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 …
An Ozonizer will Help Purify Wastewater in Oil Fields
It automatically stimulates bioprocesses in sewer systems. Scientists from the Tomsk University of Architecture and Civil Engineering, together with the Tomskneft company, have developed a unique technology for dynamic ozone stimulation of biological processes. The Devon News Agency learned about this from a message from the university. Next year it …
Oil Prices are More Likely to Rise Than Fall, Analysts Say
The black gold market is rocking against the backdrop of the war in Gaza, anti-Russian sanctions and the weak recovery of leading economies. By the end of the year, the world may experience an oil shortage, the International Energy Agency predicts. At the same time, there is a “swing” in …
For the First Time, a Laser was Used to Burn out Oil Spills on Water
The Rosatom installation allows eliminating oil pollution at low temperatures. Rosatom specialists tested a mobile laser complex for removing oil spills on the surface of water. The experiment was carried out in the Sea of Okhotsk off the coast of Sakhalin. Laser technology developed by TRINITY Institute specialists was used …
Oil Production at ACG in 2023 was Carried Out from 136 Wells
Oil production from the Azeri-Chirag-Gunashli (ACG) block in January-September 2023 was carried out from 136 production wells, the press service of the bp company (operator for the development of the Azeri-Chirag-Gunashli, ACG) block of fields told Interfax-Azerbaijan. ). “In January-September 2023, six oil production, five water injection and one gas …
Oil Production in Azerbaijan in 2023 will Amount to 30.5 Million Tons
Oil production with condensate in Azerbaijan in 2023 compared to 2022 will decrease by 6.7% – to 30.5 million tons. This assessment is indicated in the conclusion of the Accounting Chamber on the draft state budget for 2024, which is available to the Interfax-Azerbaijan agency. In 2024, as the Chamber …
Petronas and ExxonMobil Discovered an Oil Field Offshore Suriname
Petronas Surinam E&P (a subsidiary of the Malaysian energy giant Petronas), and ExxonMobil Exploration and Production Surinam (a subsidiary of the American ExxonMobil), have explored new oil deposits on the continental shelf of Suriname. This was reported by the Petronas press service. Exploration well Roystonea-1 located in block 52, approximately …
Britain Intends to Annually Issue New Licenses for Gas and Oil Production
The UK government expects that this will reduce dependence on energy imports and also provide 200 thousand jobs The UK government intends to legislate the annual issuance of new licenses for the development of oil and gas fields to strengthen national security. This was announced by the office of Prime …