Costs For Tengiz Increased By Another $1.5 Billion
The operator of the project for the development of the Kazakh Tengiz field, American Chevron, has again increased the amount of necessary investments in the expansion of the project. The cost of expanding production at the giant Tengiz oil field in Kazakhstan has increased by another $1.5 billion, Bloomberg writes, …
BP Is Preparing To Drill A Deepwater Well Offshore Of Brazil After Exploration Attempts By Shell And ExxonMobil Failed
BP is preparing to drill a deepwater well on the Brazilian continental shelf in an attempt to break a string of failures for other oil and gas majors. The company’s press service reports this. Drilling work Drilling operations are planned at the Pau Brasil field in the Santos Basin. On …
ExxonMobil Has Finally Left Iraq
The American oil company has finally abandoned the West Qurna 1 project in southern Iraq, transferring operational functions at one of the world’s largest oil fields to PetroChina. In 2023, the Iraqi authorities approved an agreement to transfer ExxonMobil’s 22.7% share in the West Qurna-1 project to the state-owned Basra …
Shell Finds Hydrocarbons in The Nile Delta
Shell Egypt has successfully drilled its first exploration well in the North East El-Amriya block in the Nile Delta. British Shell bought all shares in the Block 3 project in the Nile Delta from the American ExxonMobil and has already started drilling: the well has been drilled to a depth …
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 …
American Oil and Gas Companies are Leaving Europe and Africa
ExxonMobil and Chevron are increasing investment in the United States, are interested in Latin America, but are leaving European and African assets ExxonMobil and Chevron are increasing their presence in the United States through large acquisitions of American companies operating in the United States. Corporations are also increasing their capital …
India Has Not Received an Offer to Buy Exxon’s Stake in Sakhalin-1
ExxonMobil announced in March 2022 its withdrawal from the project and departure from Russia India has not received an offer to buy Exxon’s stake in the new operator of the Sakhalin-1 oil and gas project. Secretary of the Ministry of Petroleum and Natural Gas of India Pankaj Jain told reporters …
Guyana Could Become the Fastest Growing Oil Province in the World
The consortium, which includes ExxonMobil, US oil company Hess and China’s CNOOC, plans to spend $12.93 billion to develop its sixth offshore oil project in Guyana. The floating production platform for the Whiptail project will start operating in 2027 and will provide more than 1.2 million barrels per day of …
ExxonMobil and Guyana Negotiate to Return Unexplored Offshore Oil Areas
ExxonMobil and Guyana are negotiating which unexplored offshore reserves will be returned to the Guyanese government. This became known after negotiations between ExxonMobil and the authorities of Guyana. Guyanese authorities worry about ExxonMobil’s oil and gas hegemony When oil was discovered in Guyana, no one thought that there would be …
Oil and Gas Production at Sakhalin-1 Reached the Level Before the Start of the Special Operation
Oil and gas production at the Sakhalin-1 project, where work almost completely stopped almost a year ago due to force majeure declared by the American operator ExxonMobil, has returned to the level before the start of Russia’s special operation in Ukraine, Governor of the Sakhalin Region Valery Limarenko said during …