LUKOIL Received a License for Development of The Demenevsky Subsoil Site
The LUKOIL-PERM enterprise was recognized as the winner of the auction for the right to use the subsoil of the Demenevsky site, located in the south of the Perm Territory. Its area is more than 159 km², its recoverable resources are 1.8 million tons of hydrocarbons. The license for geological …
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 …
The Bill on Stimulating Geological Exploration Was Adopted in the First Reading
The document proposes a simplified mechanism for re-issuing licenses and admitting private companies to the regional stages of geological exploration. Issues of liberalizing the circulation of exploration licenses were regularly raised by subsoil users. Now, to expand their resource base, they can only buy licenses together with a legal entity …
Rosgeo Was Concerned about the Lack of Investment in Geological Exploration
The lack of investment in geological exploration (GE), observed against the backdrop of the need to replenish the mineral resource base (MRB) of scarce and import-dependent types of minerals, is of concern. This statement was made by Deputy General Director of Rosgeologia Arthur Uzyunkoyan during a meeting of the Federation …
Geological Exploration in Russia is Effective Even During a Crisis, Gazprom Neft Believes
The work of Russian geological exploration has not stopped – everyone has learned to ensure the continuity of processes, said Masalkin, director of geological exploration of the company The domestic geological exploration industry is supported by the state, and is itself looking for new technologies and tools to work effectively …
Director of Geological Exploration at Gazprom Neft: We Have Found the Technological Key to 20% of the Achimov Formation in Western Siberia
Yuri Masalkin spoke about trends in the industry and priorities for Gazprom Neft Geological exploration is a basic element of the work of any mining company. Without the resource component, the business planning horizon of an oil company is critically narrowed. But geological exploration is also the highest-risk stage; the …
Brazilian Petrobras Will Invest About $300 Million in Drilling Two Exploration Wells
Brazilian state oil company Petrobras plans to invest about $300 million to drill two exploration wells in the deep waters of the Potiguar Basin after environmental licenses were issued last week. The license, awarded by environmental agency Ibama on Friday, is Petrobras’ first since 2013 to drill in the so-called …
Rosnedra Notes a Sharp Decline in Funding for Geological Exploration on Sakhalin
According to the head of the department of geology of oil and gas, groundwater and structures of the agency Nina Erofeeva, this is due to the pandemic and sanctions Rosnedra has noted a sharp decline in funding for geological exploration work on Sakhalin since 2020 amid the coronavirus pandemic and …
Oil Majors Begin Exploration Renaissance – WoodMac
Oil and gas exploration spending is recovering from pandemic lows. Wood Mackenzie reports that after record profits in 2022, oil majors have more courage, and the ESG agenda in many countries has faded into the background amid the energy crisis. Britain’s Shell and BP and France’s TotalEnergies said this year …
Exxon and Hess Abandon Guyana Oil Block
US companies have abandoned exploration of the Kaieteur block in deepwater Guyana after disappointing exploration results. Exxon, Hess said they now want to focus on the highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered. The Kaieteur block, abandoned by Exxon and Hess, …