Chevron and Exxon Plan to Enter Gas Production Projects in Algeria This Year
Algeria’s State Company Sonatrach Plans to Sign an Agreement on the Development of a Large Hydrocarbon Deposit with Chevron, Said the Country’s Minister of Energy Mohamed Arkab The country also expects to sign contracts with ExxonMobil by the end of the year for the development of very important fields that …
BP Does Not Rule Out the Possibility of Developing Gas Reserves at the Karabakh Field
BP plc, in addition to oil production, plans to consider the possibility of developing the gas reserves of the Karabakh field in the future, said Colin Allan, Vice President for Finance in the Azerbaijan, Georgia, and Turkey region, at the Baku Energy Forum. “Although at present we are predominantly focused …
Rosneft Produced 61.2 Million Tonnes of Hydrocarbons in Q1 2025
Rosneft’s hydrocarbon production in the first quarter of 2025 amounted to 61.2 million tonnes of oil equivalent, which is 8.1% lower than the level in January-March 2024. This information comes from the company’s Q1 2025 results, prepared in accordance with International Financial Reporting Standards (IFRS). Liquid hydrocarbon production in the …
ExxonMobil and SOCAR Sign Agreement for Onshore Oil and Gas Exploration and Production in Azerbaijan
ExxonMobil and Azerbaijan’s state energy company SOCAR have signed an agreement for the exploration and production of oil and gas onshore in Azerbaijan. Meanwhile, BP is acquiring new offshore fields in the country. According to Reuters, oil production in Azerbaijan primarily relies on mature offshore oil fields in the Caspian …
Supercritical CO2 Proposed Instead of Water for Hydraulic Fracturing
Scientists from Perm Polytechnic University, in collaboration with colleagues from China, have developed a method of enhanced waterless hydraulic fracturing. This could improve the efficiency of oil and gas production from unconventional reservoirs, according to a report from PNIPU obtained by the Devon news agency. Shale oil and gas deposits …
Tatneft Prepares for CO2 Injection into the Reservoir
Tatneft has received a subsurface license for the Tukaevsky-1 site in Tatarstan for the construction and operation of underground facilities where the company plans to store carbon dioxide (CO2). The site covers the territories of the Nizhnekamsky, Tukaevsky, and Zainsky districts, according to Interfax. According to the State Register of …
Legendary Samotlor Field Celebrates Its 60th Anniversary
Rosneft celebrates the 60th anniversary of the discovery of the Samotlor oil field, one of the largest in the world. Its history began on May 29, 1965, when the exploratory well R-1 produced its first oil at a flow rate of 300 cubic meters per day. Just four years later, …
TotalEnergies Sells Its Stake in Nigeria’s Bonga Field Development Project to Shell
TotalEnergies EP Nigeria (TEPNG), a subsidiary of France’s TotalEnergies, has signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo), a subsidiary of Shell, to sell its 12.5% stake in the Production Sharing Contract (PSC) for OML 118. This information comes from a joint statement by the companies. …
ADNOC Drilling Acquires 70% of SLB’s Drilling Business in Oman and Kuwait
ADNOC Drilling is acquiring a 70% stake in the drilling business of oilfield services company SLB (formerly Schlumberger) in Oman and Kuwait for approximately $112 million. A joint venture will be established based on these assets. The deal, expected to close in the first quarter of 2026, will give ADNOC …
Gazprom Subsidiary Consolidates Assets in the Khanty-Mansi Autonomous Okrug
Salym Petroleum Development (SPD) Oil Company from the Khanty-Mansi Autonomous Okrug, a subsidiary of Gazprom Neft, has begun a reorganization process. It will merge with the firm Salym-2 from Khanty-Mansiysk. “The company notifies about the reorganization in the form of a merger with Salym-2 LLC. Creditors’ claims may be submitted …