BP Plans To Invest $1.5 Billion In The Development Of The Oil And Gas Industry In Egypt
The company’s chief executive, Murray Auchincloss, is also interested in the possibility of investing an additional $5 billion in this area in the future. The British company British Petroleum (BP) intends to invest at least 1.5 billion in the development of the oil and gas sector of the Egyptian economy. …
The Increase In RussNeft Reserves In 2023 Amounted to 130%
Production amounted to 6.434 million tons of oil and 2.11 billion cubic meters. m of gas. The increase in Russneft reserves in 2023 amounted to 130%, production – 6.434 million tons of oil and 2.11 billion cubic meters of gas, the company reported. The increase in reserves is estimated at 8.3 …
Bashneft Replenished Oil And Gas Reserves By 135% In 2023
Bashneft (part of the Rosneft structure) in 2023, due to successful geological exploration, increased hydrocarbon reserves by 24.4 million tons of oil equivalent, the production replacement rate with reserves was 135%. Every year, Bashneft ensures full replenishment of liquid hydrocarbon production due to the increase in reserves. In this way, …
The Economic Effect From The Implementation Of The Orenburgneft Energy Saving Program In 2023 Exceeded 219 Million Rubles
The Orenburgneft company, the largest producing asset of Rosneft in the Volga region, saved more than 60 million kWh of electricity in 2023, which in monetary terms amounted to more than 219 million rubles. The effect was achieved thanks to the implementation of a program to increase energy efficiency and …
Somalia Intends To Produce The First Oil In Its History By The End Of The Year
Development will be carried out at fields in the states of Galmudug, South-West and Jubaland. Somalia will begin producing oil on its territory for the first time in history later this year. This was reported by the Garowe portal with reference to the Minister of Petroleum and Mineral Resources of …
An Absolute Record For Daily Penetration Was Set At Belorusneft
The record was recorded at well No. 445 of the Rechitsa oil field and was carried out by the team of the Svetlogorsk Drilling Operations Department No. 9. The previous record of daily penetration of 700 m was set on December 4 last year at well No. 441 of the …
Occidental Petroleum Reduces Rig Count In Permian Basin
Occidental’s costs are reduced by drilling activity, but it will be able to cover part of the debt from the purchase of CrownRock. Capital spending on shale production and exploration will be cut by $320 million and two drilling rigs in the U.S. Permian Basin will be idled this year, …
Oilmen Used Induction Defrosting Of Wells
This made it possible to easily restart the equipment without heavy special equipment in the current frosty and snowy winter. Tatneft has found an effective way to maintain uninterrupted operation of oil production facilities during frosts. During severe frosts, freezing manifolds sometimes require restarting production and injection wells. Warming wells …
Kazakhstan Intends To Compensate For Exceeding Oil Production Obligations In January
The country’s Ministry of Energy did not provide data on how much Kazakhstan exceeded its oil production obligations in January. The Kazakh authorities will continue to fulfill their obligations to reduce oil production under the OPEC+ agreement this year. At the same time, the republic will compensate for the excess …
NIOC To Close $14 Billion Worth Of Deals To Develop Iran’s Oil And Gas Fields By End Of March
The head of the National Iranian Oil Company (NIOC) said the company is set to award contracts worth $14 billion to local companies to develop the country’s oil and gas fields by the end of the current Iranian calendar year (March 19). Speaking in a television interview, Mohsen Khojasteh-Mehr said …