Eurasia Journal News

The Bazhen Technology Centre (a subsidiary of Gazprom Neft) has undertaken the first 18-stage fracking operation in Russia, at the Bazhenov Formation. High-tech fracking, coupled with the extended length of the horizontal section, has doubled oil inflow from the well. Gazprom Neft has undertaken a fracking operation unique to the industry at the Bazhenov Formation, setting records in terms of the number …

Messoyakhaneftegaz has commissioned a horizontal well at the Vostochno-Messoyakhskoye field, facilitating the full-scale development of Achimovsky deposits. The well, which runs to a total length of 3,200 metres, delivered a natural oil-inflow with initial volumes of 435 tonnes per day — roughly eight times the average at Messoyakha. The results obtained confirm the correctness of project participants’ calculations regarding the promising outlook for …

Vienna, Austria, 14 October 2019–The price of OPEC basket of fourteen crudes stood at $60.95 a barrel on Friday, compared with $58.71 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), …

Petrosibir’s total oil production during September 2019 amounted to 37,144 barrels, equivalent to 1,238 barrels per day. The table below summarises the average monthly / daily production in 2019 and 2018, broken down by region.  TOTAL PRODUCTION, BBL 2018 2019   Average Jan Feb Mar Apr May Jun Bashkiria 12 …

Vienna, Austria, 11 October 2019–The price of OPEC basket of fourteen crudes stood at $58.71 a barrel on Thursday, compared with $58.65 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), …

An explosion occurred on an Iranian tanker off the coast of Saudi Arabia, it caught fire. The ship of the Iranian national oil company was sailing 97 kilometers off the coast of Saudi Arabia at the time of the incident, local media reported. Two main storage tanks were reportedly damaged. This …

PAO NOVATEK announced today that Arcticgas, a joint venture between NOVATEK and PAO Gazprom Neft, commenced commercial production at the East-Urengoyskoye+North-Esetinskoye field within the Samburgskiy license area, with estimated annual production capacity of more than one (1) billion cubic meters of natural gas and 0.2 million tons of gas condensate.   …

PAO NOVATEK reported today preliminary operating data for the third quarter and nine months 2019. In the third  quarter 2019, NOVATEK’s hydrocarbon production totaled 145.2million barrels of oil equivalent (boe), including 18.31 billion cubic meters (bcm) of natural gas and 3,041 thousand tons of liquids (gas condensate and crude oil), …

Crude Oil Price Movements  The OPEC Reference Basket (ORB) rose $2.74, or 4.6%, month-on-month (m-o-m) in September to settle at $62.36/b, supported by concerns about supply disruptions and geopolitical risks. In September, ICE Brent averaged $2.79, or 4.7%, m-o-m higher at $62.29/b, while NYMEX WTI rose m-o-m by $2.12, or …

Experts of Verkhnechonskneftegaz JSC, a subsidiary of Rosneft Oil Company, have successfully implemented a physical and chemical method of enhanced oil recovery and achieved a 54% increase in additional oil production using this technology in 2018 compared to 2017. The method feature is to redistribute the volume of injected water …