Rosneft Celebrates 15 Years Since the Beginning of Commercial Oil Production at the Vankorskoye field
RN–Vankor (part of the Rosneft oil and gas production complex) celebrates the 15th anniversary of the commissioning of the Vankor field into commercial operation. Its development was the beginning of the creation of the Vankor cluster of fields, which today has become the basis of Vostok Oil, the largest investment …
Turkey Broke the Daily Record for Oil and Gas Production in August
Turkey is increasing its hydrocarbon production in order to get away from import dependence on oil and gas. Turkey has reached new highs in daily oil and gas production: on August 17, oil production reached 107.6 barrels per day, and gas production on August 15 — 7.61 million cubic meters. …
Egypt Is Going to Increase Production of Hydrocarbons from 2025
In order to increase hydrocarbon production, Egypt is forced to pay contributions to foreign oil companies to meet its gas needs. Egypt plans to return oil and gas production to normal levels from 2025 with the help of international partners, Prime Minister Mostafa Madbouli said. The government announced in March …
Oil and Gas Production on the Norwegian shelf Will Peak in 2025
Norwegian companies need to step up exploration and improve production efficiency in order to avoid a drop in oil and gas production after 2025, the Norwegian Offshore Directorate believes. Oil and gas production on the Norwegian continental shelf will reach a maximum in 2025, and then it is expected to …
Alexander Novak: Moscow and Baku Are Considering a New Project on the Caspian Shelf
Russia and Azerbaijan are considering the possibility of implementing new joint projects, including on the Caspian shelf, Russian Deputy Prime Minister Alexander Novak said. “In general, there are a number of new projects, including on the Caspian shelf, which is being considered potentially for joint implementation,“ he told RT. According …
Houston-Based Private Equity Firm Quantum Capital Group Plans to Invest in Natural Gas Production
Quantum Capital Group, a Houston, Texas-based private investment company specializing in the energy industry, acquired the oil and gas assets of the American company Caerus Oil and Gas through two separate portfolio companies QB Energy and KODA Resources for about $1.8 billion. Colorado–based Caerus Oil and Gas (founded in 2009) …
America Is Sitting on a “Downhole” Mine
Over one hundred and fifty years of oil and gas production in the United States, millions of decommissioned wells have accumulated across the country. And what they contain is a real Pandora‘s box of dangerous substances that threaten the well—being of local residents and the environment, writes Oilprice. Many of …
By 2023 about 53% of Russia’s Oil Reserves Were Potentially Preferential
By the beginning of 2023, about 53% of Russia‘s oil reserves were classified as potentially preferential, of which 58% are hard-to-recover reserves. This is reported in the state report “On the state and use of mineral resources of the Russian Federation in 2022“, published by the Ministry of Natural Resources …
BP Has Started Drilling a Second Production Well at the Azerbaijan’s ACG
British BP, the technical operator of the Azeri–Chirag–Guneshli (ACG) offshore project in Azerbaijan, has begun drilling a second well at the field from the Azeri Central East offshore platform. Oil began to be pumped from the first well in April, now the production volume is 8 thousand barrels, Interfax writes. …
The Office of Maritime Policy Will Protect Russia’s Rights on the Shelf
The Office of the President of the Russian Federation for National Maritime Policy will deal with issues of protecting Russia‘s rights on its continental shelf, follows from the regulations on the Office of the President of the Russian Federation for National Maritime Policy. The decree of the President of Russia …