Oil & Gas Operators

Natural gas production analysis shows that over $55.7bn in capital expenditure (capex) would be spent by Russia-focused operators on gas projects over the next four years to ensure that country’s production remains around 61 billion cubic feet per day (bcfd) in 2021 according to GlobalData, a leading data and analytics company. …

Moscow, 23 January 2018. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2017. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 15,120 million barrels of …

Analysis of upstream crude oil production shows that over $39.2bn in capital expenditure (capex) is forecast to be spent by ExxonMobil on oil projects over the next four years to ensure that its production remains around 2.1 million barrels per day (mmbd) in 2021. The Upper Zakum field would drive …

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, took place in Moscow today. The parties discussed issues related to cooperation, including the prospects for further collaboration in the areas of gas supplies, transmission and processing. Source

MOSCOW, Jan 16 (Reuters) – Kazakhstan will increase its oil and gas concentrate production in 2018 by 1 percent to 87 million tonnes, compared to 86.2 million tonnes the previous year, its energy ministry told Reuters on Tuesday. Oil production at its giant Kashagan oil field will rise by 33 …

PetroNeft an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, is pleased to provide a financing update.   Highlights US$2 million loan agreed with Petrogrand AB Operations – Winter production from Sibkrayevskoye is getting …

Zoltav, the Russia-focused oil and gas exploration and production company, is pleased to provide an update on the Company’s exploration programme to assess the resource potential of the Carbonian and Devonian structures in the Western Fields of the Bortovoy Licence, Saratov.   As previously stated, Zoltav believes there is potential to …

Moscow, 16 January 2018. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the twelve months 2017. In 2017, NOVATEK’s hydrocarbons production totaled 513.3 million barrels of oil equivalent (boe), including 63.39 billion cubic meters (bcm) of natural gas and 11,772 thousand tons of liquids (gas condensate and …

Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output. The Caspian Sea nation’s output has been rising over the past year as the giant Kashagan field ramps up production. That’s in spite of Kazakhstan’s pledge to pump 20,000 …

Gazprom Neft subsidiary Gazpromneft-Yamal has completed construction of Russia’s first ever multilateral well with four horizontal cased-hole side tracks, at its Novoportovskoye field. A total 6,756 metres was drilled, including 4,411 metres drilled in the target strata. The well was constructed in 39 days at a rate of 5.78 days per 1,000 metres. Drilling horizontally branched wells facilitates a manifold increase in production from disjointed low-permeability strata, …