Tatneft Figures Demonstrating Results of Operations in April the start of the Year
Oil Production OAO TATNEFT produced 2,130,890 tons of crude oil in April while the produced volume amounted to 8,524,881 tons of crude oil from the beginning of the year accounting for 25,496 tons increase versus 2010 (100.3%). The above-the-plan production amounted to 173,266 tons (102.1%). The volume of oil delivered …
Kazakhstan Operations Update May 2011
Tethys Petroleum Limited today provided an update on the progress in its Kazakhstan oil appraisal and exploration activities. The AKD04 (Dero) appraisal well has now reached total depth of 2,566 metres and electric logging has been carried out. This well is located on the separate Dero part of the structure …
Arbitral Panel Permits Conditional Completion of BP-Rosneft Share Swap-Subject to Rosnefts Consent and Assignment of Arctic Opportunity to TNK-BP
The arbitral panel has today issued a consent order permitting BP and the Alfa-Access-Renova (AAR) consortium to assign the Arctic opportunity to TNK-BP, subject to Rosneft consent. The order also permits the proposed share swap between BP and Rosneft to proceed subject to Rosneft having consented to assign the Arctic …
KMG EP Board of Directors meeting
KMG EP held a regular meeting of the Board of Directors. At the meeting, Alik Aidarbayev, Managing Director for Exploration and Production at JSC National Company KazMunayGas (“NC KMG”), was elected Chairman of the Board of Directors of KMG EP. At the meeting, the Board of Directors decided to expand …
BP Welcomes Rosneft as New Partner in German Refining Joint Venture
BP today welcomed Rosneft as its new partner in its German refining joint venture, Ruhr Oel GmbH (ROG). This follows the completion of the deal announced last October in which BP’s existing partner, PdVSA of Venezuela, agreed to sell its 50 per cent interest in the joint venture to Rosneft. …
Baker Hughes Adds Hydrocarbon Prediction Software to its Consulting Services
FaultRisk software reduces uncertainty, risk of hydrocarbon predictions Baker Hughes announced today that it will integrate FaultSeal’s FaultRisk™ software into its portfolio of reservoir consulting services. The Baker Hughes reservoir consulting group has worked with FaultRisk software developer FaultSeal for two years. In producing regions where its use has been …
Baker Hughes Introduces Next-Generation Reservoir Modeling Software
JewelSuite 2011 program enhances collaboration, workflows and processing Baker Hughes has introduced the next generation of its JewelSuite™ reservoir modeling software. JewelSuite 2011 is an integrated reservoir modeling tool that uses patented 3D gridding technology to build accurate reservoir models for fields with complex geology. The JewelSuite platform also provides …
The equipment and technology of vibration impact on the stuck equipment are successfully used by TATNEFT Company for liquidation of downhole complications.
Application of this method is one of the effective tools to eliminate sticking and failures of the equipment in the wells, including the small diameter wells, as their design features do not allow using downhole jacks and other equipment of required capacity. In the course of drilling, operation and wells …
Eurasia Drilling Company Limited and Schlumberger Announce Completion of Transactions and Strategic Alliance
Eurasia Drilling Company Limited and Schlumberger announced today the completion of the sale and purchase of each other’s drilling and service assets together with the formation of a Strategic Alliance in line with the Letter of Intent announced on 4th October 2010. The key elements of the transactions completed on …
Integra improves the terms of its credit facility with VTB Bank (Deutschland) AG
Integra Group, a leading independent provider of diversified oilfield services, and VTB Bank (Deutschland) AG increased their existing term loan facility with permitted reborrowings from US$50 million to US$100 million and extended the tenor by 5 years. Furthermore, the company benefits from improved pricing terms. These amendments to our multi-purpose …