Lukoil Consolidates Assets in Timan Pechora
LUKOIL announced today that it has acquired ConocoPhillips’ indirect 30 percent interest in Naryanmarneftegaz (NMNG) and certain related assets. ConocoPhillips indirectly owned 30% in NMNG. The acquisition brings LUKOIL’s total ownership interest in NMNG to 100%. Financial terms of the transaction were not disclosed. In view of the sale of …
Tenaris launches the TenarisHydril Application Guide for iPad and iPhone
Tenaris has released the TenarisHydril Application Guide for iPad and iPhone. The new application allows oil and gas operators to browse functional or operational applications of TenarisHydril premium connections to select the correct product for their specific project needs. It is an enhanced, mobile version of what is currently found on the …
Minister of Energy of the Russian Federation Visited Tatneft
Alexander Novak, Minister of Energy of the Russian Federation, visited OAO TATNEFT on August 21 within the frame of his working visit to the Republic of Tatarstan. During the visit, he was accompanied by Rustam Minnikhanov, President of the Republic of Tatarstan and Shafagat Takhautdinov, General Director of OAO TATNEFT. …
TNK-BP to Boost Associated Gas Utilization in the East Uvat Hub by 50% to 78 Million Cubic Metres in 2012
TNK-BP is to boost utilization of associated petroleum gas (APG) at the East Uvat Hub in West Siberia by 50% versus 2011 to 78 million cubic metres, following the launch of a 15 MW gas piston power plant in September 2012. TNK-BP is implementing a program to expand APG utilization …
Managing Risk in Russia’s Oil and Gas Industry
Phil Murray, CEO, Petrotechnics Managing operational risk and delivering on production targets in the oil and gas industry are often seen as being at odds with one another. As stakeholder expectation of performance continues to rise, operational risk management is now ensconced as a board level challenge. The key to …
Alliance Oil: Interim report for the quarter and six months ended 30 June 2012
Quarter ended 30 June 2012 Revenue of MUSD 817.1, up 4% from Q2 2011. EBITDA of MUSD 133.1, up 7% from Q2 2011. Profit before tax of MUSD 29.3, down 62% from Q2 2011. Foreign currency swap revaluation loss of MUSD 10.8 and currency exchange loss of MUSD 25.9 negatively …
Condor Petroleum Inc. provides update on its Shoba 7 Appraisal Well
Condor Petroleum Inc. provides an update on its Shoba 7 appraisal well (the “Well”) at the Zharkamys West 1 Contract Territory (the “Zharkamys Territory”) in Kazakhstan. The Well was drilled to core point at 730 meters. While tripping out of the hole for core barrels, an uncontrolled gas influx occurred in the …
ТNК-ВР Investing $800 Million in 2012 to Develop Uvat Greenfields in West Siberia
ТNК-ВР is expected to invest as much as $800 into its Uvat upstream projects in 2012 to support deployment of innovative production technology, develop related infrastructure and continue exploration. ТNК-ВР is pursuing an organic growth strategy to step up its hydrocarbon production by 1-2% every year. Uvat has been consistently …
FMC Technologies to Acquire Pure Energy Services
FMC Technologies, Inc. and Pure Energy Services Ltd. today announced execution of a definitive acquisition agreement under which FMC will acquire Pure for C$11.00 per share in cash, or approximately C$282 million (US$285 million). Based in Calgary, Pure is a leading provider of frac flowback services and an established wireline …
Sakhalin LNG Exports Exceeds 30 million Tonnes
The Sakhalin Energy company, operating one of the world’s largest integrated oil and gas projects Sakhalin-2, has produced over 30 million tonnes of liquefied natural gas (equivalent to 40 bcm of natural gas) in the time period of three years of its LNG Plant operations. The 500th standard cargo of …