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KazMunayGas and Linde sign MOU for blue/green hydrogen and ammonia projects in Kazakhstan

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KazMunayGas, the state-owned oil and gas company of Kazakhstan, and the technology company Linde have signed a Memorandum of Understanding to cooperate and develop jointly clean energy projects in Kazakhstan. Most of Kazakhstan’s natural gas reserves are in crude oil or condensate—rich fields.

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GECF: more than a quarter of 2050 natural gas supply untapped

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference.

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GE, Rosneft to pursue opportunities in Russia’s oil and gas industry, including Arctic offshore

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GE and OJSC Rosneft signed a memorandum of understanding (MOU) that lays the foundation for the two companies jointly to evaluate and develop commercial opportunities in oil and gas exploration and production in the Russian Federation.

Oil 231
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ExxonMobil plans five-year investment of $185B to develop new energy supplies; 21 major oil and gas projects to begin production between 2012 and 2014

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Demand for electricity will make natural gas the fastest growing major energy source and oil and natural gas are expected to meet 60% of energy needs over the next three decades. A total of 21 major oil and gas projects will begin production between 2012 and 2014. billion oil equivalent barrels.

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Repsol and Alliance Oil to form an exploration and production JV in Russia

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Repsol and Alliance Oil Company have signed a Memorandum of Understanding to form a joint exploration and production (E&P) venture that will serve as a growth platform for both companies in the Russian Federation, the world’s largest oil and gas producer. Repsol also owns a 74.9%

Russia 210
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Eni reports first oil from giant Kashagan field in North Caspian Sea

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The oilfield is located in the North Caspian Sea, approximately 80 kilometers (50 miles) southeast of Atyrau, in Kazakhstan. Eni holds a 16.81% stake in the consortium for the development of Kashagan and through Agip KCO is responsible for developing and start of production of the field. Map of the field. Click to enlarge.

Oil 218
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Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

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We believe these investments will yield significant production growth and reward our shareholders for years to come. By 2017, we expect our net crude oil and natural gas production to grow about 20 percent to 3.3 billion is planned for exploration and production activities, including major natural gas-related projects.

Chevron 170