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Pakistan Strikes Critical Win With Oil, Gas Wildcat Discovery

OilPrice

Pakistan’s state-owned Oil & Gas Development Company Limited (OGDCL) has hit a new reservoir of oil and gas at its Faakir-1 wildcat well—an onshore discovery in Sindh province that could help reverse the country’s deepening energy crisis. Drilled to a depth of 4,185 meters, the well tested at 6.4

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New Energy Discovery Could Help Pakistan Cut Costly Fuel Imports

OilPrice

Pakistan Oilfields Limited (POL) and Oil and Gas Development Company Limited (OGDCL) have announced the successful completion of hydrocarbon production testing at the Makori Deep-03 Development Well in the TAL Block in Khyber Pakhtunkhwa. million standard cubic feet of gas per day (MMSCFD), according to a filing by POL.

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ADNOC’s XRG Takes Stake in Offshore Gas Block in Turkmenistan

OilPrice

XRG, the newly created energy investment firm of Abu Dhabis national oil company ADNOC, has taken a 38% stake in a production sharing contract for an offshore block of gas and condensate fields in Turkmenistan. As part of the transaction, XRG and Petronas signed a long-term gas sales agreement (GSA) with Turkmengas.

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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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100 Mbbl/d increase in Canadian oil sands sends condensate demand up, AECO gas prices down

Enverus

The report examines the effects on AECO hub gas pricing, the Canadian benchmark price for natural gas, from what is expected to be exceptional levels of condensate-directed Montney drilling in the coming years. This will result in substantial demand growth for in-basin condensate volumes because of increased need for diluent.

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Who Is The World's Top Oil Producer?

Rigzone

Top Crude Oil and Condensate Producer The EI’s latest statistical review of world energy showed that the U.S. was also the world’s top producer of crude oil and condensate. percent of the world’s total crude oil and condensate production last year, the report outlined. According to the report, the U.S.

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Exxon Bets Big on Natural Gas in Its Eighth Guyana Oil Project

OilPrice

ExxonMobils eighth oil project offshore Guyana will also be the biggest natural gas development of the Exxon-led consortium in the prolific Stabroek Block. Exxon and its partners in Guyanas oil projects, U.S. Hess Corp and CNOOC of China, expect to produce up to 1.5