SOCAR AQS Beats New Record
A few days ago SOCAR AQS set a new record in the history of national drilling industry. With application of a new-generation drilling rig, Drillmec HP 3000, the company successfully ran, with single trip, a heavy-weight intermediate casing in Well 113 of Platform 6 on Bulla Field. Thus, the company successfully ran …
Caspian Sunrise: Workover Operations Proving Successful
BNG Shallow Wells Production levels Total oil production in October 2018 from the 5 wells operational in the MJF structure and the 4 wells in the South Elemes structure was 54,348 barrels (average of 1,753 bopd). Completed workovers The remedial work completed at the start of October 2018 has resulted …
Azerbaijan’s SOCAR in Talks to Develop Oil Field in Russia
Azerbaijan’s state oil company SOCAR is in talks with Russia’s Rosneft, Gazprom and Novatek over the development of an oil field in Russia, SOCAR Vice President Elshad Nasirov told reporters Nov. 1 in Minsk, Reuters reported. Nasirov also said that SOCAR had proposed extending its gas contract with Gazprom to …
OPEC Daily Basket Price: Thursday, 1 November 2018, Stood at $72.64 a Barrel
Vienna, Austria, 2 November 2018–The price of OPEC basket of fifteen crudes stood at $72.64 a barrel on Thursday, compared with $75.24 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), …
Urals Energy Capital “Highly Constrained”, Prepares To Load Tanker
Urals Energy PCL said Thursday that its working capital continues to be “highly constrained” after an un-authorised USD1.5 million loan made from its funds left it short of working capital. The Russia-focused exploration & production company also added that its tanker has arrived at the Kolguev Island where loading should …
Petrosibir: A New Oil Field Discovery within the Aysky Exploration Block in Bashkiria
Petrosibir is pleased to announce that the Company has successfully re-entered an old Soviet well #141 within the the Aysky exploration licence in Bashkiria. The Aysky licence was issued in September 2009 and will expire in December 2020. This licence block is adjacent to the north-eastern border of the Ayazvskoye …
BP Completes Purchase of BHP Assets in US Onshore
BP has completed the $10.5 billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S. onshore oil and gas portfolio and help drive long-term growth. The acquisition – which was announced in July and closed as scheduled on October 31– adds oil and …
ConocoPhillips Announces Executive Leadership Retirement and Realignment
ConocoPhillips today announced the retirement of Al Hirshberg as executive vice president, Production, Drilling and Projects after more than 35 years of industry service, including eight years with ConocoPhillips. In conjunction with Hirshberg’s retirement, the company also announced the realignment of executive leadership responsibilities, as follows: Matt Fox, currently executive …
The Gazprom Neft Board of Directors Examines the Issue of Improving Effectiveness in Associated Petroleum Gas (APG) Utilisation
The Gazprom Neft Board of Directors has, on 26 October, reviewed the company’s associated petroleum gas (APG) utilisation programme, as well as greater effectiveness in APG utilisation in 2018 and plans for 2019–2021. Based on 2018 outcomes, and in the light of increasing hydrocarbon production, the productive use of APG throughout the company’s fields is expected to show a year-on-year increase of 2.7 billion cubic metres — an increase, …
Yarudeyskoye Field Produced 10 Million Tons of Crude Oil
PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that cumulative production at the Yarudeyskoye field owned by the Company’s subsidiary Yargeo, reached a milestone of 10 million tons of crude oil production since the commencement of operations. The field’s commercial production commenced in December 2015, and by January 2016, the field …