Tag Archives: Drilling

. Iran is now producing 3.9 million bpd of crude oil and gas condensates.

A major new oil gas discovery. similar to the giant South Pars Gas Field. is unlikely to take place.

NIDC has 75 drilling rigs. 68 of which are being used in the joint oilfields. namely South Azadegan.

The discovery of a huge natural gas deposit in Egyptian waters has boosted hopes of other such finds in the eastern Mediterranean.

The field holds 2.5 billion barrels of crude oil and is expected to produce up to 65.000 bpd.

Iran is firm in its self-proclaimed mission to reach pre-sanction levels of oil output and exports.

Despite the supply adjustment. stocks have continued to rise. not just in the US. but also in Europe.

The market is bearish because sentiment has turned

US crude is on track for a drop of more than 7% this week. its biggest weekly fall for five months.

Shell is the largest deepwater producer among the world'.s top publicly traded oil companies.