Rosneft’s Unit Production Costs for Hydrocarbons in Q1 Amounted to $3 per Barrel
Rosneft’s unit operating costs for hydrocarbon production in the first quarter of 2025 amounted to $3 per barrel of oil equivalent, according to Rosneft CEO Igor Sechin, as reported in the company’s statement. “Cost control remains our constant priority — in Q1 2025, unit production costs for hydrocarbons amounted to …
Samaraneftegaz Increases Drilling Volumes Through New Technologies
Samaraneftegaz, part of the oil production complex of Rosneft, achieved 216 thousand meters of development drilling in 2024, which is 4% higher than the figure for 2023. The increase in drilling footage was achieved through a range of measures aimed at increasing productivity in well drilling using new technologies. The …
Petroecuador Begins Drilling on Block 44 in Ecuador’s Orellana Province
Ecuador’s state company Petroecuador has started drilling at the Pucuna D-033 well on Block 44, with an estimated additional production volume of 2,500 barrels per day. The start of work in Orellana Province, Ecuador, marks the beginning of the 2025 drilling campaign, according to a press release from Petroecuador on …
Chevron and Exxon Plan to Enter Gas Production Projects in Algeria This Year
Algeria’s State Company Sonatrach Plans to Sign an Agreement on the Development of a Large Hydrocarbon Deposit with Chevron, Said the Country’s Minister of Energy Mohamed Arkab The country also expects to sign contracts with ExxonMobil by the end of the year for the development of very important fields that …
BP Does Not Rule Out the Possibility of Developing Gas Reserves at the Karabakh Field
BP plc, in addition to oil production, plans to consider the possibility of developing the gas reserves of the Karabakh field in the future, said Colin Allan, Vice President for Finance in the Azerbaijan, Georgia, and Turkey region, at the Baku Energy Forum. “Although at present we are predominantly focused …
Rosneft Produced 61.2 Million Tonnes of Hydrocarbons in Q1 2025
Rosneft’s hydrocarbon production in the first quarter of 2025 amounted to 61.2 million tonnes of oil equivalent, which is 8.1% lower than the level in January-March 2024. This information comes from the company’s Q1 2025 results, prepared in accordance with International Financial Reporting Standards (IFRS). Liquid hydrocarbon production in the …
ExxonMobil and SOCAR Sign Agreement for Onshore Oil and Gas Exploration and Production in Azerbaijan
ExxonMobil and Azerbaijan’s state energy company SOCAR have signed an agreement for the exploration and production of oil and gas onshore in Azerbaijan. Meanwhile, BP is acquiring new offshore fields in the country. According to Reuters, oil production in Azerbaijan primarily relies on mature offshore oil fields in the Caspian …
Kirill Levin Appointed as General Director of Rosgeologiya
At an extraordinary general meeting of shareholders, Kirill Levin was appointed as the General Director of Rosgeologiya JSC. The team of the holding was introduced to him today by the Minister of Natural Resources and Environment of Russia, Alexander Kozlov, who chairs the Board of Directors of Rosgeologiya. Kirill Yuryevich …
Tatneft Prepares for CO2 Injection into the Reservoir
Tatneft has received a subsurface license for the Tukaevsky-1 site in Tatarstan for the construction and operation of underground facilities where the company plans to store carbon dioxide (CO2). The site covers the territories of the Nizhnekamsky, Tukaevsky, and Zainsky districts, according to Interfax. According to the State Register of …
Legendary Samotlor Field Celebrates Its 60th Anniversary
Rosneft celebrates the 60th anniversary of the discovery of the Samotlor oil field, one of the largest in the world. Its history began on May 29, 1965, when the exploratory well R-1 produced its first oil at a flow rate of 300 cubic meters per day. Just four years later, …