In January-October, Azerbaijan Reduced Oil and Condensate Production by 8%, Gas Production – Increased by 3.4%
Oil production with gas condensate in Azerbaijan in January-October 2023 amounted to 25 million 68.2 thousand tons, which is 8% 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 24 million 974.4 thousand tons …
The General Director of Vostsibneftegaz has Changed
Anton Kalashnikov has been appointed the new general director of East Siberian Oil and Gas Company JSC (Vostsibneftegaz, part of Rosneft Oil Company), according to the Unified State Register of Legal Entities. Kalashnikov took office on November 16. Before his appointment to the post of manager, Kalashnikov also worked at …
Russia will Help North Korea in Offshore Hydrocarbon Exploration
The Russian Ministry of Natural Resources has agreed on joint geological exploration at offshore hydrocarbon sites in North Korea and is discussing exploration for gold, iron and rare earth metals. The head of the Ministry of Natural Resources of the Russian Federation, Alexander Kozlov, took part in the intergovernmental commission …
To Retain Workers in the Permian Basin, Texas Schools will be Updated
Authorities will invest in upgrading Midland schools to attract and retain family oil shale workers in the community Voters in the US have approved a $1.4 billion bond sale to repair and expand the aging, overcrowded school system in Midland, Texas, the unofficial capital of US shale oil. The initiative …
A New Natural Source of Methane has been Studied
A senior researcher at the Faculty of Soil Science at Moscow State University took part in a study of methane flows from the floodplains of rivers in Western Siberia. Methane is the second most important greenhouse gas after carbon dioxide. The processes of formation and movement of methane in soil …
The Number of Oil and Gas Rigs in the World Increased in October for the First Time in Three Months
The number of active oil and gas drilling rigs in the world increased in October for the first time in three months, according to the American oil services company Baker Hughes. On average, 1,777 installations operated worldwide last month compared to 1,760 in September. At the same time, the October …
Kazakhstan Plans to Produce up to 94 Million Tons of Oil in 2024 – Head of the Ministry of Energy
Kazakhstan expects to produce up to 94 million tons of oil next year, said the Minister of Energy of Kazakhstan Almasadam Satkaliev. “From 90 to 94 million tons, in this range,” Satkaliev told reporters on the sidelines of parliament, answering a question about oil production plans for 2024. Previously, he …
Exploration and Drilling Costs will Increase by 11% This Year, S&P Global Estimates
The global offshore drilling market appears to be booming. Analysts at S&P Global expect exploration and production spending to increase by 11% in 2023, while offshore oil and gas activity is forecast to grow by 20% year-on-year. S&P Global notes: “The time between signing a contract and the start date …
BP Begins Production at the Seagull Field in the North Sea
British BP Plc has begun production at the Seagull oil and gas field in the British sector of the North Sea. The company’s press service reported this on November 6, 2023. Seagull deposit is being developed in conjunction with the Central Process Facility (CPF) that bp operates as part of …
PDVSA and Maurel&Prom Signed an Agreement to Develop Oil and Gas Fields in Venezuela
The Venezuelan state oil company PDVSA and the French Maurel&Prom (beneficiary of the Indonesian Pertamina) signed an agreement aimed at increasing oil and natural gas production in the western region of Venezuela. This was stated by PDVSA General Director P. Tellechea. the companies have agreed to a contract that focuses …