Kashagan Oil Exports Reach Milestone
Operator of the field in the Caspian Sea said it’s trying to increase production slowly in an effort to build confidence. By the end of January, the operator of the Kashagan oil field in the Kazakh waters of the Caspian Sea said it exported more than 70 million barrels of …
Questionnaire: Blockchain in Oil & Gas Industry in the Russian Federation
A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data By design, a blockchain is inherently resistant to modification of the data. It is “an open, distributed ledger that can record …
KMG EP Reserves Update as at 31 December 2017
JSC KаzМunaiGas Exploration Production announces the results of an independent audit of liquid hydrocarbon reserves at the Ozenmunaigas JSC, Embamunaigas JSC and the Ural Oil and Gas LLP (KMG EP’s share – 50%) fields as at 31 December 2017. The audit was performed by independent consultant DeGolyer and MacNaughton (“D&M”). …
Growth in Domestic Gas Debt Decreasing for Second Consecutive Year
The Gazprom Management Committee reviewed the information about the Company’s efforts aimed at strengthening financial discipline with regard to domestic gas supplies and the measures taken to address gas debt repayment. It was noted that in 2017, as in previous years, Gazprom had fulfilled all of its obligations for providing reliable gas supplies to domestic consumers, including socially vulnerable groups. However, the …
Operating Results of KMG EP for 2017
JSC KazMunaiGas Exploration Production (“KMG EP” or “Company”) announces its operating results for the year 2017. Production KMG EP, including its stakes in Kazgermunai (“KGM”), Karazhanbasmunai (“CCEL”) and PetroKazakhstan Inc. (“PKI”), produced 11,867 thousand tonnes of crude oil (240 kbopd) for 2017, a 2% decrease over 2016. Ozenmunaigas JSC (“OMG”) …
Top 10 Global Onshore Gas Projects to Add 13.4 Billion Cubic Feet Per Day by 2025, Says GlobalData
Over $103.4bn in capital expenditure will be spent over the lifetime of the top 10 onshore gas projects to produce 125 trillion cubic feet (tcf) of natural gas, according to GlobalData, a leading data and analytics company. These 10 projects, selected from 101 upcoming onshore projects globally, will contribute incremental capacity …
Condor’s Total Production Increases by More Than Four Times with Gas from Turkey
Condor Petroleum Inc., a Canadian based oil and gas company focused on production and exploration activities in Turkey and Kazakhstan, is pleased to announce that commercial production has commenced at the Company’s 100% owned and operated Poyraz Ridge natural gas field in Turkey. Condor’s total production is currently ranging from …
DNV GL Research Forecasts Oil and Gas Capex and R&D Spending Boosts in 2018, but Industry Still Promises to Keep a Cap on Costs
Industry confidence has increased much faster than the oil price, as two-thirds of senior professionals globally plan to maintain or increase capital spending in 2018. 36% expect to increase investment in R&D and innovation – the highest level recorded in four years. Efficiency remains a priority, however, as half of …
PetroNeft Resources plc: Quarterly Production Update
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, provides an update on oil production at Licence 61 in the fourth quarter of 2017. Licence 61 Gross Production Q4-2017 Q3-2017 …
Cadogan Petroleum Plc Operational Update
Cadogan Petroleum plc (“Cadogan”), the London Stock Exchange listed, independent, oil & gas company, is pleased to provide the following operational update post year end. Revenues from E&P operations combined with a further reduction in G&A costs, strict discipline on all spending and a rigorous management of receivables have helped …