Orenburgneft Replenished Hydrocarbon Reserves By 168% In 2023
The Orenburgneft company, which is part of the oil-producing asset of Rosneft, replenished reserves by 168% in 2023. The company’s employees discovered one new oil field and 19 new deposits within existing fields. The total increase in recoverable reserves at the end of the year amounted to more than 16 …
Russia Has Created a Method For Monitoring Oil Production Without Expensive Sensors
Specialists from the Perm National Research Polytechnic University (PNRPU) have developed a system for monitoring and managing the operating parameters of pumps in oil production plants, replacing expensive sensors, the breakdown of which increases the financial and time costs of enterprises. The press service of the university reported this. “To …
Mining Black Gold, Mining Rocks. Belarusian Oilmen About 2023 Records
2023 was a fruitful year for Belarusian oilmen in discovering new fields, as well as a record year in terms of black gold production, BelTA learned from the Belorusneft enterprise. In 2023, Belorusneft produced 1,876 thousand tons of oil. According to the company, this is a record figure for 28 …
KazMunayGas And Eni Will Invest $300 Million in Exploration of The Kazakh Sector of The Caspian Sea
Kazakhstan is intensifying geological exploration of the Caspian Sea, which has not been carried out for the last few years, and has taken the Italian Eni as a partner. KazMunayGas and the Italian Eni plan to explore the Kazakh Caspian shelf for hydrocarbons jointly, reports 24KZ TV channel with reference …
Aker BP And Equinor’s North Sea Exploration Drilling Results Were Unsatisfactory
Norwegian oil and gas companies Aker BP and Equinor have explored new oil reserves near the Munin field in the North Sea. This was reported by the press service of the Norwegian Offshore Directorate (NOD). Exploration drilling at block 30/12 The Norwegian Ocean Industry Authority (NOIA), formerly known as the …
Kassym-Jomart Tokayev Revealed The Cost of Undiscovered Deposits in Kazakhstan
President of Kazakhstan Kassym-Jomart Tokayev, during an investment roundtable in Rome, said that the republic has more than 5 thousand undiscovered deposits worth over 46 trillion dollars. As part of his official visit to Rome, Tokayev spoke at the Kazakhstan-Italy investment round table, in which about 30 companies took part. …
NOC Announced The Resumption of Oil Production at One of Libya’s Largest Fields
According to Libya al-Ahrar, the resumption of oil production was made possible thanks to the consent of local residents to leave Ash-Sharare. The Libyan National Oil Corporation (NOC) announced the termination of force majeure at one of the largest fields in the country, Al Sharara, and the resumption of oil …
Oil Production in Azerbaijan in 2024 Will Be About 29.5 Million Tons
The Azerbaijani government forecasts oil production in the country in 2024 at 29 million 492.3 thousand tons, a government source told Interfax-Azerbaijan. Actual data on oil production in the country for 2023 have not yet been published. However, the Accounts Chamber of Azerbaijan reported in November that oil production in …
The US Department of Energy Slightly Lowered Its Brent Price Forecast For 2024
The department believes that it will be $82.49 per barrel. The US Department of Energy lowered its forecast for the price of Brent crude oil in 2024 by less than $0.1 compared to the previous forecast – to $82.49 from $82.57 per barrel, according to a report from the ministry’s …
India Begins Producing Oil Off The Coast of The Bay of Bengal
Prime Minister Narendra Modi congratulated the Petroleum and Natural Gas Corporation of India on the commencement of oil production from its flagship deepwater project in the offshore Krishna-Godavari basin, the Prime Minister’s Office said in a statement. The state-controlled Indian Oil and Natural Gas Corporation (ONGC) began maiden oil production …