Topic
exploration
Commodities India readies year-wise drilling, rig deployment roadmap for Samudra Manthan
India’s Oil Ministry is finalising a year-wise roadmap for drilling, seismic surveys and rig deployment under the $8.8 billion Samudra Manthan offshore exploration scheme. The programme, backed by ₹84,000 crore in Phase-1 funding, targets 10-15 million tonnes of oil equivalent of incremental annual production.
Commodities Equinor, Aker BP and Vår Energi join forces on Norwegian Continental Shelf exploration
Equinor, Aker BP and Vår Energi have formed a strategic exploration collaboration on the Norwegian Continental Shelf. They plan to mature and test 20-25 opportunities over four to five years, aiming to drill around five high-impact wells annually. The effort supports reliable European energy supplies amid an expected post-2035 production decline.
Commodities BP returns to Venezuela offshore gas with Loran Phase 2 licence award
BP has signed agreements with Venezuela to develop offshore gas, including the Loran Phase 2 exploration and production licence in the Plataforma Deltana area. BP will operate the project with equal partners XRG and UCC Oil and Gas, covering around 4 trillion cubic feet of recoverable gas. The deal marks BP's return to Venezuela's offshore gas sector as the country reopens to foreign investment.
Commodities ONGC and Shell Energy India sign MoU for deepwater blocks and LNG sourcing
Oil and Natural Gas Corp (ONGC) and Shell Energy India Private Ltd have signed a non-binding memorandum of understanding to jointly assess deepwater and ultra-deepwater offshore blocks under India's Open Acreage Licensing Policy, including OALP Rounds X and XI, and to explore LNG sourcing opportunities. The agreement, signed August 10, sets a framework for cooperation without committing either company to any specific investment or project.
Commodities TGS Launches 34,000 km Seismic Reimaging Project Offshore Egypt
Oslo-listed TGS and Egypt's EGAS have commenced the EGY-2DRE2026 project, covering 34,000 km of 2D seismic reimaging offshore Egypt. The industry-funded project combines GeoStreamer surveys from 2016, 2018, and 2023, with deliveries scheduled for Q2 2027 and Q1 2028.
Commodities India commits $8.8bn to accelerate offshore oil and gas exploration
India approved an investment programme worth up to 840.84bn rupees ($8.8bn) to accelerate offshore oil and gas exploration over five years, with the goal of adding more than 600m tonnes of discoverable oil equivalent. The National Offshore Exploration Scheme will run until end of the 2030-31 financial year and aims to reduce India's dependence on imported energy.
Commodities India approves Rs 84,084 crore Samudra Manthan scheme to cut crude import reliance
India's Union Cabinet has approved the Rs 84,084 crore Samudra Manthan National Offshore Exploration Scheme, under which the Centre will fund 50% of deepwater or ultra-deepwater exploration well costs, up to Rs 650 crore per well. The programme targets 60 exploration wells over five years as crude oil imports have climbed from 77% to 88% of domestic requirement in the past decade.
Commodities India to fund ₹650 crore per well for 60 deep-sea wells to break its oil import habit
India's Union Cabinet approved the ₹84,084-crore Samudra Manthan National Offshore Exploration Scheme, funding half the cost of deep-sea exploration wells up to ₹650 crore each for 60 wells over five years. The scheme aims to add 10-15 million tonne of oil equivalent annually, reducing import dependence by 3-5 per cent.
Commodities India's Samudra Manthan offshore exploration scheme targets game-changing oil and gas output
India's Union Cabinet approved the Rs 84,084 crore Samudra Manthan – National Offshore Exploration Scheme to add over 600 MMTOE of oil and gas reserves by FY 2030-31. The scheme follows a wake-up call from the Middle East conflict, which exposed India's 88.7% crude import dependence. Exploration momentum is already visible, with 172 blocks awarded and over $4.3 billion committed investment under the Open Acreage Licensing Programme.
Commodities Cabinet Approves Rs 84,084 Crore 'Samudra Manthan' Scheme for Oil & Gas Exploration
India's Union Cabinet approved the Rs 84,084 crore 'Samudra Manthan' National Offshore Exploration Scheme to boost domestic oil and gas production. The scheme aims to add over 600 MMTOE of hydrocarbon reserves, with incremental annual output of 10–15 MTOE, as India seeks to cut its ~90% oil import dependence amid Middle East tensions.
Commodities TGS Expands Global Seismic Footprint with Three New Projects in Norway, Canada, and Ghana
TGS has initiated three new seismic projects: the Atlantic Margin South Reprocessing in Norway, Orphan 3D PSDM phase 2 in Canada, and a 2D-cubed project in Ghana's Keta Basin. The projects employ advanced imaging technologies and are supported by industry funding. Deliveries are scheduled from Q3 2026 through Q1 2027.
Commodities SeaBird Wins Seismic Survey Contract Offshore India, Deploys Eagle Explorer
SeaBird Exploration, part of SED Energy Holdings, has secured a 2D seismic survey contract offshore India. The company will deploy the Eagle Explorer, with mobilisation expected in mid-July and utilisation through the first half of 2027. The award underscores growing demand for high-quality seismic data amid rising energy security concerns.
Commodities Petrobras and Pemex Sign MoU for Gulf of Mexico Oil and Gas Cooperation
Brazilian state oil company Petrobras and Mexican state oil company Pemex have signed a memorandum of understanding to cooperate on hydrocarbon projects in the Gulf of Mexico. The two-year agreement covers exploration and production in deepwater and mature fields, as well as industrial activities including refining, petrochemicals, and lower-carbon fuels.
Commodities TGS and SLB Launch Pelotas Sul 3D Seismic Survey Offshore Southern Brazil
Oslo-listed seismic data specialist TGS, in a joint venture with SLB, has announced the Pelotas Sul Phase 1 multi-client 3D seismic survey in the Pelotas Basin offshore southern Brazil. The survey covers approximately 13,500 sq km, with the Ramform Tethys mobilised and data acquisition expected to be completed in early Q3 2026. The Pelotas Basin has seen growing interest due to geologic analogues and underexplored play concepts.
Commodities ExxonMobil Proposes 35-Well Exploration Campaign Offshore Guyana in Stabroek Block
US supermajor ExxonMobil has proposed a new exploration and appraisal drilling campaign in the Stabroek block offshore Guyana, involving 35 wells across four prospect areas. The campaign is scheduled from 2028 to 2033, with a 28-day public consultation period opened by the Guyana Environmental Protection Agency. ExxonMobil currently produces 900,000 barrels per day in Guyana and plans to increase capacity to 1.7 million bpd by 2030.
Infant-Inspired Noise Boosts Deep RL Exploration, Research from arXiv Shows
A research paper posted on arXiv demonstrates that exploration noise inspired by infant spontaneous movements can improve learning efficiency in deep reinforcement learning. The authors found that babies' end-effector velocities follow a colored noise process, and mimicking this pattern in RL agents leads to better state-space coverage and structured exploratory behavior.
Commodities TGS signs up for major Equatorial Guinea offshore seismic megasurvey project
Oslo-listed TGS has signed an agreement with Equatorial Guinea's Ministry of Hydrocarbon and Mining Development for a large-scale multi-client seismic megasurvey. The first phase includes reprocessing of 27,273 km of 2D and 35,000 sq km of 3D data, with completion expected in Q3 2026. The full project aims to cover over 46,000 line-km of 2D and 59,000 sq km of 3D data across the Rio del Rey and Rio Muni basins.
Technology Control Resonant's Open World Encourages Exploration with Linear 'Dungeons'
Remedy Entertainment's Control Resonant emphasizes exploration in its open world, with linear 'dungeons' offering contrast. Lead level designer Anne-Marie Grönroos and art director Elmeri Raitanen discuss how the game encourages players to engage in side content.
Commodities Shearwater Wins ExxonMobil Seismic Survey Work Offshore Guyana for Yellowtail Fi
Norwegian seismic company Shearwater Geoservices has been awarded a distributed acoustic sensing (DAS) seismic program by ExxonMobil in the Stabroek Block offshore Guyana. The two-month scope involves source-only acquisition for a baseline reservoir surveillance survey over the Yellowtail development area, using the SW Empress vessel in triple-source configuration. Yellowtail is ExxonMobil's fourth and largest deepwater project in the block, with a production capacity of 250,000 bpd and 2 million barrels storage.
Commodities Aker BP and Viridien Partner for Norwegian Exploration
Aker BP and Viridien have formed a strategic partnership to enhance exploration efforts on the Norwegian Continental Shelf. The collaboration focuses on multi-client OBN seismic data acquisition and technology development.
Commodities OIL Discovers Natural Gas in Third Andaman Exploratory Well
Oil India Limited (OIL) has discovered natural gas in its third exploratory well in the Andaman offshore block, indicating significant hydrocarbon potential. This discovery follows a similar find in the second well, prompting further exploration activities.
Logistics Carnarvon hires Transocean rig for 2027 exploration
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