Arctic LNG 2: Utrenneye Field Discovers Two New Commercial Deposits
PAO NOVATEK today announced that upon drilling and testing of well #294 at the Utrenneye field, two new hydrocarbon deposits were discovered and commercial viability of the mid-Jurassic deposits was confirmed. The two new deposits’ reserves under the Russian reserve classification, subject to confirmation at Russian state reserves commission, are …
GlobalData: China and Russia Remain Key Allies for Venezuela
Following the recent visit of President Nicolas Maduro to China to sign cooperation agreements and seeking more financial support from the Chinese government, Adrian Lara, Senior Oil and Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the impact on the upstream sector: “Financial support …
Astana Hosted the 4th KDR Well Engineering Forum (KDR 2018)
The 4th KDR Well Engineering Forum was held on 13th September 2018 at the Palace of Independence in Astana. The main purpose of the event is to exchange experience and technical solutions amongst oil and gas department heads and leading drilling, completion, stimulation and EOR specialists. The KDR opened with …
Petrosibir: Results of Fracturing
Results of fracturing Petrosibir is pleased to announce the results of fracturing in the Ayazovskoye field, Bashkiria. Wells ##9 and 54 were fracced in August as announced earlier. The production has now stabilised, the current volumes are almost double compared to pre frac rates. Please see the table below for …
OPEC Daily Basket: Friday, 14 September 2018, Price Stood at $76.05 a Barrel
Vienna, Austria, 17 September 2018–The price of OPEC basket of fifteen crudes stood at $76.05 a barrel on Friday, compared with $76.46 the previous day, according to OPEC Secretariat calculations. (View Archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente …
Ministry of Energy: Supports Incentives for Western Siberia Oil Production
“The Ministry of Energy supports development of measures to promote oil production in fields in Western Siberia.” This was announced by the Minister of Energy of the Russian Federation Alexander Novak. “We have always always come out with such a proposal, we need to provide such incentives, therefore, we certainly …
Gazprom VNIIGAZ: Maxim Nedzvetsky Appointed General Director
Maxim Nedzvetsky has been appointed Director General of Gazprom VNIIGAZ. Maxim Nedzvetsky was born in 1982 in Novy Urengoy. He graduated with honors from the Peoples’ Friendship University of Russia, majoring in Economics. He has a PhD in Economics and an MBA. He completed a professional retraining course at the …
GlobalData: Record Russian Budget Revenues Forecast from Oil&Gas
Russia is set to reap record ruble revenues from the upstream oil and gas sector over the next six years, according to GlobalData, a leading data and analytics company. As the country’s oil export duties are phased out over the 2019-2024 period by the so-called tax maneuver, Mineral Extraction Tax …
NOVATEK and JOGMEC Sign MOU on LNG Cooperation
Today, taking the opportunity of the meeting between the President of Russian Federation Vladimir Putin and the Prime Minister of Japan Shinzo Abe, Chairman of the Management Board of PAO NOVATEK (“NOVATEK”) Leonid Mikhelson and Chairman and CEO of Japan Oil, Gas and Metals National Corporation (JOGMEC) Tetsuhiro Hosono, signed …
LUKOIL: Expands Yarega Steam Generation EOR Plant
LUKOIL has commissioned a steam generation farm at Yarega field of highly viscous oil in the Republic of Komi. The facility is to build up production as part of Yarega area Phase 2 development. The farm, including five boilers with the total capacity of 125 metric tonnes of steam an …