Russian licensing authority Rosnedra issued a production license for Morskaya Field in the Lagansky Block in the Russian part of the Caspian Sea, Sweden’s Lundin Petroleum AB said May 18.
The production license is valid until 2035 and covers about 50 sq km. Morskaya Field might hold 157Mboe in gross contingent resources.
LLC Petroresurs owns the field. Lundin Petroleum holds a 70% shareholding in LLC Petroresurs. Gunvor Group holds the remaining 30%.
Stockholm’s Lundin Petroleum has 187.5MMboe of proven and probable reserves.
Recommended Reading
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.
Shell Launches $3.5 Billion Share Buyback Program
2024-05-02 - Shell, which posted first-quarter adjusted earnings of $7.7 billion, will cancel all of the shares it buys.
Supply Disruptions Ahead as Canadian Rail Workers Vote for Strike
2024-05-01 - The union, representing more than 9,000 employees at Canadian National Railway and Canadian Pacific Kansas City, announced that 95% of its members approved of a strike, which could happen as early as May 22.