Shelton Petroleum AB: Agreement to dissolve the cross-ownership with Petrogrand
Shelton Petroleum and Petrogrand have entered into an agreement to dissolve the cross-ownership between the companies through a share swap. The exchange ratio is 0.40 shares in Shelton Petroleum for each share in Petrogrand. The agreement is subject to shareholder resolution at general meetings in both companies. Dissolving the cross-ownership …
Rosneft Board of Directors Approves 2015-2016 Business Plan
On December 18, Rosneft’s Board of Directors reviewed preliminary results of the Company’s performance in 2014 and approved the 2015-2016 plan. According to preliminary data, in 2014 the Company’s growth in reserves exceeded planned rates and is expected to reach over 450 million TOE. In particular, drilling of the world’s …
PetroNeft Resources: December 2014 Operations Update
PetroNeft an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, is pleased to provide an update on operations. Licence 61 Arbuzovskoye 106 well now in production at a stabilised average rate of 170 bopd Arbuzovskoye 103 well drilling ahead Drilling of Tungolskoye 5 horizontal …
Rosneft Acquired Commercial Inflows of Hydrocarbons on the Licensed Blocks of Irkutsk Region
Commercial inflows of oil, gas and condensate have been acquired in four exploration wells on Rosneft’s licensed blocks, which were handed over to Verkhnechonskneftegaz for operational activities on geologic survey, exploration and production of hydrocarbon crude. According to the results of drilling and probes, maximum rates totaled up to 60 …
NOVATEK: Launch of Second Stage of the Urengoyskoe Field
NOVATEK announced today that SeverEnergia (a joint venture between NOVATEK and OAO Gazprom Neft) launched the second stage of the Urengoyskoye field (within the Samburgskiy license area) including the second train of the gas condensate de-ethanization unit. Overall capacity of the two stages of field development is approximately 13 billion …
Rosneft Statement About the Use of Bond Issues
Rosneft affirms that the bond issue by the Company is done with the sole scope of financing its project in the Russian Federation. The Company generates enough cash flow in foreign currencies in order to meet its loan repayment obligations. Until the need for repayment within the realization of its …
Note From the Editor, ROGTEC Magazine
Welcome to issue 39 of ROGTEC Magazine. As a quarterly publication, we will be celebrating a decade of publishing Russia and the Caspian’s leading upstream publication in our next issue. During the last 10 years we have seen the market change, evolve, crash and boom – not necessarily in that …
RN-Uvatneftegaz Produces 50 millionth Ton of Oil
RN-Uvatneftegaz, a subsidiary of Rosneft, produced 50 millionth ton of oil since the start of Uvat project implementation in 2004. In 10 years of enterprise performance the annual oil output increased almost by 10 times – from 1.2 mln tons in 2004 to about 10 mln tons, expected by the …
Urals Energy: Board and Company Update
The Board of Urals Energy, the independent exploration and production company with operations in Russia, announces various Board role and management changes, along with a litigation and general update. Board Changes Mr Leonid Dyachenko, who is presently an Executive Director of the Company and has held the position of CEO …
C.A.T. oil AG: Points to Errors in Joma Industrial Source Corp Bid
The management board of C.A.T. oil AG (Company) (ISIN: AT0000A00Y78; WKN: A0JKWU) was informed by AB PCO Investment Limited (Cyprus) (AB PCO), an investment vehicle of the member of the management board Anna Brinkmann, on 12 December 2014 that the offer document which was published by Joma Industrial Source Corp. …