Rosgeo, Bashneftegeofizika And MAGE Signed A “Roadmap” For The Development Of Equipment For Geological Exploration With The Russian Government
The Government of the Russian Federation signed with Rosgeologiya, Bashneftegeofizika and the Marine Arctic Geological Exploration Expedition (MAGE) a roadmap for the development of domestic equipment for geological exploration, an Interfax correspondent reported from the signing ceremony. On the part of the government, the document was signed by First Deputy …
There Are No Plans To Create A Single State Oil Service Operator In Russia
First Deputy Minister of Energy of the Russian Federation Pavel Sorokin noted that there are ideas for combining some service assets. The creation of a single state oil service operator in Russia is not currently planned, said First Deputy Minister of Energy of the Russian Federation Pavel Sorokin as part …
Perenco Refused To Join The Project In Cameroon With The Participation Of Lukoil
Another shareholder of the project, the British Bowleven, began negotiations with the joint venture partners on an updated work plan for the field. The Anglo-French company Perenco refused to buy New Age’s share in the Etinde oil and gas project in Cameroon, in which the Russian Lukoil participates. This was …
The Increase In Gazprom Reserves Exceeded Production For The Nineteenth Year In A Row
The increase in Gazprom’s reserves in 2023 again exceeded production volumes; the reserve replacement rate has been above one for the 19th year in a row, the company notes. Exact figures on the increase in reserves, as well as on production indicators, are not given in the message. The largest …
Gas Production in Russia in 2023 Decreased By 5.5%
Production level amounted to 636.7 billion cubic meters. Russia in 2023 reduced gas production by 5.5%, to 636.7 billion cubic meters. m, and Russian pipeline gas exports amounted to 91.4 billion cubic meters. m, said Russian Deputy Prime Minister Alexander Novak in an article for the Energy Policy magazine. At …
Russia Reduced Oil Production By 1% in 2023
This is due to the country’s participation in the OPEC+ agreement, noted Deputy Prime Minister Alexander Novak. In 2023, Russia reduced oil and gas condensate production by within 1%, to about 530 million tons. This happened due to the restrictions of the OPEC+ deal, Russian Deputy Prime Minister Alexander Novak …
Russia Noted An Increase in Oil and Condensate Reserves in The Arctic Zone
No new hydrocarbon deposits were discovered in the Arctic zone in 2023, but the increase in recoverable reserves at existing fields in this region amounted to 13.4 million tons of oil and condensate and 60.6 billion cubic meters of gas, the head of the State Reserves Commission (SRC) Igor Shpurov …
Sinopec Discovered An Ultra-Deep Shale Gas Field In China
Chinese oil and gas company China Petroleum & Chemical Corp. (Sinopec) has discovered a new ultra-deep shale gas field in Sichuan province, the company said in a statement. The Hexingchang field has proven reserves of 133 billion cubic meters of gas, making it the first ultra-deep shale field of this …
Orenburgneft Replenished Hydrocarbon Reserves By 168% In 2023
The Orenburgneft company, which is part of the oil-producing asset of Rosneft, replenished reserves by 168% in 2023. The company’s employees discovered one new oil field and 19 new deposits within existing fields. The total increase in recoverable reserves at the end of the year amounted to more than 16 …
BP Began A Five-Year 4D Seismic Program At ACG Worth $370 Million
On January 20, 2024, BP began implementing a four-dimensional (4D) seismic exploration program at the Azeri-Chirag-Gunashli (ACG) field block in the Azerbaijani sector of the Caspian Sea. “Taking into account the area of the study area, the cost and timing of seismic research, this project is the largest seismic data …