Italian Company Eni to Sponsor Gas Field Development in Indonesia
Italian energy company Eni plans to invest $10 billion in the development of offshore gas fields in Indonesia’s East Kalimantan province, according to Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia. “The proposed investment of ten billion dollars in East Kalimantan will be directed toward the development of offshore …
Explore the Ever-Changing Aspects of the Oil and Gas EPC Market
With new technologies, ever-rising demand, and renewed sustainable spree, the EPC market is changing its landscape. Explore how recent technological changes and sustainable demand support the expansion of the oil and gas EPC market. In the ever-changing world of the oil and gas EPC market, upgradation and exploration are not …
Gazprom Neft Approves Dividends for 2024 at 79.17 Rubles per Share
On June 25, 2025, following an absentee vote, the shareholders of Gazprom Neft approved dividends for the year 2024in the amount of 79.17 rubles per ordinary share. This amount includes interim payments for the first half of 2024totaling 51.96 rubles per share. The total volume of dividend payments will amount …
Sierra Leone to Auction 60 Offshore Oil and Gas Blocks at the End of the Year
Sierra Leone will delay its new oil and gas auction until the end of the year as the country awaits results from a large-scale seabed survey that has just concluded — the first such study in over ten years, according to Reuters. Last month, the company GeoPartners, together with the …
Russia and Turkey Ready to Identify Joint Projects in Geological Exploration
Russia and Turkey are ready to identify joint opportunities for projects in the field of geology and subsoil use. This is stated in the protocol of the meeting of the Russian-Turkish intergovernmental commission on trade and economic cooperation (the text of the document is available to TASS). “The parties declared …
Russneft to Continue Development of the Technically Challenging Vostochno-Kamennoe Field
Russneft will continue active development this year of the uniquely complex Vostochno-Kamennoe field located in Western Siberia, said company CEO Evgeny Tolochok at the annual shareholders meeting. “Russneft has entered the active phase of industrial development of the uniquely complex greenfield – the Vostochno-Kamennoe field. We have drilled new wells …
Vladimir Putin: OPEC+ Production Based on Rising Oil Demand
President of the Russian Federation Vladimir Putin believes that production within OPEC+ is calculated based on the growing demand for oil. He expressed this opinion while answering questions from journalists. “The volumes of oil and petroleum products consumed in the world are increasing due to the growth of the global …
Shell and Partners to Increase Gas Production Capacity at Ormen Lange by 50 Billion Cubic Meters
To increase production volumes at the Norwegian gas field Ormen Lange, a consortium led by Shell has commissioned two new subsea compression stations. This step is aimed at accelerating the development of gas reserves supplied to European markets. According to Shell, the commissioning of the compressors will increase the gas …
TotalEnergies Acquires Stake in Suriname Offshore to Expand Gran Morgu Project
French oil and gas company TotalEnergies has announced the acquisition of a 25% stake in Block 53 on the Surinamese offshore shelf from Spanish company Moeve, Reuters reports. The value of the deal was not disclosed. This transaction strengthens the presence of the French energy giant in one of the …
Norwegian Oil Industry Workers to Go on Strike Starting June 21
Norwegian oil and gas industry trade unions announced on Monday that workers on offshore drilling rigs will begin a strike on June 21, if no agreement is reached with employers regarding next year’s wages. About 438 members of three unions — Styrke, SAFE, and DSO — may take part in …