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, …
TotalEnergies Sells Its Stake in Nigeria’s Bonga Field Development Project to Shell
TotalEnergies EP Nigeria (TEPNG), a subsidiary of France’s TotalEnergies, has signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo), a subsidiary of Shell, to sell its 12.5% stake in the Production Sharing Contract (PSC) for OML 118. This information comes from a joint statement by the companies. …
ADNOC Drilling Acquires 70% of SLB’s Drilling Business in Oman and Kuwait
ADNOC Drilling is acquiring a 70% stake in the drilling business of oilfield services company SLB (formerly Schlumberger) in Oman and Kuwait for approximately $112 million. A joint venture will be established based on these assets. The deal, expected to close in the first quarter of 2026, will give ADNOC …
Gazprom Subsidiary Consolidates Assets in the Khanty-Mansi Autonomous Okrug
Salym Petroleum Development (SPD) Oil Company from the Khanty-Mansi Autonomous Okrug, a subsidiary of Gazprom Neft, has begun a reorganization process. It will merge with the firm Salym-2 from Khanty-Mansiysk. “The company notifies about the reorganization in the form of a merger with Salym-2 LLC. Creditors’ claims may be submitted …
Record $26.62 Billion Investment Planned for Norway’s Oil and Gas Industry
The volume of capital investment in Norway’s oil and gas sector could reach a historic high this year, according to a study published on Tuesday by the Norwegian Statistics Agency, as reported by Reuters. The country’s key economic sector is expected to invest 269.1 billion Norwegian kroner ($26.62 billion) in …
Rosneft Implements New Technology to Optimize Well Construction
Specialists from Orenburgneft have implemented a domestically developed innovation that allows for a reduction in the length of expensive casing strings by using a large-diameter cemented liner hanger. The actual economic effect of this innovation amounts to over 3.5 million rubles per well. The reduction in the metal intensity of …
Novatek May Tap Additional Gas Volumes from Deep Horizons of Nadym-Pur-Taz Region Within 3–5 Years if Tax Burden Is Reduced
Novatek could begin developing additional reserves from deep horizons of the Nadym-Pur-Taz region (Yamalo-Nenets Autonomous Okrug) within three to five years. This was stated by Ekaterina Galyan, Director of the Subsoil Use and Resource Base Management Department at the company, during the “Hard-to-Recover Reserves – Present and Future” conference. At …