Belarusian Oilmen Study Chinese Experience of Working with Hard-to-Recover Hydrocarbon Resources
“Representatives of Belorusneft continue their business visit to China. They are studying the experience of working with hard-to-recover unconventional hydrocarbon resources. So, they managed to visit the laboratory and research center of Xi‘an Petroleum University, where they got acquainted with the methods and equipment for conducting special studies of core, …
Houston-Based Private Equity Firm Quantum Capital Group Plans to Invest in Natural Gas Production
Quantum Capital Group, a Houston, Texas-based private investment company specializing in the energy industry, acquired the oil and gas assets of the American company Caerus Oil and Gas through two separate portfolio companies QB Energy and KODA Resources for about $1.8 billion. Colorado–based Caerus Oil and Gas (founded in 2009) …
The Largest Oilfield Services Corporation Expands Its Presence in Russia after the Departure of Competitors
Oilfield services Corporation SLB, formerly known as Schlumberger, is strengthening its position in the Russian market after the departure of Western competitors. This was reported by the Financial Times newspaper. “The documents show that the company also continued to import materials from other sources, importing equipment worth $17.5 million between …
Trump Promises to Increase Oil Production: “Drill, Baby, Drill!”
Trump is pouring out promises: when he becomes president of America, oil production will increase and the cost of energy will fall. The candidate for the post of American leader from the Republicans, Donald Trump, on Thursday again made campaign promises. At his press conference, he said that one of …
America Is Sitting on a “Downhole” Mine
Over one hundred and fifty years of oil and gas production in the United States, millions of decommissioned wells have accumulated across the country. And what they contain is a real Pandora‘s box of dangerous substances that threaten the well—being of local residents and the environment, writes Oilprice. Many of …
KazMunayGas Plans to Produce an Additional 70 Million Tons of Oil Due to Hard-to-Recover Reserves
Kazakh oil company KazMunayGas JSC (KMG) intends to increase production in the future due to hard-to-recover oil, new technologies will be used for this. This was announced by the company‘s press service. “Regarding the increase in production, it was noted that 50% of oil reserves are difficult to recover. The …
Rosneft’s Software Package for Hydrodynamic Modeling Has Received New Features
Rosneft has released a new version of the RN–KIM hydrodynamic simulator. The advanced software package allows you to predict oil production volumes with high accuracy. The advanced functionality of RN–KIM makes it possible to simulate in detail the operation of wells with fractured hydraulic fracturing, as well as take into …
With the Support of Rosneft, Research on the Continental Shelf in the Arctic Ocean continues
With the support of Rosneft within the framework of the strategic initiative of the Ministry of Natural Resources of Russia “Geology. The Rebirth of the Legend“ the exploration of the continental shelf in the Arctic Ocean continues. The day before, a specialized scientific research drilling vessel “Bavenit“ left the port …
Pemex Has Decided to Increase Oil Production from Old Deposits in the Gulf of Mexico
The Mexican state oil company Petroleos Mexicanos (Pemex) has agreed with the private oilfield services company CME Oil and Gas on the reconstruction of the mature Bacab and Lum fields in the Gulf of Mexico, Bloomberg reports. Investments over 15 years are planned in the amount of $1.65 billion. It …
MOL Pakistan Makes 3 New Discoveries in the TAL Block with Razgir-1 Exploratory Well
MOL Pakistan has made 3 significant gas discoveries in the TAL Block, where the company has operated for 25 years and produced hydrocarbons for 19 years. The Razgir-1 exploratory well was spudded on 9 January 2024, and drilled to 3,950 meters. Three successful well tests have been performed so far in …