VGAS – Production & Drilling Update Report for July 2020
Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, is pleased to provide the following update on its average production volumes for July 2020. Production Report The average production in July 2020 was 3,590 barrels of oil equivalent per day (10.5% higher than June 2020). This increase was driven by …
East Siberian Oil and Gas Company: Begins Development of the Yurubcheno-Tokhomskoye field
The East Siberian Oil and Gas Company (part of Rosneft) drilled the first production well in the Vendian deposits of the Yurubcheno-Tokhomskoye field in the Evenki municipal district of the Krasnoyarsk Territory. The layers of the Vendian deposits lie on the surface of the most ancient productive Riphean deposits on …
Caspian Sunrise: Raises £1m From New Placement – Acidization For Deep Wells Planned For August
Caspian Sunrise, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that it has raised £1 million through the placing (“Placing”) of 36,363,629 new ordinary shares (“Placing Shares”) in the capital of the Company to new and existing investors at an issue price of 2.75 pence per share …
OPEC Daily Basket Price: Wednesday, 5 August 2020, Stood at $45.34 a Barrel
Vienna, Austria, 6 August 2020–The price of OPEC basket of thirteen crudes stood at $45.34 a barrel on Wednesday, compared with $44.27 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 (Congo), …
BP Set to Return to Kazakhstan After 11 Years
Under new plans, British multinational oil and gas giant BP will collaborate with state-owned KazMunayGas (KMG) company to explore for hydrocarbons in Central Asia’s wealthiest country. The companies have already picked some promising deposits, which are currently being examined. The Kazakh company, however, did not name any specific project, while BP has shown …
Tatneft: Figures Demonstrating Operation Results in July and Seven Months of 2020
Crude Oil Production Enterprises of the TATNEFT Group of Companies produced 2,026 thousand tonnes of crude oil in July 2020 with the production volume from the beginning of the year amounting to 15,286 thousand tonnes, which was 2,148 thousand tonnes less than during the same period in 2019. PJSC TATNEFT’s …
BP: Quarterly Results
Underlying replacement cost loss for the quarter was $6.7 billion, compared with a profit of $2.8 billion for the same period a year earlier. The result was driven primarily by non-cash Upstream exploration write-offs – $6.5 billion after tax – principally resulting from a review of BP’s long-term strategic plans …
TATNEFT Produces 10 Million Tons of Super-Viscous Oil
Since the beginning of development, TATNEFT has produced 10 million tons of extra-viscous oil (HVO). TATNEFT began production of EHV in 2006, for the first time in Russia introducing its own development technologies based on steam gravity drainage by twin horizontal wells. Subsequently, a transition was made to a more efficient …
NOV: A History of Weight Saving in the Caspian Sea
With weight and corrosion being critical and continuous drivers for both greenfield and brownfield projects offshore, our Bondstrand™ composite systems provide the trusted solution to reduce total cost of ownership and operational expense. The Azeri—Chirag–Gunashli (ACG) field in the Caspian Sea celebrated its 25th anniversary in 2019, since being awarded …
NOVATEK-Tarkosaleneftegas Commences Production from the the North-Russkoye and East-Tazovskoye Fields
PAO NOVATEK announced that NOVATEK-Tarkosaleneftegas, a wholly owned subsidiary, commenced pilot production from gas condensate bearing layers of the North-Russkoye and East-Tazovskoye fields with cumulative total annual production capacity of 7.7 billion cubic meters of natural gas and 1 million tons of gas condensate. “Our production growth in the area …