Urals Energy: Outlines Drilling and Workover Plans for 2017
The board of Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to provide the following update on its plans for operations in 2017: Komi operations At RK-Oil, we have completed preparations to re-enter the existing well and this should commence in Q1 2017. At …
Petrosibir: Orlovsky Test Prove High Reservoir Quality but Low Flow Rates
Petrosibir has previously announced that the drilling of well #9 has been completed and that testing started in October. The tests of the Orlovsky horizon has confirmed a high reservoir quality, however, at low flow rates. Certain measures are planned to improve the productivity. Petrosibir is also going to test …
Tethys Petroleum: Claims Against the Company are Dismissed
Tethys Petroleum Limited is pleased to announce that the previously announced claims against employees of the Company’s wholly owned subsidiary Tethys Aral Gas LLP (“TAG”) in Kazakhstan have been dismissed. Tethys wishes to acknowledge the assistance of the Office of the Almaty City Prosecutor in quickly reviewing the claims and …
Alexei Ulyukayev, Economy Minister, Detained Over Alleged Bribe Related to Rosneft’s Purchase of Bashneft
Russian investigators said on Tuesday they had detained Economy Minister Alexei Ulyukayev in a bribery case linked to a $5 billion acquisition by state oil giant Rosneft, a surprise move that may expose fault lines in Vladimir Putin’s inner circle. Ulyukayev, a 60-year-old technocrat whose ministry has been overseeing a …
Surgutneftegas: 10 Month Production Up 5.5% yoy
In January-October 2016, Surgutneftegas produced about 51,408.8 thousand tonnes of crude oil. For the year to date, crude output in the Republic of Sakha (Yakutia) equaled 7,396.5 thousand tonnes, 5.5% up versus ten months of the last year. In January-October 2016, gas production in Surgutneftegas amounted to 8,006.3 million cubic …
ConocoPhillips: Outlines Plan For Strong Balance Sheet, Growing Dividend and Disciplined Growth
ConocoPhillips (NYSE: COP) will hold an Analyst and Investor Meeting today to outline the company’s strategy and discuss several planned actions for accelerating the company’s value proposition of a strong balance sheet, growing dividend and disciplined growth. These actions include an initial $3 billion share repurchase program and the initiation …
SPD has Constructed Two Horizontal Achimov Formation Wells
Salym Petroleum Development (SPD) has successfully started up two horizontal wells on the West Salym oilfield which were constructed on the Achimov formation* using the multi-stage hydraulic fracturing (frac) technology. Within the cell for pilot development of Achimov deposits SPD has also formed a water management (WM) system of one …
SPD Drilled the 1100th Well in Salym Group of Oil Fields
Salym Petroleum Development (SPD) drilled the 1100th well in Salym group of oil fields. A 3650-meter well with vertical outstep 2519 meters was drilled in Vadelyp field in 11.75 days by KCA Deutag, SPD drilling contractor. “Efficient realization of drilling program at the Salym group of oil fields is one of the key …
Rosneft: Sells 20% of Verkhnechonskneftegaz to the Beijing Gas Group Company for $1.1bn
Rosneft and Beijing Gas Group Company Limited (hereinafter, “Beijing Gas”) signed a Purchase and Sale Agreement and a Shareholder and Operating Agreement for the sale of a 20% stake in Verkhnechonskneftegaz (a Rosneft subsidiary) to the Chinese company, an Agreement on the Area of Mutual Interest in respect of the …
Tethys Petroleum: Update on Claims Made Against the Company
Tethys Petroleum Limited today provides an update to the previously announced failure by Olisol Petroleum Limited and Olisol Investments Limited (together “Olisol”) to fulfill their obligations under the Investment Agreement, claims made against Tethys subsidiaries in Kazakhstan by Eurasia Gas Group LLP (“EGG”) and other claims made against Tethys subsidiaries …