Venezuela is Looking for Drillers
Caracas is actively working with oil service companies to increase oil production in Venezuela. After the easing of American sanctions, Venezuela began to revive its own oil production, starting with drilling new wells. International oilfield service companies with unused equipment in Venezuela include SLB, Evertson International and Nabors Industries. However, …
The US Department of Energy has Changed the Forecast for Oil Production in the Country for 2023-2024
The US Department of Energy slightly lowered the forecast for average oil production in the country for the current year and increased it for 2024, as follows from the monthly short-term forecast of the ministry’s Energy Information Administration (EIA). The Ministry of Energy lowered the forecast for oil production in …
The US Department of Energy Raised the Forecast for Oil and Liquid Hydrocarbons Production in the Russian Federation in 2023 by 100 Thousand b/d
The United States has adjusted the forecast for oil and liquid hydrocarbons (LPH) production in Russia for 2023, increasing it by 100 thousand bpd, to 10.73 million bpd, according to the monthly forecast of the US Department of Energy Information Administration (EIA). A month earlier, department analysts predicted this figure …
Commercial Gas Production in Azerbaijan Will Reach Peak in 2025 – Jabbarov
Commercial gas production in Azerbaijan will reach a peak of 36 billion cubic meters in 2025, Economy Minister Mikail Jabbarov said. “As for commercial gas, its production in 2025 will reach its peak and amount to 36 billion cubic meters,” Jabbarov said on Thursday when the parliamentary committee on economic …
RN-Yuganskneftegaz Carried out a Record Number of Hydraulic Fracturing Operations in a Month
RN-Yuganskneftegaz, the largest oil-producing asset of Rosneft, carried out 950 hydraulic fracturing operations during the calendar month. At the same time, one fleet performed 120 hydraulic fracturing operations during the reporting period, which is the best industry indicator. Achieving record results was made possible thanks to the development of Rosneft’s …
BP Increased Gas Production from the Shah Deniz Field by 11% in January-September
The BP-Azerbaijan company produced 20 billion cubic meters of gas from the Shah Deniz field in the Azerbaijani sector of the Caspian Sea in January-September 2023, which is 11% higher than the figure for 9 months of 2022, the company’s press service told Interfax-Azerbaijan. The Shah Deniz field also produced …
Lukoil Signed an Additional Agreement with Iraq to Increase Oil Production
Lukoil has entered into an additional agreement on the West Qurna 2 project in Iraq, which provides for the extension of the service contract for ten years, until 2045, and a gradual doubling of the field’s capacity with a production plateau of 800 thousand barrels per day, the company reported. …
KMG, Sinopec and MOL will Begin Developing a Gas Field in Kazakhstan by 2024
The estimated production volume will be about 1 billion cubic meters. m per year, explained the head of Kazmunaigas Magzum Mirzagaliev The Kazakh oil and gas company Kazmunaigas (KMG), the Chinese Sinopec and the Hungarian MOL plan to begin developing the Rozhkovskoye gas field in western Kazakhstan by the end …
Nostrum Oil & Gas Reduced Average Daily Hydrocarbon Production by a Quarter in January-September
Average daily production of Nostrum Oil & Gas Plc in January-September 2023 amounted to 10.288 thousand barrels of oil equivalent (boe), the company said. For the same period in 2022, average daily production was 13,684 thousand boe. Thus, this year this figure decreased by 24.8%. The oil company’s average daily …
BP Does Not Need Additional Oil and Gas Resources in the US
British energy BP does not need new oil and gas resources in the United States, said company CEO Murray Ashinkloss, commenting on media reports about possible new projects in this region. On Monday, Reuters, citing sources, wrote that BP is considering the possibility of creating joint ventures to increase shale …