Kassym-Jomart Tokayev Revealed The Cost of Undiscovered Deposits in Kazakhstan
President of Kazakhstan Kassym-Jomart Tokayev, during an investment roundtable in Rome, said that the republic has more than 5 thousand undiscovered deposits worth over 46 trillion dollars. As part of his official visit to Rome, Tokayev spoke at the Kazakhstan-Italy investment round table, in which about 30 companies took part. …
NOC Announced The Resumption of Oil Production at One of Libya’s Largest Fields
According to Libya al-Ahrar, the resumption of oil production was made possible thanks to the consent of local residents to leave Ash-Sharare. The Libyan National Oil Corporation (NOC) announced the termination of force majeure at one of the largest fields in the country, Al Sharara, and the resumption of oil …
Oil Production in Azerbaijan in 2024 Will Be About 29.5 Million Tons
The Azerbaijani government forecasts oil production in the country in 2024 at 29 million 492.3 thousand tons, a government source told Interfax-Azerbaijan. Actual data on oil production in the country for 2023 have not yet been published. However, the Accounts Chamber of Azerbaijan reported in November that oil production in …
Gas Production in Azerbaijan in 2024 Will Exceed 49 Billion Cubic Meters
The Azerbaijani government forecasts gas production in the country in 2024 at 49 billion 63.6 million cubic meters, a government source told Interfax-Azerbaijan. Actual data on the country’s gas production for 2023 have not yet been published. However, Energy Minister Parviz Shahbazov reported last October that gas production in Azerbaijan …
The US Department of Energy Slightly Lowered Its Brent Price Forecast For 2024
The department believes that it will be $82.49 per barrel. The US Department of Energy lowered its forecast for the price of Brent crude oil in 2024 by less than $0.1 compared to the previous forecast – to $82.49 from $82.57 per barrel, according to a report from the ministry’s …
India Begins Producing Oil Off The Coast of The Bay of Bengal
Prime Minister Narendra Modi congratulated the Petroleum and Natural Gas Corporation of India on the commencement of oil production from its flagship deepwater project in the offshore Krishna-Godavari basin, the Prime Minister’s Office said in a statement. The state-controlled Indian Oil and Natural Gas Corporation (ONGC) began maiden oil production …
RussNeft Will Resume Work at the Khanty-Mansi Autonomous Okrug Field, Which Was Closed Due to Sanctions
RussNeft will begin developing the Vostochno-Kamnoye field in the Khanty-Mansi Autonomous Okrug, which was suspended in 2023 due to sanctions and the economic crisis. The head of the Khanty-Mansiysk branch of the company, Alexey Shatalov, shared his plans for drilling new wells. “At the Vostochno-Kamenny field, work on industrial development …
ADNOC and Turkmengaz Will Develop the Third Phase at Galkynysh
The national oil company from the UAE – Abu Dhabi National Oil Company (ADNOC) – has agreed with Turkmenistan to participate in the development of the world’s second largest natural gas field. The memorandum of understanding concluded between the companies on the development of the largest gas field in the …
LUKOIL Put Into Trial Operation The Yukkun-Yoganskoe Field in Yugra
LLC LUKOIL-Western Siberia (100% subsidiary of PJSC LUKOIL) has put into trial production the Yukkun-Yoganskoye field in the Khanty-Mansiysk Autonomous Okrug. The fishery is located on the territory of the Nizhnevartovsk region, 30 kilometers from the city of Pokachi. At the exploration stage, seismic exploration work was carried out in …
Russian Oil Production is Preparing to Break the Post-Soviet Record, Media Writes
In the first 11 months of 2023, Russia drilled oil wells with a total depth of 28.1 thousand kilometers, which indicates successful resistance to Western sanctions, Bloomberg writes. The accelerated pace of drilling in Russia may break the post-Soviet record, the publication emphasized. According to analysts from Kpler and the …