Due to the Caspian Sea Shallowing KazMunayGas and LUKOIL Will Build a Canal
A “one-time” passage is necessary for the development of the Kalamkas-Sea and Khazar hydrocarbon fields. KazMunayGas and LUKOIL will build a canal in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This will have to be done due to the drop in the Caspian Sea level. Thus, the …
Sakhalin-1 Contractor Wins $9.6 Million Lawsuit Against U.S. Firm Parker Drilling
The Moscow Arbitration Court has granted the claim of Sakhalin Drilling Services LLC against its former American owner — Parker Drilling Management Services, Ltd. (PDMS) — in the amount of $9.854 million (944 million rubles, according to the court’s calculation), according to the case file materials from the arbitration registry. …
Gazprom Neft and Innopolis University to Create a Digital Platform for Subsurface Research
Gazprom Neft, Innopolis University, and Nedra Digital will develop a digital system for geomechanical modeling of oil and gas fields. The innovative platform based on artificial intelligence will assist in subsurface research and the selection of optimal tools for field development. Geomechanical modeling is one of the key stages in …
LUKOIL Faces Logistics Challenge in Kazakhstan Project Due to Caspian Sea Shallowness
KazMunayGas (“KMG“) and LUKOIL will build a channel in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This is stated in the project participants’ environmental impact assessment report. The contract area is located in the Kazakh sector of the Caspian Sea, 120 km southwest of the Kashagan field. …
California Wants to Simplify the Issuance of Oil Drilling Permits
California Governor Gavin Newsom has announced a legislative proposal aimed at simplifying the process for issuing licenses for new oil well drilling. However, environmentalists argue that the bill would strip authorities of essential oversight, according to Bloomberg. The bill outlines a “plug-to-drill” approach through 2036: in order to drill one …
Chevron Completes Acquisition of Hess Following Court Victory Over Exxon
American Chevron, as promised, closed the deal to acquire its competitor Hess within 48 hours after the International Chamber of Commerce (ICC) arbitration ruled in favor of Chevron in the case filed by ExxonMobil and CNOOC regarding pre-emptive rights to purchase Hess’s 30% stake in the Stabroek Block in Guyana, …
Vaar Energi Discovers New Oil and Gas Field in the Norwegian Sea
Norwegian oil company Vaar Energi announced on Monday the discovery of an oil and gas field at the Vidsyn block in the Norwegian Sea. According to preliminary data presented by the company, recoverable reserves at the new field are estimated in the range of 25 million to 40 million barrels …
Gas Production in Uzbekistan Decreased by 3.1% in the First Half of the Year
Natural gas production in Uzbekistan in January–June decreased by 3.1% compared to the same period last year, amounting to 21.786 billion cubic meters, while oil production dropped by 11.2% to 323.8 thousand tonnes, according to the national statistics committee of the republic. Additionally, gas condensate production in the country decreased …
Italian Company Eni to Sponsor Gas Field Development in Indonesia
Italian energy company Eni plans to invest $10 billion in the development of offshore gas fields in Indonesia’s East Kalimantan province, according to Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia. “The proposed investment of ten billion dollars in East Kalimantan will be directed toward the development of offshore …
Explore the Ever-Changing Aspects of the Oil and Gas EPC Market
With new technologies, ever-rising demand, and renewed sustainable spree, the EPC market is changing its landscape. Explore how recent technological changes and sustainable demand support the expansion of the oil and gas EPC market. In the ever-changing world of the oil and gas EPC market, upgradation and exploration are not …