en.Wedoany.com Reported - Saipem has chartered Solstad Maritime's Normand Navigator to commence operations for the GranMorgu offshore project in Suriname. The vessel arrived at the commercial quay of Paramaribo's Jules Sedney Port in late June and will carry out preliminary preparations locally.

Located in Block 58, 150 kilometers off the coast of Suriname, the GranMorgu project will become the country's first major offshore oil development. Awarded to Saipem in 2024, the contract covers engineering, procurement, supply, construction, installation, pre-commissioning, commissioning, and start-up support for the subsea umbilical, riser, and flowline (SURF) package, with water depths ranging from 100 to 1,100 meters.

Saipem has also secured a major logistics hub at the Jules Sedney Port commercial quay, covering 30,000 to 40,000 square meters. All pipes, equipment, and standard containers arriving here will be received, processed, and stored before being loaded onto supply vessels for transport to the offshore field. The company is also utilizing the DORDT offshore support base in Paramaribo for the reception, storage, and management of heavy subsea structures and manifolds.

TotalEnergies serves as the operator of the GranMorgu project, holding a 40% interest, with partners APA Corp. and Staatsolie holding 40% and 20%, respectively.

Repsol has signed a Memorandum of Understanding (MoU) with Petróleos de Venezuela (PDVSA) to explore the potential development of the Horcón area in the southeastern part of Lake Maracaibo. The Horcón area is located between the Barúa and Motatán fields, the latter already part of Repsol's asset portfolio in Venezuela. This portfolio also includes the producing fields of Petroquiriquire and Petrocarabobo, as well as the Cardón IV gas asset. During the signing, both parties discussed the operational progress of Repsol's assets in Venezuela and investment plans for continued exploration and growth. Repsol has maintained operations in the country since 1993.

Suriname's President Jennifer Simons announced that Petronas has made another gas discovery in Block 52 offshore Suriname. Located approximately 170 kilometers north of Paramaribo, the block covers an area of 4,749 square kilometers. Petronas Chief Operating Officer Mohd Jukris Abdul Wahab stated at an energy conference that the company has achieved eight successful exploration discoveries in the country, unlocking over 1 billion barrels of oil equivalent, while continuing to advance low-carbon solutions, ensure safe operations, and invest in people, technology, and capabilities to create long-term value for the nation.

Occidental Petroleum has purchased a 10% interest in the deepwater exploration block UD(1) offshore Trinidad and Tobago from ExxonMobil. Prior to the transaction, the block was wholly owned by ExxonMobil; financial details were not disclosed. ExxonMobil was awarded the block in August last year. UD(1) is located in water depths of 2,000 to 3,000 meters, near Guyana's Stabroek block, which has seen over 30 discoveries since 2015. Seismic exploration is underway in the block, and an ExxonMobil executive vice president stated that data acquisition is expected to be completed by the end of July, with interpretation potentially concluding by the end of 2026.

Shell has reported "encouraging exploration results" from its Merlin-1X well offshore Namibia. The company, together with partners QatarEnergy and NAMCOR, announced the successful penetration of the Coniacian layer, which has provided the most favorable subsurface results to date in Petroleum Exploration License (PEL) 0039. The Merlin-1x well is the 10th well drilled in PEL 0039. Shell stated it is considering further drilling within the license later in 2026.

Murphy Oil Corp. has announced an oil discovery at the Bubale-1X exploration well in Block CI-709, approximately 40 miles off the coast of Côte d'Ivoire. The well was drilled to a total depth of 20,548 feet in 7,795 feet of water, encountering 100 feet of net oil pay in two reservoirs. Murphy Oil President and CEO Eric Hambly stated that the early results from Bubale solidify the company's exploration prospects in the Côte d'Ivoire block. Bubale-1X is the third and final well in the country's exploration campaign, and the company will continue to advance exploration, planning to drill a well this year to test the scale of the discovery. Murphy Oil serves as operator with a 90% interest, while partner Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire holds the remaining 10%.

BP has started non-associated gas (NAG) production from the Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea, off the coast of Azerbaijan. This announcement marks the first commercial gas output from the field. The NAG well, drilled from the existing West Chirag platform, has enabled early production and provided critical reservoir and flow data. According to BP, the NAG resources in ACG are estimated at 4 trillion cubic feet of recoverable reserves, with a potential upside of up to 6 trillion cubic feet. The well targets two priority NAG reservoirs: the shallower Qirmaki Upper Sand and the deeper Qirmaki Lower Sand, both located beneath the current oil-producing reservoirs. Produced gas and condensate will be transported via existing ACG infrastructure to the Sangachal terminal. Gio Cristofoli, BP's Regional President for Azerbaijan, Georgia, and Türkiye, stated that ACG is opening a new chapter nearly 30 years into oil production and still holds the potential to create value for the country and its investors.

MOL Group, together with joint venture partners Repsol and Türkiye Petrolleri A.O. (TPAO), has signed a production sharing agreement for an offshore Mediterranean exploration area. MOL Group and its partners won the bid for an exploration license for the O7 offshore block earlier this year. Located approximately 140 kilometers northwest of Benghazi, the block covers an area of over 10,300 square kilometers with water depths exceeding 1,500 meters. The exploration agreement includes the acquisition of 1,500 kilometers of 2D and 2,300 square kilometers of 3D seismic data, as well as the drilling of one exploration well. Repsol serves as operator with a 40% interest, while TPAO and MOL Group hold 40% and 20%, respectively.