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
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well