Rosneft Finished Geologic Exploration in Barents Sea
Rosneft has finished performing comprehensive geophysical exploration, including seismic data acquisition 3D and gravimagnetic survey on the West-Prinovozemelsky licensed site on the continental shelf of the Barents Sea. The scope of work totaled 2.8 thousand square km. The specialized scientific research vessel «Geo Caribbean» was used to conduct works. As …
Rosneft and CNPC Strengthen Strategic Cooperation
Rosneft and Chinese National Petroleum Corporation (CNPC) signed an agreement for the extensions of strategic cooperation. The document was signed by Rosneft Head Igor Sechin and CNPC Vice President Wang Dongjin. The signing ceremony was led by the Prime Minister of the Russian Federation Dmitry Medvedev. The agreement envisages elaboration …
Venezuela Ordered to Pay ExxonMobil $1.6bn Over Nationalization – Both Sides Claim Victory
A World Bank arbitration tribunal on Thursday ordered Venezuela to pay ExxonMobil Corp about $1.6 billion to compensate for oil nationalization in 2007, though state oil company PDVSA expects to eventually pay closer to $1 billion. Venezuela’s socialist government hailed the long-awaited decision as a victory for its “sovereignty,” given …
Exillon Energy: Produces Average of 17,470 bbl/day in September
Exillon Energy plc, a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), is pleased to announce unaudited production data for the month of September 2014 (“the Period”). · Our average daily production[1] was 17,470 bbl/day during the …
Novatek: Natural Gas Production Up 2.3%, Gross Liquid Production Up 21.9%
OAO NOVATEK reported today preliminary production data for the third quarter and nine months 2014. In the third quarter 2014, NOVATEK’s gross production totaled 15.58 billion cubic meters (bcm) of natural gas and 1,535 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 1.05 …
Tatneft: Results for the First 9 Months of 2014
Crude Oil Production In September the amount of 2,161,272 tons of crude oil or 100.6 percent versus September 2013 was produced at JSC TATNEFT, while the production since the beginning of the year amounted to 19, 602,785 tons, which was 84,456 tons more than in 2013 (100.4%). The amount of …
Zoltav Resources: Bortovoy Licence – New Gas Field Increases West Gas Plant Production
Zoltav, the CIS-focused oil and gas exploration and production company, provides an operational update regarding the Bortovoy Licence in the Saratov Oblast of the Russian Federation. Zoltav’s main priority since the acquisition of the Bortovoy Licence in June 2014 has been to restore the Western Gas Plant to its full …
Verkhnechonskneftegaz: Achieves Record Daily Oil Output
OAO Verkhnechonskneftegaz finished construction of oil treatment plant (UPN-1), as a result its daily oil output reached 22.5 thousand tons. This is the highest rate of the Verkhnechonskoye field since the start of its commercial operation. The reconstruction of UPN-1 allowed boosting the plant’s capacity by 25% – up to …
Lukoil Brings the Imilorskoye Field in Western Siberian Into Operation
Arkady Dvorkovich, Deputy Chairman of the Russian Federation Government, and Vagit Alekperov, OAO LUKOIL President, participated in the official commissioning of Imilorskoye Field today. As part of the operations at the Imilorsko-Istochny license block, construction has thus far included several dozen kilometers of pipelines, site-access roads, power-transmission lines, a 74-meter …
Surgutneftegas: Production Up 9% yoy
In January-September 2014, Surgutneftegas produced 45,916.7 thousand tonnes of crude oil. For the year to date, crude output in the Republic of Sakha (Yakutia) equaled 5,702.3 thousand tonnes, 6% up versus nine months of the last year. In January-September 2014, overall gas production amounted to 6,942.8 million cubic meters. For …