In Saudi Arabia New Oil and Gas Fields Were Opened
The Minister of Energy of Saudi Arabia, Prince Abdeliaziz Ben Salman, announced the opening of seven new oil and gas deposits in the eastern province of the kingdom and in the Rub-El Khali desert. According to the Minister, which is quoted by the Saudi news agency SPA, the National Oil …
The State Duma Was Proposed to Maintain the 20% Profit Tax for the Vostok Oil Project
The government submitted a proposal to the State Duma to maintain the current tax regime for the profit tax at 20% for the Vostok Oil project, according to amendments to the second reading of the bill on improving the tax system, which Interfax has reviewed. It is noted there that …
World Bank Names 2023 Gas Flaring Rates as Worst in Five Years
Russia named leader in flaring, rates increased in all regions amid declining production. In 2023, associated petroleum gas (APG) flaring rates increased significantly and became the worst in five years, according to the World Bank report. In general, the volume of flared gas increased by 9 billion cubic meters, or …
The Belorusneft Well Stock Was Replenished with 36 New Objects in the First Half of the Year
In January – June, Svetlogorsk drillers drilled 119,521 m of rock. Thus, in June, drilling of 7 new wells was completed – 4 at the Rechitsa field, one each at the Beskopylnovskaya, Vishanskaya, Ostashkovichskaya areas. In June, the team of the rig assembly department handed over four assembled drilling rigs …
Alaska Will Sue Due to Lost Revenues from Oil and Gas Sections
Alaska filed a lawsuit in court, demanding compensation due to loss of income that arose as a result of withdrawal by the federal authorities for the lease of oil and gas plots concluded under the administration of the former president D. Trump. The staff published the corresponding claim document. The …
Sale of Eni and Equinor’s Onshore Assets in Nigeria Is Approved
The Nigerian Petroleum Regulatory Commission (NUPRC) has given the green light for the sale of Eni and Equinor assets to Nigeria’s Oando. The deals had been pending for months as they required approval from the Minister of Petroleum under the recently passed Petroleum Act. Approvals for ExxonMobil’s $1.3 billion sale …
KazMunayGas Introducing New Technologies to Increase Oil Production Rate at Brownfields
KazMunayGas (KMG) discussed the implementation of measures of the roadmaps for technological challenges at the company’s fields. The KMG press service reported this on June 30, 2024. Hard-to-recover reserves The main difficulties at KMG’s mature fields are associated with the development of hard-to-recover reserves (HTR). Currently: The roadmap of technological …
Kazakhstan to Compensate for Excess Oil Production Volumes by September 2025
The Ministry of Energy of the Republic noted that the country has prepared a detailed compensation plan. Kazakhstan is committed to the OPEC+ agreement and intends to compensate for excess oil production volumes by September next year. This was reported by the press service of the Ministry of Energy of …
KazMunayGas is Implementing New Technologies to Increase Average Daily Production Rate at Mature Fields
KazMunayGas (KMG) discussed the implementation of measures of the roadmaps for technological challenges at the company’s fields. This was reported by the KMG press service on June 30, 2024. Hard-to-recover reserves The main difficulties at KMG’s mature fields are associated with the development of hard-to-recover reserves (HTR). The roadmap of …
CNOOC Puts Wushi 23-5 Oil Field Into Operation
Chinese oil and gas giant China National Offshore Oil Corporation (CNOOC) has put the Wushi 23-5 oil field in the South China Sea into operation. This was reported by the company’s press service. Wushi 23-5 The company notes that this project is the first full-scale oil field of “green” design …