Petrobras has found another oil-bearing interval at the Morpho well offshore Brazil. New samples are under analysis, while further drilling will help assess the area’s commercial potential.
Egypt has opened a new tender for four Red Sea blocks, applying R-Factor production-sharing terms for the first time. The six-month round, managed by South Valley Egyptian Petroleum Holding, reflects Egypt’s plan to maximise its hydrocarbon resources.
Egypt has opened a four-block offshore licensing round in the Red Sea, inviting bids until May 2026 under a new R-factor-based production-sharing model.
