LUKOIL: Starts Rakushechnoye Facility Construction
As part of his working visit to Astrakhan, President of LUKOIL Vagit Alekperov, jointly with Head of the Astrakhan Region Sergey Morozov, took part in the official groundbreaking ceremony to mark the start of construction of infrastructure facilities of Rakushechnoye field. This is the Company’s third large project in the Caspian Sea …
Kazakhstan: 9M Production Up 6.6% yoy
Oil production in Kazakhstan in January-September amounted to 57.629 million tons, which is 6.6% more than in the same period of 2017. This was reported in the statistics committee of the National Economy Ministry. In the reporting period, gas condensate was produced in the amount of 9.719 million tons (a …
Russian Oil Production: October Hit 11.4 million barrels per day
Oil production in the Russian Federation in October reached 1.554 million tons per day, or 11.4 million barrels per day. This was reported in industry statistics. This is about 453 thousand barrels per day more than Russia’s obligations under the transaction to limit OPEC and non-OPEC countries. In addition, this …
PGS: Waste Plastic Collection Concept – Encouraging Feasibility Study
The PGS plastic collection concept may be valuable in certain areas and during seasons or events when plastic densities are high. Next step is to seek funding for a full-scale pilot test. In 2017[1], PGS launched a concept for collecting plastics at sea that uses the inherent capabilities of seismic …
Urals Energy: Unapproved Loan Update – Board Requests Loan Repayment
Further to the announcement made on 10 October 2018, Urals Energy, the independent exploration and production company with operations in Russia, provides the following update on the actions that were previously carried out by Mr S Kononov, without the knowledge or approval of the Board. Mr Kononov is the president …
Gazprom and Shell Discuss Next Steps in Baltic LNG Project
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg today. The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED). Alexey Miller and …
OPEC Daily Basket Price: Friday, 12 October 2018, Stood at $79.36 a Barrel
Vienna, Austria, 15 October 2018–The price of OPEC basket of fifteen crudes stood at $79.36 a barrel on Friday, compared with $80.14 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), …
LUKOIL Commissioned the Fifth Well at the Second Development Stage of the Vladimir Filanovsky Field in the Caspian Sea
LUKOIL commissioned the fifth well at the second development stage of the Vladimir Filanovsky field in the Caspian Sea. The length of the main wellbore of the new bilateral production well is 2,956 meters, while the lateral‘s is 1,735 meters. The well’s initial flow rate exceeded 3,300 tonnes of oil per …
New 5 Billion-Dollar Oil and Gas Project to Start off at Tengiz
Chairman of the Presidium of Kazakhstan’s Union of oilfield related companies Rashid Zhaksylykov told about the new projects in the oil and gas sector in Kazakhstan, BNews.kz correspondent reports. The oil and gas sector is active in the country. Positive trends in oil prices have revived the sector: a start …
NOVATEK Discovers North-Obskoye Field
PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that its wholly owned subsidiary OOO Arctic LNG 3 has completed the testing of the first exploration well at the North-Obskiy license area located in the shallow waters of the Ob Bay. The drilling and testing results confirmed that a new natural gas and …