Novatek: Proved Reserves Up 2.8% yoy
PAO NOVATEK announced that independent petroleum engineers, DeGolyer & MacNaughton (“D&M”), have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2016. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 12,775 million barrels of oil equivalent (boe), including 1,755 billion …
Bovanenkovskoye: Bovanenkovo – Ukhta 2 Pipeline Comes On Stream
The ceremonial inauguration of new production capacities and the Bovanenkovo – Ukhta 2 gas trunkline took place today at the Bovanenkovskoye field. The event was attended by Alexey Miller, Chairman of the Gazprom Management Committee, and heads of Gazprom’s specialized structural units, subsidiaries and contracting organizations. The ceremony featured an address by Russian President Vladimir Putin, who spoke …
Urals Energy: Aiming to Cautiously Ramp Up Activity in 2017
The board of Urals Energy PCL , the independent exploration and production company with operations in Russia, provides a post year-end update on trading for the year ended 31 December 2016 and the outlook for 2017. The Board also provides details of an intended capital reduction and share consolidation and a …
Surgutneftegas Reports Preliminary Operating Results for 2016
Over twelve months of 2016, OJSC “Surgutneftegas” produced 61,848.6 thousand tonnes of crude oil. Last year, crude output in the Republic of Sakha (Yakutia) equaled to 8,894 thousand tonnes, 5% up versus 2015. Over twelve months of 2016, gas production amounted to 9,663 million cubic meters. For the year to …
Tethys Petroleum: Moves Kazakh Office and Adjusts Georgia Seismic Work Plan
Tethys partner in Georgia, Georgia Oil and Gas Limited (“GOG”), has been notified by the Georgian State Agency of Oil and Gas that GOG and Tethys will not be required to complete the previously agreed work programme commitment to conduct 50 km of 2D seismic acquisition in Block XIN by …
Kashagan: Exports First Million Tonnes of Crude and Condensate
North Caspian Operating Company N.V., Operator of the first offshore oil and gas project in the Kazakhstan sector of the Caspian Sea, announced that as of 8 January it has safely produced and exported one million tonnes of crude oil and condensate from the Kashagan field. Production commenced in September …
GlobalData: Russian Cuts In Concert with OPEC
”At the November Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna, Russia delivered many surprises. Not only did the country broker an agreement between rival Saudi Arabia and Iran, but Russia also committed itself to substantial production cuts. For almost a year, Russia signaled that it would only …
Gazprom: Gas Sales To Europe Up 12.5% yoy
“According to the most recent data, Gazprom produced 419.07 billion cubic meters of gas in 2016, which was some 11 billion cubic meters more than planned and 0.57 billion cubic meters more than in 2015. We are always responsive to the market demand and extract as much gas as consumers need. However, our production potential exceeds the actual annual …
Tatneft: 2016 Results – Production Up 5.3% yoy
The enterprises of TATNEFT Croup of Companies produced 28,686, 030 tonnes of crude oil in twelve months of 2016 (105.3 per cent, +1,437,512 tonnes) with PJSC TATNEFT accounting for 28,332,674 tonnes (105.2 процента, +1,405,703 tonnes). The Company’s subsidiaries produced 353,356 tonnes (109.9 percent, +31,809 tonnes) in the licensed areas outside …
Rosneft Strengthens Cooperation with China
Rosneft and China’s CNPC signed an amendment to the agreement envisaging additional supplies via Kazakhstan and the prolongation of the contract signed on 21.06.2013 till 31.12.2023. Deliveries from 01.01.2017 to 31.12.2023 will amount 70 mln t, whilst the total volume of the supplies (including 21 mln t delivered previously) will …