Bashneft: Oleg Mikhaylov Steps down
JSOC Bashneft’s Board of Directors has accepted the resignation of Oleg Mikhaylov, Vice President for Oil and Gas Production, from the Management Board, as Mr. Mikhaylov has decided to leave the Company for family reasons. «We greatly regret that Oleg Mikhaylov is leaving the Company. He has made a significant …
Bashneft: Wins Leonovskiy Subsoil Area at Bashkortostan Auction
At an auction for the right to conduct geological exploration, prospecting and production of hydrocarbons held on September 23 by the Department of Subsoil Use of the Volga Federal District (Privolzhsknedra), Bashneft won the rights to the Leonovskiy subsoil area. Bashneft will make a one-time payment of 28.3 million roubles …
Zoltav Resources: Completes Bortovoy License Acquisition
On 16 December 2013 Zoltav, the CIS-focused oil and gas company, announced that it had entered into a conditional agreement with Bandbear Limited (“Bandbear”) to acquire the entire issued share capital of Royal Atlantic Energy (Cyprus) Limited (“Royal Atlantic Energy”) for a total consideration of US$180 million (the “Acquisition”). The …
Technology Roundtable: Unconventional Oil
Russia is starting to develop its unconventional reserves with pilot projects and longer term plans in place. How do you see the current state of the unconventional sector in Russia and how quickly do you think full scale unconventional development in the region will take place? Weatherford: It is difficult …
Urals Energy: Petrosakh Drilling Update
Urals Energy, the independent exploration and production company with operations in Russia, is pleased to announce that the flow rate for Well #53 has been successfully established and remains stable at around 70 bbls per day. At the same time, drilling of Well #112 is underway and has reached the …
PetroNeft Resources: Arbuzovskoye Well 111 Flows at 150 bpd
PetroNeft Resources plc owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to provide an update on its operations at Licence 61. Highlights: Arbuzovskoye well 111 successfully completed and put into production Initial oil flow rate of 150 bopd No water production associated with the …
ALLIANCE OIL AND REPSOL REACH AN AGREEMENT TO FORM AND GOVERN RUSSIAN EXPLORATION AND PRODUCTION JOINT VENTURE
Alliance Oil Company Ltd and Repsol Exploración, S.A. have reached an agreement to form and govern a joint venture for exploration and production growth in Russia. Further to the agreement, Alliance and Repsol envisage establishing a joint venture with a total asset base of approximately $840 million following asset and …