Petroecuador Begins Drilling on Block 44 in Ecuador’s Orellana Province
Ecuador’s state company Petroecuador has started drilling at the Pucuna D-033 well on Block 44, with an estimated additional production volume of 2,500 barrels per day. The start of work in Orellana Province, Ecuador, marks the beginning of the 2025 drilling campaign, according to a press release from Petroecuador on …
It Has Been 55 Years Since the Beginning of Udmurtneft’s Industrial Development of the First Field in Udmurtia
Udmurtneft (a joint venture of Rosneft and the Chinese Petrochemical Corporation Sinopec) 55 years ago began the industrial development of the first oil field in Udmurtia. The production well of the Arkhangelsk field in 1969 produced a high flow rate of high-quality Devonian oil. Currently, the production fund of the …
China Will Begin Searching for Oil and Gas at a Depth of 10 km
China is creating a new organization that will unite national oil producers and other state-owned companies to search for ultra-deep oil and gas reserves, as well as the production of other hard-to-recover reserves, CNPC said, whose statement was cited by Reuters. This is in response to President Xi Jinping’s call …
Westwood Energy Predicts Stagnation in the Drilling Market
Westwood Energy predicts a decline in global demand for onshore drilling rigs. On average, oilmen will use 4,413 rigs this year, which is 6% lower than the forecast made by experts at the end of last year. The drop is due to stagnant oil prices and high costs of servicing …
Iraq Wants to Reopen Mansuriya Gas Field
The Iraqi authorities have authorized the preparation of a deal on the previously mothballed Mansuriya gas field. The government announced this on May 4. Details of the preliminary contract participants: Midland Oil Company of the Ministry of Petroleum and a consortium consisting of the Chinese Jereh Group and Petro Iraq; …
China Will Explore Oil and Gas Fields in Iraq
Chinese companies are increasingly entering the oil and gas exploration market. They have already won five bids for exploration of Iraqi deposits – the only ones from foreigners, by the way. CNOOC Iraq has won the tender to develop Iraq’s Block 7 for oil exploration, which stretches across the country’s …
80 Wells Will Be Drilled in Kazakhstan in 2024 to Search for Oil
According to Vice Minister of Energy Askhat Khasenov, it is planned to drill 80 prospecting and exploration wells in Kazakhstan in 2024, a Kazinform agency correspondent reports. He explained that, given the annual decline in oil production at the fields of the Kyzylorda region, in 2024, drilling of a deep …
Udmurtneft Replenished Oil Reserves By 152% In 2023
The Udmurtneft company (operating under the management of Rosneft Oil Company and the Chinese petrochemical corporation Sinopec) in 2023 replenished oil reserves by 152%. Increasing the efficiency of reserve replenishment is one of the key elements of Rosneft’s development strategy. The company plans to replenish at least 100% of produced …
Sinopec Begins Production At West Sichuan Gas Field
Chinese oil and gas company China Petroleum & Chemical Corp. (Sinopec) began production at a natural gas field in Sichuan province in southwestern China. The company’s press service reports this. West Sichuan Field: located on the western edge of the Chengdu Plain (Chengdu); covers an area of about 139 km2; …
Sinopec Discovered An Ultra-Deep Shale Gas Field In China
Chinese oil and gas company China Petroleum & Chemical Corp. (Sinopec) has discovered a new ultra-deep shale gas field in Sichuan province, the company said in a statement. The Hexingchang field has proven reserves of 133 billion cubic meters of gas, making it the first ultra-deep shale field of this …