Seismic Exploration Work Completed at the Vostochno-Bovanenkovskiy License Area
Gazprom Dobycha Nadym has completed seismic exploration at the Vostochno-Bovanenkovskiy license area with an area of 859 sq. km. This was reported by the Gazprom press service. The work included seismic surveys carried out by Gazprom Nedra. 164 people and 60 units of special equipment participated in these works. The …
BP and Trinidad and Tobago’s State Energy Company NGC Have Won a US License to Develop Gas in Venezuela
BP and Trinidad and Tobago’s state energy company NGC have been granted a two-year license by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to develop the Cocuina and Manakin gas fields, which cross the border with Venezuela, according to the Trinidad and Tobago Energy Chamber’s website. Washington …
BP Receives US Permit to Extract Gas in Venezuela
British BP and its partner from Trinidad and Tobago, NGC, were able to obtain a license from the US authorities to work in Venezuela. The license was issued for 2 years to explore the Manakin-Cocuina gas asset, Reuters writes, citing the Trinidad Ministry of Energy. It is specified that BP …
Europe Wants to Find an Alternative to Russian Gas Imports in Algeria
Algerian state-owned Sonatrach will sign an agreement to develop a large hydrocarbon field with Chevron in the next few days, said Algerian Energy Minister Mohamed Arkab. According to him, another document is being prepared for signing with ExxonMobil. Agreements with Western companies will concern the development of new hydrocarbon fields …
Russia Increased Gas Production in January-April by 8.8%
In particular, gas production in April amounted to 46 billion cubic meters. In January-April 2024, Russia increased natural gas production by 8.8% compared to the same period in 2023, to 210 billion cubic meters. This follows from Rosstat data. In particular, gas production in April amounted to 46 billion cubic …
BP Suspends Negotiations with Venezuela to Develop Manakin-Cocuina Gas Field
BP has suspended negotiations with Venezuela on the development of a gas project on the maritime border with Trinidad and Tobago. This was reported by Reuters with reference to a company representative. BP’s negotiations with Venezuela and Trinidad to develop the Manakin-Cocuina field in the Caribbean, which is common to …
ExxonMobil Will Explore Opportunities to Develop Hydrocarbon Resources in Algeria’s Ahnet and Gourara Basins
Algeria’s national oil and gas company Sonatrach and the American ExxonMobil have signed a Memorandum of Understanding (MoU). This was reported by the Sonatrach press service. The MoU was signed in the presence of Sonatrach CEO R. Hachichi and ExxonMobil Vice President for Exploration and New Opportunities D. Ardill. It …
Norwegians Invest as Much as Possible in Oil and Gas
Norwegian investment in oil and gas in the country will reach a record high of NOK 246.9 billion ($23.6 billion) this year and will remain high in 2025 due to a number of new developments as well as cost inflation, Reuters writes. The previous record was recorded in 2014 at …
American Baker Hughes Will Support a Gas Project in Algeria
American oilfield services company Baker Hughes announced the signing of a major contract with the largest Algerian state-owned oil and gas company SONATRACH, specializing in the production, processing and sale of oil and natural gas. The contract is part of a wider order for the construction of booster plants, Phase …
The Russian Federation Can Increase Oil Reserves by 7 Billion Tons Using Hard-to-Recover Reserves by 2050
And gas – 5 trillion cubic meters, says Igor Shpurov, Director General of the State Commission for Mineral Reserves of the Russian Federation. Russia needs to develop technologies for the development of hard-to-recover reserves in order to increase profitable oil reserves by 7 billion tons and gas reserves by 5 …