The US Gulf of Mexico is making a comeback this year.
Chevron has announced plans to buy fellow US oil and gas operator Anadarko Petroleum in a deal worth £38.2bn, the largest upstream takeover since 2015.
Future spending on oil and gas projects will need to increase by around 20% in the next decade in order to meet demand, according to a leading consultancy.
A surge in oil demand in India could lead to long-term trade with Europe, according to analysts WoodMackenzie.
Analysts Wood Mackenzie say around 30 major oil and gas projects are expected to reach final investment decisions (FIDs) this year.