The US’ Lease Sale Big Beautiful Gulf 1 lease sale in the Gulf of America has generated $280 million in high bids for 181 blocks across 80 million acres.
The US’ Lease Sale Big Beautiful Gulf 1 lease sale in the Gulf of America has generated $280 million in high bids for 181 blocks across 80 million acres. Thirty companies submitted bids totalling $372 million. The US Bureau of Ocean Energy Management offered approximately 15,000 unleased blocks across the Western, Central and portions of the Eastern Gulf Planning Areas. To encourage strong participation and spur investment, a 12.5% royalty rate was applied for shallow and deepwater leases, the lowest deepwater rate since 2007.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched the Nigeria 2025 Licensing Round. The round includes 15 onshore blocks, 19 in shallow waters, 15 frontier assets and one deepwater block. https://br2025.nuprc.gov.ng/
Greenpeace has welcomed the British government’s North Sea Future Plan, in which it has confirmed that no more licences for new oil and gas will be issued, Greenpeace UK’s co-executive director, Areeba Hamid, said: ‘The government has shown genuine global climate leadership, making the UK the world’s largest economy to call time on new fossil fuel exploration. This is a major milestone.’
TGS has launched a multi-client 2D-cubed project covering the offshore India Andaman region. 2D-cubed is a structurally conformable interpolation technology that transforms 2D seismic data into a regional-scale 3D volume. The project covers 640,000 km2, providing insights into the siliciclastic shallow and deepwater sediment basins of this region. The project area covers four of the OALP-X Bid Round blocks in the Andaman-Nicobar basin.
Harbour Energy has agreed to sell its operated interests in the producing Natuna Sea Block A field and the Tuna development project in Indonesia to Prime Group for $215 million.
Chevron has announced capital expenditure of $18 to $19 billion for 2026.
