Petrosibir: Production Report for April 2016 – 1,381 bpd
Petrosibir’s total oil production in April 2016 amounted to 41,440 barrels, equivalent to 1,381 barrels per day. The table below summarizes the production broken down by region. * On 16 December 2015 Petrosibir acquired its 49% share of the Komi operations. The tables for the full year 2015 therefore only …
RN-Burenie: Spins Bit for RN-Sakhalinmorneftegaz at the Lebedinskoye Field
Rosneft commenced operational drilling at the Lebedinskoye oil and gas condensate field in the Sea of Okhotsk. It will drill a 5.3 km long horizontal extend-reach well under the bottom of the Sea of Okhotsk. Drilling operations are carried out by the drilling contractor RN-Burenie for RN-Sakhalinmorneftegaz, a Rosneft subsidiary. …
Novatek: Yamal LNG Over 50% Complete
Novatek deputy chairman and CFO Mark Gyetvay said the Yamal LNG project in Russia have now passed the 50 percent overall completion mark. Gyetvay noted that 100 percent of the Yamal LNG’s production capacity has been sold. Additionally, he confirmed the first cargo from Yamal LNG’s first train, which has …
Rosneft Trading: Delivers First LNG Shipment to the Egyptian Natural Gas Holding Company
Rosneft Trading SA, a company of Rosneft Group, delivered its first LNG shipment as part of its contract with Egyptian Natural Gas Holding Company. The delivery of the cargo was made by the GOLAR ICE tanker to the Ain Sukhna port within the Master LNG Supply and Purchase Agreement signed …
Petrosibir: Appoint Nikolay Millionshchikov as Acting CEO
The Board of Petrosibir has appointed Nikolay Millionshchikov acting CEO of Petrosibir. Petrosibir has previously announced that Dmitry Zubatyuk has decided to resign as CEO. The Board has appointed Nikolay Millionshchikov acting CEO of Petrosibir. Nikolay Millionshchikov assumes the position on 9 May 2016. The Board will leave it to …
SPD Will Carry Out Geological Exploration of Yuzhno-Yamskoy Area
Salym Petroleum Development (SPD) obtained the license for geological exploration on Yuzhno-Yamskoy area in Khanty-Mansi Autonomous Okrug – Yugra. Term of the license is 5 years with an opportunity for extension of the geological survey phase. In case a deposit is discovered, SPD will be guaranteed to obtain the exploration …
Statoil: Swaps Edvard Grieg Field for Further 15% of Ludin Petroleum
Statoil ASA has entered into an agreement with Lundin Petroleum AB (Lundin Petroleum) to divest its entire 15 percent interest in the Edvard Grieg field for an increased shareholding in Lundin Petroleum. The transaction also includes divestment of a 9 percent interest in the Edvard Grieg Oil pipeline and a …
Gazprom: Discusses Nord Stream 2 and Sakhalin II Trains with Shell
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Shell, took place in St. Petersburg today. The parties addressed the prospects for collaboration between the companies under the Agreement of Strategic Cooperation. An emphasis was placed on a potential …
Halliburton and Baker Hughes: Terminate Merger Agreement – BH to Receive $3.5bn
Halliburton Company and Baker Hughes Incorporated today announced that the companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016. “While both companies expected the proposed merger to result in compelling benefits to shareholders, customers and other stakeholders, challenges in obtaining remaining regulatory approvals …
Baker Hughes: The Path Forwards – Buy Back $1.5bn in Shares and $1bn in Debt
Following the termination of its merger agreement, Baker Hughes Incorporated today outlined a series of actions to reduce costs and simplify its business, enhance its commercial strategy, and optimize its capital structure. – To reduce costs by simplifying its organization and rationalizing its operational footprint – Commercial strategy focused on …