Occidental to Sell Texas Shale Assets for $1 Billion
Occidental Petroleum is completing talks with Permian Resources to sell its Texas assets, Barilla Draw, for $1 billion, Reuters reports. The move is part of Occidental’s broader strategy to reduce its debt, which topped $18 billion at the end of the first quarter. The deal could close in the coming …
The British Nostrum Oil & Gas Increased Oil and Gas Reserves in Kazakhstan by More than 5 Times
Xodus Group Limited has prepared a report that contains an independent assessment of the reserves and resources of the Stepnoy Leopard group of fields in Kazakhstan as of 1 January 2024. This was reported by Nostrum Oil & Gas PLC. In August 2023, Nostrum announced the launch of exploration and …
Rosgeo and the Ministry of Mining of India Discussed the Prospects for Cooperation in Geological Exploration
On July 18, 2024, a meeting of the leadership of Rosgeology with a delegation of the Republic of India was at the head of the Deputy Minister of the Ministry of Mining of the Government of India Kantha RAO. The meeting on the Indian side was attended by the Deputy …
Indian Ongc Videsh Acquired a Share in the Field in the Caspian Sea
The total investment will be up to $60 million Indian state oil and gas company ONGC Videsh has signed an agreement to purchase from Norway’s Equinor a 0.615% stake in the Azeri-Chirag-Gunashli (ACG) offshore oil field in the Azerbaijani sector of the Caspian Sea. The company announced this in a …
ExxonMobil Will Transfer Operations Management to Petronas in Two Production Projects
According to representatives of the companies, this is not a sale, the share and distribution of companies in the project will not change. However, the Malaysian media speaks with reference to sources that Exxonmobil intends to get rid of old shelf assets. The company said that it intends to continue …
Turkish Military Will Look after Exploration in Somalia
Earlier, the Ministry of Energy of Turkey announced that already this year the country will begin exploration off the Somali coast. Work will be carried out as part of an agreement on cooperation in the field of energy between the two countries. Turkey has long been cooperating with the Federal …
Belorusneft Plans to Reach 280 Thousand Meters of Annual Rock Penetration by 2030
The company is constantly working to improve the oil production process, discovering and adapting the latest methods and technologies to the characteristics of the Belarusian region. The main emphasis is on the so-called “difficult” meters of rocks, hard-to-recover hydrocarbon reserves. And the company is demonstrating serious progress in this direction. …
The Northern Lights Drilling Platform Will Arrive at the Port of Kholmsk (Sakhalin) on July 20 after Repairs
Repairs were carried out in China The semi-submersible floating drilling platform (SSDR) “Northern Lights” will arrive as part of a caravan on July 20, 2024 at the roadstead of the seaport of Kholmsk (Sakhalin region) after scheduled repairs in the Chinese port of Zhoushan, reports the press service of Rosmorrechflot. …
Italian Saipem Will Carry Out Work at Shah Deniz and ACG for $300 Million
BP has signed a $300 million contract with a consortium led by Italy’s Saipem for work on the Shah Deniz and Azeri-Chirag-Gunashli (ACG) offshore projects in Azerbaijan. Under the contract, Saipem, in cooperation with BOS Shelf and BOS Shelf International, FZCO agreed with the operator of Azerbaijani projects BP on …
Gazprom Extended the License for the Chayandinskoye Field for 176 Years
PJSC Gazprom extended the license for the Chayandinsky hydrocarbon site in Yakutia. The relevant information has been published in the state register of subsoil areas and licenses. According to the changes made, the company will manage the field until the end of 2204. Previously, the license for the Chayandinsky site …