Spanish Repsol Regains Control over Oil Fields in Venezuela
Repsol has signed an agreement with the Government of Venezuela and the state-owned company Petróleos de Venezuela SA (PDVSA) to regain control over one of its production assets in the South American country, which will allow the Spanish company to increase output. This was reported by the Financial Times (FT). …
QazaqGaz and CNPC Signed a Contract for the Development of the Severnoye-1 Subsoil Block in Kazakhstan
On April 15, the Ministry of Energy of Kazakhstan hosted the signing of a contract for the exploration and production of hydrocarbons at the Severnoye-1 subsoil block in the Aktobe Region.This was reported by the ministry’s press service. The document was signed by Vice Minister of Energy E. Akbarov, Deputy …
Gazprom Group Began Oil Production at Block 6A of the Achimov Formations of the Urengoy Field
The first commercial oil inflow was ensured by four wells and two mobile oil treatment units. In the future, for the full-scale development of block 6A, more than 40 wells will be drilled and the existing field infrastructure will be utilised. The Achimov oil formations of the Urengoy field are …
Canadian Condor Set a Production Record in Uzbekistan
Canadian Condor Energies has set a new production record in Uzbekistan — more than 14 thousand barrels of oil equivalent per day. This was reported by the company’s press service. The increase in performance was achieved through the commissioning of the horizontal well Kumli-46 (K-46). As of April 13, 2026, …
MIPT Scientists Developed a Model Predicting Oil Properties During Production
Scientists from the Moscow Institute of Physics and Technology (MIPT) have developed a model and a machine learning system that accurately predicts oil properties during production. According to the developers, this will enable more efficient oil recovery, the MIPT press service told RIA Novosti. Rock formations are permeated with numerous …
Tatneft Expands Its Shale Oil Resource Base
Expert Explains the Rationale Behind the Acquisition of the Severo-Irgizsky Block in the Samara Region Tatneft-Samara acquired the Severo-Irgizsky subsoil block in the Samara Region at auction. The block, covering an area of 302 square kilometres, is located in the Bolshechernigovsky and Bolsheglushitsky districts. Under the licence, the block can …
Belorusneft Increases Drilling Activity
Belorusneft is increasing drilling activity. In March, the company’s well stock increased by 9 new wells.This was reported by the company’s press service. Leader – Rechitsa Area The main increase came from the Rechitsa field, where 5 wells were drilled: No. 544 (2,949 m); No. 557 (3,185 m); No. 300 …
TotalEnergies Created the Largest Independent Hydrocarbon Producer in the United Kingdom
The French company TotalEnergies has completed the merger of its upstream business in the United Kingdom with NEO NEXT and created the combined group NEO NEXT+.This was reported by the company’s press service. The combination of upstream assets of TotalEnergies and NEO NEXT Energy Ltd in the North Sea is …
Kaliningrad Offshore Area Transferred to Caspian Oilmen
LUKOIL-Kaliningradmorneft has been placed under the management of LUKOIL-Nizhnevolzhskneft LLC. The restructuring was carried out to centralise the management of LUKOIL’s offshore projects. The changes took place in the fourth quarter of 2025, according to Interfax. The managing company is expected to conduct production and commercial activities aimed at the …
Restoration of Oil Production at Tengiz Enabled Kazakhstan to Increase Output by 2% in March Compared to February
Kazakhstan increased oil and gas condensate production in March 2026 following the restoration of output at the giant Tengiz field.This was reported on April 1, 2026, by Reuters, citing a source familiar with Kazakhstan’s industry statistics. Contribution of Tengiz According to the report: oil and gas condensate production in Kazakhstan …