National Oilwell Varco: Second Quarter Revenue at $5.6bn With Record Backlog
National Oilwell Varco, Inc. today reported that for its second quarter ended June 30, 2013 it earned net income of $531 million, or $1.24 per fully diluted share, compared to first quarter ended March 31, 2013 net income of $502 million, or $1.17 per fully diluted share. Excluding transaction charges …
Tatneft: Innovations Result in Cost Savings
4,135 professionals of the Company implemented 3,954 rationalization proposals and inventions in the first half of 2013 accounting for savings in the amount of 399.5 million rubles. 82 applications for alleged inventions and utility models were sent to the Federal Institute of Industrial Property and 94 documents of title were …
Rosneft: Financial and Production Figures Up Massively Due to Multiple Acquisitions
Hydrocarbon production (including production by fully and proportionally consolidated subsidiaries and share in production by affiliates) increased by 82.8% in H1 2013 and reached 4,804 th. boepd. H1 crude oil production reached 4,183 th. bpd, which represents a 73.5% increase Y-o-Y, while gas production more than doubled and reached 15.3 …
PJSC Geotech Seismic Services Will Place Two Issues Of 5 Year Bonds For Rur 6 Billion
IG Seismic Services PLC, the leading pure – play land and transition zone seismic company in Russia and the CIS and one of the largest land seismic companies globally, announces that PJSC Geotech Seismic Services (the largest company of GEOTECH Holding CJSC , the managing company for IGSS assets) adopted …
Polarcus Signs Multi-Client Collaboration Agreement with ION
Polarcus Limited is pleased to announce that the Company has entered into a three year agreement with ION Geophysical Corporation to jointly develop, execute, and market 3D marine multi-client projects to E&P companies worldwide. The agreement combines Polarcus’ proven expertise in the 3D multi-client space with that of ION’s GeoVentures …
Hardbanding Solutions: Launches New Site Inspection Service To Ensure Quality Hardbanding Applications
Hardbanding Solutions by Postle Industries is now offering site inspections to ensure that their certified hardband applicators are properly applying Duraband® NC and Tuffband® NC hardbanding alloys. Producers, drilling contractors and rental companies periodically experience marginally acceptable hardbanding applications. To be certain that their hardbanding products are being applied to …
Tethys Petroleum: Extends Kazak Drilling Program
Tethys Petroleum Limited, the oil and gas exploration and production company focused on Central Asia and the Caspian Region, today announced an update on its Kazakhstan drilling schedule previously announced as part of the Kazakhstan work programme through Q1, 2014. Extended and accelerated drilling programme: Two deep exploration wells now …
Shelton Petroleum AB: Spuds New Well in Russia
Shelton Petroleum has spudded a fourth well on the Rustamovskoye field in Russia by exercising the option included in the drilling contract of well RS#11. As previously announced, RS#11 shows good flows and is connected to the field’s infrastructure and the sale of oil from the well has commenced. Shelton …
Representatives of the Russian Energy Ministry Visited the Production Facilities of TATNEFT
A delegation of the Ministry of Energy of the Russian Federation, which included Kirill Molodtzov, Deputy Minister, and Mikhail Gryaznov, Director of Oil and Gas Processing Department of the Russia Energy Ministry, visited the production facilities of JSC TATNEFT. The delegation was accompanied by Shafagat Takhautdinov, Director General of JSC …
Vladimir Putin Signs Law to Reduce Mineral Extraction Tax for Unconventional Oil Production
Russian President Vladimir Putin on Tuesday signed a law to ease the tax burden on operators developing Russia’s unconventional oil resources. The law will differentiate the tax rates for hydrocarbon production based on the permeability of the rock, depletion of the reservoir and the size of the oil bearing layer. …