Oil & Gas Operators

Gazprom Neft has completed auditing of the company’s hydrocarbon reserves as at 2017. As at 31 December 2017 the company’s total proved and probable hydrocarbon reserves (proved + probable — 2P based on SPE-PRMS international standards,* including proportional shares in production at joint enterprises**) totalled 2.78 billion tonnes of oil equivalent (toe) — a year-on-year increase of 2.3 percent. Production volumes in 2017, at 89.75 mtoe, were compensated by reserves replacement in the …

A working meeting took place today between Vladimir Putin, President of the Russian Federation, and Alexey Miller, Chairman of the Gazprom Management Committee. Alexey Miller briefed Vladimir Putin on the major achievements of the Company over the past 25 years and on the progress of the strategic projects. Russian President offered his congratulations to the staff of Gazprom. In the course …

Gazprom Neft subsidiary Gazpromneft-Razvitiye has completed construction of the first production well since obtaining its licence for the Tazovskoye field. The total length of the new high-tech well runs to 3.9 kilometres, 1.9 kilometres of this comprising the horizontal section. Initial production at the well is in excess of 100 tonnes per day. Data obtained as a result of drilling has allowed the geological model …

PAO NOVATEK won the open auction to acquire a 100% stake in Maretiom Investments Limited (owns 100% equity share in Geotransgaz) and 100% of Velarion Investments Limited (owns 100% participating interest in Urengoy Gas Company) from ALROSA. The acquisition price following the auction amounted to RR 30.3 billion. Geotransgaz holds …

Kashagan, Tengiz and Karachaganak account for 75% of all oil and gas service contracts in Kazakhstan By Kulpash Konyrova Industry leaders like US giants Chevron and ExxonMobil, Russia’s LUKoil and China’s CNPC carry out massive oil production operations in Kazakhstan, investing billions of dollars and employing up to 17,000 people …

PAO NOVATEK (“NOVATEK” and/or the “Company”) signed a Memorandum of Understanding (MOU) with Saudi Aramco, the Saudi Arabian National Oil Company. According to the MOU, the parties agreed to collaborate internationally on natural gas projects, including LNG supplies, development of LNG markets, gas exploration and production projects, as well as research …

Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Andrey Komarov, Chairman of the Board of Directors of ChelPipe, today signed at the Russian Investment Forum in Sochi a roadmap for the development and batch production of pipes for offshore projects. In accordance with the document, ChelPipe will adopt the technology to produce pipes from the 25Cr Super Duplex …

Exploration & Production Hydrocarbon production at record level: –  reached 1.92 million boe/d in December 2017, marking an all-time high for Eni; –  produced an average of 1.89 million boe/d in the fourth quarter, the highest quarterly production in the last seven years (up by 1.9%); FY production averaged 1.82 …

LUKOIL has reached another milestone with one million tonnes of oil produced at Yarega field, in the Komi Republic, since the beginning of 2017. The company plans to increase Yarega’s production by 20%, as compared with 2016. The meterage of horizontal wells, drilled with steam-assisted gravity drainage, will be increased …

The LUKOIL Group’s hydrocarbon production excluding West Qurna-2 project in the fourth quarter of 2017 increased by 2.9% quarter-on-quarter to 2,284 thousand boe per day. The increase was driven by the development of gas projects. In 2017 production increased by 2.4% year-on-year to 2,234 thousand boe per day.   Hydrocarbon …