SPD: Drills Record Salym Production Well
SPD set a new record drilling a 4288-meter long production well. It is the longest production well ever drilled in Salym group of oil fields. A drilling milestone was delivered on pad 56 in Vadelyp field by the drilling rig 7 of Siberian Service Company (SSK), SPD drilling contractor. “This …
Petrogrand: Signs Letter of Intent to Purchase 49% to Ripiano Holding
On Tuesday the 10th of February, Petrogrand AB signed a Letter of Intent regarding the acquisition of 49 percent of the shares and votes in Ripiano Holding Ltd, a Cyprus holding company with an oil producing subsidiary in Russia. The purchase price amounts to about 180 MSEK and is paid in …
Igor Sechin Participated in IP Week
On February 10, 2015 Rosneft Head Igor Sechin took part in the International Petroleum (IP) Week in London. Igor Sechin made a presentation during the session “Seizing opportunities created by the changing markets, shifting trade patterns, and hedging against price volatility”. In his speech he noted that currently oil markets …
Roxi Petroleum: Sells Galaz Contact Area for $20.72m
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce the conditional sale of the Company’s equity and debt interests in the Galaz Contract Area, the second of the Company’s principal assets, for net proceeds of $20.72 million after estimates of associated taxes. …
Bashneft: 2014 Reserve Replacement Ratio Totals 179%
JSOC Bashneft has announced the results of the latest independent audit of hydrocarbon reserves conducted by Miller and Lents, Ltd. in accordance with the PRMS classification (Petroleum Resources Management System). The auditor has evaluated reserves at 190 oil and gas condensate fields of the Company in the Volga-Urals, West Siberian …
Igor Sechin Reported on Rosneft 2014 Operational Results to Vladimir Putin
The President of the Russian Federation Vladimir Putin held a working meeting on Wednesday with the Head of Rosneft Igor Sechin, who reported on the Company’s 2014 operational results to the President of the country. The overall hydrocarbons production at year-end was approximately 252 mln toe, which is amounts to …
LUKOIL: Approves Board Candidate List
The Board of Directors of OAO LUKOIL approved lists of candidates for election of the Board of Directors and the Audit Commission at the 2015 Annual General Shareholders Meeting. The list of candidates is based on the nominees put forward by shareholders who own at least two percent of the …
Ruspetro: Sergey Gordeev Joins Board as Tom Reed Departs
Ruspetro plc. announces that, under the terms of its Relationship Agreement with Mastin Holdings Limited, the Board of Directors has approved the nomination of Mr Sergey Gordeev as a Non-executive Director of the Company. Mr Gordeev’s appointment is effective immediately. Mr Gordeev is President and CEO of PIK Group OJSC, …
Gazprom Neft: Production Volumes Replaced Five Fold
As at 31 December 2014 Gazprom Neft’s total proved and probable (2P) hydrocarbon reserves (including the Company’s share in joint ventures*) by international SPE-PRMS** standards amounted to 2.55 billion tonnes of oil equivalent. This represents an 11.5% or 263 million tonnes increase over 2013’s figures. Gazprom Neft’s production volumes in …
BP Reports Fourth Quarter and Full Year 2014 Results
BP today reported its results for the fourth quarter and full-year 2014. Underlying replacement cost profit1 for the fourth quarter was $2.2 billion compared with $2.8 billion for the same period in 2013. Full year underlying replacement cost profit was $12.1 billion compared with $13.4 billion reported for 2013. – …