Oil & Gas Operators

Gazprom Neft’s Board of Directors has reviewed and confirmed the company’s development strategy to 2030. The new document continues current strategy to 2025, which envisages achieving production at 100 million tonnes of oil equivalent (mtoe) per year while, concurrently, maintaining the proved (1P) reserves-to-production ratio of at least 15 years and ensuring a 100-percentreserves replacement every year. The strategy …

Gazprom Neft’s Board of Directors has reviewed information on further improving the efficiency of the oil business’s operational processes through the use of innovative digital technologies. Digital transformation is a priority area of focus in Gazprom Neft’s activities, creating new opportunities for improving economic efficiency in the face of increasing business complexity and ever decreasing potential for process improvements through …

Gazprom Neft’s Board of Directors has reviewed information on implementing the company’s resource-base development strategy. The current document, approved by the Board of Directors in 2016 and updated in November 2017, clarifies the company’s strategy on resource-base development to ensure the company achieves its objectives in line with current industry and global trends — the key priority being to ensure the …

PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its joint venture Yamal LNG completed the first ship-to-ship LNG transshipment in the area near the port of Honningsvag in northern Norway. The Arc7 ice-class LNG tanker “Vladimir Rusanov” successfully reloaded an LNG cargo delivered from the Yamal LNG facility at …

The Gazprom Management Committee took note of the information about the Company’s preliminary operating results for 2018 and the projected investment program and budget (financial plan) for 2020–2021. The Management Committee also approved the draft investment program and budget (financial plan) for 2019. Pursuant to the draft investment program for 2019, the overall amount of investments …

After the two wells drilled on the Kurmangazy structure were dry, nothing was heard about this shelf project for a long time. But now Kazakhstan and Russia are planning to resume work, as the Minister of Energy for Kazakhstan, Kanat Bozumbayev announced today in Astana. “On contract exploration on Kurmangazy  …

PAO NOVATEK announced today that its joint venture Yamal LNG has commenced initial production of LNG at the plant’s third LNG train. The total nameplate capacity of all three LNG trains is 16.5 mmtpa, or 5.5 mmtpa per LNG train. “We have successfully launched all three LNG trains at our …

Further to the Company’s recent announcements, the board of Urals Energy (the “Board”), the independent exploration and production company with operations in Russia, provides the following updates. Initial findings from the accountants’ review The initial stage of the independent review of transactions by Urals Energy’s 98.56% owned subsidiary, JSC Petrosakh …

Alexey Miller, Chairman of the Gazprom Management Committee, and Alexey Mordashov, Chairman of the Board of Directors of Severstal, today signed in Moscow a Technology Roadmap to launch the production of large-diameter pipes (LDPs) of K80 strength class. It is planned that by 2023 Severstal will become the first company in Russia to design and start producing electric-welded longitudinal steel LDPs and fittings for …

The Gazprom Board of Directors took note of the information about the impacts of the events of 2018 on the long-term outlook for the global energy market. It was highlighted that the growth in natural gas consumption around the world continued unabated. In 2016–2017, it added more than 3 per cent on a yearly basis. The growth rate for 2018 may be even higher. One of the …