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Bashneft was recognized as winner of the auction held today by the Department of Subsoil Use of the Nenets Autonomous District (NAOnedra) and was granted the rights to geological exploration, finding, surveying, and production of hydrocarbons of the Yangareiskiy and Sabriyaginskiy subsoil blocks. The company will make a one-time payment …

Caspian Energy Inc. and partners have encountered net pay zones aggregating 184.8 metres at a new discovery well in the West Zhagabulak field of Kazakhstan. Following successful logging, Well 316 has been cased to a depth of 4,950 metres and an application has been filed with local authorities to test …

Shell announces today that Malcolm Brinded has agreed to step down as an Executive Director of the Company with effect from 1 April 2012. Mr Brinded has agreed to remain at Shell until 30 April 2012 in order to assist with the transition of his responsibilities. Mr Brinded is currently …

In 2011, the improved macro environment supported our operations and financial performance. The price of Urals increased by almost 40% year-on-year and the Russian Rouble strengthened against the US Dollar by 3.2%. New tax initiatives aimed at stimulating Russian upstream production and enforcing refinery modernizations were adopted last year. Alliance Oil Company’s oil production …

TNK-BP and the Government of the Orenburg region signed an Agreement to determine the key areas and parameters of cooperation between the Company and the region in 2012. TNK-BP is the biggest taxpayer in the Orenburg region and implements a number of social investment programs in the region including charitable …

Dragon Oil, an international oil and gas exploration, development and production company, announces its full-year results for the year ended 31 December 2011. These results are prepared in accordance with International Financial Reporting Standards as adopted by the European Union. Key Operational and Corporate Highlights Drilling and Infrastructure –   …

A meeting of a standing committee on labor safety was held at OAO TATNEFT with participation of its structural divisions and management companies on the results of operation in 2011 and the main areas of organizational and technical work on the industrial and fire safety, occupational safety, industrial inspection, prevention …

Bashneft has placed series 04 certificated interest-bearing non-convertiblebearer bonds (the state registration number 4-04-00013-A of 29 September 2011) with a total par value of 10 billion rubles and obligatory centralized custody. The bonds have a maturity period of 10 years (3640 days) and a put option after 3 years. Investors have placed 34 orders for series 04 bonds with …

Samotlorneftegaz (incorporated into the TNK-BP Group of companies) is actively using the mobile drilling technology for more efficient production in mature fields of West Siberia. The technical capacity of mobile drilling rigs is no worse than that of pad mounted drilling rigs. Mobile drilling rigs allow drilling of wells up …

Gazprom headquarters hosted today a working meeting among Alexey Miller, Chairman of the Company’s Management Committee, Umirzak Shukeyev, Head of the Samruk-Kazyna National Welfare Fund, Chairman of the KazMunaiGaz Management Board and Kairat Boranbayev, Chairman of the KazRosGaz Management Board. The meeting focus was placed on taking new opportunities available after the Common Economic Space had been …