Poland's second-biggest oil refiner Lotos has launched test production at its oil field at the Baltic Sea, the group's key upstream project, the company said on Oct. 6.
The B8 field is estimated to have about 3.5 million tonnes of oil where Lotos has said it plans to produce ultimately some 250,000 tonnes.
Lotos Chief Executive Pawel Olechnowicz said last month that commercial output at the B8 field would be launched in 2016.
After commercial output begins, the company has said B8 would produce up to 5,000 oil barrels per day to be the third biggest production field in Poland. Lotos is now producing 24,000 barrels a day.
Daniel Rice, former CEO of Rice Energy who now sits on the EQT board, addressed the elephant in the room earlier this month at Hart Energy’s Energy Capital Conference.
Today’s featured Forty Under 40 honoree is Nick Vandivere, CEO of ThoughtTrace which is a Houston-based software company using AI and machine learning to streamline operations for the energy industry.
Chaparral Energy said Dec. 23 its board of directors has appointed Charles “Chuck” Duginski as president and CEO, effective Dec. 20.