GE: Kazakhstan is “Hugely” Important to the Global Energy Sector
Kazakhstan, with its strategic trade position and strong energy portfolio, is “hugely” important to the global energy sector, a director at GE Oil & Gas said. General Electric hosted a forum in the Kazakh capital of Astana to focus on emerging regional trends in the transportation and energy industries. Lorenzo …
Urals Energy: First Annual Tanker Sets Sail
Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to make the following announcements: Tanker loading The planned first annual tanker shipment for export from Arcticneft on Kolguyev Island has been successfully completed. The tanker has left Kolguyev Island with 30,439 tons of crude …
More Research on CO2 Reduction and Digitalisation
Statoil’s new technology strategy intensifies the company’s research on CO2 reduction and digital solutions. “Statoil wants to be in the forefront of the development in the oil and gas industry. Technology and innovation are vital to finding more resources and developing projects, while at the same time reducing costs and …
Rosneft Finds First Oilfield in the Khatanga Licence Block
Russia’s largest oil producer Rosneft said on Sunday it had found its first oilfield in the Laptev Sea in the eastern Arctic, making a breakthrough in the search for hydrocarbons in the harsh and far-flung region despite Western sanctions. Rosneft and its partners plan to invest 480 billion roubles (6.57 …
KMG EP Purchased a 49% Share in Karpovskiy Severniy LLP
JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) announces the acquisition of a 49% share in Karpovskiy Severniy LLP (“KS”) from MOL Hungarian Oil and Gas Plc. (“MOL”) for 1 (one) US dollar. As a result, KMG EP now owns a 100% interest in KS. All regulatory approvals have …
Kazakhstan’s Tengizchevroil cuts dividends to finance expansion
Tengizchevroil, Kazakhstan’s biggest oil producer, has reduced dividend payouts to its shareholders Chevron, ExxonMobil, LUKOIL , and KazMunayGaz, KazMunayGaz’s chief executive Sauat Mynbayev said on Thursday. Mynbayev told reporters Tengizchevroil would also borrow about $20 billion to help finance the $37 billion expansion. He did not say what the previous …
New Standby Vessel for Sakhalin-2 Named Stepan Makarov
On 15 June 2017, the naming ceremony took place for a new multifunctional icebreaking standby vessel (IBSBV) built for Sakhalin-2 project under a long-term agreement between Sakhalin Energy and SCF. Stepan Makarov will have Saint Petersburg as her home port and is registered under the Russian flag. The main tasks …
Kazakhstan Rejects Further Oil Output Cut Report
Kazakhstan has no plans to cut its crude oil production further, rejecting a report from Russia’s TASS agency that the Central Asian country was ready to cut deeper to offset an increase in the output from its huge offshore field, Kashagan, in the Caspian Sea. The TASS report quoted Saudi …
Gazprom Neft to Develop Cooperation with American Oil Services Company Helmerich & Payne
Gazprom Neft has concluded a long-term partnership memorandum on oil and gas projects in Russia with American oil services company Helmerich & Payne International Drilling Co. The document, outlining the terms of the partnership, was signed by First Deputy CEO, Gazprom Neft, Vadim Yakovlev and Vice President, Hellmerich & Payne, David Millwee. Under the agreement, both parties have agreed …
LUKOIL: Completes Fifth Vladimir Filanovsky Well and Commences New Injection Well
LUKOIL has completed the construction and commissioning of the fifth production well at Vladimir Filanovsky offshore field in the Caspian Sea and commenced the construction of the sixth well that is going to be used for water injection. The fifth well has a bilateral horizontal design. The horizontal length of …