RDCR 2016: Initial Speaker Line Up
The RDCR is pleased to announce the following speakers and companies for the 4th RDCR. www.rdcr.net Rob Tinkhof – Well Engineering Manager, Salym Petroleum Development B.V Vladislav Maratovich Tenishev – Senior Manager, Komi Pilot Projects, Lukoil Julian Bamgbose – Well Services Front End Design & Planning, Salym Petroleum Development B.V …
TCO: Tengiz Field Waiting on Final Decision for 12m Ton Increase in Production
It is planned to adopt a final decision on financing the Wellhead Pressure Management Project / Future Growth Project (WPMP / FGP) of the Kazakh field Tengiz in the first half of 2016, according to the information on the results of activities of the Ministry of Energy of Kazakhstan for …
KMG EP: Reserve Audit for 2015 Shows a 15% Increase in 2P Reserves
JSC KаzМunaiGas Exploration Production (“KМG EP” or the “Company”) announces the results of the estimates of liquid hydrocarbon reserves as at 31 December 2015 performed by independent consultant DeGolyer and MacNaughton (“D&M”). According to the D&M report proved plus probable (2P) reserves of liquid hydrocarbons as at 31 December 2015 …
KazMunaiGas Exploration Production: To Increase Domestic Pricing Policy
JSC KazMunaiGas Exploration Production updates on domestic pricing for 2015 and 2016. Until 2015, the Company supplied oil to the domestic market in line with the volumes outlined in the IPO Prospectus (2006-2010: up to 1.9 million tonnes; 2011-2015: in line with volumes outlined in the Company’s business plan, which …
Gazprom and Bolivia Advancing Cooperation to New Levels
A Gazprom delegation headed by Alexey Miller, Chairman of the Gazprom Management Committee, visited today Bolivia. Tarija hosted a working meeting between Alexey Miller and Evo Morales, President of the Plurinational State of Bolivia. The parties discussed a wide range of issues relating to the ongoing and future energy cooperation. This collaboration was noted to be strategic and long-term. Another working meeting …
Rosneft and PDVSA signed Heads of Agreement for Joint Development of the Offshore Natural Gas Project in Venezuela
Rosneft and PDVSA signed Heads of Agreement to establish a joint venture for implementation of the large-scale project for production, treatment and sale of natural gas at the offshore fields Patao, Mejillones and potentially Rio Caribe in Venezuela. The Heads of Agreement is concluded in elaboration of the Memorandum on …
OOO LUKOIL-Kaliningradmorneft: Awarded D33 Block in the Baltic Sea
In accordance with Directive of the Russian Federation Government No. 246-r. of 18 February 2016, OOO LUKOIL-Kaliningradmorneft (a wholly-owned subsidiary of PJSC LUKOIL) was granted the right to use a subsoil block of federal significance which includes the D33 oil field in the Baltic Sea for the purpose of hydrocarbon …
ConocoPhillips: Announces Executive Management Changes
ConocoPhillips today announced the retirement of Jeff Sheets as executive vice president, Finance and chief financial officer after more than 35 years with ConocoPhillips. In conjunction with Sheets’ retirement, the company also announced several executive leadership changes to realign responsibilities. The executive leadership changes are summarized below: Don Wallette, Jr., …
ExxonMobil: Closes Azeri Office Linked to Araz-Alov-Sharg Oilfield Projects Due to Delays
U.S. energy company ExxonMobil has closed one of its offices in Azerbaijan, the country’s tax ministry said on Wednesday, the result of a delayed oil project. The office was linked to an oil production project on the Araz-Alov-Sharg oilfields in the Caspian Sea. The project is frozen until a decision …
Gazprom Neft: Reserve Replacement Ratio Running at 279% in 2015
As at 31 December 2015 total proved and probable (proved + probable — 2P,* SPE-PRMS international standards**, including those held by joint enterprises*) hydrocarbon reserves at Gazprom Neft totalled 2.7 billion tonnes of oil equivalent (Gtoe) — an increase of 143 million tonnes (5.6 percent) year-on-year. On that basis, new reserves (at 79.7 mtoe) indicate a reserve-replacement ratio of 279 percent. Proved reserves (proved, 1P) at the end …