Chevron Expands Angola Assets
Chevron has signed two risk service contracts (RSCs) for Block 49 and Block 50 in the ultra-deepwater Lower Congo Basin of Angola through its Angolan subsidiary Cabinda Gulf Oil Company Limited, kicking off exploration work and laying the groundwork for development of the blocks, the African Energy Chamber said in …
Iran to Sign Oil Contracts Worth $2 Billion
National Iranian Oil Company (NIOC) CEO Mohsen Hojasteh Mehr said Iran plans to sign oil development contracts worth more than $2 billion. Agreements will be signed for the development of the Changule and Band-e-Karhe fields, as well as for the purchase of crude oil refining services. Under the current government, …
Zarubezhneft Increased Oil Recovery in Cuba
Production at Boca de Jaruco has increased thanks to the technological innovations of the Russian company, said the head of the Russian Ministry of Energy, Sergei Tsivilev, at a meeting with Cuban Deputy Prime Minister Ricardo Cabrisas. The Boca de Jaruco field is located in the north of Cuba and …
Surgutneftegaz in 2023 Obtained 56.4 Million Tons of Oil and 7 Billion Cubic Meters of Gas
The head of the company Vladimir Bogdanov reported that Surgutneftegaz is counting on the preservation of oil production in 2024 at 2023. Surgutneftegaz oil production in 2023 amounted to 56.4 million tons, and gas – 7 billion cubic meters, the company reports. “In 2023, the volume of oil production of …
Alexander Dyukov: The Peak of Technological Dependence in Prey is Passed
The point of the highest dependence of the companies in the Russian Federation on Western technologies for the extraction of hydrocarbons has been passed, said the head of Gazprom Neft, Alexander Dyukov. According to him, in the next three years it will be possible to achieve complete technological independence, writes …
Gazprom Neft Without Digital Technologies and AI Would Have Produced Half as Much Oil
The head of the company Alexander Dyukov noted that the terms of implementation of large projects would be seven to eight years, not three years. Gazprom Neft, through the use of digital technologies and artificial intelligence, was able to significantly expand the production potential, as well as increase financial indicators, …
Maxim Reshetnikov Urged to Be Prepared for Zeroing Out the Mineral Extraction Tax
The mineral extraction tax (MET) in Russia, including oil, will have to be zeroed out at some point in order to maintain production volumes; a new period of the super cycle is beginning – falling prices, said Russian Minister of Economic Development Maxim Reshetnikov. “It is very important for us …
Saudi Arabia Plans to Increase Oil Production Capacity in the Next Three Years
Energy Minister Prince Abdulaziz bin Salman noted that there are also plans to increase oil export capabilities. Saudi Arabia will increase its oil production capacity in the next three years, said Saudi Arabian Energy Minister Prince Abdulaziz bin Salman during a speech at the St. Petersburg International Economic Forum (SPIEF). …
TotalEnergies Advances Block 58 Project in Suriname
On the occasion of the Suriname Energy Oil and Gas Summit 2024, Javier Rielo, Senior Vice President Exploration & Production Americas at TotalEnergies, and Annan Jagesar, CEO of Staatsolie Maatschappij Suriname NV, the National Oil Company of Suriname, announced important steps towards a final investment decision for the development of …
Shell to Be Allowed to Drill Again on South Africa’s Wild Coast Subject to Public Consultation
The South African Court of Appeal has overturned a previous ruling and allowed Shell to explore for oil and gas on South Africa’s environmentally sensitive offshore strip along the pristine Wild Coast. There is a catch: Shell must consult with the public before starting work. In fact, the lack of …