Oil Majors Dive Into Deepwater Projects Despite Tight Budgets ...Middle East

OILPRICE - Economy

Oil and gas upstream majors — ExxonMobil, Shell, Chevron, BP, TotalEnergies and Eni — will continue to exercise caution in exploration spending this year, with drilling activity poised for a busy year ahead. According to Rystad Energy’s research, these major producers will have spent on average a combined $7 billion each year between 2020 and 2024, a sizeable drop from the previous four-year period during which average total spending was $10 billion. Despite tightened budgets, frontier drilling is fueling optimism for a productive…

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Oil Majors Dive Into Deepwater Projects Despite Tight Budgets ...Middle East

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