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$17B in New Deals for World’s Largest Gas Field May Indirectly Go to Russia

OilPrice

Iran has awarded US$17 billion of contracts to attempt to reverse a dramatic projected production decline from the worlds biggest gas reservoir. trillion cubic metres (tcm) of gas reserves plus 18 billion barrels of gas condensate. Its South Pars field spans 3,700 square kilometres and holds an estimated 14.2

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Kazakhstan Reaches Record Oil Production of 2.12 Million bbl/d, Exceeding OPEC+ Quota

Egypt Oil & Gas

Kazakhstan has increased in February its crude oil and gas condensate production by 13% to a record of 2.12 million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. Excluding gas condensate, Kazakhstan’s crude oil production surged by 15.5%

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South Pars Gas Refinery Shows Strong Performance in 2024/25

Egypt Oil & Gas

In addition to sweetened gas, the refinery also produced over 7.26 million barrels of gas condensates, more than 34,000 metric tons of granulated sulfur, and over 373,000 liters of natural gas odorant in 1403, using 100% domestically sourced materials.

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Factbox-Energy assets affected by Russia-West standoff and sanctions

Oil & Gas 360º

In 2020-2021, global commodity traders Trafigura, Vitol and Mercantile joined Vostok oil, Rosnefts flagship project that is expected to produce up to 2 million barrels per day (bpd) by 2030, but left it after February 2022. OMV Putin also ordered the transfer of OMV stakes in Russian ventures in December 2023. OMV paid 1.75

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CanCambria Energy Corp announces resource evaluation report for the Kiskunhalas tight-gas project, southern Hungary

Oil & Gas 360º

billion cubic feet (BCF) natural gas and 66.5 million barrels (MMBBL) condensate/natural gas liquids (NGL) net to the company (un-risked). BCF natural gas and 53.2 MMBBL condensate/NGL. The resulting seismic-derived facies models provide a significant improvement over all older characterization efforts.

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BP Enters Into Series of Azerbaijan Deals

Rigzone

million barrels of oil equivalent per day by 2030, “with capacity to increase further to 2035” BP pointed out in its release that the Shah Deniz Compression project is valued at $2.9 billion and that the company operates the Shah Deniz gas field with a 29.999 percent participating interest.