Max Petroleum: Total 2P Reserves up 40%
Max Petroleum Plc, an oil and gas company focused on Kazakhstan, announces the estimated reserves for the Sagiz West Field as of 31 December 2013 by its Competent Person, Ryder Scott Company LLC, updating the Sagiz West reserve estimate produced by RSC as of 30 September 2013. The updated CPR …
Novatek: Reserve Replacement Rate Running at 132%
OAO NOVATEK today announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2013. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, increased by 1.2% as compared to year-end 2012 and aggregated 12,537 …
Gazprom Neft and Schlumberger Expand Technical Cooperation for Development of Shale Oil Reserves
Gazprom Neft and Schlumberger have signed a supplement to their Framework Agreement on Technology Cooperation*, which was made in 2011. The companies expand cooperation to achieve greater efficiency in development of hard-to-extract shale oil reserves, mainly from Bazhenov deposits in Western Siberia. In the near future, the companies will cooperate …
Tatneft: Figures Demonstrating Results of Operations in January 2014
Crude Oil Production The amount of 2,221,896 tons of crude oil or 100.6 percent versus January 2013 was produced at JSC TATNEFT. All the NGDUs fulfilled the plan 100 per cent. The amount of 2,196,785 tons of oil was delivered with the above-the-plan delivery amounting to 19,955 tons. New Drilling …
Surgutneftegas Reports Operating Results For The First Month Of 2014
In January 2014, Surgutneftegas produced 5.202 million tonnes of crude oil. Within the first month of the current year, crude output in the Republic of Sakha (Yakutia) reached 618.5 thousand tonnes, a 3% increase from the same period last year. In January 2014, overall gas production amounted to 800.6 million …
Gazprom and LUKOIL Joining Efforts to Prevent Marine Accidents
Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Ravil Maganov, First Executive Vice President of LUKOIL signed a Cooperation Agreement on prevention of and response to emergencies caused by oil and petroleum product spills in the locations of the companies’ offshore facilities. The companies agreed that in case of emergencies related to oil and/or petroleum product spills, they would provide …
LukOil: Reserve Replacement Exceeds 100% in 2013
OAO LUKOIL finished an evaluation and independent audit of its oil and gas reserves, as they stand on December 31, 2013. The evaluation was performed in accordance with the US Securities and Exchange Commission (SEC) standards until the economic limit of commercial production is reached. The audit results by Miller …
Tatneft: Improves Mean Time Between Failures
TATNEFT maintains one of the highest factors of mean time between failures wells operation among the large enterprises in the Russian oil industry. The total mean time between failures of the wells operation (MTBF) at JSC TATNEFT) amounted to 1,198 days in 2013. The high level of the wells mean …
CGG’s New Hampson-Russell Software Release, HRS-9/R2, Targets Unconventional Resources
CGG has released HRS-9/R2, an upgrade to its intuitive and interactive Hampson-Russell HRS-9 reservoir characterization software suite. It builds on HRS-9, launched in 2012, by offering geoscientists new capabilities focusing on unconventional resources. Azimuthal AVO for fracture identification A completely new module named ProAZ will increase the effectiveness of well …
Endeeper Solution for Petrographic Knowledge Management Adopted by Weatherford Laboratories
Weatherford Laboratories in Brazil adopted the Endeeper’s solution for petrographic knowledge management. The solution is composed by Petroledge and RockViewer software and training session to enable the company’s geologists in the use of Endeeper’s software. Weatherford geologists will perform data management of sedimentary petrography directly in Petroledge and RockViewer. The …