OPEC Daily Basket Price: Wednesday, 20 January 2021, Stood at $55.75 a Barrel
Vienna, Austria, 21 January 2021 – The price of OPEC basket of thirteen crudes stood at $55.75 a barrel on Wednesday, compared with $54.85 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
Achim Development: First Gas
Achim Development LLC, the youngest joint venture between Gazprom PJSC (74.99 per cent) and Wintershall Dea GmbH (25.01 per cent), has successfully started hot commissioning of Area 4A of the Urengoyskoye oil, gas and gas condensate field in Western Siberia, and has produced first gas and condensate from the licence …
NOVATEK: 2020 Reserve Replacement Reached 117%
PAO NOVATEK today announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2020. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 16,366 million barrels of oil equivalent (boe), including 2,244 billion …
OPEC: Daily Basket Price Stood at $54.85 a Barrel Tuesday, 19 January 2021
Vienna, Austria, 20 January 2021–The price of OPEC basket of thirteen crudes stood at $54.85 a barrel on Tuesday, compared with $53.92 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), …
Gazprom Neft and SNF to Develop EOR Technologies
Gazpromneft – Technological Partnerships (formerly the Bazhen Technology Center), the French SNF holding and its Russian subsidiary SNF Vostok signed a memorandum of cooperation in the development, testing and launch of technologies for chemical enhanced oil recovery technologies on the Russian market. The parties agreed to cooperate in the production …
RN-Uvatneftegaz: Ust-Tegusskoye Field Turns 30
It is 30 years since the discovery of the Ust-Tegusskoye field, the largest in the Uvat project of Rosneft. The field was discovered as a result of the drilling of prospecting well No. 100, which confirmed commercial oil deposits. In the process of subsequent additional exploration, the oil reserves of the Ust-Tegusskoye …
NOVATEK Reports Preliminary Operating Data for 2020
PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the twelve months ended 31 December 2020. In 2020, NOVATEK’s hydrocarbon production totaled 608.2 million barrels of oil equivalent (boe), including 77.37 billion cubic meters (bcm) of natural gas and 12,237 thousand tons of liquids (gas condensate and …
OPEC Daily Basket Price: Thursday, 14 January 2021, Stood at $55.19 a Barrel
Vienna, Austria, 15 January 2021–The price of OPEC basket of thirteen crudes stood at $55.19 a barrel on Thursday, compared with $55.81 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno …
LUKOIL: Develops Its Own Completion System For Horizontal Wells
LUKOIL has become the first company in Russia to successfully develop and implement own completion system for horizontal wells. The high technological reliability of the new import substituting equipment will make it possible for the Company to start the commercial production of reserves which till recently was hindered due to lack …
PetroNeft Resources: Belgrave Naftogas to Acquire 40% of Licence 67 for US$2.9 million
PetroNeft an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licenses 61 and 67, is pleased to provide the following update: Highlights Heads of Terms signed with Belgrave Naftogas (formerly Arawak Energy Russia B.V.) to acquire an additional …