The Ministry of Natural Resources Stated That Gas Reserves in The Russian Federation Have Remained at The Same Level For More Than 20 Years Due to Geological Exploration
At the current level of production, its provision with gas reserves is more than 100 years, the department assured. Gas reserves in Russia have been kept at the same level for more than 20 years due to restoration work. The supply of gas reserves at the current production level is …
The Egyptian Parliament Approved a Deal With Lukoil Overseas for Oil Exploration and Production
Ahmed al-Awadi, Chairman of the Committee on Defense and National Security in the Egyptian Parliament, said that the agreement is being implemented as part of his country’s oil and gas sector development strategy. The House of Representatives (lower house of parliament) of Egypt approved a bill allowing the Minister of …
Vladimir Putin Instructed to Transfer the Assets of Achimgaz to Gas Technologies LLC
Russian President Vladimir Putin ordered the transfer of Achimgaz assets to the Russian Gas Technologies LLC; the corresponding decree was published on the official legal information portal. “The Government of the Russian Federation creates Russian limited liability companies, to which, on the basis of this Decree, all the rights and …
The President Signed a Law on the Abandonment of Unactive Licenses for Geological Exploration
President Vladimir Putin signed amendments to the law “On Subsoil”, designed to stop the practice of “sleeping” licenses for geological exploration – now the payment for subsoil will be increased several times if geological exploration of a site is delayed. The document was published on the official legal information portal. …
Gazprom Expects Increased Investment in Hydrocarbon Production in the World
Gazprom predicts an increase in the volume of investments in the exploration and production of hydrocarbons in the world by the end of the year, and for the first time since 2019 it will exceed $500 billion, said the deputy head of the department – the head of the company’s …
In January-November, Azerbaijan Reduced Oil and Condensate Production By 7.4%, and Increased Gas Production By 4.1%.
Oil production with gas condensate in Azerbaijan in January-November 2023 amounted to 27 million 695.4 thousand tons, which is 7.4% lower than the same period in 2022, the State Statistics Committee told the Interfax-Azerbaijan agency. Including, the production of commercial oil with condensate amounted to 27 million 597.8 thousand tons …
Naftogaz of Ukraine Launched New Wells For Gas Production
The state gas production company Ukrgazdobycha, part of the Naftogaz of Ukraine group, launched two more wells, which increased production by more than 200 thousand cubic meters of gas per day, the company’s press service reported on Tuesday. Ukrgasvydobuvannya commissioned two high-yield wells. Both were drilled at the same field: …
Belorusneft and Gazprom Neft Subsidiaries Intend to Develop Cooperation
A memorandum of cooperation was signed by representatives of Belorusneft and subsidiaries of Gazprom Neft PJSC, BelTA learned from the company. The delegation of Gazprom Neft PJSC got acquainted with the work of Belorusneft divisions during a three-day visit to the Gomel region. A memorandum of bilateral cooperation was signed …
China Increased Oil Production By 2.5% and Gas Production By 5.3% in November
China increased oil production in November by 2.5% compared to the same month last year to 17.2 million tons, the State Statistics Administration reported. For eleven months, production amounted to 191.25 million tons, which is 1.8% higher than the figure for the same period in 2022. The volume of oil …
Vladimir Putin Ordered to Deprive Wintershall and OMV of a Stake in Russian Assets
Putin signed decrees depriving Wintershall and OMV of their shares in two joint ventures with Gazprom. Putin ordered the creation of an LLC to manage the Yuzhno-Russkoye and sections of the Achimov deposits of the Urengoy oil and gas condensate field; SOGAZ and Gas Technologies are offered to acquire shares …