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Global exploration shrinks amid shift to lower-risk core assets

GLOBAL oil and gas exploration is set to falter this year as the number of licensed blocks and total acreage fall to near all-time lows as the sector struggles to shake off the effects of the Covid-19 pandemic and a possible ensuing oil market crash, Rystad Energy research shows.

Tim Daiss
Global exploration shrinks amid shift to lower-risk core assets

Only 21 lease rounds were completed globally through August this year, half of the 42 rounds held in the first eight months of 2021., the note adds The acreage awarded so far this year has shrunk to a...

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