A Framework Agreement Was Signed with BP on Operations on the Caspian Shelf of Azerbaijan
The total cost of services is estimated at about $ 300 million. The framework agreement on underwater work in the territorial waters of Azerbaijan in the Caspian Sea was signed in Milan on July 12, 2024. This was reported in the Italian company Saipem. The document was signed between the …
India’s Oil Minister Calls for Intensified Hydrocarbon Production
Hardeep Singh Puri noted that this is necessary to reduce the republic’s dependence on imports Indian Oil and Natural Gas Minister Hardeep Singh Puri called for intensified oil and gas production on his territory to reduce the South Asian republic’s dependence on imports and ensure fuel availability. According to NDTV, …
The Number of Drilling Rigs in the US Fell by 13% Compared to Last Year
The number of operating oil drilling rigs, a key indicator of future production, fell again in the US to 478, the lowest since 2021. The number of drilling rigs in the US has been steadily falling: in 2023, the decline was 20%, and in 2024, the decline continued. The reason …
Turkmenistan Produced 40.2 Billion Cubic Meters of Gas and 4.2 Million Tons of Oil in the First Half of the Year
During the meeting, it was reported that gas production in the country in January-June 2024 exceeded 40.2 billion cubic meters, oil extraction amounted to 4.2 million tons, Interfax writes with reference to local media. However, comparative data with last year is not provided. Earlier, it was reported that for the …
In Saudi Arabia New Oil and Gas Fields Were Opened
The Minister of Energy of Saudi Arabia, Prince Abdeliaziz Ben Salman, announced the opening of seven new oil and gas deposits in the eastern province of the kingdom and in the Rub-El Khali desert. According to the Minister, which is quoted by the Saudi news agency SPA, the National Oil …
Chevron and QazaqGaz to Conduct Exploration Work at the Zhalibek Subsoil Site in Kazakhstan
Kazakhstan national company QazaqGaz and Chevron (through its subsidiary Chevron Munaygaz Inc.) signed a cooperation agreement on geological exploration work (GEW) at the Zhalibek subsoil site in the Aktobe region near the Zhanazhol and Urikhtau fields. This was reported by the press service of QazaqGaz. It is noted that negotiations …
The State Duma Was Proposed to Maintain the 20% Profit Tax for the Vostok Oil Project
The government submitted a proposal to the State Duma to maintain the current tax regime for the profit tax at 20% for the Vostok Oil project, according to amendments to the second reading of the bill on improving the tax system, which Interfax has reviewed. It is noted there that …
World Bank Names 2023 Gas Flaring Rates as Worst in Five Years
Russia named leader in flaring, rates increased in all regions amid declining production. In 2023, associated petroleum gas (APG) flaring rates increased significantly and became the worst in five years, according to the World Bank report. In general, the volume of flared gas increased by 9 billion cubic meters, or …
TotalEnergies to remain in South African offshore gas projects
According to estimates, the development of the Brulpadda field requires investments of $3 billion. The South African authorities have received assurances from the French energy group TotalEnergies that it will not withdraw from projects to develop large natural gas fields on the country’s southern shelf. This was reported by the …
Sergey Radkov Appointed CEO of Rosgeologia
In accordance with the government directive, Rosimushchestvo issued an order to appoint acting CEO of Rosgeologia Sergey Radkov as the head of the company from June 26, 2024, the company’s website reports. “In accordance with the directive of the government of the Russian Federation, the Federal Agency for Property Management …