Total Halts Novatek Share Purchasing Due to Sanctions
French oil major Total stopped buying shares in Russia’s Novatek when a Malaysian airliner was shot down over Ukraine, but it is still too early to gauge the impact of western sanctions against Russia, Total said, reported Reuters. * Q2 net adj profit down 12 pct to $3.15 bln * Yamal development …
Kashagan Restart Slips to Optimistic Summer of 2016
Kazakhstan’s giant Kashagan oilfield may resume production in the first half of 2016 under an “optimistic scenario”, Kazakh Oil and Gas Minister Uzakbai Karabalin said on Wednesday, putting off his earlier estimate of the restart date. Production from the oil deposit in the Caspian Sea, one of the world’s biggest …
NADL – North Atlantic Drilling Secure Commitment for Six Offshore Units from Rosneft
North Atlantic Drilling is pleased to announce that 6 binding offshore contracts have been executed with Rosneft Oil Company. The total revenue potential for the six contracts exclusive of mobilization is approximately US$4.25 billion. According to the agreement, any break rights expire after 100 days. The executed contracts include 5 …
Rosneft and North Atlantic Drilling Expand Offshore Partnership
Rosneft and North Atlantic Drilling Ltd. have entered into long-term offshore drilling contracts. The transaction contemplates employment of six offshore drilling rigs until 2022 with the purpose of carrying out Rosneft offshore projects, including harsh environment. After the signing, Igor Sechin stated: “Entering into long-term offshore drilling agreements will allow …
Rosneft to Carry Out Ecologic Fishery Research in Laptev Sea
For the first time in history of Arctic Rosneft will carry out integrated ecologic fishery research on three licensed sites (LS) of Laptev Sea: Anisinsko-Novosibirsky, Ust’ Lensky and Ust’ Oleneksky. The Program of ecologic fishery research realization is the first and obligatory part of licensed sites water areas geologic research, …
NOVATEK Announces Consolidated IFRS Results for Second Quarter and First Half 2014
In the second quarter and first half 2014, our total revenues increased by 52.3% and 27.7%, respectively, compared to the corresponding periods of 2013. The growth was mainly due to an increase in average prices for natural gas and liquid hydrocarbons, as well as higher liquid hydrocarbons sales volumes. Average …
Petrofac Secures £5 million Maintenance Build Contract for the Shah Deniz 2 Project
Petrofac, the international oil & gas facilities service provider, has secured a contract with the BP-operated prestigious Shah Deniz 2 project to provide their maintenance build capabilities. The contract, valued at around £5 million, covers new onshore, offshore and pipeline assets in the Azerbaijan sector of the Caspian Sea for …
Rosneft and PDVSA Signed an Agreement to Arrange the Training of Venezuelan Citizens in Rosneft Partner Universities
Rosneft President Igor Sechin and People’s Minister for Energy & Petroleum, PDVSA President Rafael Ramirez signed an agreement to arrange the training of citizens of the Bolivarian Republic of Venezuela in Rosneft partner universities.The document was signed in Caracas during the visit of Igor Sechin to Venezuela. As part of …
Rosneft and PDVSA To Set Up Engineering & Construction JV
Rosneft President Igor Sechin and PDVSA Ingeniería y Construcción S.A. President Fadi Kabboul signed an Engineering & Construction JV Establishment and Management Agreement. The document was signed in Caracas during the visit of Igor Sechin to Venezuela. Pursuant to the document, Rosneft and PDVSA will set up a joint venture …
Rosneft and PDVSA Signed a Range of Agreements on Offshore Projects and Drilling Technologies
Rosneft President and Chairman of the Management Board Igor Sechin and Venezuelan Minister of Petroleum and Mining and PDVSA President Rafael Ramirez signed a Cooperation Agreement to implement offshore projects in Rio-Caribe and Mejillones blocks (Phase II of the Mariscal Sucre Project). As part of the document, the parties express …