Trump Promises to Increase Oil Production: “Drill, Baby, Drill!”
Trump is pouring out promises: when he becomes president of America, oil production will increase and the cost of energy will fall. The candidate for the post of American leader from the Republicans, Donald Trump, on Thursday again made campaign promises. At his press conference, he said that one of …
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 …
KazMunayGas Plans to Produce an Additional 70 Million Tons of Oil Due to Hard-to-Recover Reserves
Kazakh oil company KazMunayGas JSC (KMG) intends to increase production in the future due to hard-to-recover oil, new technologies will be used for this. This was announced by the company‘s press service. “Regarding the increase in production, it was noted that 50% of oil reserves are difficult to recover. The …
Pemex Has Decided to Increase Oil Production from Old Deposits in the Gulf of Mexico
The Mexican state oil company Petroleos Mexicanos (Pemex) has agreed with the private oilfield services company CME Oil and Gas on the reconstruction of the mature Bacab and Lum fields in the Gulf of Mexico, Bloomberg reports. Investments over 15 years are planned in the amount of $1.65 billion. It …
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 …
In Izhevsk Import Units for Cleaning Drilling Fluids Will Be Replaced
They are needed for drilling complex multi-hole oil wells. The Izhevsk company United Solutions has developed gravity deposition units used on drilling rigs. This will allow domestic exploration and oil and gas companies to replace equipment from Europe and the USA. The Devon News Agency learned about this from a …
Nigeria Holds the Status of the Largest Oil Producer in Africa
Nigeria‘s average daily production at the end of July exceeded 1.6 million barrels per day, compared to 1.25 million barrels per day in June, the Nigerian regulator NUPRC claims. Thus, the West African state retains the status of the largest oil producer on the continent. Nigeria‘s reserves are estimated at 37.5 billion …
British Shell Invests in Water Injection at the Vito Field in the Gulf of Mexico
Shell, the largest British oil company, announced that its subsidiary Shell Offshore Inc. has made a final investment decision (FID) on the flooding project at the Vito field in the Gulf of Mexico. The cost of the work was not disclosed. The process of pumping water into the reservoir to …