Drilling Activity in Shale Is Falling
According to Reuters, oil and gas development in the United States is showing further signs of leveling off with the prospect of a decline as a result of falling energy prices (from a peak of $124 per barrel of oil recorded in June 2022). The drop in oil prices has …
A New Gas Field Has Been Discovered in the Norwegian Sea
The Haydn exploration well was drilled in the Norwegian Sea near Aasta Hansteen. A joint venture between OMV (40%), Vaar Energi (30%) and Inpex Idemitsu (30%) has discovered the new Haydn deepwater gas field, about 65 kilometers southwest of the Aasta Hansteen field, and 310 kilometers west of Sandnessjøen, offshore …
Kazakhstan Has Updated the Oil Production Compensation Plan Within the Framework of OPEC+
The Kazakh authorities have updated the oil production compensation plan under the OPEC+ agreement and sent it to the association‘s secretariat. This was reported by the press service of the Ministry of Energy of the Republic. “Kazakhstan confirms its commitment to the OPEC+ agreement and supports the decisions taken jointly …
Rosneft Celebrates 15 Years Since the Beginning of Commercial Oil Production at the Vankorskoye field
RN–Vankor (part of the Rosneft oil and gas production complex) celebrates the 15th anniversary of the commissioning of the Vankor field into commercial operation. Its development was the beginning of the creation of the Vankor cluster of fields, which today has become the basis of Vostok Oil, the largest investment …
Gazprom Neft Has Received Licenses for Three Sites in the South-East of Yamal
Gazprom Neft is starting to explore the Vostochno–Terel group of fields in the Yamalo–Nenets Autonomous Okrug – the company has received licenses for three sites that will become part of a large oil production cluster in the Yamalo-Nenets Autonomous Okrug, its message says. Gazpromneft–Noyabrskneftegaz will act as the operator of …
Turkey Broke the Daily Record for Oil and Gas Production in August
Turkey is increasing its hydrocarbon production in order to get away from import dependence on oil and gas. Turkey has reached new highs in daily oil and gas production: on August 17, oil production reached 107.6 barrels per day, and gas production on August 15 — 7.61 million cubic meters. …
Egypt Is Going to Increase Production of Hydrocarbons from 2025
In order to increase hydrocarbon production, Egypt is forced to pay contributions to foreign oil companies to meet its gas needs. Egypt plans to return oil and gas production to normal levels from 2025 with the help of international partners, Prime Minister Mostafa Madbouli said. The government announced in March …
Gazprom Neft Expands Perspective Production Center in the South-East of Yamal
Gazprom Neft is starting to study the Vostochno–Terel group of fields in the Yamalo–Nenets Autonomous Okrug. The company has received licenses for three sites that will become part of a large oil production cluster in the Yamalo-Nenets Autonomous District. The Vostochno–Terel group of deposits includes the Yuzhno–Kypakynsky, Kutymsky and Yuzhno–Lensky …
Oil and Gas Production on the Norwegian shelf Will Peak in 2025
Norwegian companies need to step up exploration and improve production efficiency in order to avoid a drop in oil and gas production after 2025, the Norwegian Offshore Directorate believes. Oil and gas production on the Norwegian continental shelf will reach a maximum in 2025, and then it is expected to …
KazMunayGas and China’s CNOOC to Conduct Exploration in Kazakhstan
During his visit to China, A. Khasenov held meetings with the heads of leading Chinese companies China National Offshore Oil Corporation International Limited (CNOOC) and CITIC Group. This is reported by the KMG press service. During the meeting, issues of implementing joint initiatives in the field of exploration, oil production …