Novatek: 2015 Results – Gas Production Up 9.3%
OAO NOVATEK reported today preliminary operating data for the fourth quarter and full year 2015. In the fourth quarter 2015, NOVATEK’s marketable production totaled 17.80 billion cubic meters (bcm) of natural gas and 2,559 thousand tons of liquids (gas condensate and crude oil). The Company’s full year 2015 marketable production …
Petrosibir: Produces 31340 Barrels in December
Petrosibir’s total oil production in December 2015 amounted to 31,340 barrels, equivalent to 1,688 barrels per day. The table below summarizes the production broken down by region. Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a production license in Bashkiria. Petrosibir owns 49% of the Cypriot company …
Novatek: Yarudeyskoye Reaches Full Capacity
OAO NOVATEK announced today that the Yarudeyskoye oil field has reached its planned production capacity of 9,700 tons of crude oil per day, which is equivalent to approximately 3.5 million tons per annum. Twenty-four production wells are currently in operation at the field with average flow rate exceeding 400 tons …
Turkmenistan: Forms National Oil Company – Turkmen National Oil and Gas Company, NAPECCO
President of Turkmenistan Gurbanguly Berdimuhamadov signed a decree, according to which it is planned to form a closed joint stock company “Türkmen Milli nebitgaz kompaniýasy” (“Turkmen National Oil and Gas Company” – NAPECCO “). According to the document, this decision serves the purpose of successful implementation of the task of …
Statoil: Signs Subsea Agreements with Aker Solutions and OneSubsea
Statoil Petroleum AS has signed Master Service Agreements with Aker Solutions ASA and OneSubsea Processing AS. The agreements signed form the basis for potential new EPC contracts (engineering, procurement and construction) for subsea equipment in the medium term future. An EPC option agreement for subsea production system (SPS) has also …
Condor Petroleum: Acquires Marsa Energy
Condor Petroleum Inc. and Marsa Energy Inc. are pleased to announce that they have entered into an agreement (the Arrangement Agreement) that provides for the acquisition of Marsa by Condor, to create a well-capitalized company with significant exploration and development assets. The acquisition will be effected by way of a …
Rosneft: ONCG Videsh Takes 15% of Vankorneft
Rosneft and ONGC Videsh Limited signed an Agreement of Confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC “Vankorneft”. The document was signed in the presence of the President of Russia Vladimir Putin and the Prime Minister of …
Rosneft, Oil India and Indian Oil Corporation Signed a MoU For Taas-Yuryakh Neftegazodobycha
Rosneft, Oil India Limited and Indian Oil Corporation Limited signed a Memorandum of Understanding for cooperation for geologic survey, exploration and production of hydrocarbons onshore for Taas-Yuryakh Neftegazodobycha. The document was signed in the presence of the President of Russia Vladimir Putin and the Prime Minister of India Narendra Modi …
ConocoPhillips Exits Russia
U.S. oil and natural gas producer ConocoPhillips sold its stake in a joint venture with Russian state oil company Rosneft, exiting the country after more than 25 years, the Financial Times reported. The exit from Russia comes about five years after ConocoPhillips sold its biggest sole asset in Russia, a stake …
Gazprom and CNPC Sign Power Of Siberia Agreements
Alexey Miller, Chairman of the Gazprom Management Committee and Wang Yilin, Chairman of the Board of Directors of CNPC signed today in Beijing an Agreement to design and construct the cross-border section of the Power of Siberia gas pipeline, including its submerged crossing under the Amur River. Besides, a Memorandum of Understanding in the oil sector was entered into by Gazprom Neft and CNPC. The …