EU Commission Approves Creation of Joint Venture “OneSubsea” by Cameron and Schlumberger
The European Commission has approved under the EU Merger Regulation the proposed creation of a joint venture combining the subsea businesses of Cameron of the US and Schlumberger of the Netherlands. Cameron manufactures and supplies technical products for the oil and gas industries, such as drilling systems, valves, etc. Schlumberger …
Cadogan Petroleum Plc: GPS Litigation Update
Further to the announcement of 16 April, Cadogan Petroleum Plc is pleased to confirm completion of the sale of the gas plants referred to therein, following receipt in full of the agreed consideration of $29.5 million. In accordance with the terms of the settlement documentation, the parties are now taking appropriate …
Bashneft’s financial results hit a record high in 2012
In 2012 Bashneft demonstrated a consistent improvement of its financial results. In 2012 the Group’s revenue from sales increased by 9.5% year-on-year and amounted to 532,502 million roubles. EBITDA added 5.2% and reached 98,690 million roubles. In 2012 net income attributable to the shareholders of the parent company totalled 52,088 million roubles, which is 4.5% higher than in 2011. The growth of revenue, EBITDA and …
Slavneft: Q1 Production at 4.23 million Tons of Oil
From January to March 2013, Slavneft’s entities produced 4.23 mln tons of oil and 207.2 mln cubic meters of gas. As compared to the same period of 2012, oil production reduced by 5.5% and gas production – by 3.8%. From the beginning of year, the drilling meterage amounted to 189.2 …
Drilling Industry Gathers at the 1st RDCR in Moscow
The 1st Russian Drilling Contractors Roundtable was held last week at the Swissotel Krasnye Holmy in Moscow and was an overwhelming success for everyone involved. The event saw over 190 delegates attend in total, with over 115 of those being made up of delegations from 12 of Russia’s leading drilling …
Max Petroleum: ZMA-A24 Strikes Hydrocarbons
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, today announces that the ZMA – A24 development well in the Zhana Makat Field has successfully reached a total depth of 871 metres, encountering hydrocarbons in Jurassic sandstone reservoirs in line with expectations. The Company plans …
Gazprom and Japanese Agency for Natural Resources and Energy address Investment Rationale for Vladivostok-LNG project
Fukui (Japan) hosted today the eighth meeting of the Joint Coordinating Committee (JCC) between Gazprom and the Agency for Natural Resources and Energy (ANRE) under the Japanese Ministry of Economy, Trade and Industry. The meeting was chaired by the JCC Co-chairmen – Vitaly Markelov Deputy Chairman of the Gazprom Management Committee and Hisayoshi Ando, Head of the Natural …
KazMunaiGas: Holds Board Meeting and Elects Board of Directors
JSC KazMunaiGas Exploration Production held an Extraordinary General Meeting of shareholders on April 16, 2013, where the new Board of Directors of the Company was elected for the term of one year. The following members were elected to the Board of Directors: • Lyazzat Kiinov – Chairman of the Board …
Geological Conference at Tatneft
A scientific and practical conference “History and prospects of Tatarstan oil fields development” dedicated to the 70th anniversary of the oil fields development in Tatarstan was held at JSC TATNEFT. The event was attended by geologists and senior experts in geology, geophysics and development of oil and gas fields of …
TMK and Skolkovo Fund Sign Agreement to Establish R&D Centre
TMK, a leading global manufacturer of tubular products for the oil and gas industry, has signed an agreement with the Skolkovo Fund (the “Fund”) to open its research and development facility in the Skolkovo Innovation Centre. The agreement was signed by Dmitry Pumpyanskiy, Chairman of TMK’s Board of Directors, and …