EDC Announces New LUKOIL Framework Agreement
Eurasia Drilling Company Limited announced today that it has signed a new long-term framework agreement for onshore drilling and completion operations with OAO LUKOIL. The new framework agreement, which concludes on December 31, 2015, defines pricing methodology and minimum work volumes (metres drilled) for exploration and production drilling in Russia. …
Eurasia Drilling Signs new LukOil Contract with Net Income Up 35%
Russia’s top oilfield services company Eurasia Drilling (EDC) said on Tuesday its 2012 net income jumped 35 percent, year-on-year, to $382 million on strong demand from oil firms fighting output declines at depleted fields. * Net income rises 35 pct to $382 mln in 2012 * EBITDA up 31 percent …
Max Petroleum: Further Success at Zhana Makat ZMA-A22
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, today announces that the ZMA-A22 development well in the Zhana Makat Field has successfully reached a total depth of 1,363 metres, encountering hydrocarbons in Jurassic and Triassic sandstone reservoirs in line with expectations. The Company plans …
Tethys Petroleum: Financial Results – First Cash Profit
Tethys Petroleum Limited today announced its Annual Results for the period ended December 31, 2012. The financials are highlighted by a 66% increase in annual oil and gas revenue and the first year in which the Company has generated a cash profit.(1) Financial Highlights Oil and gas sales of USD38.11 …
Hess Confirms Sale of Samara-Nafta to LukOil
Hess Corporation announced today it has entered into an agreement with OAO LUKOIL to sell 100 percent of its Russian subsidiary Samara-Nafta for a total consideration of $2.05 billion. Based on its 90 percent interest in Samara-Nafta, total after tax proceeds to Hess are expected to amount to approximately $1.8 …
LUKOIL Acquires 100% OF Samara-Nafta
LUKOIL and the owners of ZAO Samara-Nafta signed a purchase and sale agreement for 100% of the shares of ZAO Samara-Nafta, the oil producing company in Samara and Ulyanovsk regions of the Russian Federation. The oil production rate comes to around 2.5 million tons of oil per year. The company …
Rosneft Launches Training Program for Offshore Drilling Supervisors
The new qualification which is unique for Russia is available for the staff of Rosneft subsidiaries through the professional training program. The company is a leading subsoil user on the Russian shelf. According to independent experts, the company’s license blocks hold over 275 bln boe of recoverable resources. Offshore drilling …
Igor Sechin Begins Examining TNK-BP Assets with Samotlor Field
Rosneft President and Chairman of the Management Board Igor Sechin is on a working visit to Nizhnevartovsk, where he gets acquainted with the facilities of Samotlorneftegaz, the biggest production asset of TNK-BP. Rosneft completed TNK-BP acquisition last week. Rosneft delegation includes First Vice President Eduard Khudaynatov, Vice President for Production …
Max Petroleum: Closing of Second Tranche of Sberbank Facility
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has completed the closing of the final US$30 million tranche of its senior credit facility with SB Sberbank JSC, allowing the Company to draw down the entire US$90 million in …
RDCR Event Sold Out and Closed for Sponsors and Non Drilling Contractor Delegates
Russian Drilling Contractors Roundtable, April 11th 2013, Moscow. The RDCR currently has the vast majority of Russian Drilling contractors attending the event, and are pleased to announce that C.A.T A.G. has joined the list of participating companies. As previously reported the demand for delegate tickets has been huge. Unfortunately we …