Repsol and Alliance Oil complete the first phase of their exploration and production joint venture in Russia
Alliance Oil Company has transferred its upstream company Saneco to the joint venture with Repsol. Repsol contributed $37 million in cash to the joint venture and paid $36 million in cash to Alliance Oil. Alliance Oil holds a 51% stake and Repsol has a 49% stake in the joint venture. …
Lukoil Makes One-Time Dividend Payment of More Than Rub 60 Billion
The OAO LUKOIL Press Service announces that today, pursuant to Federal Law No. 409-FZ of December 28, 2010, “On the Amendment of Individual Legislative Acts of the Russian Federation with Regard to the Regulation of Dividend Payment (Profit Distribution)” and the resolution of the Annual General Meeting of Shareholders of …
Zhaikmunai to Acquire Neighbouring Oil & Gas Fields
Zhaikmunai LP (LSE: ZKM), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan announces that, on 17 August 2012, Zhaikmunai LLP signed Asset Purchase Agreements to acquire 100% of the subsoil use rights related to three new oil & gas fields in Kazakhstan. Completion of the acquisitions, …
Landmark Invites Clients on St Petersburg Information Technologies Forum Boat Trip
Landmark Eurasia revives the tradition of organizing regular Information Technologies Forums on board of a comfortable four-decker boat. This year Halliburton is inviting its Clients and Partners from Russia and Caspian Region on board of “Vissarion Bilinsky” and proposing an interesting and exciting tour around the water area of Ladoga …
President of Tatarstan Held a Working Meeting at the Taneco Complex
Rustam Minnikhanov, President of Tatarstan, had a working visit to Refining and Petrochemical Plants Complex in Nizhnekamsk on August 16. During the visit the head of the Republic was accompanied by Rinat Sabirov, Assistant to President of the Republic of Tatarstan, Shafagat Takhautdinov, General Director of OAO TATNEFT, Nail Maganov, …
TNK-BP Applies Improved Multistage Hydraulic Fracturing Technology to Boost Well Performance in West Siberia
TNK-BP has become the first company in Russia to apply a unique improved multi-stage hydraulic fracturing technology to develop hard-to-recover reserves at mature fields in West Siberia, thereby reducing well completion cycle and costs. TNK-BP is implementing a comprehensive programme to boost production performance of its mature fields in West …
Arctic Offshore Vessel Will Be Delivered from Arctech Helsinki Shipyard 4 months in Advance
Helsinki Shipyard will finalize Arctic offshore supply vessel Vitus Bering four months in advance. The vessel will be delivered 18 December. Initially, the vessel was to be delivered in April 2013. Arctech Helsinki Shipyard, joint-venture, that is 50/50 owned by STX Finland and United Shipbuilding Corporation, is building two identical offshore icebreaking …
Roxi Petroleum: August Operational update
Roxi Petroleum, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to make the following operational update with respect to its Galaz asset. NK8 NK8 (previously designated as NK14) reached a total depth of 1378 metres on 14 July 2012. The well has now been …
The Personnel Training System at Taneco Was Highly Appraised
The personnel training system established at OAO TANECO based on the successful experience of OAO TATNEFT was highly appraised by the Department Director of the Ministry of Education and Science of the Russian Federation. A visit of Nataliya Zolotareva, Director of the Department of the Ministry of Education and Science …
TNK-BP to Invest Over $60 Million Into West Siberia Water Shutoff Program by 2014
ТNК-ВР will invest over $60 million to implement a 3-year water shutoff technology program, which is expected to cut the cost of producing ‘challenged’ oil reserves in West Siberia. Designed to address mature assets with high watercut, the program will help reduce water production by 60 million cubic meters and …