ALROSA and SakhaTransNefteGaz to Develop Hydrocarbon Fields in Yakutia
Diamond mining company ALROSA and national oil and gas firm SakhaTransNefteGaz have entered into a partnership to jointly explore hydrocarbon reserves at the Ulugur and Ergedzhei license blocks in the Republic of Sakha (Yakutia), Russia. The collaboration is carried out through a joint venture named UlugurNefteGaz, according to the company’s …
Drilling Mud to Become a Data Carrier for Subsurface Information
Drilling Mud Transformed into a Real-Time Data Channel by Perm Polytechnic Researchers A team of scientists from Perm National Research Polytechnic University (PNRPU) has developed a groundbreaking technology that turns drilling mud into a data transmission channel, enabling the transfer of real-time information from deep within oil wells. This innovation …
Baker Hughes: U.S. Rig Count Rises for the First Time in Four Weeks
The number of active drilling rigs in the U.S. — a key indicator of future hydrocarbon production — increased by 2 unitsin the week ending April 17, marking the first uptick in four weeks, according to Baker Hughes. The total U.S. rig count now stands at 585, which is 34 …
Russia’s Existing Gas Projects Will Supply No More Than 60% of Production by 2050
The current state of gas field development in Russia shows that 70% of actively producing reserves have already been extracted, according to Igor Shpurov, Head of the State Commission on Mineral Reserves (GKZ). While Russia’s overall gas reserve life stands at 102 years, the remaining operational life of currently active …
U.S. Plans to Expand Offshore Continental Shelf for Drilling
The United States will launch a 45-day public consultation period to gather feedback on a new five-year leasing program for offshore oil and gas exploration. The results of the discussions will shape a long-term plan for resource development on the U.S. Outer Continental Shelf. According to Reuters, the program could …
Lukoil Reduces Proven Hydrocarbon Reserves by 3% in 2024
Lukoil’s proven hydrocarbon reserves decreased by 3% in 2024, totaling 14.689 billion barrels of oil equivalent (boe), according to materials prepared for the company’s upcoming annual shareholders’ meeting. The company noted that 75% of its proven reserves are liquid hydrocarbons, while 25% are natural gas. Russia accounts for 91% of …
Lukoil Reduces Gas Production by 2.3%
Lukoil Reduces Gas Production by 2.3% in 2024 Lukoil reported a 2.3% decrease in gas production for 2024, totaling 34.3 billion cubic meters, according to the company’s annual report. “Gas production in 2024 amounted to 34.3 billion cubic meters, which is 2.3% lower than the previous year,” the report stated. …
Oil Resource Group Trader Will Create a Service “Daughter” in the Field of Oil and Gas Production
Oil Resource Group LLC (ORG), engaged in the fuel trade, will create a service “daughter“ that will provide services in the field of oil and natural gas production, the ORG said in a statement. The decision to create a new legal entity, which will be named Oil Resource Nefteservice LLC, …
Baker Hughes and Iraq to Sign Memorandum on Investments in the Country’s Gas Sector
The American oilfield services company Baker Hughes Co. is preparing to sign a memorandum on investments in the Iraqi gas sector, the office of Prime Minister of the Republic Mohammed al–Sudani said after his meeting with CEO Lorenzo Simonelli. The draft agreement includes plans for the construction of a gas …
A New Gas Production Site Will Be Introduced in Kovykta
Glavgosexpertiza of Russia has issued a positive conclusion for the 13th stage of development of the unique Kovykta gas condensate field. It was put into pilot operation in 2022 and, along with the Chayandinsky field, serves as a resource base for the Power of Siberia gas pipeline and the Amur …