Johan Sverdrup on track
3. November 2014 The environmental impact assessment for the gigantic Johan Sverdrup project shows that the project is proceeding as planned. Generating revenues amounting to NOK 1 350 billion over a lifetime of 50 years, this will be one of the most profitable projects on the Norwegian shelf. …
Maersk Interceptor to Ivar Aasen
Maersk Interceptor is the name of the rig to be used on the Ivar Aasen field, a field operated by Det norske oljeselskap ASA. Anita Utseth, Offshore Installation Manager at Ivar Aasen, had the honor of naming the rig in Stavanger today. Anita was pleased to be part of …
UNEPCOM endorsed initiative of Rosneft and Russian Geographical Society
The Russian National Committee for UNEP (UNEPCOM) endorsed the initiative of Rosneft and the Russian Geographical Society to elaborate interdisciplinary scientific program for comprehensive Arctic research. This program will help to set out the principles of special economic activity regulations in the region, including clear ecological rules of shelf development. …
Urals Energy: Wins Appeal on $41.6m Debt Claim by UEN Cyprus
The Board of Urals Energy, the independent exploration and production company with operations in Russia, announces that it has received notification from the Moscow Court of Cassation (the 2nd level appeal court in Moscow) that the Company has won its case concerning Urals Energy’s appeal against the ruling of the …
Rosneft and PDVSA Signed a Second Long-Term Contract for Supplies of Oil and Oil Products
Rosneft Group and PDVSA signed a long-term contract for supplies of oil and oil products of Venezuelan production. The document envisages the supplies of over 1.6 mln t of oil and 9 mln t of oil products to the Rosneft Group within 5 years. Commenting on the signing Rosneft Head …
Pacific Energy Development Provides Update on Kazakhstan Asset and East Zhagabulak
PEDEVCO Corp. d/b/a Pacific Energy Development, an energy company engaged in the acquisition and development of strategic, high-growth energy projects, today provided an update on the Company’s pending acquisition of a 5% interest in Caspian Energy Inc. (“Caspian Energy”), a Canadian publicly-traded company which is in the process of acquiring …
Halliburton and Baker Hughes Reach Agreement to Combine in Stock and Cash Transaction Valued at $34.6 Billion
Halliburton Company and Baker Hughes Incorporated today announced a definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78.62 per Baker Hughesshare, representing an equity value of $34.6 billion and enterprise value of $38.0 …
Ruspetro: Refinances $337.2m USD of Debt to Execute Next Phase of Horizontal Drilling
The Directors of Ruspetro announce the terms of Ruspetro’s proposed Restructuring. The principal components of the Restructuring comprise: The refinancing of approximately US$337.2 million of existing debt and the cancellation of the existing Put Option over the Company’s shares for £12.6 million (approximately US$20.2 million). This will be satisfied in …
Gazprom Neft: Third Oil Shipment from the Prirazlomnoye Field Delivered to Europe
The Mikhail Ulyanov tanker has delivered the third shipment of Arctic oil (ARCO) produced at the Prirazlomnoye field to consumers in northwestern Europe. Crude shipments from the field totalled approximately 200,000 tonnes in 2014. A fourth tanker is expected to be loaded with the new oil before the year-end. Prirazlomnoye …
Igor Sechin Held Talks With Rafael Ramirez
Rosneft Head Igor Sechin held negotiations with the Vice-president for political issues, Minister of Foreign Affairs of Venezuela Rafael Ramirez in Moscow. During the meeting a wide range of issues pertaining to current cooperation and Rosneft’s operations in Venezuela, as well as prospects for developing new projects were discussed. The …