Gazprom Lost 156 Billion Cubic Meters of Gas Production in Two Years
In 2023, Gazprom’s production decreased in annual terms by 13%, to a historical low of 359 billion cubic meters. These figures are presented in the company’s annual report. Compared to 2021, the drop was 30%, or 156 billion cubic meters. m. Gazprom’s gas processing, on the contrary, increased last year. …
Mud Volcanoes in the Barents Sea Could Open up New Prospects for Oil and Gas Exploration
The EXTREME24 expedition discovered 10 new mud volcanoes in the western part of the Barents Sea off the coast of Norway at a depth of 440-480 meters, Offshore reports The team on board the research vessel Kronprins Haakon included Rune Mattingsdal, a geologist from the Norwegian Maritime Directorate (NOD), and …
Wintershall Dea Leaves the Ghasha Concession in Abu Dhabi with the Participation of LUKOIL
Wintershall Dea has signed an agreement with Indonesia’s PTT Exploration and Production Public Company Limited (PTTEP) to sell its 10% interest in the Ghasha concession in Abu Dhabi. “All conditions required for closing, including regulatory approvals, have been met,” Wintershall Dea said, without specifying the sale price. “The transaction is …
Oil Production Begins on the Senegal Shelf
Australian Woodside Energy has begun oil production at Senegal’s first offshore project, the Sangomara field. The Sangomara field is located 100 km south of the country’s capital, Dakar, and the project cost is $5.2 billion. The planned production is still at the level of 100 thousand b/d; production will use …
Maxim Reshetnikov Urged to Be Prepared for Zeroing Out the Mineral Extraction Tax
The mineral extraction tax (MET) in Russia, including oil, will have to be zeroed out at some point in order to maintain production volumes; a new period of the super cycle is beginning – falling prices, said Russian Minister of Economic Development Maxim Reshetnikov. “It is very important for us …
Saudi Arabia Plans to Increase Oil Production Capacity in the Next Three Years
Energy Minister Prince Abdulaziz bin Salman noted that there are also plans to increase oil export capabilities. Saudi Arabia will increase its oil production capacity in the next three years, said Saudi Arabian Energy Minister Prince Abdulaziz bin Salman during a speech at the St. Petersburg International Economic Forum (SPIEF). …
TotalEnergies Advances Block 58 Project in Suriname
On the occasion of the Suriname Energy Oil and Gas Summit 2024, Javier Rielo, Senior Vice President Exploration & Production Americas at TotalEnergies, and Annan Jagesar, CEO of Staatsolie Maatschappij Suriname NV, the National Oil Company of Suriname, announced important steps towards a final investment decision for the development of …
Shell to Be Allowed to Drill Again on South Africa’s Wild Coast Subject to Public Consultation
The South African Court of Appeal has overturned a previous ruling and allowed Shell to explore for oil and gas on South Africa’s environmentally sensitive offshore strip along the pristine Wild Coast. There is a catch: Shell must consult with the public before starting work. In fact, the lack of …
In the Saratov Region, an Oil and Gas Company Will Invest 12.5 Billion Rubles in Production
It is planned to create about 70 new jobs. In 2024, the oil and gas company Dial Alliance will begin mining in the Yershovsky District of the Saratov Region. The total investment will amount to 12.5 billion rubles, the press service of the regional government reported. The corresponding agreement was …
Seismic Exploration Work Completed at the Vostochno-Bovanenkovskiy License Area
Gazprom Dobycha Nadym has completed seismic exploration at the Vostochno-Bovanenkovskiy license area with an area of 859 sq. km. This was reported by the Gazprom press service. The work included seismic surveys carried out by Gazprom Nedra. 164 people and 60 units of special equipment participated in these works. The …