American Baker Hughes Will Support a Gas Project in Algeria
American oilfield services company Baker Hughes announced the signing of a major contract with the largest Algerian state-owned oil and gas company SONATRACH, specializing in the production, processing and sale of oil and natural gas. The contract is part of a wider order for the construction of booster plants, Phase …
The Russian Federation Can Increase Oil Reserves by 7 Billion Tons Using Hard-to-Recover Reserves by 2050
And gas – 5 trillion cubic meters, says Igor Shpurov, Director General of the State Commission for Mineral Reserves of the Russian Federation. Russia needs to develop technologies for the development of hard-to-recover reserves in order to increase profitable oil reserves by 7 billion tons and gas reserves by 5 …
US Oil Production Remained at 13.1 Million Barrels Per Day
Oil production in the United States for the week ending May 17 remained at the previous week’s level of 13.1 million barrels per day, according to the weekly review of the Energy Information Administration of the country’s Ministry of Energy. On average, over the past four weeks, oil production in …
For the First Time in 30 Years. An Oil Field Was Discovered on the Shelf of the Democratic Republic of Congo
Muanda International Oil Company (MIOC, a subsidiary of the Anglo-French Perenco) has explored oil deposits on the continental shelf of the Democratic Republic of the Congo (DRC). This was reported by the Perenco press service. This is the first success in geological exploration on the shelf of an African country …
Rosneft Commissioned a New Laboratory in the Orenburg Region
The Samara Scientific Institute of Rosneft opened a modern laboratory in the city of Buzuluk, Orenburg Region. The new division was created to control the quality of reagents used in the processes of drilling, production and oil preparation of one of the largest producing companies of the Company – Orenburgneft. …
It is Planned to Establish a Security Zone of 565 m Around Russia’s Largest Offshore Drilling Platform
Security zones are planned to be installed around the Orlan and Berkut platforms. The Russian Ministry of Transport has prepared an order to establish security zones around the Orlan and Berkut offshore stationary platforms. As follows from the text of the draft document published on the Federal portal for posting …
Santos and Repsol Consider Selling Stakes in Alaska Oil Fields
Santos and Repsol are considering selling a minority stake in oil fields they jointly own and develop in Alaska. The deal could cost about $1 billion. Oil fields include the Pikka project, one of the largest in Alaska. Its value is estimated by consulting firm Rystad Energy at $4.5 billion. …
China Will Explore Oil and Gas Fields in Iraq
Chinese companies are increasingly entering the oil and gas exploration market. They have already won five bids for exploration of Iraqi deposits – the only ones from foreigners, by the way. CNOOC Iraq has won the tender to develop Iraq’s Block 7 for oil exploration, which stretches across the country’s …
Oil and Gas Companies Pull Out of UK North Sea Sector Due to Tax Pressure
Oil and gas companies operating in Britain’s North Sea offshore sector are consolidating and moving overseas as Britain’s windfall tax cuts into profits and the opposition Labor Party threatens to increase taxes if it wins the next general election. This was reported by Reuters. A change in strategy could accelerate …
Chevron Will Leave the UK North Sea after More than 55 Years of Operation
American Chevron Corp. will sell its remaining oil and gas assets in the British part of the North Sea, where it has operated for more than 55 years, the Financial Times writes, citing a company statement. The decision follows a review of Chevron’s global portfolio to identify strategic and competitive …