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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
