Shah Deniz Stage 2 Project Enters the Next Phase of Development
The Shah Deniz consortium has reached an important milestone and approved the decision to commence Front End Engineering and Design (FEED) on the estimated $25 billion Shah Deniz Stage 2 project. This was officially announced in Baku today during the meeting between the President of the Republic of Azerbaijan H.E. …
Dragon Oil Operations Update: 1bn USD to be Spent on CapEx by 2015
Dragon Oil plc, an international oil and gas exploration, development and production company, issues its Interim Management Statement in accordance with the EU Transparency Directive. The statement covers the period from 1 January 2012 to date. The financial and production data are for the period from 1 January 2012 to …
Rosneft and ExxonMobil Announce Progress in Strategic Cooperation Agreement
Rosneft and ExxonMobil today signed agreements to implement a long-term Strategic Cooperation Agreement concluded in August 2011 to jointly explore for and develop oil and natural gas in Russia and to share technology and expertise. Joint ventures being created to explore in Russian Black Sea and Kara Sea; initial planning …
TNK-BP to Launch CarboNRT Frac Program at Samotlor
ТNК-ВР continues transferring best international technologies to enhance development of its hydrocarbon fields in Russia. OJSC Samotlorneftegaz (SNG), a subsidiary of TNK-BP, has launched a pilot project to test innovative reservoir stimulation technology, which combines hydraulic fracturing with cutting-edge CarboNRT traceable proppant. Altogether, the 2012 program includes 20 fracturing jobs …
Tatneft Publishes 2011 Year Results: Revenue up 30%
OAO Tatneft announced today that it published the audited consolidated financial statements for the year ended December 31, 2011 prepared in accordance with U.S. generally accepted accounting principles and related Directors’ report, incorporating Management Discussion and Analysis of Results of Operations. Selected financial highlights below are based on the respective U.S. …
TNK-BP Warns Against Unscrupulous Trading Agents
TNK-BP Group warns of possible risks arising from cooperation with unscrupulous market participants which claim to act on behalf of the Company. In relation to claims from companies which receive offers from unknown people acting allegedly in the name of the Company’s subsidiaries, to conclude supply contracts, TNK-BP informs that: …
Slavneft Produces 4.48m Tonnes of Oil in Q1
During the first three months of 2012 the company JSC “NGK” Slavneft “in accordance with the business plan have extracted 4.48 million tonnes of oil and 215.4 million cubic meters. meters of gas, which exceeded the same period last year by 0.6% and 2.3%. Since the beginning of the year in …
The Chemical EOR Alliance (Rhodia / Beicip-Franlab / IFPEN) to Team with Champion Technologies in the USA and Canada
COLLABORATION CREATES A UNIQUE INTEGRATED CHEMICAL EOR SOLUTIONS PROVIDER The Chemical EOR Alliance (an alliance between Rhodia, Beicip-Franlab and IFPEN) has announced a strategic collaboration with Champion Technologies, one of the world’s largest oil and gas specialty chemical companies. The companies will work together to promote and deliver integrated solutions …
TNK-BP to Invest 2.5 bn Rubles to Develop the Yuzhno-Petyogskoe Field in Tyumen in 2012
TNK-BP annouced that LLC “TNK-Uvat” is commencing development of Yuzhno-Petyogskoe field in the southern Tyumen Region and plans to commission the field before the end of 2013. The company will allocate ca. 2.5 bln rubles for exploration and production infrastructure construction this year. Yuzhno-Petyogskoe is located in the territory of …
KazMunaiGas: Reserves and Resources Assessment as at 31 December 2011
КаzМunaiGas Exploration Production today announces the results of the annual assessment of Reserves and audit of Contingent Resources, as at 31 December 2011 by the independent energy consulting firm Gaffney, Cline & Associates (“GCA”). These Reserves and Resources have been estimated in accordance with the 2007 Petroleum Resources Management System …