RN-Uvatneftegaz Produced 1 Million Tons of Oil at the South Gavrikovskoye Field
LLC RN-Uvatneftegaz, a subsidiary of NK Rosneft, produced the first million tons of oil in the South Gavrikovskoye field. Currently, 20 oil wells provide average daily production of 1 thousand tons of oil. Yuzhno-Gavrikovskoye is located in the Ust-Tegussky license area and is part of the Eastern Development Center (ECU) of …
LUKOIL and Eni Signed Agreement on Projects in Mexico
JSC “LUKOIL” and Eni signed Farm-Out Agreement on Blocks 10, 12 and 14 in the Mexico’s shallow waters. The Agreement enables to expand LUKOIL’s exploration portfolio in the region, diversify risks and build up exploration competencies. According to the Agreement, LUKOIL assigns 40% in Block 12 to Eni, retains the …
Russia’s Rosneft says Qatari Fund to Pay 3.7 Billion Euros for Rosneft Stake
MOSCOW (Reuters) – Russian oil giant Rosneft (ROSN.MM) said on Tuesday that the Qatar Investment Authority sovereign wealth fund would pay around 3.7 billion euros ($4.23 billion) for a 14.16 percent stake in the company. The QIA would become the third-largest Rosneft shareholder as a result of the deal after …
Rosneft Publishes Operating Results for Q3 and 9M 2018
Upstream Hydrocarbon production amounted to 72.4 mmtoe (5.83 mmboed) in Q3 2018 and 211.8 mmtoe (5.75 mmboed) in 9M 2018, exceeding the level of Q2 2018 and 9M 2017 by 3.3% and 0.5% respectively. EFFICIENT PRODUCTION RECOVERY RESULTING FROM OPEC+ LIMITATIONS EASING Q3 2018 AVERAGE DAILY HYDROCARBON PRODUCTION REACHED 5.83 MMBOE, DEMONSTRATING …
SOCAR AQS Beats New Record
A few days ago SOCAR AQS set a new record in the history of national drilling industry. With application of a new-generation drilling rig, Drillmec HP 3000, the company successfully ran, with single trip, a heavy-weight intermediate casing in Well 113 of Platform 6 on Bulla Field. Thus, the company successfully ran …
Caspian Sunrise: Workover Operations Proving Successful
BNG Shallow Wells Production levels Total oil production in October 2018 from the 5 wells operational in the MJF structure and the 4 wells in the South Elemes structure was 54,348 barrels (average of 1,753 bopd). Completed workovers The remedial work completed at the start of October 2018 has resulted …
Azerbaijan’s SOCAR in Talks to Develop Oil Field in Russia
Azerbaijan’s state oil company SOCAR is in talks with Russia’s Rosneft, Gazprom and Novatek over the development of an oil field in Russia, SOCAR Vice President Elshad Nasirov told reporters Nov. 1 in Minsk, Reuters reported. Nasirov also said that SOCAR had proposed extending its gas contract with Gazprom to …
OPEC Daily Basket Price: Thursday, 1 November 2018, Stood at $72.64 a Barrel
Vienna, Austria, 2 November 2018–The price of OPEC basket of fifteen crudes stood at $72.64 a barrel on Thursday, compared with $75.24 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), …
Urals Energy Capital “Highly Constrained”, Prepares To Load Tanker
Urals Energy PCL said Thursday that its working capital continues to be “highly constrained” after an un-authorised USD1.5 million loan made from its funds left it short of working capital. The Russia-focused exploration & production company also added that its tanker has arrived at the Kolguev Island where loading should …
Petrosibir: A New Oil Field Discovery within the Aysky Exploration Block in Bashkiria
Petrosibir is pleased to announce that the Company has successfully re-entered an old Soviet well #141 within the the Aysky exploration licence in Bashkiria. The Aysky licence was issued in September 2009 and will expire in December 2020. This licence block is adjacent to the north-eastern border of the Ayazvskoye …