Exxon is diverting about one-third of its drilling budget this year to shale fields that will deliver cash flow in as little as three years, said the new Chairman and Chief Executive Officer Darren Woods.
Next year, U.S. shale will absorb 50 percent of Exxon’s worldwide drilling budget. Output from shale wells will grow an average of 20 percent annually as Woods intensifies the company’s focus on the Americas. The world’s biggest oil explorer by market value will spend more than $5.5 billion this year to drill wells in the U.S. Permian and Bakken shale regions, among other so-called short-cycle assets. The company’s production has fallen in four of the past five years and averaged 4.05 million barrels a day in 2016.
According to the agreement with Administration of Eiz Eldeen Saleem Sub-District LUKOIL implemented the first social project for this year, which was the Food Boxes Project.read more
The team of young employees of LUKOIL Uzbekistan Operating Company under the name of “Gorod Khlebniy” (“The City of Grain”) successfully performed at the “KVN Cup” humor contest held among the oil and gas producing entities of LUKOIL Group and bore away the highest award.read more