TotalEnergies Acquires Stake in Suriname Offshore to Expand Gran Morgu Project
French oil and gas company TotalEnergies has announced the acquisition of a 25% stake in Block 53 on the Surinamese offshore shelf from Spanish company Moeve, Reuters reports. The value of the deal was not disclosed. This transaction strengthens the presence of the French energy giant in one of the …
India Aims to Replicate Guyana’s Success in Deepwater Oil Exploration
India is stepping up its efforts to boost domestic fossil fuel production, placing special emphasis on deepwater exploration in the Andaman region, and aiming to replicate Guyana’s success. This was stated to journalists by Minister of Petroleum and Natural Gas Hardeep Singh Puri. The minister recalled that the government had …
TotalEnergies to Acquire a Stake in Chevron’s Offshore Asset Portfolio in the U.S.
French energy company TotalEnergies is acquiring a 25% working interest in Chevron’s U.S. offshore exploration asset portfolio, according to the company’s statement. “TotalEnergies announces the acquisition of a 25% working interest in a portfolio of exploration blocks on the U.S. offshore shelf from Chevron (the operator),” the release states. The …
Deepwater production in the United States is more profitable than shale projects
In the spring, Chevron began developing oil and natural gas at the Ballymore deepwater field in the Gulf of America. This is just one of a series of projects in a key American oil and gas province aimed at producing an additional 300,000 barrels of oil equivalent per day by …
Oil companies in Khanty-Mansi Autonomous Okrug incurred half a billion rubles in losses in the first quarter
Oil-producing companies of Yugra have lost over 600 million rubles since the beginning of the year, reports the Tyumenstat portal. “Net financial result of organizations: crude oil and natural gas production. [Loss] 619,558.5 million rubles. [Profit] 135.530 million,” Tyumenstat states. Earlier, URA.RU reported that an oil company went into the …
The Gulf of Mexico Will Save the U.S. from a Sharp Decline in Oil Production
Oil production in the United States is likely to decline next year, but the scale of the downturn will be significantly reduced thanks to the Gulf of Mexico. According to Wood Mackenzie, offshore producers in the Gulf are expected to add 300,000 barrels per day in 2025, and an additional …
A New Drilling Speed Record Has Been Set at the Northern Asset Site of Belorusneft
A new record for well drilling speed has been set at the northern asset site of Belorusneft’s oil company Yangpur, according to a report from BELTA citing Belorusneft. In May and June, teams from Yangpur, the Well Construction Management Center of NGDU Rechitsaneft, Belorusneft-Siberia, and the BN-Nefteservice branch completed the …
Azerbaijan Steps Up Oil Exploration to Offset Depleted Azeri–Chirag–Gunashli Reserves
Against the backdrop of declining production at the Azeri–Chirag–Gunashli field, Azerbaijan has signed exploration agreements with four international companies — ExxonMobil, TPAO, MOL, and Gran Tierra. The focus is on finding new onshore and offshore resources. These agreements emerged from the country’s first open tender, in which 11 companies participated. …
Surgutneftegaz Reduced Oil Production by 4.8% in 2024
Surgutneftegaz reduced its oil production by 4.8% in 2024 to 53.7 million tonnes, and oil refining decreased by 1.1% to 17.5 million tonnes, according to the company’s materials. “In 2024, the company’s oil production amounted to 53.7 million tonnes, and gas production was 6.2 billion cubic meters,” the draft annual …
Rosneft Implements Artificial Intelligence in Core Analysis
Rosneft continues its digital transformation of the oil and gas industry, taking work with geological data to a qualitatively new level. Specialists at the company’s Tyumen research institute have developed and implemented a service based on large language models (LLM) to automate the analysis of lithological core descriptions. The digital …