The Egyptian Parliament Approved a Deal With Lukoil Overseas for Oil Exploration and Production
Ahmed al-Awadi, Chairman of the Committee on Defense and National Security in the Egyptian Parliament, said that the agreement is being implemented as part of his country’s oil and gas sector development strategy. The House of Representatives (lower house of parliament) of Egypt approved a bill allowing the Minister of …
In January-November, Azerbaijan Reduced Oil and Condensate Production By 7.4%, and Increased Gas Production By 4.1%.
Oil production with gas condensate in Azerbaijan in January-November 2023 amounted to 27 million 695.4 thousand tons, which is 7.4% lower than the same period in 2022, the State Statistics Committee told the Interfax-Azerbaijan agency. Including, the production of commercial oil with condensate amounted to 27 million 597.8 thousand tons …
China Increased Oil Production By 2.5% and Gas Production By 5.3% in November
China increased oil production in November by 2.5% compared to the same month last year to 17.2 million tons, the State Statistics Administration reported. For eleven months, production amounted to 191.25 million tons, which is 1.8% higher than the figure for the same period in 2022. The volume of oil …
Equinor Will Increase Its Stake in a Gas Field in The Norwegian Sea
Equinor will increase its stake in the Linnorm gas field in the Norwegian Sea, the transaction is expected to be closed in the first quarter of 2024, according to a company press release. “Equinor will acquire a 30% stake in PL 255, which owns the Linnorm field, subject to the …
British Shell, American APA and Argentine YPF Have Confirmed Their Interest in Searching For Oil Off The Coast of Uruguay
Uruguay’s state energy company ANCAP has signed contracts for four offshore blocks with three oil and gas players under the framework of the Open Uruguay Round, in effect since 2019. As a result, the British Shell, the American corporation APA and the Argentine national oil company (NOC) YPF will be …
LUKOIL Has Created the Largest-Scale Model of a Field in the Russian Federation
The digital twin of the Vatyeganskoye field in the Khanty-Mansi Autonomous Okrug covered the entire chain – from the reservoir to the central oil collection and treatment point. LUKOIL-Western Siberia has introduced an innovative model for managing hydrocarbon production based on integrated operations. The “smart field” project was implemented at …
Khudainatov’s Company is Expanding Its Assets in Khanty-Mansi Autonomous Okrug
IPC acquired subsidiaries of the British Ruspetro, and Nyaganneft acquired a number of wells in Yugra. The buyer of the former assets of the Ruspetro oil company in Khanty-Mansi Autonomous Okrug-Yugra was the Independent Oil and Gas Company, owned by former Rosneft President Eduard KHUDAINATOV. IPC acquired the bankrupt companies Inga …
Kazakhstan Intends to Reduce Oil Production From January 2024
According to the statement of the Republic’s Ministry of Energy, the country’s obligations under OPEC+ in the first quarter of 2024 will amount to 1.468 million barrels per day. Kazakhstan intends to reduce oil production starting in January 2024 as a contribution to preventing uncertainty in the oil market. This …
Venezuela Will Begin Issuing Gas and Oil Licenses in Disputed Essequibo
Venezuela will begin issuing licenses for the exploration and production of gas and oil in the territory of Essequibo, which is disputed by this Latin American country and Guyana, follows from the words of Venezuelan President Nicolas Maduro. “PDVSA (the largest oil and gas state company in Venezuela) will create …
BP Began Drilling the First Production Well from a New Platform at ACG
BP-Azerbaijan announced the start of drilling the first production well from the new Central East Azeri (CEA) platform in the Azeri-Chirag-Gunashli (ACG) block in the Azerbaijani sector of the Caspian Sea. “Drilling of the first production well from the CEA platform began on December 4,” the company said in a …