Bashneft: 2014 Reserve Replacement Ratio Totals 179%
JSOC Bashneft has announced the results of the latest independent audit of hydrocarbon reserves conducted by Miller and Lents, Ltd. in accordance with the PRMS classification (Petroleum Resources Management System). The auditor has evaluated reserves at 190 oil and gas condensate fields of the Company in the Volga-Urals, West Siberian …
Igor Sechin Reported on Rosneft 2014 Operational Results to Vladimir Putin
The President of the Russian Federation Vladimir Putin held a working meeting on Wednesday with the Head of Rosneft Igor Sechin, who reported on the Company’s 2014 operational results to the President of the country. The overall hydrocarbons production at year-end was approximately 252 mln toe, which is amounts to …
LUKOIL: Approves Board Candidate List
The Board of Directors of OAO LUKOIL approved lists of candidates for election of the Board of Directors and the Audit Commission at the 2015 Annual General Shareholders Meeting. The list of candidates is based on the nominees put forward by shareholders who own at least two percent of the …
Ruspetro: Sergey Gordeev Joins Board as Tom Reed Departs
Ruspetro plc. announces that, under the terms of its Relationship Agreement with Mastin Holdings Limited, the Board of Directors has approved the nomination of Mr Sergey Gordeev as a Non-executive Director of the Company. Mr Gordeev’s appointment is effective immediately. Mr Gordeev is President and CEO of PIK Group OJSC, …
Gazprom Neft: Production Volumes Replaced Five Fold
As at 31 December 2014 Gazprom Neft’s total proved and probable (2P) hydrocarbon reserves (including the Company’s share in joint ventures*) by international SPE-PRMS** standards amounted to 2.55 billion tonnes of oil equivalent. This represents an 11.5% or 263 million tonnes increase over 2013’s figures. Gazprom Neft’s production volumes in …
BP Reports Fourth Quarter and Full Year 2014 Results
BP today reported its results for the fourth quarter and full-year 2014. Underlying replacement cost profit1 for the fourth quarter was $2.2 billion compared with $2.8 billion for the same period in 2013. Full year underlying replacement cost profit was $12.1 billion compared with $13.4 billion reported for 2013. – …
Petroneft: Completes First Tungolskoye Horizontal Well
PetroNeft an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, is pleased to provide an update on operations at Licence 61. Highlights Tungolskoye Tungolskoye No. 5 well tested at over 600 bopd and is now in production Development of Tungolskoye to proceed immediately 11 …
ERIELL Signed a 9-year Contract for Drilling in Novy Port
ERIELL, an international oilfield service group, has won a JSC Gazprom Neft Novy Port tender for drilling of 136 producing wells in Yamal Peninsula, Russia. The term of the contract is 9 years. “ERIELL Group focuses on establishment of long-term relations with its partners. The Novy Port project has become …
Roxi Petroleum: Proposed Sale of the Galaz Contract Area
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news of progress concerning the possible sale the Galaz Contract Area in which it holds an interest of 34.22 per cent. Further to the announcement of 8 January 2015, Roxi …
Novatek: Reserve Replacement Running at 109%
OAO NOVATEK announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2014. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 12,578 million barrels of oil equivalent (boe), including 1,747 billion cubic …