Surgutneftegaz Reduced Oil Production by 4.8% in 2024
Surgutneftegaz reduced its oil production by 4.8% in 2024 to 53.7 million tonnes, and oil refining decreased by 1.1% to 17.5 million tonnes, according to the company’s materials. “In 2024, the company’s oil production amounted to 53.7 million tonnes, and gas production was 6.2 billion cubic meters,” the draft annual …
Rosneft Implements Artificial Intelligence in Core Analysis
Rosneft continues its digital transformation of the oil and gas industry, taking work with geological data to a qualitatively new level. Specialists at the company’s Tyumen research institute have developed and implemented a service based on large language models (LLM) to automate the analysis of lithological core descriptions. The digital …
Alaska Promised Exemption from Oil and Gas Production Ban
During his visit to Alaska, U.S. Interior Secretary Doug Burgum promised to reverse a decision by the previous administration and “free up” 13 million acres of land—out of a total of 23 million acres—for oil and gas production. Joe Biden had previously designated these lands as “special zones.” Companies such …
Rosneft Improves Methods for Studying Gas and Gas Condensate Wells
Rosneft’s research institute specialists in Ufa have enhanced the corporate software complex RN-VEGA by adding the capability to perform comprehensive analysis of dynamic data from gas and gas condensate wells without requiring their shutdown. The improved functionality of the digital product allows for detailed modeling and analysis of well performance …
Chevron and Exxon Plan to Enter Gas Production Projects in Algeria This Year
Algeria’s State Company Sonatrach Plans to Sign an Agreement on the Development of a Large Hydrocarbon Deposit with Chevron, Said the Country’s Minister of Energy Mohamed Arkab The country also expects to sign contracts with ExxonMobil by the end of the year for the development of very important fields that …
BP Does Not Rule Out the Possibility of Developing Gas Reserves at the Karabakh Field
BP plc, in addition to oil production, plans to consider the possibility of developing the gas reserves of the Karabakh field in the future, said Colin Allan, Vice President for Finance in the Azerbaijan, Georgia, and Turkey region, at the Baku Energy Forum. “Although at present we are predominantly focused …
Rosneft Produced 61.2 Million Tonnes of Hydrocarbons in Q1 2025
Rosneft’s hydrocarbon production in the first quarter of 2025 amounted to 61.2 million tonnes of oil equivalent, which is 8.1% lower than the level in January-March 2024. This information comes from the company’s Q1 2025 results, prepared in accordance with International Financial Reporting Standards (IFRS). Liquid hydrocarbon production in the …
ExxonMobil and SOCAR Sign Agreement for Onshore Oil and Gas Exploration and Production in Azerbaijan
ExxonMobil and Azerbaijan’s state energy company SOCAR have signed an agreement for the exploration and production of oil and gas onshore in Azerbaijan. Meanwhile, BP is acquiring new offshore fields in the country. According to Reuters, oil production in Azerbaijan primarily relies on mature offshore oil fields in the Caspian …
Supercritical CO2 Proposed Instead of Water for Hydraulic Fracturing
Scientists from Perm Polytechnic University, in collaboration with colleagues from China, have developed a method of enhanced waterless hydraulic fracturing. This could improve the efficiency of oil and gas production from unconventional reservoirs, according to a report from PNIPU obtained by the Devon news agency. Shale oil and gas deposits …
Record $26.62 Billion Investment Planned for Norway’s Oil and Gas Industry
The volume of capital investment in Norway’s oil and gas sector could reach a historic high this year, according to a study published on Tuesday by the Norwegian Statistics Agency, as reported by Reuters. The country’s key economic sector is expected to invest 269.1 billion Norwegian kroner ($26.62 billion) in …