Tethys Petroleum: Books 45% increase in P2 Reserves
Tethys Petroleum announces a significant increase in its reserves in oil and gas in Kazakhstan as reported in a new reserve report. Total Net Oil and Gas Reserves (barrels of oil equivalent:BOE) — 1P (Proved) up 96%: 14.5 million BOE — 2P (Proved + Probable) up 45%: 25.3 million BOE …
PetroNeft Resources Books Big Reserve Increase
PetroNeft Resources plc owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to provide an update on its operations. Highlights: · PetroNeft’s 2P reserves increase 36% to 131.7 mmbbls o Sibkrayevskoye 49.83 mmbbls · PetroNeft’s proved reserves (P1) increase 50% to 20.03 mmbbls o Lineynoye …
TNK-BP Will Invest $16 Million in Development of the Tyumen Petroleum Research Centre
TNK-BP will invest $16 million in development of Tyumen Petroleum Research Center (TNNC). The money will be spent on TNNC geological studies program. TNNC accumulates all data bases on geology and specifics of the Group fields development. It also develops geological and reservoir models as a basis for exploration and …
Sakhalin Energy Starts Production Sharing On Sakhalin-2
Production sharing under Sakhalin-2 Project has begun. Starting March this year Russian Federation and Sakhalin Region will receive its share of profit production. “Production sharing began ahead of plan. This is not only a result of favourable market conditions, but first of all result of efforts of the whole company …
Shtokman FID Not Delayed but Further Economic and Technical Work Required, Framework Agreements Extended
Shtokman Development AG Board of Directors Set Priorities for Further Work on the Shtokman Project (Phase 1) The regular meeting of Shtokman Development AG (SDAG) Board of Directors was held in Moscow on March 29, 2012. Based on the decisions of December meeting, the Board reviewed whole scope of issues …
TNK-BP Plans to Spend $7.5 BN in 2012 on Russian Goods and Services
TNK-BP is retaining its leadership in the Russian goods and services market, with plans to spend $7.5 bn in 2012. The Company will place around 80% of its total orders for equipment and materials with Russian suppliers. Implementation of TNK-BP’s major programmes, including its flagship projects in Yamal and northern …
Ministry of Economic Development Approves Rosneft’s APG Utilisation Investment Projects
The Ministry of Economic Development of the Russian Federation has passed an order approving two of Rosneft’s APG joint implementation investment projects. The order, No. 112 of 12 March 2012, approves a project to reduce APG flaring and generate electricity at the Khasyreiskoye deposit and a project to utilise APG …
Free On-Demand Webinar: Satellite SCADA for Oil & Gas Industry Challenges
Learn how satellite communications can play a role in providing order and achievement in the operation of SCADA assets in the Oil and Gas market. Oil and Gas services companies need M2M solutions that are tested and proven to effectively protect, manage, and leverage their infrastructure investment. Remotely accessing and …
Rosneft Concludes Public Hearings on Seismic Study Programme at Three Blocks in the Western Arctic
Rosneft has concluded a series of public hearings on its 2012 seismic study programme for the East Prinovozemelsky 1 and 2 blocks in the Kara Sea and the Youzhno Russky block in the Pechora Sea. Public hearings began in early February in Arkhangelsk and in the village of Yar-Sale in …
Emerson and Statoil Sign Multi Year Agreement for Fiscal Metering Systems
Emerson to supply Daniel® fiscal metering systems for Statoil’s Valemon platform Emerson Process Management has been awarded a five year Framework Agreement by Statoil to provide a range of its Daniel® fiscal metering systems, as well as related products and support services. The agreement also covers on-going maintenance of existing …