Due to the Caspian Sea Shallowing KazMunayGas and LUKOIL Will Build a Canal
A “one-time” passage is necessary for the development of the Kalamkas-Sea and Khazar hydrocarbon fields. KazMunayGas and LUKOIL will build a canal in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This will have to be done due to the drop in the Caspian Sea level. Thus, the …
LUKOIL Faces Logistics Challenge in Kazakhstan Project Due to Caspian Sea Shallowness
KazMunayGas (“KMG“) and LUKOIL will build a channel in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This is stated in the project participants’ environmental impact assessment report. The contract area is located in the Kazakh sector of the Caspian Sea, 120 km southwest of the Kashagan field. …
Sierra Leone to Auction 60 Offshore Oil and Gas Blocks at the End of the Year
Sierra Leone will delay its new oil and gas auction until the end of the year as the country awaits results from a large-scale seabed survey that has just concluded — the first such study in over ten years, according to Reuters. Last month, the company GeoPartners, together with the …
Tatneft Prepares for CO2 Injection into the Reservoir
Tatneft has received a subsurface license for the Tukaevsky-1 site in Tatarstan for the construction and operation of underground facilities where the company plans to store carbon dioxide (CO2). The site covers the territories of the Nizhnekamsky, Tukaevsky, and Zainsky districts, according to Interfax. According to the State Register of …
Ministry of Energy of the Republic of Kazakhstan: The Tengiz Field Will No Longer Increase Oil Production
Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, …
The Oilfield Services Subsidiary of Public Joint Stock Company LUKOIL Has Increased Its Turnover
The oilfield services enterprise SpetsPromService, in which Public Joint Stock Company LUKOIL holds a 49.5 percent stake, increased its revenue six hundredfold in the year 2024, reaching 20.4 billion Russian rubles, according to a report by Kommersant. The publication notes that the revenue figures of SpetsPromService are now comparable to …
Lukoil Reduces Oil Production by 2.6 Percent in 2024
According to its annual report, Russian oil company Lukoil reduced its oil and condensate production in 2024 by 2.6 percent, excluding the West Qurna-2 project, to 80.4 million metric tons. Production within the Russian Federation also declined by 2.6 percent, totaling 76.5 million metric tons, which accounted for approximately 15 …
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. …
Drilling Rig on the Ghana Shelf Is Waiting for an Investment Decision on the Project with LUKOIL
The final investment decision on the Pecan project offshore Ghana has not yet been accepted, but a floating drilling rig has already been brought to the site. A floating drilling rig is ready to start work at the Pecan field offshore Ghana (LUKOIL is involved in the project), but the …