Four Oil Wells Were Flooded in Western Kazakhstan
About 80% of the country’s oil reserves are located in the Atyrau region. Four oil wells were flooded by floods in the Atyrau region of Kazakhstan. This was reported by the Industrial Safety Committee of the Ministry of Emergency Situations of the Republic. “Currently, four wells are flooded in the …
CNPC Specialists Have Begun Geological Exploration Work in the Southwest of Tajikistan
The China National Petroleum Corporation (CNPC) has begun implementing a project for the exploration and production of new hydrocarbon deposits in southwest Tajikistan. This was announced by CNPC General Director B. Deji. On April 11, 2024, the launch ceremony of the project for the development of new fields in southwestern …
The Head of Gazprom Neft Called Increasing Oil Production a Non-Trivial Task
Demand for oil will grow beyond 2030, but ensuring an increase in its production is not an easy task, said the head of Gazprom Neft, Alexander Dyukov, in his lecture at the Russia Forum. According to him, humanity will not be able to do without oil, at least for the …
In the US the Cost of Leasing Federal Land for Oil and Gas Companies Will Increase 15 Times
The cost of leasing federal lands in the United States for oil and gas companies will increase 15 times. The Washington Post writes about this. The new rule, released April 12 by the Bureau of Land Management, will increase rents to $150,000 per unit, up from the current $10,000. The …
The Share of the US Loss in Oil Production Due to Its Ban in the Arctic is Named
The introduction by the United States of a partial ban on production in the Arctic could lead to a loss of about 1.5-2% of the country’s oil production, but this is unlikely to have any tangible impact on the fuel and energy complex, this opinion was expressed by RIA Novosti …
British BP Announced the Start of Oil Production from a New Offshore Platform in Azerbaijan
The British company expects production at ACE to reach about 24 thousand barrels per day in 2024. The British company BP announced the start of oil production from a new platform in the Azerbaijani sector of the Caspian Sea. “As part of the development of the Azeri-Chirag-Gunashli (ACG) field, the …
Libya Overtook Nigeria and Became the First Country in Africa in Terms of Oil Production
For the first time in 10 years, Libya overtook Nigeria and became the first country in Africa in terms of oil production. This was reported by the economic agency Ecofin. “In the current conditions, for the first time in the last 10 years, Nigeria is having difficulty maintaining a stable …
The Cost of LUKOIL’s Purchase of 50% in Kalamkas-Khazar Operating LLP Amounted to $200 Million
PJSC LUKOIL, which last year acquired 50% of Kalamkas-Khazar Operating LLP (KCO), paid $200 million for this share, according to the annual report of KazMunayGas (KMG). “On February 9, 2023, the company and PJSC LUKOIL signed a purchase and sale agreement for a 50% share in the authorized capital of …
Bashneft Increased Drilling Volumes by 5% in 2023
ANK Bashneft, which is part of the Rosneft structure, increased the volume of production drilling in the Volga Federal District by 5% at the end of 2023. The share of horizontal wells, which significantly increase the efficiency of development of mature fields, was 88%. In total, 238 wells were drilled …
TotalEnergies Buys Shale Gas Assets in the USA
France’s TotalEnergies has agreed to buy from Lewis Energy Group a 20% stake in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas production capacity in Texas and strengthening the integration of the business into the LNG value chain in …