Tag Archives: Drilling

OPEC'.s second largest producer. after Saudi Arabia. Iraq seeks to boost its production capacity to 5 million barrels per day by the end of the year.

Deeper cuts could help prices. but the question remains: how many of the parties to the deal could afford deeper production cuts?

That marked only the second time the weekly oil-rig count fell this year. Oil-rig numbers had climbed for 23 weeks in a row.

The US has looked at boosting its LNG exports for years. since drilling advances vastly expanded its domestic supplies.

LNG imports could also ease trade tensions between South Korea and President Donald Trump. The U.S. ran a $17 billion trade deficit in goods and services with South Korea in 2016.

In terms of daily production. the fields will yield 50. 000 barrels of crude oil per day and 120 million standard cubic feet of gas per day by early 2019.

SOCAR is the sole producer of oil products in Azerbaijan.

Analysts say oil production in the region - apart from Prirazlomnoye - is years away and may start only in the mid-2020s.

Of the three major stages of the upstream business. exploration is the least vulnerable to cyber attacks.

The wells included 14 delineation wells one exploratory and 27 repairing ones.