NOVATEK Signed MOU with Saudi Aramco
PAO NOVATEK (“NOVATEK” and/or the “Company”) signed a Memorandum of Understanding (MOU) with Saudi Aramco, the Saudi Arabian National Oil Company. According to the MOU, the parties agreed to collaborate internationally on natural gas projects, including LNG supplies, development of LNG markets, gas exploration and production projects, as well as research …
Gazprom and ChelPipe Sign Roadmap to Produce Pipes for Offshore Projects
Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Andrey Komarov, Chairman of the Board of Directors of ChelPipe, today signed at the Russian Investment Forum in Sochi a roadmap for the development and batch production of pipes for offshore projects. In accordance with the document, ChelPipe will adopt the technology to produce pipes from the 25Cr Super Duplex …
Eni: Full Year 2017 and Fourth Quarter Results
Exploration & Production Hydrocarbon production at record level: – reached 1.92 million boe/d in December 2017, marking an all-time high for Eni; – produced an average of 1.89 million boe/d in the fourth quarter, the highest quarterly production in the last seven years (up by 1.9%); FY production averaged 1.82 …
LUKOIL Produces One Million Tonnes of Oil at Yarega Field in 2017
LUKOIL has reached another milestone with one million tonnes of oil produced at Yarega field, in the Komi Republic, since the beginning of 2017. The company plans to increase Yarega’s production by 20%, as compared with 2016. The meterage of horizontal wells, drilled with steam-assisted gravity drainage, will be increased …
LUKOIL Reports Preliminary Operating Data for the Fourth Quarter and Full-Year 2017
The LUKOIL Group’s hydrocarbon production excluding West Qurna-2 project in the fourth quarter of 2017 increased by 2.9% quarter-on-quarter to 2,284 thousand boe per day. The increase was driven by the development of gas projects. In 2017 production increased by 2.4% year-on-year to 2,234 thousand boe per day. Hydrocarbon …
Kazakhstan’s Tengizchevroil Increases Oil Production
By Ali Mustafayev – Trend: The Tengizchevroil (TCO) oil company produced 28.7 million tons of crude oil (229 million barrels) in 2017, the Director General of the company Ted Echtison said at a press conference in Almaty, Kazakh media outlets reported. Etchison stressed that the mentioned figure is a record …
Russneft: Reserves Replacement Ratio at 176% in 2017.
The reserves replacement ratio was at 176%. As “RussNeft” comments, the bulk of geological exploration works was fulfilled in Khanty-Mansi Autonomous District. During prospecting and appraisal phase, 1 000 km of 2D seismic survey was carried out at Zapadno-Uzunskiy, Pikovy and Khantymansiysko-Frolovskiy licence areas for detailing of promising oil and …
Gazpromneft-Orenburg: Discovers New Hydrocarbon Field in the Uransky Licence Block
Gazprom Neft subsidiary Gazpromneft-Orenburg has discovered a new hydrocarbon field in the Novo-Sergievsky and Sorochinsky districts of the Orenburg oblast. Reserves-in-place at the Novozarinskoe field, located in the Uransky licence block, are in excess of 11 million tonnes of oil. This would appear to confirm company specialists’ predictions of the …
Rosneft: Proved Hydrocarbon Reserves UP by 6% in 2017, Total Reserve Life – 20 Years of Production
As of December 31, 2017, the Rosneft’s SEC (United States Securities and Exchange Commission) proved hydrocarbon reserves achieved 39,907 mmboe (5,395 mmtoe). The hydrocarbon reserves increased by 2,135 mmboe (284 mmtoe) or by 6% compared to the reserves at the end of 2016. The audit, which provided for the reserves …
Dispute Over Kazakh Oil and Gas Field May be Resolved in 1Q 2018
By Ali Mustafayev – Trend: The Memorandum on the settlement of the dispute over the Karachaganak field was extended until the end of the first quarter of 2018, the Minister of Energy of Kazakhstan Kanat Bozumbayev said during a briefing in Astana on January 22, Kazakh media reported. Last April, …