Russian Direct Investment Fund Comments on Eurasia Drilling and Schlumberger Merger
Following this morning’s announcement of Eurasia Drilling’s take private and Schlumberger’s US$1.7 billion investment in the Company post transaction, Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented, “This is a real vote of confidence by a major global company in Russian growth opportunities and the fundamentals of the oil …
UPDATED 25/9/15 – Eurasia Drilling Company To Merge With Schlumberger – Schlumberger Will Not Extend Log Stop Date Past the 30th September 2015
Update 25/9/15 Eurasia Drilling Company Limited announces that Schlumberger B.V. has advised the Company that SLB will not extend the long-stop date for completion of the proposed merger between the Company and EDC Acquisition Company Limited (“EACL”) and the related transaction with SLB (the “Transaction”) after 30 September 2015. The …
Rosneft Started Production at the Sakhalin-1 Arkutun-Dagi Field
The participant companies of the Sakhalin-1 consortium are pleased to note that all the works for the start of the commercial oil production at the Arkutun-Dagi field were conducted in strict compliance with the approved schedule, determined technological specifications and subject to all the industrial and ecological safety legislations. Berkut …
Rosneft: East Messoyakha Reserves Up 32%
Recoverable oil and condensate reserves of C1 category of the East Messoyakha field increased by 49.7 mln t (32% growth) in 2014 , reaching 204 mln tons. The net recoverable oil and condensate reserves of C1+C2 categories of West Messoyakha and East Messoyakha fields totals about 480 mln tons. The …
BP Macondo: Court Rules Less Spilt Than Claimed, Fine to be Cut, BP Not Grossly Negligent
Today the United States District Court for the Eastern District of Louisiana ruled on the issues raised in the Phase 2 trial of the Deepwater Horizon case: the quantification of oil spilled and BP’s source control efforts following the accident. The Court found that 3.19 million barrels of oil were …
Gazprom Neft: Increases Novoportovskoye Pipeline Capacity
Gazprom Neft has begun construction of the second section of a pressure-pipeline from the Novoportovskoye field to Cape Kammeny (located on the shore of the Gulf of Ob, Yamalo-Nenets Autonomous Region), for onward shipment to customers by sea. Some 530 mm in diameter and running to a length of 105 kilometres, the pipeline will, once complete, have a total capacity of more than 5.5 million tonnes of oil per …
GlobalData Analyst: Russia Looks to Asia to Ease Oil and Gas Industry Pressures
External pressures on Russia’s oil and gas industry have compelled the country to seek partnerships with Asia-based companies to help with the production and marketing of its vast hydrocarbon resources, says an analyst with research and consulting firm GlobalData. According to Anna Belova, GlobalData’s Upstream Analyst covering the Former Soviet …
Total: Successful Radial Cutting Torch Application in Russia
Weatherford, which specialists successfully completed complex interventions in severe High North environment, is successfully operating with major Russian and foreign operators at the oil fields of the Timan-Pechora Province, Komi Republic, as well as Nenets and Yamal and Nenents Autonomous Areas. Various mills, cutters, perforators and dressing tools, etc. are …
EIA: Kazakhstan Report
Kazakhstan, an oil producer since 1911, has the second-largest oil reserves as well as the second-largest oil production among the former Soviet republics after Russia. Kazakhstan is a major oil producer. The country’s estimated total petroleum and other liquids production was 1.70 million barrels per day (bbl/d) in 2014. The …
Tethys Petroleum: New Gas Production Phase Doubles Production
Tethys Petroleum Limited is pleased to announce that the new phase of gas production is on stream and is producing at more than double previous production. Kazakhstan Shallow Gas Programme Update – Gas Production Doubles Following the recent announcement of a new Gas Sales Contract, the next phase of shallow …