Vaar Energi Discovers New Oil and Gas Field in the Norwegian Sea
Norwegian oil company Vaar Energi announced on Monday the discovery of an oil and gas field at the Vidsyn block in the Norwegian Sea. According to preliminary data presented by the company, recoverable reserves at the new field are estimated in the range of 25 million to 40 million barrels …
Gas Production in Uzbekistan Decreased by 3.1% in the First Half of the Year
Natural gas production in Uzbekistan in January–June decreased by 3.1% compared to the same period last year, amounting to 21.786 billion cubic meters, while oil production dropped by 11.2% to 323.8 thousand tonnes, according to the national statistics committee of the republic. Additionally, gas condensate production in the country decreased …
Italian Company Eni to Sponsor Gas Field Development in Indonesia
Italian energy company Eni plans to invest $10 billion in the development of offshore gas fields in Indonesia’s East Kalimantan province, according to Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia. “The proposed investment of ten billion dollars in East Kalimantan will be directed toward the development of offshore …
SLB’s Profit Exceeds Forecasts Due to Steady Demand for Oilfield Services
SLB’s performance improvement occurred due to stable demand for its services in certain international regions, which helped offset the slowdown in drilling operations in North America, Mexico, and Saudi Arabia. The company, the first among the major American oilfield service providers to release its report, had previously noted reduced activity …
Sierra Leone to Auction 60 Offshore Oil and Gas Blocks at the End of the Year
Sierra Leone will delay its new oil and gas auction until the end of the year as the country awaits results from a large-scale seabed survey that has just concluded — the first such study in over ten years, according to Reuters. Last month, the company GeoPartners, together with the …
Shell and Partners to Increase Gas Production Capacity at Ormen Lange by 50 Billion Cubic Meters
To increase production volumes at the Norwegian gas field Ormen Lange, a consortium led by Shell has commissioned two new subsea compression stations. This step is aimed at accelerating the development of gas reserves supplied to European markets. According to Shell, the commissioning of the compressors will increase the gas …
TotalEnergies Acquires Stake in Suriname Offshore to Expand Gran Morgu Project
French oil and gas company TotalEnergies has announced the acquisition of a 25% stake in Block 53 on the Surinamese offshore shelf from Spanish company Moeve, Reuters reports. The value of the deal was not disclosed. This transaction strengthens the presence of the French energy giant in one of the …
TotalEnergies to Acquire a Stake in Chevron’s Offshore Asset Portfolio in the U.S.
French energy company TotalEnergies is acquiring a 25% working interest in Chevron’s U.S. offshore exploration asset portfolio, according to the company’s statement. “TotalEnergies announces the acquisition of a 25% working interest in a portfolio of exploration blocks on the U.S. offshore shelf from Chevron (the operator),” the release states. The …
Israel launched strikes on Iran’s South Pars gas field
Israeli drones attacked Iran’s South Pars gas field in the Persian Gulf, Iranian media reported on Saturday. According to the Mehr news agency, Israel “attacked Phase 14 of the South Pars field using small drones.” The attack reportedly caused fires to break out in several locations. Source
Oil companies in Khanty-Mansi Autonomous Okrug incurred half a billion rubles in losses in the first quarter
Oil-producing companies of Yugra have lost over 600 million rubles since the beginning of the year, reports the Tyumenstat portal. “Net financial result of organizations: crude oil and natural gas production. [Loss] 619,558.5 million rubles. [Profit] 135.530 million,” Tyumenstat states. Earlier, URA.RU reported that an oil company went into the …