JewelSuite 3D Geomechanics Software Delivers Full-Field 3D Complex Reservoir Models
High-resolution 3D capabilities enrich field development strategies Baker Hughes has announced the availability of its JewelSuite™ 3D geomechanics software system, designed to promote better complex field development strategies by enabling users to quickly and accurately predict full-field geomechanical behavior under drilling, stimulation and production scenarios. These strategies are essential in …
Alexander Dyukov Elected Chairman of Slavneft’s Board of Directors
On March 5, 2013, the new membership of Slavneft’s Board of Directors elected Alexander Dyukov, Chairman of the Management Board, General Director, OAO Gazprom Neft to be the new Chairman of the Board of Directors of OAO NGK Slavneft. At this position he replaced German Khan, Executive Director, OJSC TNK-BP …
Tatarstan President Inspected Associated Gas Operated Power Generating Plants
JSC TATNEFT jointly with ZAO “Tatex” continues the work aimed at ensuring the rational use of associated petroleum gas (APG). The second program to improve efficient produced gas utilization is being implemented in TATNEFT. In the framework of this program Capstone micro-turbine power plants are implemented. Rustam Minnikhanov, President of …
LUKoil Net Income Reaches Record $11.0bn in 2012
LUKOIL has published consolidated US GAAP financial statements for 2012. The Company’s 2012 net income rose by 6.2% and reached record $11,004 million. EBITDA (earnings before interest, taxation, depreciation and amortization) rose by 1.7% and reached $18,915 million. Sales revenues were $139,171 million (+4.1% y-o-y). The Company’s strict financial discipline …
Repsol and Alliance Oil have Commenced Gas Production from the Syskonsyninskoye Field
Repsol and Alliance Oil have begun commercial gas production from the Syskonsyninskoye (SK) field in the Khanty-Mansiysk region of Russia, marking the first success of the A&R Oil and Gaz BV (AROG) joint venture created to explore for and produce hydrocarbons in Russia. Initial daily gas production is 855,000 cubic …
Dockwise applies for delisting from Euronext
Reference is made to the Offer Document and the press release of 8 February 2013 in which Boskalis Holding B.V., a wholly-owned subsidiary of Boskalis, launched a mandatory cash offer for all issued and outstanding ordinary shares of Dockwise at an offer price of EUR 18.50/ NOK 137.65 per Share …
Rosneft Subsidiary Acquires Interest in ExxonMobil Gulf of Mexico Exploration Blocks
Neftegaz America Shelf LP (Neftegaz), an indirect independent subsidiary of Rosneft, acquires 30 percent interest in 20 deepwater exploration blocks in the Gulf of Mexico held by ExxonMobil, under an agreement signed by the two companies. Neftegaz America Shelf LP (Neftegaz) joins ExxonMobil to explore deepwater Gulf of Mexico Neftegaz …
Caterpillar to Power Russia’s Largest Offshore Oil and Gas Platform
Cat® 3500 diesel generator sets installed on Arctic production platform Caterpillar Oil and Gas is pleased to announce the Cat® 3500 diesel generator sets have been successfully installed on what is expected to be Russia’s largest offshore oil and gas platform. Three Cat 3516B (HD) generator sets will provide both …
Georgia’s Minister of Energy to Present at GIOGIE Conference
The Ministry of Energy and Natural Resources of Georgia, Kakha Kaladze, has confirmed to present an opening address at the 12th Georgian International Oil, Gas, Infrastructure & Energy Conference (GIOGIE), taking place on 26 – 27 March 2013 at Tbilisi, Georgia. GIOGIE is a central meeting place for the local …
Russia’s Oil Lead Challenged as Taxes Strangle Shale Drilling
The U.S. and Saudi Arabia are approaching Russia as the world’s leading oil producer, with production rising 12 percent in the U.S. and 5.9 percent in Saudi Arabia last year. The U.S. production spurt is 10 times Russia’s 1.2 percent growth rate reported Bloomberg. The prime reason, according to oil …