NOVATEK: Significant Reserves Confirmed at the Kharbeyskoye Field
PAO NOVATEK announced a significant increase in reserves of natural gas, gas condensate and crude oil as a result of exploration works performed in 2017 at the Kharbeyskoye field located in the Tazovskiy District of the Yamal-Nenets Autonomous Region. Upon testing of the exploration well #305, a flow of oil …
Russia-China-Led Group To Acquire Eurasia Drilling Stake
The Russia-China Investment Fund (RCIF) leads a consortium that will acquire a 16.1 percent stake in Russia’s Eurasia Drilling Company (EDC), a Russian fund involved said. RCIF involves the Russian Direct Investment Fund (RDIF) and China Investment Corporation. The consortium also includes funds from the Middle East whose names have …
Rosneft and National Iranian Oil Company Sign Oil and Gas Strategic Cooperation Agreement
During the visit of the Russian President Vladimir Putin to the Islamic Republic of Iran Rosneft Oil Company and National Iranian Oil Company signed the “Road Map and Key Terms of Strategic Cooperation in the Field of Oil and Gas”. This document confirms the parties high level of interest in …
The Gazprom Neft Board of Directors Considers Priority Projects and Tools in Upstream Technological Development
the Gazprom Neft Board of Directors has reviewed information on priority projects and tools for technological development in exploration and production. Managing innovation within the Upstream Division has, since 2014, been based around Gazprom Neft’s Technology Strategy. Eighty-four projects are currently being implemented under this strategy, across nine technological areas, including enhanced oil recovery …
Russia’s Novatek, China’s CNPC Sign Cooperation Agreement
Russian company Novatek signed an agreement on strategic cooperation with China National Petroleum Corporation (CNPC). In addition, Novatek and the China Development Bank have signed a memorandum of understanding on broad cooperation. Following the results of Russian-Chinese intergovernmental negotiations, a framework loan agreement was signed between Vnesheconombank and the Export-Import …
Urals Energy: Loads Tanker, South Dagi – Prepping Pad for Operations
Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to provide the following operational updates: Tanker loading The loading of the second annual tanker shipment for export from Arcticneft on Kolguyev Island has been successfully completed. The tanker has been loaded with 23,951 …
MarketLine: Global O&G Market Shrinks by 16% in 2016
MarketLine’s latest market report: ‘Global Oil & Gas’ reveals a declining market trend in 2016 as the price of crude oil pushed down profits of the major players. Overall the global oil & gas market saw its value fall from $1,395.7 billion in 2015 to $1,205.6 billion in 2016. Commenting …
Caspian Sunrise: Happy to Receive 6 Year Appraisal License for BNG
Caspian Sunrise PLC (AIM:CASP) (“Caspian Sunrise”), the Central Asian oil and gas company, with a focus on Kazakhstan, is pleased to update the market with news of the extension of its licence at its flagship BNG Contract Area. BNG licence renewal Caspian Sunrise has a 99% interest in the BNG …
Tatneft: Holds Regular Board Meeting
A regular meeting of the TATNEFT Company’s Board of Directors chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in the city of Kazan on October 26, 2017. They considered the budget execution results for nine months of 2017 at the meeting and approved the budget for …
Lukoil NVN: Completes 8th Well at the Vladimir Filanovsky Field
PJSC LUKOIL has completed the drilling of its eighth well at Vladimir Filanovsky field in the Caspian Sea. This is a horizontal producing well. The length of its horizontal section is 1,560 meters and a well flow reaches 2.8 thousand tonnes per day. As a result, the project’s total production …