshore oil and gas lease sale in the Gulf of Mexico. It plans to offer oil and gas companies approximately 15,104 unleased offshore blocks, with a total area of about 80.4 million acres (about 325,400 square kilometers)....Read more -
Chevron joins SLB and TotalEnergies’ Arena collaboration on digital subsurface technologies
SLB announced that the Chevron Technology Center has officially joined Arena, the long-term subsurface digital technology collaboration program established by SLB and TotalEnergies in 2024, to participate in the joint development of next-generation digital technologies for reservoir engineering a...Read more -
100-billion-cubic-meter deep coalbed methane field proven in the Sanjiaobei Block, Ordos Basin
PetroChina disclosed that the Sanjiaobei Block in Lüliang City, Shanxi Province, has added more than 100 billion cubic meters of proven geological reserves of coalbed methane. The newly added reserves have a contiguous gas-bearing area of 411.5 square kilometers, with coal seams buried at depths ...Read more -
Valeura Energy has discovered the new Suraphi oil field in the Gulf of Thailand
Valeura Energy announced the discovery of the new Suraphi oil field near the Manora oil field in Block G1/48 in the Gulf of Thailand. The discovery was made by the Manora-9 offshore exploration well and its sidetrack, located approximately 4.5 km northeast of the existing Manora A platform. Valeu...Read more -
Saudi capital invests $10 billion in Afghanistan’s oil and gas!
In September 2026, Saudi Delta Energy (Delta Energy) signed a series of oil and gas exploration and development agreements with Afghanistan, covering exploration in the Kushk-Tirpul Basin in the west, a study on natural gas utilization in Herat, and a proposed 700-km cross-border natural gas pip...Read more -
GeoPark signs 25-year contract to develop the Bare field in Venezuela
PDVSA, Venezuela’s state-owned oil company, and GeoPark have officially signed a 25‑year Production Participation Contract (CPP) for the Bare block. Bare is located in Venezuela’s Orinoco Heavy Oil Belt and is a mature heavy oil asset already in production. Under the contract terms, G...Read more -
Baker Hughes and BP have signed a contract for production enhancement services in the UK North Sea
Baker Hughes has been awarded a contract by BP for offshore production enhancement and wellbore stimulation services in the UK North Sea. The scope of work covers BP’s offshore operations on the UK Continental Shelf, supporting both new well development and enhanced oil recovery from mature field...Read more -
CNOOC and Kazakhstan deepen cooperation in geological exploration and oilfield services
According to KazMunayGas (KMG), the company recently held talks with CNOOC on the current status and future prospects of bilateral cooperation. According to KazMunayGas (KMG), KMG Chairman Askhat Khassenov met with CNOOC Chairman Zhang Chuanjiang in Astana, the capital of Kazakhstan. The two sid...Read more
