Deep Dives
Welligence Development | Venezuelan gas – an overlooked opportunity
Venezuela’s gas potential flies under the radar due to the country’s dominant oil profile – indeed, nearly all commentary since Maduro was removed from office…
Read MoreWelligence Cote d’Ivoire M&A | SOCAR takes 10% in Baleine and enters Côte d’Ivoire
SOCAR’s acquisition of a 10% interest in the Baleine deepwater field in Côte d’Ivoire provides the Azerbaijani national oil company with immediate exposure to producing…
Read MoreBrazil M&A | Brava expands Campos position as PETRONAS repositions and exits Tartaruga Verde & Espadarte Mod. III
On 16 January 2026, Brava announced the acquisition of PETRONAS’ 50%, non-operating interest in Tartaruga Verde and Espadarte Module III in the deepwater Campos Basin.…
Read MoreWelligence Mexico M&A | LUKOIL makes first divestment as Grupo Carso expands upstream portfolio
On 19 January, Grupo Carso announced the acquisition of Fieldwood Mexico, a subsidiary of LUKOIL, for US$600 million, comprising US$270 million cash and the assumption…
Read MoreWelligence APAC | What to look for in 2026
Asia Pacific upstream in 2026 is shaping up to be a catalyst-driven year, with portfolio rationalisation accelerating alongside a renewed push to explore frontier basins…
Read MoreWelligence Sub-Saharan Africa Q4 2025 M&A Quarterly | A late rebound in an otherwise selective M&A year
Sub-Saharan Africa upstream M&A saw a late-year rebound in Q4 2025 as deal-making returned after a quiet third quarter. Transactions in Nigeria, Angola and Namibia…
Read MoreWelligence Norway Licensing | APA 2025 Licensing Round: more licences, fewer players
On 13 January 2026, the Norwegian Offshore Directorate (NOD) announced the award of 57 production licences to 19 companies as part of the APA (Awards…
Read MoreWelligence MENA Q4 2025 M&A Quarterly | Two deals announced, as MENA M&A remained subdued into year-end
Two deals were announced in Q4 2025. One in Egypt and one in Oman. This marked an increase in deal activity from the previous quarter;…
Read MoreWelligence Sub-Saharan Africa | What to look for in 2026
Upstream activity in Sub-Saharan Africa enters a pivotal year in 2026 as operators push frontier and mature plays. Onshore efforts in Uganda, Kenya, Namibia and…
Read MoreArgentina M&A | Continental Resources expands Vaca Muerta portfolio with acquisition from PAE
On 5 January 2026, Continental Resources (CLR) announced the acquisition of 20% non-operated stakes of Pan American Energy’s (PAE) participation in four Vaca Muerta shale…
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