Thursday, April 18th, 2013
On April 16 Igor Sechin, Rosneft President, Chairman of the Management Board and Sergey Chemezov, Rostec State Corporation Director General held talks with the Iraqi Prime Minister Nouri al-Maliki as part of a working visit to Iraq.
During the talks Rosneft offered to conduct technical audit of facilities in operation and to provide support in exploration and development of oilfields.
«Iraq has high potential for oil production, which can only be unlocked in stable environment. We believe that large-scale bilateral projects are most beneficial to the development of the Iraqi economy», said Igor Sechin.
Sergey Chemezov also held talks with Nouri al-Maliki. The parties reached a number of agreements in the fields of energy, machine building as well as military and technical cooperation.
Monday, February 18th, 2013
Igor Sechin, Rosneft President and Chairman of the Management Board, held a working visit to the Republic of South Korea to hold talks with KOGAS and STX management on February 16.
The parties discussed prospects for expanding cooperation in hydrocarbon production as well as development of transportation technologies.
Tuesday, January 15th, 2013
On January 14 Igor Sechin, Rosneft President and Chairman of the Management Board, held talks with Zhou Jiping, CNPC President. The parties discussed a wide range of items concerning current cooperation between Rosneft and its Chinese partners in production and refining.
The talks took place in the framework of the agreements reached during the meeting between Igor Sechin and Chinese Vice Premier Wang Qishan, that was held in December 2012.
The next meeting between Igor Sechin with Zhou Jiping is planned for February-March 2013.
Monday, January 7th, 2013
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces that the ESKN-1 exploration well in the Eskene North prospect has reached a depth of 1,507 metres with electric logs indicating 20 metres of net pay over an 90 metre gross interval in the Triassic Formation at measured depths between 1,272 and 1,362 metres. Reservoir quality is fair with porosities ranging from 15% to 20%.
The Company is setting production casing in the well and expects to begin testing ESKN-1 in early 2013 to determine commerciality after obtaining the relevant government approvals. The Zhanros rig will now move to drill the Tolegen West prospect in Western Block E, targeting eight million barrels of mean resources.
Michael Young, President and Chief Financial Officer of Max Petroleum commented:
“The Eskene North discovery looks to have substantial oil in place though the porosity is of lower quality than we have seen in some of our other post-salt Triassic discoveries. We will announce the results of our production test as soon as possible and look forward to confirming our eighth commercial discovery.”
Wednesday, December 5th, 2012
Igor Sechin, President and Chairman of the Management Board at Rosneft, held talks on December 4 with Wang Qishan, Vice Premier of the People’s Republic of China and a member of the Politburo Standing Committee of the Communist Party of China.
The two discussed a broad range of issues relating to Rosneft’s cooperation with its Chinese partners, as well as attractive projects for the future.
Igor Sechin and Wang Qishan considered the terms of an intergovernmental agreement on the creation of favourable conditions for the construction and operation of a refining and petrochemicals facility as part of the Chinese-Russian Eastern Petrochemical Company (Tianjin) project.
The document will set down conditions for partnership in the construction and operation of the refining and petrochemicals facility so that the target internal rate of return can be achieved on this project. With this aim in mind, China is planning to provide a number of preferences on the government level, including the right to import crude independently, export products independently and sell petroleum products on the Chinese market, as well as other benefits.
Monday, December 3rd, 2012
A regular meeting of the Board of Directors of JSC TATNEFT, chaired by RN Minnikhanov, President of the Republic of Tatarstan, was held in Almetyevsk (Republic of Tatarstan) on November 30, 2012.
The meeting reviewed the budget execution of JSC TATNEFT during ten months of 2012, approved the budget for December and discussed the budget for 2013.
The information was presented to the Board of Directors on the key results of financial and economic activities of the Company. 19 million 456 thousand tons of crude oil were produced during nine months of this year, which is 0.3% more than the amount produced in the corresponding period of 2011 with the above-the-plan production in the amount of 444 thousand tons. The volume of associated petroleum gas amounted to 630 million cubic meters, which is 7.5% more than in the corresponding period of the last year.
The amount of 49.1 thousand tons of extra-viscous oil was produced at Ashalchinskoye field with an average daily production at the site amounting to 196.6 tons per day, while the cumulative production from this field since the beginning of development of the field amounted to 156 thousand tons.
The Company produced 226 thousand tons of crude oil outside the Republic of Tatarstan, which was 17.3% more than during the same period of 2011.
The gross proceeds from the sale of products shipped amounted to 412 billion rubles, while the net revenues (excluding VAT and export duties) increased by 13% compared to the same period of the previous year and amounted to 259.6 billion rubles. The financial and economic activities of the Company resulted in gaining 72 billion rubles of before tax profit with the net income amounting to 56 billion rubles.
The Board of Directors considered the innovation program in the subsurface management. The main directions for stabilization of crude oil production are large-scale implementation of innovative technologies and growth of the horizontal drilling volumes.
The Board of Director discussed the progress of the investment program implementation for crude oil production in the current year and the investment program for 2013.
The Board of Directors also considered a number of other issues of JSC TATNEFT activities.
Tuesday, November 13th, 2012
Rosneft today announced the creation of a strategic advisory group that will consolidate the financial assets of Rosneft and launch a full service financial institution.
The group composed of Rair Simonyan, Elena Titova and Walid Chammah will directly advise the President of Rosneft.
Igor Sechin, President and Chairman of the Management Board of Rosneft, said:
“At this stage Rosneft needs such financial institution that will increase our ability to attract the most qualified professionals, implement the best corporate governance practices, adapt the most advanced technologies and provide the most efficient and effective financial services possible. This Advisory Group will lead planning and execution to make that happen.”
Rair Simonyan said:
“It is a privilege to work with Rosneft on the creation of a new financial institution. This is a team with deep expertise, experience and an impeccable reputation in the global financial services, and includes my long-standing partners Elena Titova, former President of Morgan Stanley Bank, Russia, and Walid Chammah, former global Co-President of Morgan Stanley and Chairman of Morgan Stanley International.”
- Rosneft issued a company order to establish the Advisory Group to the President on November 12, 2012. The group is composed of former Morgan Stanley executives Rair Simonyan, Elena Titova, and Walid Chammah.
- The Advisory Group was requested to establish a full-service financial institution – Rosneft Bank – on the basis of Rosneft-owned financial assets, including the Russian Regional Development Bank. The new bank will be designed to secure effectiveness, degree of control and complete transparency of the financial provision of Rosneft’s strategic areas of growth.
- Rosneft Bank will assist in implementing large-scale international projects, streamline Rosneft Oil Company’s system of crude oil and petroleum products trading and provide a full range of high-quality financial services to individual and corporate clients in the oil, gas and energy sectors.
- Rosneft will nominate Elena Titova for the position of President of the Russian Regional Development Bank and appoint Rair Simonyan, Elena Titova and Walid Chammah to the new Supervisory Board of the Bank.
Wednesday, November 7th, 2012
Support staff and facilities are expanding to help customers meet the challenges of today’s process operations – wherever they are
Emerson Process Management has embarked on a programme to strengthen its support service capabilities for customers around the world. In 2012, Emerson extended its current footprint of 374 global service locations by opening eight full-service facilities, staffed by trained, certified personnel. In the next few years, the company expects to increase the number of service facilities by nine per year, while expanding its support staff at a pace roughly double the underlying automation market growth rate.
“Our service expansion plans are driven by two challenges our customers face today,” said Emerson Process Management’s Terry Buzbee, President, Final Control. “Developed countries are losing experienced personnel due to demographic shifts, and process facilities are being commissioned in emerging markets where enough skilled workers are hard to find. As a result, process manufacturers are turning to us more and more for services to keep their assets performing at peak efficiency. Our commitment is to meet these needs with local service centre facilities and skilled service teams.”
As the worldwide drive for resources and goods grows beyond traditional markets, Emerson is expanding to provide prompt local service to process operations wherever they are. To date this has included commissioning service facilities in Brazil, Qatar, India, Spain, Italy, China and Turkey. Within a year, the company plans to open nine additional service centres – including two in Asia, two in the Middle East and Africa, one in Latin America and three in Europe. Emerson is also adding new capabilities and support services to meet customer needs that a few years ago didn’t exist or were met by in-house resources.
With the shrinking of plant maintenance budgets and the availability of technology to predict automation asset performance, Emerson has developed a family of reliability services including asset prioritisation, on-site or remote asset management, and turnaround planning and management.
More customers are running to failure and also running with less maintenance staff and spares inventory. Emerson is filling that gap with Certified Repair and Quick Ship product manufacturing and service centres. These service centres provide machining, manufacturing, fabrication, actuation, instrumentation and quality assurance, and are designed to operate at faster than factory lead-times to the following KPI Responsiveness Standards:
- Service centre location less than two hours from customer plant
- 24 hour replacement parts delivery
- 24/7 repair availability (on-site and depot) to customer timeline requests
- New product delivery in five days (10 days for systems)
“Our capability to quickly ship new and repaired products to customers when they need them is critical to getting their plants up and running,” said Buzbee. “We want to be the partner our customers know they can trust to not only get them back on-line, but also keep them running reliably.”
By further augmenting customers’ existing operating staff with Emerson service specialists to help plan the adoption of new technology and maintenance best practices, plant uptime can be increased more quickly and reliably. Customers can also take advantage of Emerson’s extensive online training capabilities to re-skill workers without travel costs or time away from their facility.
“Our mission is to develop and expand all of these local service and execution capabilities in every major industrial cluster within each world area,” said Buzbee.
Wednesday, October 31st, 2012
Rosneft and General Electric (GE) have signed a contract to service five 6FA packaged gas turbine units. These units are to be supplied by GE under an agreement signed in June for the thermal power plant at the Eastern Petrochemical Company, which is currently under construction by Rosneft. Igor Sechin, President and Chairman of the Management Board at Rosneft, and Jeff Immelt, Chairman and CEO of GE, signed the service contract.
The agreement will run for 16 years and is GE’s largest service contract in Russia. The company will provide technical support and full-cycle routine technical maintenance of the turbines, their components and generators. GE will also be responsible for maintaining the availability factor of the turbines, as well as power output and the heat rate.
The low-emission and highly fuel efficient 6FA package gas turbine units at the Eastern Petrochemical Company’s power plant will operate in line with international environmental standards.
The service contract, alongside the agreement for GE to supply packaged gas turbine units for the power plant at the Eastern Petrochemical Company, represents the practical implementation of the Memorandum of Understanding signed in June this year between Rosneft and General Electric that envisioned the implementation of joint projects intended to address issues in joint design, development, manufacturing and sales of equipment for the oil and gas industry.
Tuesday, October 9th, 2012
Schlumberger today introduced the Saturn* 3D radial probe as the newest module for the MDT* modular formation dynamics tester. With the Saturn probe, customers can now obtain pressure measurements and fluid samples where they were not previously possible due to reservoir conditions.
“Customers expect Schlumberger to be able to fully characterize reservoir fluids in today’s complex reservoir environments,” said Catherine MacGregor, president, Schlumberger Wireline. “Whether the reservoir is unconsolidated, has low permeability or contains heavy oil, we can now perform pressure measurements and downhole fluid analysis and bring high-quality samples to surface.”
The Saturn probe is comprised of four elliptical suction probes mounted at 90 degree intervals circumferentially around the tool, providing the largest surface flow area of any probe in the industry—more than 500 times that of a standard probe.
Analyzing reservoirs from more than 85 tool settings, the Saturn probe has been run in South America, Africa and the Middle East in environments ranging from onshore to deepwater. In Mexico, the Saturn probe successfully sampled fluids as low as 7 API gravity from unconsolidated formations with unconfined compressive strength as low as 300 psi, which would have been difficult using conventional probes. In the Middle East, the Saturn probe sampled fluid in formations with mobility less than 2 mD/cP, enabling the customer to accurately identify the location of the hydrocarbon-water contact point.