Eurasia Journal News

As previously announced Petrosibir commenced drilling well #9 on Ayazovskoye in Bashkiria in August. The new well is located approximately 400 meter north of the successful well #12. A target depth of 2,596 meters has been reached and the well has now been completed and oil has been found. Petrosibir …

Russia’s aviation agency says 19 people have died after a helicopter carrying oil workers crashed. The Federal Air Transport Agency says in its statement Saturday that 16 of the 19 passengers on board and all three crew members died in Friday’s crash in northern Russia. The Mi-8 helicopter was traveling …

JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) held its regular Board of Directors (“the Board”) meeting, where the Board approved a revision of the 2016 capital expenditures plan. Consequently, capital expenditures in 2016 are expected to be around 103 billion Tenge (US$286m1), which is 14.7 billion Tenge or 17% more than …

The Gazprom Board of Directors approved the adjusted Investment Program, budget (financial plan), and cost optimization (reduction) program for 2016. Pursuant to the adjusted Investment Program for 2016, the overall amount of investments will stand at RUB 853.01 billion, up RUB 11.011 billion versus the Investment Program approved in December 2015. Accordingly, the amount of long-term financial investments will …

Roxi, the Central Asian oil and gas company, with a focus on Kazakhstan, is pleased to update the market with news of its BNG operations and MJF Structure. Introduction Roxi is pleased to update the market with news of its initial testing at Shallow Well 141 and the preparatory work …

Alexey Miller, Chairman of the Gazprom Management Committee, and Sanjay Gupta, Chairman and Managing Director of Engineers India, today signed a Memorandum of Understanding on the sidelines of the 8th BRICS summit in Benaulim (Goa, India). The signing ceremony was held in the presence of Vladimir Putin, President of the Russian Federation, and Narendra Modi, Prime Minister of India. The Memorandum …

Condor Petroleum Inc. is pleased to announce that commercial oil production has commenced at the Taskuduk oilfield in Kazakhstan. The production from Taskuduk complements the Shoba commercial production which began in September. The combined flow rates from these 100% owned oilfields have exceeded an average of 600 barrels per day to …

Eni announces that the first batch of export crude oil has been shipped from the onshore processing plant of the giant Kashagan oil field. Following the successful pipelines replacement, the field has been recently re-opened. Production is expected to gradually increase up to a first level of 180,000 barrels per day, …

MOL‘s Board of Directors formally approved the company’s new long-term strategy, “MOL Group 2030 – Enter Tomorrow”, at its meeting held on 13th October 2016. The key pillars of the new strategy are the following: Strengthen and sustain MOL’s regional leadership position in CEE. MOL Group shall sustain its regional …

Gazprom Neft and state exploration company Rosgeologia have used the Geologorazvedka-2016 conference to announce the signing of a Memorandum of Cooperation on establishing a joint enterprise to conduct geological prospecting operations in the Khanty-Mansi and Yamalo-Nenets Autonomous Okrugs. Both companies will have an equal interest in the joint enterprise. Following the establishment of a legal entity, both companies plan to begin geological prospecting …