Greek Energean Announces Start of Development of Katlan Gas Field Offshore Israel in the Mediterranean Sea
Greek energy company Energean (100%, operator) announced the final investment decision (FID) on the Katlan field development project offshore Israel in the Mediterranean Sea. Capital expenditures will amount to approximately $1.2 billion. The field is located at a water depth of up to 1,800 m. The first stage of development …
American Oilfield Services Company Turns Its Gaze to the Middle East
On the eve, the American drilling rig manufacturer Helmerich & Payne announced plans to acquire British competitor KCA Deutag International Ltd., which has enough projects in the Middle East. Helmerich & Payne is not one of the “big four” oilfield services companies, for it the acquisition of a company for …
The United States Does Not Plan to Cancel Oil Production Licenses in Venezuela after the Elections
The United States does not intend to cancel the licenses previously issued by American companies in Venezuela after the presidential election in the country, a senior representative of the American administration said on Monday. The chairman of the National Electoral Council of Venezuela Elvis Amoroso previously said that according to …
TotalEnergies Sells Stake in Nigerian JV for $860 Million
French energy company TotalEnergies is selling its 10% stake in a joint venture (JV) in Nigeria to Chappal Energies for $860 million, according to a TotalEnergies press release. “TotalEnergies announces that its subsidiary TotalEnergies EP Nigeria has signed a sale and purchase agreement with Chappal Energies for the sale of …
Egypt Drills New Oil and Gas Wells in Hopes of Moving Away from Energy Imports
Egyptian Oil and Mineral Resources Minister Karim Badawi spoke about a new stage of hydrocarbon exploration in the country, which includes drilling 586 exploratory wells by 2030. It is planned to drill 110 wells by 2026 for $1.2 billion. By 2030, the number of wells should increase to 586, with …
Australia Is Urgently Looking for Gas for Its Domestic Market
Australia has announced new offshore gas exploration permits for its east and west coast markets in a bid to ease concerns about gas shortages. “As ageing coal generation is phased out in the coming years, gas will continue to be needed to support renewable energy production and as a back-up …
Rosneft Has Developed a “Green” Technology for Processing Drilling Waste
The production assets of the Company Samaraneftegaz, Orenburgneft and RN-Krasnodarneftegaz have successfully implemented a waste-free and environmentally friendly technology for processing drilling waste. A unique and unparalleled development in the world by Rosneft scientists allows for the production of artificial soil from drilling mud and works even at low temperatures …
Mexico’s Oil Production is Falling, and This Could Destroy the Dream of Energy Independence
The new President of Mexico, Claudia Sheinbaum, will face the need to solve a number of problems in the oil industry, which is one of the main ones in the country’s economy, writes the Reuters agency. Mexico is a major oil producer, but production at old fields, located mainly in …
Occidental to Sell Texas Shale Assets for $1 Billion
Occidental Petroleum is completing talks with Permian Resources to sell its Texas assets, Barilla Draw, for $1 billion, Reuters reports. The move is part of Occidental’s broader strategy to reduce its debt, which topped $18 billion at the end of the first quarter. The deal could close in the coming …
The British Nostrum Oil & Gas Increased Oil and Gas Reserves in Kazakhstan by More than 5 Times
Xodus Group Limited has prepared a report that contains an independent assessment of the reserves and resources of the Stepnoy Leopard group of fields in Kazakhstan as of 1 January 2024. This was reported by Nostrum Oil & Gas PLC. In August 2023, Nostrum announced the launch of exploration and …