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Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crudeoil per day (bbl/d).
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oilfields managed by a group led by TotalEnergies, according to a special adviser in the presidency. But the explorers have also hit dry wells, prompting them to write off drilling costs as they learned more about the fields.
(World Oil) –MOL has discovered a new oilfield near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary.
The Iraqi Council of Ministers has approved a modification to the contract area of the East Baghdad OilField - Southern Region , adding 95 km west of the Diyala River. According to the Media Office of the Prime Minister , this expansion aims to exploit an estimated 710 million barrels of crudeoil within the newly incorporated area.
Once the prospective area is fully interpreted, a resource assessment will be conducted to support the addition of new well locations to the field development plan (FDP). Initial assessments indicate the seismic amplitude features, indicative of gas-charged reservoirs, are present over 25% of the KCA in the south.
percent decline in crudeoil production. Total crudeoil produced amounted to a total of 35.42 This decrease is linked to the natural decline in the Tweneboa, Enyenra, and Ntomme (TEN) field, leading to an escalation in the gas-to-oil ratio and water production in the Jubilee and Sankofa fields.
Khalda Petroleum Company Chairman Saeed Abdel Moneim reviewed the most important performance indicators and targets for the next fiscal year (FY), indicating that it is planned to invest approximately $1 billion during FY 2024/25. As for the second half of the current fiscal year, it is planned to drill 29 crudeoil and natural gas wells.
His earlier experience includes field operations, engineering, and human resources across North America, South Asia, and the Middle East. NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Gatti served on the Board of Helix Energy Solutions Group, Inc.
In collaboration with the NOC, TotalEnergies has achieved a 20% increase in production at the Waha field; Repsol plans to drill nine new prospects in 2025; while Eni is planning four exploration wells in 2025. UNOC is also advancing exploration in the Moroto-Kyoga basins, with preliminary studies aimed at uncovering new oilfields.
Minister of Petroleum and Mineral Resources Karim Badawi attended the General Assembly meeting of the Middle East Oil Tankage & Pipelines (MIDTAP) company to discuss its 2024 performance. The total volume of petroleum products traded on the company’s marine dock reached 4.7 million tons in 2024, compared to 1.6
(BOE Report) –NEW YORK (Reuters Breakingviews) Oilfields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the petroleum age, crashing oil prices. A mere two years later, over-extraction drove the field into decline. Twenty years ago, the U.S.
Kazakhstan agreed at the May 3 meeting of the Organization of the Petroleum Exporting Countries and its allies to produce 1.5 billion expansion of the Chevron-led Tengiz oilfield is due to become fully operational this quarter. million bpd in June, compared with 1.85 million bpd in March.
Central Asias largest oil producer will pump a daily average of 277,000 metric tons of crude and condensate in May, the same level as in April, and compared with 260,000 metric tons in March, the Astana-based Energy Ministry said by email. Italys Eni SpA has made similar comments about the giant Kashagan oilfield.
The CEO of the Petroleum Engineering and Development Company (PEDEC) Nasrollah Zarei announced that the launch of the first phase of the crudeoil processing unit at the South Azadegan joint field will be soon to start production, according to Shana.
Minister of Petroleum and Mineral Resources Karim Badawi met with Mohamed Farouk, CEO of ADES, and his accompanying delegation, to review the companys operations and discuss means of boosting production. Additionally, the companys future plans to enhance crudeoil production rates through the use of advanced technologies were also discussed.
Midland Oil Company (MdOC) has successfully restarted a previously idle vertical oil well in the Ahdab field , using horizontal drilling technology. The operation was carried out in cooperation with Chinese partner Al-Waha Company.
Minister of Petroleum and Mineral Resources Karim Badawi held meetings with Clay Neff, President of Chevron International Exploration and Production, and Dong Sub Kim, President & CEO of Korea National Oil Corporation (KNOC), focusing on investments and capacity building.
This came during the general assembly meeting of the Middle East Oil Refinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024.
Our regional geological models indicate that the promising Fold Belt play, known for hosting some of the worlds largest fields and covering extensive areas, likely extends into Angola. The Company will be drilling its next well, Prospect I which is located onshore Namibia in Petroleum Exploration Licence 073 (PEL 73).
A quantitative reconciliation of Oil and natural gas sales, net of blending to the most directly comparable GAAP financial measure, Oil and natural gas sales, is contained under the heading 2024 Segment Information of this press release. The following table reconciles Field Operating Income to the nearest GAAP measure.
By Kerry Murphy On Wednesday September 2, BP drilled the world’s deepest oil well – the Tiber Prospect Well – and discovered a huge pool of crudeoil. The Tiber well is located in the western Gulf of Mexico, southwest of New Orleans in U.S. The Tiber well is below 4,000 feet of water and more than 30,000 feet into the earth.
mmbpd, including water injection operations to support the reservoir and crudeoil production continued for the Dammam development project, and procurement and construction activities advanced for the Marjan and Berri and Zuluf crudeoil increments. The company progressed increment projects to maintain MSC at 12.0
Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders.
Gulf Keystone Petroleum (GKP) has published details of its payments to governments for the year 2024: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ('Gulf Keystone') for the year ended 31 December 2024 as required under Disclosure and Transparency Rule 4.3A
Mineral interests offer the highest form of security and upside in the oilfield, and any and all benefits an operator manages to unlock accrues directly to the mineral holder without any capital risk, forever. an independent petroleum engineering firm, and comply with definitions promulgated by the SEC.
Oil and Gas Basins: Growth, Challenges, and 2025 Outlook Permian Basin (Texas & New Mexico) The Undisputed Leader 2023-2024 Overview The Permian Basin has remained the most important oil-producing region in the United States, supplying nearly 46% of the nations crudeoil output in 2024. crudeoil investments.
The country’s first field began producing in 1958 at a rate of 5,100 BPD. Production grew fast, and today, Nigeria pumps close to 2 million BPD, which makes it the largest producer of crudeoil in Africa. Nigeria joined OPEC in 1971 before it even had its own state oil company. Exxon comes next: the U.S.
A tug owned by Marquette collided with an oil-carrying barge owned by Settoon as the Marquette tug attempted to overtake the Settoon flotilla. As a result of the collision, approximately 750 barrels of light crudeoil discharged into the river. Following the spill, the U.S.
Working on an offshore oil rig or platform is a unique experience Note: In this article, we’ll use the word ‘rig’ and ‘platform’ almost interchangeably, but a rig does the drilling, and a platform does the pumping. Offshore oilfields represent a substantial portion of the worlds total crudeoil output.
The Objective of Market Management: Historical Evidence It was the discovery of a process to extract Kerosene from crudeoil that made oil commercially valuable in 1859. It replaced whale oil that was widely used for illumination; an action that almost led to whale extinction.
Canadas oil producers are better equipped to withstand the current price drop than during previous downturns after years of working to reduce debt loads and lower production costs. Even oilfield service providers, typically among the first firms to get hit when crude prices decline, are better prepared than previously, Tertzakian said.
The National Iranian Oil Refining and Distribution Company said refining facilities and oil storage did not sustain any damage in the attacks. Iran, the third largest producer in the Organization of the Petroleum Exporting Countries, extracts about 3.3 million barrels of oil per day (bpd), or around 3% of global output.
Crude prices hit a three-year low below $70 a barrel this week after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to go ahead with a planned April output increase. Even before that, lower oil prices in 2024 and rising costs for equipment and services had squeezed energy companies. .
Background The Keystone Pipeline is a system of petroleum pipelines designed to transport crudeoil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S Constitution. Gulf Coast.
The Keystone Pipeline is a system of petroleum pipelines designed to transport crudeoil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S Constitution. Background. Gulf Coast.
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