The majors have expanded their list of potential upstream projects for future development with a series of ofshore discoveries near existing felds. Recent success in the deepwater US Gulf and the North Sea refects a growing bias towards infrastructure-led exploration over higher-risk frontier drilling. The companies have refrained from estimating the size of their new discoveries until well data can be properly evaluated and appraisal drilling conducted. But early indications suggest that the fnds are signifcant. And at least three appear to be prime candidates for development as capital-efcient tie-backs.
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