Oil & Gas Operators

Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce the following update on its operations at ArticNeft and Petrosakh as well an update on the litigation: ArticNeft Perforation of four wells of its six well work over programme has been successfully completed. …

JSOC Bashneft and Yokogawa Electric Corporation have signed a Long-Term Partnership Agreement on supplying production facilities of the refining complex in Ufa with Automatic Process Control Systems (APCS) and Instrumentation and Control Equipment (I&C). The document was signed by Alexander Korsik, President of JSOC Bashneft, and Shuzo Kaihori, Chairman and …

JSOC Bashneft and Yokogawa Electric Corporation have signed a Long-Term Partnership Agreement on supplying production facilities of the refining complex in Ufa with Automatic Process Control Systems (APCS) and Instrumentation and Control Equipment (I&C). The document was signed by Alexander Korsik, President of JSOC Bashneft, and Shuzo Kaihori, Chairman and …

The recent changes in the taxation of Russia’s oil and gas sector reflect both the country’s pivot eastward and the special treatment afforded to its state-controlled energy companies, says an analyst with research and consulting firm GlobalData. Russia’s recent fiscal changes shift the tax burden from export duty on oil …

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 …

Today Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (IAS 34) for the nine months ended September 30, 2014. The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS for the nine months ended …

Today Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (IAS 34) for the nine months ended September 30, 2014. The table here presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS for the nine months ended September …

We are pleased to be able to announce that Russia’s premier unconventional oil event, UOR, Unconventional Oil Russia Technology Conference, is returning for its second year. The 2nd UOR will take place on the 21st May 2015 in Moscow at the Baltschug Kempinski Hotel. With the falling oil price, western sanctions …

The transportation of six 13MW gas-turbine power units to the Vostochno-Messoyakhskoye field, for construction of a gas-turbine thermal power plant (GTPP), has now begun. The equipment is currently in Novy Urengoy, from where it will be transported (on winter roads) for installation on pre-prepared foundations. The GTPP will be brought into operation in 2016, following construction of the turbine hall and all auxiliary …

The LUKOIL Board of Directors held a meeting in Moscow today to summarize the preliminary results of the company performance in 2014 and set priorities for 2015 and the near term. In 2014, as a result of prospecting, 14 fields were discovered, while 38 oil deposits were identified in the …