COMPETITIVE INTELLIGENCE DATA

Oilfield service companies in Russia expect reduced demand from customers as a result of Moscow's decision to scale back crude production.

The company's spending plans for the next five years put it in a similar league to Western majors, with growth in LNG a key focus.

A number of oil and gas producers have advanced bid round offerings going into 2023, with a strong slate of opportunities through the rest of the year. With multiple exploration successes in the Mediterranean Sea and Nile Delta areas, Egypt has a series of offerings underway throughout 2023 as existing offshore operators also advance key exploration targets in the near term. In newer frontier plays, the currently open Guyana round is expected to close shortly, with key offshore players Chevron, Shell and Petrobras reportedly bidding. A round in Suriname is underway, a new offshore round in Barbados is pending and recent awards in Uruguay to APA Corp. and Shell underscore regional investor interest.