Max Petroleum: SAGW – 11 Non Commercial
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, today announces that it has completed drilling the SAGW – 11 appraisal well in the Sagiz West Field to a vertical depth of 1,429 metres without encountering sufficient hydrocarbons to be commercial and it will be …
National Oilwell Varco Announces Certain Management Changes Related to Its Distribution Spinoff
National Oilwell Varco, Inc. announced the name of an additional member of the Executive Management team for its previously announced plan to spin off to its shareholders its Distribution Business as an independent publicly traded company. On the effective date of the spinoff, Mr. Raymond Chang will become the Vice …
Shelton Petroleum AB: Shelton Petroleum Expands its Oil Facilities in Bashkiria
Shelton Petroleum invests SEK 20 million in scalable oil facilities on the Rustamovskoye field in Russia in order to improve efficiency in the handling of current and expected future oil production. The infrastructure investments will enable a more efficient handling of produced oil from wellhead to point of sale. The …
Condor Receives Final Approval for the Sale of Marsel
Condor Petroleum Inc. is pleased to announce the receipt of Kazakhstan Antimonopoly Agency approval for the sale of Condor’s 66% interest in the Marsel Territory for US$88 million (the “Marsel Transaction”). All conditions for completion have now been satisfied and the Marsel Transaction is expected to close by the end …
Schlumberger Declares 28% Increase in Quarterly Dividend
The Board of Directors of Schlumberger Limited today approved a 28% increase of the quarterly dividend. The increased dividend of $0.40 per share of outstanding common stock is payable on April 11, 2014 to stockholders of record at the close of business on February 19, 2014.
Tethys Petroleum: Strikes New Prospect with Total Unrisked Mean Recoverable Oil Resources Being Independently Estimated at Over 400 million barrels
Tethys Petroleum is pleased to announce it has received an updated Oil Resource Report for a new prospect in Kazakhstan with total Unrisked Mean Recoverable Oil Resources being estimated independently at over 400 million barrels. The report was commissioned on the “Klymene” prospect which is located in the Kul-Bas Exploration …
Slavneft: Produced 16.8 million tons of Oil in 2013
In 2013, OAO NGK Slavneft‘s subsidiaries produced 16.8 mln tons of oil, which is 94.1% vs. 2012 level. Gas production volume at the Company’s oilfields reached 817.3 mln cu. meters, which is 2.8% lower than the previous year’s level. During 2013, 187 new wells were commissioned at Slavneft’s license areas. …
NOVATEK Closes Sale of 20% Interest in Yamal LNG to CNPC
OAO NOVATEK announced today the closing of the sale of a 20% participation interest in Yamal LNG Project (“Project”) to CNODC, a subsidiary of China National Petroleum Corporation (“CNPC”), upon the receipt of all necessary regulatory approvals from Russian, European and Chinese authorities. Following the completion of the deal, the …
NOVATEK Increased Its Stake in SeverEnergia to 59.8%
OAO NOVATEK announced today the completion of a deal by Yamal development (a 50/50 Joint Venture between OAO NOVATEK and OAO GazpromNeft) to acquire a 60% equity stake in Arctic Russia B.V. from the Italian energy company, ENI. Arctic Russia B.V. owns a 49% equity stake in the SeverEnergia Joint Venture. In …
NOVATEK Completes the Expansion of the Purovsky plant
OAO NOVATEK announced today that last two (out of four) new gas condensate stabilization trains with three (3) million tons per annum overall capacity were launched at the Purovsky plant resulting in completion of a project for expanding capacity of the plant from five (5) to 11 million tons. First …