Tethys Petroleum: Receives Share Acquisition Proposal
Tethys Petroleum Limited today announces that it has received non-binding proposals from private investors, Winston Sanjeev Kumar Soosaipillai and Medgat Kumar (each, an “Investor” and together, the “Investors”) to acquire ordinary shares in the Company (together, the “Share Acquisition Proposals”). The key commercial terms of the Share Acquisition Proposals are summarized …
Tethys Petroleum: Kenneth May Appointed Permanent CEO, Plus Board Shake Up
Tethys Petroleum Limited today announces that Alexander Abramov has been removed from the Board of Directors of the Company by a majority vote of the board and in accordance with the Company’s Articles of Association. Alexander Abramov has been replaced as Chairman of the Board by William P. Wells. The …
KMG EP: Rozhkovskoye Field has Positive Test Flows at U25
JSC KazMunaiGas Exploration Production announces the results of an exploratory appraisal well at the Rozhkovskoye field, located in the Fedorovsky block. During testing of the lower formation of Tournaisian reservoir in the exploration well U-25, drilled in 2016, inflow of gas and condensate was obtained at the interval of 4,418-4,430 …
Gazprom Neft: Looks to Improve APG Utilisation Programmes
The Gazprom Neft Board of Directors has reviewed its strategy on APG utilisation programmes and the more effective use of APG in 1H2016, as well as long-term plans for 2016 — 2017. Average usage of APG at the company’s mature assets currently exceeds 93 percent. At Gazpromneft-Noyabrskneftegaz, in particular, APG …
Lukoil: Starts Commercial Production from the Vladimir Filanovsky Field
Lukoil started commercial production at the Vladimir Filanovsky field in the Caspian Sea was launched today by the President of the Russian Federation Vladimir Putin. The Vladimir Filanovsky field, discovered by LUKOIL in 2005, is Russia’s largest oil discovery for the past twenty-five years and the second field commissioned by …
GE and Baker Hughes Agree to Create New Fullstream Digital Industrial Services Company
GE and Baker Hughes today announced that the companies have entered into an agreement to combine GE’s oil and gas business (“GE Oil & Gas”) and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities. The “New” Baker Hughes will be a leading equipment, technology and …
Gazpromneft-Noyabrskneftegaz: Discovers New Field at Zapadno-Chatylkinsky
A new oilfield has been discovered at the Zapadno-Chatylkinsky license block, Yamalo-Nenets Autonomous Okrug, under licence to Gazprom Neft subsidiary Gazpromneft-Noyabrskneftegaz. Drilling of three exploratory wells has revealed six independent oil deposits, with total geological reserves estimated at more than 40 million tonnes, subsequently confirmed by the State Commission on Mineral Reserves. The newly discovered field forms part …
GE in Discussions With Baker Hughes on “Potential Partnerships”
General Electric Co. is in talks to merge its oil-and-gas business with Baker Hughes Inc.,according to people familiar with the matter, a transaction that would dramatically reshape the industrial giant. GE has approached the oil-field-services company about a deal, the people said, but details of the talks couldn’t be learned …
Roxi Petroleum: Deep Well A6 – Gross Oil-Bearing Intervals Totalling 127m Have Been Identified
Roxi is pleased to update the market with news of Deep Well A6 and Shallow well 142. Background Roxi has a 58.41% interest in the BNG Contract Area, which is located in the west of Kazakhstan 40 kilometers southeast of Tengiz on the edge of the Mangistau Oblast, covering …
Sorovskneft: Achieves Annual Production Target Ahead of Schedule
LLC Sorovskneft (a company forming part of Bashneft Group, the controlling stake in which has recently been bought by PJSC Rosneft Oil Company) achieved the 2016 production target ahead of schedule, with oil production totalling about 1.9 million tonnes. This was achieved due to successful implementation of a programme of …