The Russian Federation Can Increase Oil Reserves by 7 Billion Tons Using Hard-to-Recover Reserves by 2050
And gas – 5 trillion cubic meters, says Igor Shpurov, Director General of the State Commission for Mineral Reserves of the Russian Federation. Russia needs to develop technologies for the development of hard-to-recover reserves in order to increase profitable oil reserves by 7 billion tons and gas reserves by 5 …
Towing of the Saturn Drilling Rig from Turkmenistan to Azerbaijan Has Been Completed
The Saturn oil drilling rig was delivered from Turkmenistan to Baku (Azerbaijan) accompanied by support vessels belonging to Azerbaijan Caspian Shipping Company CJSC (ASCO). The three-day operation involved the vessels “Andoga”, “Neftegaz 64” and “Mardakan” of the ASCO Caspian Sea Oil Fleet in the port of Turkmenbashi. CJSC Azerbaijan Caspian …
Italian Saipem Has Signed a Contract with Azule Energy to Develop the Ndungu field offshore Angola
The contract value is $850 million. Italian energy company Saipem has awarded a contract to Azule Energy, a joint venture between Eni and BP, to develop the Ndungu field as part of the Agogo Integrated West Hub project offshore Angola. Saipem is one of the largest in the world, an …
ADNOC Will Buy 10% of Galp’s Shares in the Zone 4 Concession in Mozambique
Abu Dhabi’s national oil company ADNOC has agreed to acquire a 10% stake in Portugal’s Galp Energia’s Zone 4 concession in the gas-rich Rovuma Basin in Mozambique. The Zone 4 concession is located offshore Cabo Delgado Province in northern Mozambique and is managed by Mozambique Rovuma Venture (70%), owned by …
US Oil Production Remained at 13.1 Million Barrels Per Day
Oil production in the United States for the week ending May 17 remained at the previous week’s level of 13.1 million barrels per day, according to the weekly review of the Energy Information Administration of the country’s Ministry of Energy. On average, over the past four weeks, oil production in …
For the First Time in 30 Years. An Oil Field Was Discovered on the Shelf of the Democratic Republic of Congo
Muanda International Oil Company (MIOC, a subsidiary of the Anglo-French Perenco) has explored oil deposits on the continental shelf of the Democratic Republic of the Congo (DRC). This was reported by the Perenco press service. This is the first success in geological exploration on the shelf of an African country …
Westwood Energy Predicts Stagnation in the Drilling Market
Westwood Energy predicts a decline in global demand for onshore drilling rigs. On average, oilmen will use 4,413 rigs this year, which is 6% lower than the forecast made by experts at the end of last year. The drop is due to stagnant oil prices and high costs of servicing …
Uzbekistan Plans to Enter the Shah Deniz project in the Caspian Sea
Uzbekneftegaz plans to become a participant in the project to develop the Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea, Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov told reporters on Tuesday. “Uzbekneftegaz” and SOCAR (State Oil Company of Azerbaijan, SOCAR) may sign an …
Rosneft Commissioned a New Laboratory in the Orenburg Region
The Samara Scientific Institute of Rosneft opened a modern laboratory in the city of Buzuluk, Orenburg Region. The new division was created to control the quality of reagents used in the processes of drilling, production and oil preparation of one of the largest producing companies of the Company – Orenburgneft. …
It is Planned to Establish a Security Zone of 565 m Around Russia’s Largest Offshore Drilling Platform
Security zones are planned to be installed around the Orlan and Berkut platforms. The Russian Ministry of Transport has prepared an order to establish security zones around the Orlan and Berkut offshore stationary platforms. As follows from the text of the draft document published on the Federal portal for posting …