Kharyaga PSA in Russia extended 13 years

Russia has extended the production-sharing agreement covering Kharyaga oil field in the Netets Autonomous District by 13 years. The PSA, of which Zarubezhneft is operator with a 40% interest, now runs through 2031. Source: News

Kuwait lets contract for Al-Zour refinery

Kuwait Petroleum Corp. subsidiary Kuwait Integrated Petroleum Industries Co. (KIPIC) has let a contract to SNC-Lavalin Group Inc., Montreal, to provide a suite of services related to startup of the grassroots 615,000-b/d Al-Zour integrated refining complex under construction in southern Kuwait. Source: News

Flow starts from new Yury Korchagin platform

Lukoil reports flow of 500 tonnes/day of crude oil from the first well drilled from the wellhead platform installed during second-phase development of Yury Korchagin oil field in the Caspian Sea off Russia. Source: News

Jericho Oklahoma STACK JV to drill second Osage formation well

Jericho Oil Corp., Vancouver, BC, along with its Oklahoma STACK joint venture partner, will further delineate and develop the STACK JV’s nearly 16,000 net acre position in the northern STACK following a successful test well of the Osage formation. Source: News

Frac of onshore UK horizontal well approved

Cuadrilla has received approval from the UK Department for Business, Energy & Industrial Strategy to hydraulically fracture the first of two horizontal wells it has drilled at Preston New Road in Lancashire. Source: News

EIA: US crude inventories decrease 6.1 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 6.1 million bbl for the week ended July 20, according to data from the US Energy Information Administration. At 404.9 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the Weekly Petroleum Status Report indicated. […]