ExxonMobil and SOCAR Sign Agreement for Onshore Oil and Gas Exploration and Production in Azerbaijan
ExxonMobil and Azerbaijan’s state energy company SOCAR have signed an agreement for the exploration and production of oil and gas onshore in Azerbaijan. Meanwhile, BP is acquiring new offshore fields in the country. According to Reuters, oil production in Azerbaijan primarily relies on mature offshore oil fields in the Caspian …
Supercritical CO2 Proposed Instead of Water for Hydraulic Fracturing
Scientists from Perm Polytechnic University, in collaboration with colleagues from China, have developed a method of enhanced waterless hydraulic fracturing. This could improve the efficiency of oil and gas production from unconventional reservoirs, according to a report from PNIPU obtained by the Devon news agency. Shale oil and gas deposits …
Tatneft Prepares for CO2 Injection into the Reservoir
Tatneft has received a subsurface license for the Tukaevsky-1 site in Tatarstan for the construction and operation of underground facilities where the company plans to store carbon dioxide (CO2). The site covers the territories of the Nizhnekamsky, Tukaevsky, and Zainsky districts, according to Interfax. According to the State Register of …
Legendary Samotlor Field Celebrates Its 60th Anniversary
Rosneft celebrates the 60th anniversary of the discovery of the Samotlor oil field, one of the largest in the world. Its history began on May 29, 1965, when the exploratory well R-1 produced its first oil at a flow rate of 300 cubic meters per day. Just four years later, …
TotalEnergies Sells Its Stake in Nigeria’s Bonga Field Development Project to Shell
TotalEnergies EP Nigeria (TEPNG), a subsidiary of France’s TotalEnergies, has signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo), a subsidiary of Shell, to sell its 12.5% stake in the Production Sharing Contract (PSC) for OML 118. This information comes from a joint statement by the companies. …
Gazprom Subsidiary Consolidates Assets in the Khanty-Mansi Autonomous Okrug
Salym Petroleum Development (SPD) Oil Company from the Khanty-Mansi Autonomous Okrug, a subsidiary of Gazprom Neft, has begun a reorganization process. It will merge with the firm Salym-2 from Khanty-Mansiysk. “The company notifies about the reorganization in the form of a merger with Salym-2 LLC. Creditors’ claims may be submitted …
Record $26.62 Billion Investment Planned for Norway’s Oil and Gas Industry
The volume of capital investment in Norway’s oil and gas sector could reach a historic high this year, according to a study published on Tuesday by the Norwegian Statistics Agency, as reported by Reuters. The country’s key economic sector is expected to invest 269.1 billion Norwegian kroner ($26.62 billion) in …
Rosneft Implements New Technology to Optimize Well Construction
Specialists from Orenburgneft have implemented a domestically developed innovation that allows for a reduction in the length of expensive casing strings by using a large-diameter cemented liner hanger. The actual economic effect of this innovation amounts to over 3.5 million rubles per well. The reduction in the metal intensity of …
Rosneft’s Yurubcheno-Tokhomskoye Field Reaches 20 Million Tonnes of Oil Production
The East Siberian Oil and Gas Company (VSNK), a subsidiary of Rosneft, has reached record figures in the development of the Yurubcheno-Tokhomskoye field, located in the Evenki District of Krasnoyarsk Krai. Since the start of commercial operation, 20 million tonnes of crude oil have been extracted. These high results were …
Arbitration Between ExxonMobil and Chevron Over Hess Merger to Begin on Monday
Two major American oil companies, ExxonMobil and Hess, will meet in court on Monday to determine whether Chevron’s planned $53 billion acquisition of Hess will go forward. The key issue at the heart of the dispute is rights to oil fields in Guyana, considered among the richest in the world, …