Eni Receives Approval for the Abay Subsoil Use Right
The Kazakh Ministry of Energy, KazMunayGas and Eni signed a protocol of direct negotiations to grant the subsoil use right for exploration and production of hydrocarbons within joint operations on Abay, an offshore area in the Kazakhstani sector of the Caspian Sea. he Kazakh Ministry of Energy, KazMunayGas (KMG) and …
NOVATEK: Lower Achimov Development Confirmed
PAO NOVATEK today announced that Arcticgas, a joint venture between NOVATEK and PAO Gazprom Neft, successfully completed a horizontal well number “U2802” targeting the lower Achimov formation at the Urengoyskoye field. An eight-stage hydro-fracturing program was successfully completed utilizing a record-high proppant volume of 2,187 tons at well number “U2802” …
OPEC Daily Basket Price: Thursday, 11 July 2019, Stood at $67.57 a Barrel
Vienna, Austria, 12 July 2019–The price of OPEC basket of fourteen crudes stood at $67.57 a barrel on Thursday, compared with $66.10 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 …
Caspian Sunrise: Updates on BNG Well Operations – New Technologies Being Deployed
The Board of Caspian Sunrise is pleased to provide an operational update on progress across the structures already identified at the BNG Contract Area. Deep Wells A5 The Board is pleased to report success in milling away the 2.6-meter metallic obstruction in Well A5 at a depth of 3,887 meters, …
Shavkat Mirziyoyev Signs Decree Reforming Oil & Gas Sector
On July 9, President Shavkat Mirziyoyev signed a decree “On measures for stable provision of the economy and households with energy resources, financial rehabilitation and improvement of the management system of the oil and gas industry.” The document underscored the inefficiency of exploration, investment projects and pricing, as well as …
Russian Scientists Offer New Acoustic Technology for Far East Offshore Exploration
Development of Sakhalin’s offshore fields is complicated by unique severe ice conditions and requires huge costs, according to the researcher The Far Eastern Federal University in cooperation with Anchar Company suggests using an innovative technology of acoustic low-frequency oil and gas exploration for exploration of fields in the Arctic environment, …
Caspian Sunrise: MJF Structure Moves to Production License
The Board is delighted to announce receipt of the much anticipated MJF license upgrade. Accordingly, the majority of oil produced from the MJF structure on the BNG Contract Area may now be sold by reference to international rather than domestic prices. Background Under the licencing system in Kazakhstan, oil produced …
OPEC Daily Basket Price: Wednesday, 10 July 2019, Stood at $66.10 a Barrel
Vienna, Austria, 11 July 2019–The price of OPEC basket of fourteen crudes stood at $66.10 a barrel on Wednesday, compared with $64.35 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 …
OPEC Daily Basket Price: Tuesday, 9 July 2019, Stood at $64.35 a Barrel
Vienna, Austria, 10 July 2019–The price of OPEC basket of fourteen crudes stood at $64.35 a barrel on Tuesday, compared with $64.72 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 …
OPEC Daily Basket Price: Monday, 8 July 2019, Stood at $64.72 a Barrel
Vienna, Austria, 9 July 2019–The price of OPEC basket of fourteen crudes stood at $64.72 a barrel on Monday, compared with $63.55 the previous Friday, 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), …