Gazprom Board of Directors Approves Investment Program and Budget For 2024
The Gazprom Board of Directors took note of the information about the Company’s preliminary operating results for 2023 and the projected investment program and budget (financial plan) for 2025–2026. The Board of Directors approved the investment program and budget (financial plan) of Gazprom for 2024. The figures of the investment program did not change compared to the version endorsed …
State Funding for Oil and Gas Exploration in 2024 Will Amount to 11.3 Billion Rubles
The Ministry of Natural Resources emphasized that starting from 2022, five objects are being studied within the framework of the federal project “Geology: Revival of a Legend” in order to search for gas deposits. Federal funding for geological exploration of hydrocarbons in Russia in 2024 will remain approximately at the …
Equinor Will Increase Its Stake in a Gas Field in The Norwegian Sea
Equinor will increase its stake in the Linnorm gas field in the Norwegian Sea, the transaction is expected to be closed in the first quarter of 2024, according to a company press release. “Equinor will acquire a 30% stake in PL 255, which owns the Linnorm field, subject to the …
British Shell, American APA and Argentine YPF Have Confirmed Their Interest in Searching For Oil Off The Coast of Uruguay
Uruguay’s state energy company ANCAP has signed contracts for four offshore blocks with three oil and gas players under the framework of the Open Uruguay Round, in effect since 2019. As a result, the British Shell, the American corporation APA and the Argentine national oil company (NOC) YPF will be …
The Cost of Gas Production at SOCAR Fields in 2022 Increased By 10%
The cost of gas production at the fields of SOCAR (State Oil Company of Azerbaijan) in 2022, compared to 2021, increased by 10.35% – to 67.57 manats ($39.74 at the current exchange rate) per 1 thousand cubic meters. Such data are provided in the company’s annual report for 2022, published …
LUKOIL Has Created the Largest-Scale Model of a Field in the Russian Federation
The digital twin of the Vatyeganskoye field in the Khanty-Mansi Autonomous Okrug covered the entire chain – from the reservoir to the central oil collection and treatment point. LUKOIL-Western Siberia has introduced an innovative model for managing hydrocarbon production based on integrated operations. The “smart field” project was implemented at …
Khudainatov’s Company is Expanding Its Assets in Khanty-Mansi Autonomous Okrug
IPC acquired subsidiaries of the British Ruspetro, and Nyaganneft acquired a number of wells in Yugra. The buyer of the former assets of the Ruspetro oil company in Khanty-Mansi Autonomous Okrug-Yugra was the Independent Oil and Gas Company, owned by former Rosneft President Eduard KHUDAINATOV. IPC acquired the bankrupt companies Inga …
Perenco Brazil Announces First Oil to FSO Pargo
Perenco Brazil is pleased to announce that first oil to the Floating Storage and Offloading (FSO) vessel, “FSO PARGO”, has been successfully received following issuance of all operational licensing from the Brazilian regulatory authorities earlier in December. The vessel’s operational start-up is the culmination of significant workstreams from Perenco’s technical …
Petrosibir: Production report November 2023
Petrosibir’s total oil production during November 2023 amounted to 19,721 barrels, equivalent to 657 barrels per day. The table below summarises the average monthly / daily production in 2023 and in 2022, broken down by region. 2022 2023 Average Jan Feb Mar Apr May Jun Total …
Gazprom and CNPC Discuss Joint Work Planned for 2024
The meeting of the Joint Coordinating Committee (JCC) of Gazprom and China’s CNPC moderated by Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Huang Yongzhang, Vice President of CNPC, took place today in Beijing. The meeting participants reviewed the results of their joint activities for 2023 and discussed the plans regarding key areas of cooperation for the …