The Republic of India Has Proposed That the Russian Federation Participate in Oil and Gas Exploration Across 200,000 Square Kilometers of Its Territory
The Republic of India is offering the Russian Federation access to 200,000 square kilometers of its territory for oil and gas exploration. This was announced by Hardeep Singh Puri, the Minister of Petroleum and Natural Gas of the Republic of India. “We are offering 200,000 square kilometers for drilling in …
“Drill, Baby, Drill” Did Not Work: From Savior to Gravedigger — Donald Trump’s Transformation
In the United States of America, the number of active oil and gas drilling rigs fell to 578 units by the end of the first week of May, down from 586 units in April. This represents the lowest level since the beginning of the current year. According to Baker Hughes, …
The Arab Republic of Egypt Has Announced the Discovery of Three New Oil and Natural Gas Fields
The authorities of the Arab Republic of Egypt have announced the discovery of three new hydrocarbon fields—including both oil and natural gas reserves—located onshore and offshore. The discoveries were made by the national oil and gas companies Khalda Petroleum Company, Petrobel, and GUPCO (Gulf of Suez Petroleum Company). It is …
Eni Has Commenced Natural Gas Production at the Merakes East Field in the Republic of Indonesia
The Italian energy company Eni has announced the commencement of natural gas production at the Merakes East field, located in the Kutai Basin of the Republic of Indonesia. The company made the announcement in an official press release on Tuesday, according to a report by Reuters. This field is part …
Rosneft Has Implemented a New Technology for Pressure Control in Oil Wells
Specialists from RN-Purneftegaz, a subsidiary of the oil and gas production division of Public Joint Stock Company Rosneft, have successfully implemented an innovative domestically developed surface-mounted pressure regulation system for injection wells. The economic effect of this innovation amounts to 12 million Russian rubles per year per well. The system …
Alexander Novak Has Called for Stimulating the Development of Hard-to-Recover Oil Reserves
It is necessary to fine-tune the tax system in the Russian Federation in order to stimulate the development of hard-to-recover oil reserves, as this will make investments in both reserves and technologies economically viable, according to Alexander Novak, Deputy Prime Minister of the Russian Federation. “As of today, hard-to-recover, high-water-cut, …
The Sultanate of Oman Has Decided to Sell a Stake in Its Most Valuable Gas Asset for 8 Billion United States Dollars
The Sultanate of Oman is seeking to sell a stake worth 8 billion United States dollars in its natural gas assets. The state-owned company Energy Development Oman (EDO) is currently looking for partners interested in acquiring a minority interest in gas fields that are part of Block 6. Block 6 …
Alexander Dyukov Has Commented on Oil Production Plans in the Russian Federation Through the Year 2050
Annual Oil Production in the Russian Federation May Rise to 540 Million Metric Tons by the Year 2050, According to the Energy Strategy, Provided That Oil Producers, Related Industries, and Government Authorities Join Forces, Says Gazprom Neft Chief Executive Officer Alexander Dyukov The Government of the Russian Federation approved the …
Gazprom Neft Will Continue to Advocate for Tax Incentives for the Development of Hard-to-Recover Reserves
By the year 2030, more than half of new oil production in the Russian Federation will come from hard-to-recover reserves, which require adjustments to the tax regime to encourage their development. This was stated by Alexander Dyukov, Chief Executive Officer of Gazprom Neft. In mid-April, the Government of the Russian …
Gazprom Neft: More Than Half of New Oil Production in the Russian Federation Will Come from Hard-to-Recover Reserves
By the year 2030, more than half of crude oil production in the Russian Federation will come from hard-to-recover reserves, which means that large-scale development of these resources will require adjustments to the tax regime and state support for technological innovation, according to Alexander Dyukov, Chief Executive Officer of Gazprom …