News & Insights
Westwood Insight – Key offshore themes from 1Q 2022
Westwood Global Energy Group has released its latest tranche of comprehensive quarterly offshore market reports and with it can reveal a few interesting offshore themes that emerged from the first quarter of 2022.
The emerging Orange Basin oil province in Namibia – a new global hot spot for exploration
Two significant oil discoveries announced by Shell and TotalEnergies in February 2022 have opened multiple new oil plays offshore Namibia. The excitement is understandable, but how significant could the breakthrough prove to be and what challenges need to be overcome to realise the potential?
Improving Consenting to Accelerate UK Offshore Wind Deployment
As part of its updated energy strategy to increase energy security and accelerate the energy transition, the UK is expected to increase its offshore wind targets, which currently stand at 40GW by 2030 and 100GW by 2050.
News & Insights
Westwood Insight – Global Land Drilling Rig Activity Boosted as Oil Prices Break $100
At the beginning of January 2022 Brent prices were at $78 a barrel, well above the nadir of 2020 when they reached a low of $9 a barrel. What has been seen since has been well outside of most forecasts, with Brent prices breaching $100 a barrel on the 24th of February 2022.
News & Insights
Westwood Insight – RigLogix Advanced: Launch of the Global Offshore Rig Market Report
January 2022 marks the launch of Westwood Global Energy’s much anticipated Global Offshore Rig Market Report
News & Insights
Westwood Insight – 2021 High Impact Exploration – lowest discovered resource outside Russia for more than a decade
Despite the energy transition, the E&P sector has so far maintained the high impact well count. Whether this will continue beyond 2022 is the question.
