LUKOIL: Spuds First Development Well at the Vladimir Filanovsky Field
Today President of PJSC LUKOIL Vagit Alekperov and Governor of the Astrakhan Region Alexander Zhilkin visited Vladimir Filanovsky field in the Caspian Sea where development drilling has just begun. The well is being drilled from an ice-resistant fixed platform (LSP-1). First commercial production at the field is scheduled for the …
Gazprom and LUKOIL Continuing Strategic Co-operation
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, took place at the Company’s headquarters today. The parties noted the strategic nature of the companies’ cooperation. The topics covered at the meeting included the implementation of the long-term contract for purchasing …
$2 BLN for RussNeft
Mikhail Gutseriev’s oil company plans IPO at Moscow Exchange. According to RBC information, RussNeft oil company, owned by Mikhail Gutseriev and his family, intends the IPO with the listing of 25 to 49% of shares by the end of the year at Moscow Exchange. PLANNING THE TRANSACTION Mikail Shishkhanov, B&NBANK President …
Rosneft: Financial results for Q1 2016
Generating FCF at RUB 80 bln, high operating cash flow at RUB 234 bln, with average Urals price at 32 USD/bbl Increase in EBITDA margin up to 26% in conditions of crude oil price decline Decrease in lifting costs per unit by 1.3% to 155 RUB/boe with CPI exceeding 7% …
LUKOIL Published IFRS Consolidated Financial Statements for 1Q 2016
Today LUKOIL published IFRS consolidated financial statements for 1Q 2016. Revenue was RUB 1,178 bln, EBITDA was RUB 145 bln, Profit for the period was RUB 43 bln. Excluding FX effect, EBITDA and Profit for the period were RUB 191 bln and RUB 79 bln, respectively. Capital expenditures for 1Q …
TATNEFT: Figures Demonstrating Results of Operations in May and during Five Months of 2016
Crude Oil Production In May 2016 TATNEFT Group enterprises produced 2,381,642 tonnes of crude oil (104.6% versus May 2015, +105 919 tonnes) with the five months volume amounting to 11,596,296 tonnes (105% versus 2015, + 555,242 tonnes). The production volume of PJSC TATNEFT amounted to 2,352,747 tonnes of crude oil …
SPD Updated the West Salym Oilfield Licence
Salym Petroleum Development (SPD) updated the terms of the license agreement for the West Salym oilfield. Pursuant to addendum to the document, SPD extended validity of the license until 31 December 2130. “For the first time in Russia’s oil industry, a joint venture with foreign participation obtained from the state a guaranteed right …
Surgutneftegas: Operating Results for Five Months of the Current Year
In January-May 2016, Surgutneftegas produced 25.525 million tonnes of crude oil. For the year to date, crude output in the Republic of Sakha (Yakutia) equaled 3,593.7 thousand tonnes, 4% up versus five months of the last year. In January-May 2016, gas production in Surgutneftegas amounted to 4,099 million cubic meters. For …
2nd KDR – Turkuaz & MTU Confirm Gold, Weatherford Confirm Silver
As the largest gathering of drilling professionals in Kazakhstan, the 2nd KDR is a must attend event if you are involved in the Kazakh drilling market. Organized in partnership between TMG Worldwide and JSC NC KazMunayGas, the 1st KDR attracted over 180 delegates from more than 100 separate companies. The …
PetroNeft Resources: Arbuzovskoye Horizontal Flowing at 800 bopd
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 an update on operations at Licence 61. Highlights Production Current gross production from Licence 61 is about 3,000 bopd …