Gazprom Neft to Establish a Network of Test Sites in Western Siberia for Hard-to-Recover Oil Technologies
Gazprom Neft has received new licenses for the establishment of technology test sites dedicated to piloting domestic solutions for the development of hard-to-recover oil reserves (HRR). This initiative will enable the company to create the largest network of such sites in Russia, accelerating the deployment of advanced approaches to unconventional …
Baker Hughes: U.S. Rig Count Rises for the First Time in Four Weeks
The number of active drilling rigs in the U.S. — a key indicator of future hydrocarbon production — increased by 2 unitsin the week ending April 17, marking the first uptick in four weeks, according to Baker Hughes. The total U.S. rig count now stands at 585, which is 34 …
Vostsibneftegaz Achieves Over RUB 1 Billion in Economic Gains from Advanced Technologies in 2024
East Siberian Oil and Gas Company (VSNK, part of Rosneft’s upstream division) generated over RUB 1 billion in economic benefits in 2024 through the implementation of innovative projects aimed at enhancing production efficiency. Over the course of the year, VSNK specialists introduced 26 cutting-edge solutions. One of the most impactful …
Russia’s Existing Gas Projects Will Supply No More Than 60% of Production by 2050
The current state of gas field development in Russia shows that 70% of actively producing reserves have already been extracted, according to Igor Shpurov, Head of the State Commission on Mineral Reserves (GKZ). While Russia’s overall gas reserve life stands at 102 years, the remaining operational life of currently active …
New Oil Asset in the Arctic
Norway has officially brought one of its most important Arctic energy projects into production. On March 31, 2025, the Johan Castberg oil field in the Barents Sea began operations, marking a major milestone in the country’s strategy to develop Arctic resources and solidify its position as a key energy supplier …
U.S. Plans to Expand Offshore Continental Shelf for Drilling
The United States will launch a 45-day public consultation period to gather feedback on a new five-year leasing program for offshore oil and gas exploration. The results of the discussions will shape a long-term plan for resource development on the U.S. Outer Continental Shelf. According to Reuters, the program could …
Lukoil Reduces Proven Hydrocarbon Reserves by 3% in 2024
Lukoil’s proven hydrocarbon reserves decreased by 3% in 2024, totaling 14.689 billion barrels of oil equivalent (boe), according to materials prepared for the company’s upcoming annual shareholders’ meeting. The company noted that 75% of its proven reserves are liquid hydrocarbons, while 25% are natural gas. Russia accounts for 91% of …
Lukoil Reduces Gas Production by 2.3%
Lukoil Reduces Gas Production by 2.3% in 2024 Lukoil reported a 2.3% decrease in gas production for 2024, totaling 34.3 billion cubic meters, according to the company’s annual report. “Gas production in 2024 amounted to 34.3 billion cubic meters, which is 2.3% lower than the previous year,” the report stated. …
Trump’s Tariffs Leave Shale Industry Stunned
No one fully understands yet how the global economy will ultimately respond to sweeping new tariffs announced by newly re-elected U.S. President Donald Trump — especially as policies continue to shift. One thing is clear: demand forecasts for oil are falling across the board, keeping Brent crude prices from rising …
ROGTEC Team Participates in Neftegaz-2025 Exhibition and National Oil & Gas Forum
The ROGTEC Magazine team took part in two of the year’s most significant industry events — the 24th international Neftegaz-2025 exhibition and the National Oil & Gas Forum, held from April 14 to 17 at the Expocentre Fairgrounds in Moscow. The events brought together key players from across the oil and …