Page 6 - AfrOil Week 44

AfrOil NEWSBASE’S ROUNDUP GLOBAL (NRG) AfrOil

NRG: A balance between

optimism and caution

This week saw a number of optimistic upstream announcements, but with COVID-19 cases on the

rise in North America and Europe, there is cause for concern for the sector’s short-term outlook

GLOBAL WELCOME to the latest edition of NewsBase’s condensate reserves.
Roundup Global (NRG), in which our team of Indonesia has announced plans to work directly
international editors provide you with a snap- with developers to help optimise their production
shot of some of the key issues affecting their operations in a bid to reach the country’s 2030 out-
regional beats. Get the NRG Oil & Gas Editor’s put targets. Kazakhstan has launched the country’s
Picks to your inbox every week for free. Just sign first ever online upstream auction as the govern-
up here. ment strives to attract oil and gas investment.
There was good news in the upstream this week In the Western Hemisphere, ExxonMobil has
as several positive announcements were made raised the reserve estimate for its Stabroek block
across a number of regions regarding production, offshore Guyana, while at the same time entering
reserves and activity. talks with the government over a gas supply deal.
Libya has not only announced rising produc- Drilling and hydraulic fracturing activity are on
tion levels but also a new upstream joint venture the rise in North America, with started jobs and
with Wintershall Dea. South Africa, meanwhile, rig counts both rebounding from lows seen earlier
has seen the discovery of sizeable offshore gas this year.

P6 www. NEWSBASE .com Week 44 04•November•2020