KMG Parker Drilling: JV Formed for Karachaganak Drilling and Well Operations
As known, over many years one of the world giants in the field of oil related services – Parker Drilling provides drilling services for Karachaganak Petroleum Operating (KPO), developing one of the largest fields of raw hydrocarbons in Kazakhstan. In 2017 KPO announced tender for supply of drilling rigs for …
LUKOIL Reports 1Q 2018 Preliminary Operating Data
The LUKOIL Group’s average daily hydrocarbon production excluding West Qurna-2 project in the first quarter of 2018 was 2,286 thousand boe per day, which was 3.3% higher year-on-year and flat quarter-on-quarter. The growth was driven by the development of gas projects. Hydrocarbon production, thousand boe per day 1Q 2018 4Q …
LUKOIL: Completes Denisov Depression Models
LUKOIL has built an integrated geological and geophysical model of fields and exploration structures of the Denisov depression in Timan-Pechora oil and gas province. The modelling, completed with 3D seismic surveys, provides greater accuracy of structure mapping and significantly contributes to the quality of pre-drilling at prospective features. Four oil …
Zoltav Resources: Strengthens Technical Team with the Additions of Yuri Krasnevsky, Andrei Zabolotnov and Vasily Fomichev
Zoltav , the Russia-focused oil and gas exploration and production company, is pleased to announce the strengthening of its technical team with the appointments of former Bashneft and TNK-BP technical executives, Yuri Krasnevsky, as Director for Geology and Field Development, Andrei Zabolotnov, as Deputy Director for Field Development, and Vasily …
Kazakhstan’s Oil Exports Hit 24 Million Tons
The volume of export of Kazakh oil since the beginning of the year amounted to 24.1 million tons. This was announced by Energy Minister Kanat Bozumbayev at a government meeting on May 15. Today the situation in the market of petroleum products is stable, there is no shortage of fuel …
Gazprom Neft Board of Directors Reviews Information on the Outlook for Business Development in the Production and Sale of Lubricants
The Gazprom Neft Board of Directors has reviewed information on recent outcomes and the outlook for the further development of Gazpromneft Lubricants, operator the company’s lubricants business, established in 2007 and now holding a 21-percent share in the country’s packaged lubricants market. Gazpromneft-Lubricants products are sold under the company’s G-Energy and Gazpromneft brands, allowing the company to offer …
Oil Production at the Vostochno-Messoyakhskoye Field Reaches Five Million Tonnes
Messoyakhaneftegaz, the Rosneft—Gazpromneft joint venture, has produced its five millionth tonne of oil at the Vostochno-Messoyakhskoye field — an achievement that has required just over 18 months’ commercial production at Russia’s northernmost oil and gas condensate field. Production at Messoyakha is currently running at more than 11,400 tonnes of oil per day. Development of the hard-to-recover reserves here has involved the …
Gazprom Neft Commissions Second Well at Sarqala Field
Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a second well — the Sarqala-2 — at its Sarqala field (within the Garmian block), located in the Kurdistan Region of Iraq (KRI). The new well is currently producing 11,000 barrels per day (bpd), with potential to increase this to 15,000. Total daily production at the field has now increased …
Rosneft: Operating Results for Q1 2018
Q1 2018 AVERAGE DAILY HYDROCARBON PRODUCTION AT 5.71 MMBOE, CLOSE TO Q1 2017 LEVEL LIQUIDS PRODUCTION INCREASED BY 0.3% QoQ NEW UPSTREAM PROJECTS CAPACITY GROWTH IN LINE WITH THE APPROVED PLANS Q1 2018 GAS PRODUCTION AMOUNTED TO 16.9 BCM REFINING QUALITY IMPROVEMENT: LIGHT PRODUCTS YIELD REACHING 58.8%, REFINING DEPTH – …
Rosneft: Financial Results for 1Q 2018
Revenue growth by 22% to RUB 1.72 trln in 1Q 2018 EBITDA increase by 15.6% up to RUB 385 bln in 1Q 2018 Net income jumps by more than by 7 times to RUB 81 bln Considerable improvement in free cash flow to RUB 142 bln Short-term financial liabilities cut …