Italian Saipem Will Carry Out Work at Shah Deniz and ACG for $300 Million
BP has signed a $300 million contract with a consortium led by Italy’s Saipem for work on the Shah Deniz and Azeri-Chirag-Gunashli (ACG) offshore projects in Azerbaijan. Under the contract, Saipem, in cooperation with BOS Shelf and BOS Shelf International, FZCO agreed with the operator of Azerbaijani projects BP on …
Gazprom Extended the License for the Chayandinskoye Field for 176 Years
PJSC Gazprom extended the license for the Chayandinsky hydrocarbon site in Yakutia. The relevant information has been published in the state register of subsoil areas and licenses. According to the changes made, the company will manage the field until the end of 2204. Previously, the license for the Chayandinsky site …
Geology for the Future: Opening a New Page of Cooperation of the BRICS Countries
The rapid development of the global economy, the introduction of new digital technologies, the growth of the planet’s population dictates the need to change the approach to the country’s resource and energy support. Currently, fossil fuel provides approximately 84% of the world and 88% of Russian energy consumption. According to …
Kazakhstan Intends to Increase Gas Production by 2.3%
The Minister of Energy of the Republic Almasadam Satkaliev said that the main increase in gas production is envisaged at the expense of large fields – Karachaganak, Tengiz and Kashagan. The Ministry of Energy of Kazakhstan plans that gas production in the republic in 2024 will increase by 2.3%, to …
POGC Begins Drilling 35 New Wells in South Pars
Pars Oil and Gas Company (POGC) has begun a project to drill 35 new wells in the South Pars gas field to increase and maintain gas production from the combined giant field. According to POGC, the operation was officially launched on Tuesday at a ceremony attended by the head of …
The IEA Predicts a 6% Increase in Gas Production in Russia in 2024
It could reach 675 billion cubic meters. Gas production in Russia in 2024 could grow by almost 6% and amount to 675 billion cubic meters, follows from the report of the International Energy Agency (IEA) on the gas market. This forecast is higher than the organization’s previous estimate of 670 …
Norilskgazprom Will Drill Five New Wells at the Pelyatkinskoye Gas Condensate Field
The company’s investment in the project will amount to about 10 billion rubles. The Norilskgazprom company (part of Norilsk Nickel) has started drilling five new wells at the Pelyatkinskoye gas condensate field (GCF) for the first time in 10 years; they are planned to be put into operation in 2026, …
India’s Oil Minister Calls for Intensified Hydrocarbon Production
Hardeep Singh Puri noted that this is necessary to reduce the republic’s dependence on imports Indian Oil and Natural Gas Minister Hardeep Singh Puri called for intensified oil and gas production on his territory to reduce the South Asian republic’s dependence on imports and ensure fuel availability. According to NDTV, …
The Number of Drilling Rigs in the US Fell by 13% Compared to Last Year
The number of operating oil drilling rigs, a key indicator of future production, fell again in the US to 478, the lowest since 2021. The number of drilling rigs in the US has been steadily falling: in 2023, the decline was 20%, and in 2024, the decline continued. The reason …
Turkmenistan Produced 40.2 Billion Cubic Meters of Gas and 4.2 Million Tons of Oil in the First Half of the Year
During the meeting, it was reported that gas production in the country in January-June 2024 exceeded 40.2 billion cubic meters, oil extraction amounted to 4.2 million tons, Interfax writes with reference to local media. However, comparative data with last year is not provided. Earlier, it was reported that for the …