exploration

It has bought the shares in KrasGeoNac (KGN), which holds 12 conventional onshore exploration and production licences in Eastern Siberia

The review looks to ensure the government has the necessary information to plan for continued oil and gas production in a manner ‘aligned with tackling climate change’

The find would boost the country’s existing reserves of 150 billion barrel by a third

He helped steer the oil giant back following the 2010 Deepwater Horizon which brought the company close to collapse

It will be active in the exploration and development of oil and natural gas projects only in the US

The territory extends from the shoreline to around 215 kilometres offshore, with depths of up to 4,000 metres at points

It is expected to help unlock new investment and technology and more exploration activity

The government intends to make the fund less vulnerable to a permanent drop in oil prices

Work under the contract has been suspended since 2014

This figure totals almost as many wells as it has drilled since the company was established in 1972