Oil & Gas Operators

ConocoPhillips today announced the retirement of Jeff Sheets as executive vice president, Finance and chief financial officer after more than 35 years with ConocoPhillips. In conjunction with Sheets’ retirement, the company also announced several executive leadership changes to realign responsibilities. The executive leadership changes are summarized below: Don Wallette, Jr., …

U.S. energy company ExxonMobil has closed one of its offices in Azerbaijan, the country’s tax ministry said on Wednesday, the result of a delayed oil project. The office was linked to an oil production project on the Araz-Alov-Sharg oilfields in the Caspian Sea. The project is frozen until a decision …

As at 31 December 2015 total proved and probable (proved + probable — 2P,* SPE-PRMS international standards**, including those held by joint enterprises*) hydrocarbon reserves at Gazprom Neft totalled 2.7 billion tonnes of oil equivalent (Gtoe) — an increase of 143 million tonnes (5.6 percent) year-on-year. On that basis, new reserves (at 79.7 mtoe) indicate a reserve-replacement ratio of 279 percent. Proved reserves (proved, 1P) at the end …

More info will follow shortly.  PJSC Tataneft and OAO NOVATEK have confirmed their involvement in the RDCR drilling event, running on the 13th of April in Moscow www.rdcr.net Tatneft will take an active part in the roundtable sessions. Novatek have confirm the following companies will attend: NOVATEK NOVATEK-Yurkharovskneftegaz Yamal LNG Arctic LNG 1 …

TATNEFT has reorganized the drilling service and set up a Drilling Operations Control Center. To improve the well construction management efficiency the Company has changed the scheme of drilling operations organization. The Drilling offices of the Oil and Gas Producing Divisions (NGDUs) are being centralized in a single service of …

JSC KazMunaiGas Exploration Production announces the results of exploration activities at the north-eastern flank of S. Nurzhanov field, Liman and Akkuduk blocks. While testing the productive Triassic reservoir of the directional well drilled in 2015 at the   north-eastern flank of S. Nurzhanov field, the well flowed at a rate …

The Board of Directors addressed the issue of electing Gazprom Management Committee Chairman and unanimously decided to re-elect Alexey Miller as Gazprom Management Committee Chairman for a 5-year term starting from May 31, 2016.

The Board of Directors took note of the information about the influence of the Gazprom Innovative Development Program until 2020 on the Company’s economic performance indicators and about the efficiency of spending funds allocated for research and development (R&D) activities. Gazprom is a high-tech company, investing heavily in research and development of unique, often unparalleled in the world, solutions. Once tested, they …

The Gazprom Board of Directors approved an updated list of measures aimed at increasing the Company’s share in the global gas market. It was noted that amidst the industry-wide changes the updating of this document had an important role to play for the successful business development of Gazprom as a global energy company. The updated list suggests more precise definition of the Company’s business areas, …

The cost optimization strategy is focused around several key areas: generation of the Investment Program and the Budget, development and execution of the cost reduction program, implementation of cost optimization plans by types of activity and procurement of goods, works, and services. At the budgeting stage, Gazprom optimizes a number of expenditure items by using a standard setting approach, determining specific cost …