Greece, which currently produces only small volumes of oil, is working to expand domestic natural gas resources to reduce reliance on imports. While renewables have increased in recent years, gas remains critical to the country’s power generation mix. The exploration push also aligns with the European Union’s strategy to diversify supply and reduce dependence on Russian energy following the invasion of Ukraine.
The Kuwait Foreign Petroleum Exploration Company (KUFPEC) has secured approval from the Indonesian government to develop the Anambas block in the Natuna Sea, Reuters reported on Thursday.
Venezuela on Wednesday granted a 20-year license to British energy producer BP and state-owned National Gas Company of Trinidad and Tobago (NGC) to develop the Venezuelan side of a natural gas field that extends into the Caribbean country’s waters.