Traditional Oil Pumps are being Replaced with Hydraulic Drives for Rod Pumps
PJSC TATNEFT is implementing installations for the hydraulic drive of sucker rod pumps (SHSN). They are an alternative to traditional pumping units. The innovation can reduce the cost of installation and operation of equipment. Neftyanye Vesti write about it. The hydraulic drive can set the optimal movement of the plunger …
Oilfield Services Companies Received Record Revenue in Russia in 2022
The revenue of oilfield services companies in Russia in 2022 reached a record level since at least 2018 (latest available data) and amounted to 1.79 trillion rubles. This is stated in the review of Kasatkin Consulting (ex-Deloitte team in Russia), which Vedomosti got acquainted with. According to analysts, last year …
TotalEnergies to Split Production at Site in Brazil
France’s TotalEnergies has signed a production sharing agreement for its Agua Marinha block with other operators, the company said in a press release. “TotalEnergies and its partners Petrobras, QatarEnergy and Petronas Petróleo Brasil Ltda (PPBL) signed a production sharing agreement for the Agua Marinha block on May 31, 2023,” the …
It is Planned to Ensure the IT Independence of the Russian Oil and Gas Industry by 2028
For this, a consortium of leading fuel and energy companies is being created. Oil and gas companies plan to create an industrial consortium “Neftegaz”. With its help, they expect to completely cover the IT needs for the industry with domestic solutions by 2028. This was stated by the head of …
Lukoil Named the Volume of Investments in Exploration and Production in 2022
Lukoil’s investments in exploration and production of hydrocarbons in 2022 amounted to more than 400 billion rubles, follows from the presentation of the company’s vice president Ilya Mandrik at the conference “Hard-to-recover reserves – the present and the future.” The materials report that the company invested more than 400 billion …
China’s CNOOC Starts Production at a Large Field in Brazil
China National Offshore Oil Corporation (CNOOC), China’s state-owned oil and gas corporation, has started production at Brazil’s large Buzios field, the company said in a statement. It is noted that the Buzios oil field is located in the Santos oil and gas basin in the southeast of Brazil at a …
BP to Send Topsides of New Platform at ACG Block to Sea in June
The dispatch to the sea of the topsides of the Central East Azeri platform at the Azeri-Chirag-Guneshli (ACG) block of fields is scheduled for June, Bakhtiyar Aslanbayli, BP Vice President for Communications and External Relations in the Caspian and Middle East region, said. “The upper blocks have already been loaded …
Gazprom International Discovered a New Gas Field in Bangladesh
Gazprom International has discovered a new Illisha-1 gas field in Bangladesh, the company said. “Well tests conducted on May 14-20 at the Illisha-1 gas well on the island of Bhola in Bangladesh demonstrated a commercial gas inflow with a flow rate of 19.6 million cubic feet (554 thousand cubic meters) …
BP Expects to Complete Drilling of a New Exploration Well in Shah Deniz by 2024
By the end of 2023, BP plans to complete drilling of a new exploration well “SDX-8” at the Shah Deniz field in the Azerbaijani sector of the Caspian Sea. “This exploratory drilling program at Shah Deniz is designed for 12 months. The well is being drilled from the previously undeveloped …
Rosneft Has Reduced the Cost of Hydrocarbon Production in Russia
Rosneft, thanks to strict cost control in the first quarter of 2023, reduced operating costs for hydrocarbon production in Russia by 5% qoq to less than $3 per barrel of oil equivalent, the company said. “The company is systematically working to reduce operating costs to a minimum level, despite the …