During a conference in Houston, Texas, SLB CEO Olivier Le Peuch unveiled a surge in exploration activities in frontier areas, notably in countries like Namibia, Surinam, and Guyana, hinting at a wave of upcoming projects.
Le Peuch highlighted a resurgence in exploration efforts over the past few years, pointing to countries such as Namibia as paving the way for the next phase of exploration.
Despite yet to commence oil and gas production, Namibia anticipates its inaugural output from major offshore discoveries by 2030.
Moreover, Le Peuch emphasized companies’ strategic focus on exploration endeavors in regions with existing infrastructure, indicating a pragmatic approach to resource development.
According to the U.S. Energy Information Administration, a significant portion of new oil production is expected to originate from the United States, Canada, Guyana, and Brazil in the foreseeable future.
In particular, Exxon Mobil aims to escalate oil production to 1.2 million barrels per day by 2027 in Guyana, marking a substantial milestone 12 years after its initial exploration activities in the South American nation.
