A Norwegian Offshore Directorate analysis of exploration activity from 2004-2023 shows that the discoveries are valued at three times the costs expended. 50 of 190 offshore discoveries have been developed and are producing, leaving three-quarters still to be developed. These investments will remain profitable as more fields come on stream.
Chevron, TotalEnergies begin oil production at Ballymore project in deepwater Gulf
Chevron and TotalEnergies have launched production at the Ballymore project in the deepwater Gulf...