Belorusneft: We Constantly Support the Growth Trend of Annual Oil Production
“We constantly support the trend of annual oil production growth. And this year is no exception,“ Petr Povzhik stressed. “The technologies that we use today for the development of hard-to-recover reserves are mainly related to drilling long extended horizontal shafts (at least 2 km each horizontal well) and performing multi-volume …
Marathon Oil’s Net Profit Increased by Almost 20% in the Second Quarter
In the second quarter of 2024, the American oil company Marathon Oil increased its net profit and revenue, and also confirmed the annual production forecast. In April–June, the company‘s net income increased to $349 million, or 62 cents per share, from $287 million, or 47 cents per share, a year …
British Harbour Energy Expects to Close the Acquisition of Wintershall Dea at the Beginning of the Fourth Quarter of 2024
Harbour Energy, the UK‘s largest oil and gas producer, has published results for the first half of the year. The production forecast for 2024 has been improved with confirmation of the forecast for 2025. In the report, the company also said that the results achieved this year in various areas …
The Benchmark for the Record. Belorusneft Plans to Reach 232 Thousand Meters of Rock Penetration in 2024
“Over the past five years, in the Republic of Belarus, we have performed a total of more than 3 thousand square kilometers of 3D seismic, about 4 thousand square kilometers of 3D seismic materials processing, drilled 209 thousand meters of rocks in the direction of search and exploration, drilled 52 …
The Graifer field Will Be Brought to Its Design Capacity of 1.2 Million Tons in 2028
The output of the design capacity of the Valery Graifer deposit in the Russian sector of the Caspian Sea of 1.2 million tons is planned for 2028, according to the state report on the state and use of mineral resources in 2022, published by the Ministry of Natural Resources and …
Libya to Cut Oil Production Due to Protests
We are talking about fishing at the Al–Sharara field, about 300 thousand barrels are produced per day. The Libyan National Oil Corporation (NOC) has announced the beginning of a reduction in oil production at one of the country‘s largest fields, Al–Sharara, due to the actions of protesters. “The National Oil …
A Composite Pumpjack Has Been Created in Russia
It is lighter and more durable than metal ones. The Higher School of Petroleum (Almetyevsk) has developed a pumpjack with nodes made of composite material. It is lighter than an ordinary metal pumpjack, which oilmen are used to. The new equipment is also less energy-consuming, the news agency “Devon“ learned from …
Equinor and ExxonMobil Transfer Shares in a Marine Block in Suriname, Media Reported
Norwegian oil and gas group Equinor is leaving Suriname and, together with ExxonMobil, is transferring shares in the deepwater exploration block to the American energy company Hess, Reuters reports. “Equinor and ExxonMobil announced on Wednesday that they had transferred their shares in a deepwater oil and gas exploration block off …
Bloomberg: Russia has reduced production drilling under the OPEC+ agreement
From January to June, 14370 km of production wells were drilled in Russia, which is 2.5% less than in the same period a year ago. The slowdown follows Moscow‘s voluntary commitments under the OPEC+ deal, Bloomberg writes, citing industry data. Bloomberg points out that in June, Russia produced 9.139 million …
Rosneft Has Started Production of More Environmentally Friendly Drilling Fluids
Angarsk Petrochemical Company (part of the Rosneft oil refining and petrochemical complex) has started production of Rosneft Drilltec B2lh drilling fluids, which have improved environmental characteristics due to the use of a low-viscosity hydrocarbon base. A new technology for the production of a more environmentally friendly hydrocarbon base has been …