Khanty-Mansi Autonomous Okrug Authorities Put Oil Fields Up for Sale for 170 Million Rubles
The authorities of the Khanty-Mansi Autonomous Okrug put up for auction licenses for the development of five oil and gas fields. The total cost of subsoil plots is almost 170 million rubles. “Applications are being accepted for bidding for the acquisition of the right to use the subsoil plots “Maloteterinsky”, …
Alexey Miller and Head of SOCAR Rovshan Najaf Hold Working Meeting
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rovshan Najaf, President of the State Oil Company of the Azerbaijan Republic (SOCAR), took place. The parties discussed the matters pertaining to the cooperation between the companies in the gas sector. Source
The US Shale Industry is Burning More and More APG
Texas oil producers are trying to get rid of excess natural gas by flaring it. Regulator The Railroad Commission of Texas (RRC) last week approved 21 requests from operators, mostly in the Permian and Eagle Ford shale plays, for exemptions from the flaring ban. Moreover, the requested combustion volumes are …
Gazprom Made a Loss at the End of the Year for the First Time in 25 Years
Gazprom in 2023 received a net loss under IFRS in the amount of 629 billion rubles. A year earlier, the group’s profit amounted to 1.2 trillion rubles. At the end of 2023, Gazprom went to a loss, which amounted to 629 billion rubles. against profit of 1.23 trillion rubles. a …
A New Large Oil Field Has Been Discovered in Hungary
Hungarian oil and gas company MOL said it had discovered a new field in the central part of the country that could produce about a thousand barrels of oil per day. “MOL, together with the Hungarian company O&GD Central Kft., carried out successful drilling in Central Hungary, near the village …
RN-Uvatneftegaz begins creating infrastructure at the Tavrichesky field
RN-Uvatneftegaz (part of the oil production complex of Rosneft) is starting to create an industrial infrastructure for the development of a new field – Tavrichesky. A set of geological exploration activities was carried out at the field, 11 prospecting and exploration wells were drilled. To effectively develop complex reserves in …
The President of Cyprus Discussed Cooperation in the Development of Gas Fields with the Head of ENI
The parties, in particular, spoke about the results of drilling work at the Cronos and Zeus wells in the country’s exclusive economic zone, the government Bureau of Press and Information noted. The President of Cyprus, Nikos Christodoulides, discussed cooperation in the development of gas fields with the CEO of the …
Transocean Signs Offshore Drilling Contract at $505,000/day
Offshore drilling contractor Transocean has announced an offshore drilling contract at a bargain price above $500,000/d amid continued demand for high-performance offshore drilling rigs. General Director D. Thigpen spoke about this during the webcast of the April 29 report on Transocean’s profits for the 1st quarter. 2024 Deepwater Asgard contract …
Rystad Energy Forecasts Maximum Investment in Deepwater Projects This Year
Capital spending on new deepwater drilling is forecast to hit a 12-year high next year, according to consultancy Rystad Energy. Once upon a time, the shale revolution somewhat pushed back interest in the development of shelf hydrocarbons. However, recent deep-sea discoveries off Guyana, Namibia and the Gulf Coast are bringing …
Astana and Tatneft May Begin Oil Production Near Tengiz in 2028
KazMunayGas and Tatneft have approved a plan for geological exploration at the Karaton Podsolevoye field next to the Tengiz field, and plan to begin production there by 2028 KazMunayGas plans to begin oil and gas production at the Karaton Podsolevoy site in Kazakhstan, jointly with Tatneft, in 2028. A plan …