Turkish Military Will Look after Exploration in Somalia
Earlier, the Ministry of Energy of Turkey announced that already this year the country will begin exploration off the Somali coast. Work will be carried out as part of an agreement on cooperation in the field of energy between the two countries. Turkey has long been cooperating with the Federal …
Belorusneft Plans to Reach 280 Thousand Meters of Annual Rock Penetration by 2030
The company is constantly working to improve the oil production process, discovering and adapting the latest methods and technologies to the characteristics of the Belarusian region. The main emphasis is on the so-called “difficult” meters of rocks, hard-to-recover hydrocarbon reserves. And the company is demonstrating serious progress in this direction. …
US Trade Regulator Slows Down ConocoPhillips’ Takeover of Competitor Marathon
ConocoPhillips said it has received a second request from the US Federal Trade Commission (FTC) for information about its proposed acquisition of rival Marathon Oil. Both companies received requests on July 11 and are working with the FTC to review the merger. In May, Conoco said it would pay $22.5 …
Geology for the Future: Opening a New Page of Cooperation of the BRICS Countries
The rapid development of the global economy, the introduction of new digital technologies, the growth of the planet’s population dictates the need to change the approach to the country’s resource and energy support. Currently, fossil fuel provides approximately 84% of the world and 88% of Russian energy consumption. According to …
“Investments in the Development of Hard-to-Recover Reserves in Small and Medium-Sized Fields Will Help to Avoid Resource Shortages”
New deposits and the development of difficult deposits could replenish the country with mineral reserves, but “if the process is not changed, Russia may face a shortage of necessary resources.” This forecast is given by Sergei Neruchev, an expert in the field of mining, candidate of geological and mineralogical sciences, …
Tatneft Will Participate in the Project to Develop the Bibi-Heybat Field in Azerbaijan
The head of the company, Nail Maganov, noted that Bibi-Heybat is one of the oldest deposits in the republic. Tatneft will participate in a project to develop one of the oldest fields in Azerbaijan – Bibi-Heybat, where it will work together with the Azerbaijani company Socar on the introduction of …
Energy Recovery During Waterflooding Will Reduce the Cost of Oil Production
Perm Polytechnic scientists have developed a technology to increase the efficiency of oil production. To do this, during reservoir flooding, the energy already expended during production is reused. The Devon News Agency learned about this from a message from the Perm National Research Polytechnic University. Waterflooding is the injection of …
India’s Oil Minister Calls for Intensified Hydrocarbon Production
Hardeep Singh Puri noted that this is necessary to reduce the republic’s dependence on imports Indian Oil and Natural Gas Minister Hardeep Singh Puri called for intensified oil and gas production on his territory to reduce the South Asian republic’s dependence on imports and ensure fuel availability. According to NDTV, …
The Number of Drilling Rigs in the US Fell by 13% Compared to Last Year
The number of operating oil drilling rigs, a key indicator of future production, fell again in the US to 478, the lowest since 2021. The number of drilling rigs in the US has been steadily falling: in 2023, the decline was 20%, and in 2024, the decline continued. The reason …
Turkmenistan Produced 40.2 Billion Cubic Meters of Gas and 4.2 Million Tons of Oil in the First Half of the Year
During the meeting, it was reported that gas production in the country in January-June 2024 exceeded 40.2 billion cubic meters, oil extraction amounted to 4.2 million tons, Interfax writes with reference to local media. However, comparative data with last year is not provided. Earlier, it was reported that for the …