Statement by OJSC Rosneft Oil Company
On January 14, 2011 OAO Rosneft and BP signed an agreement on a joint venture for the development of the Russian Arctic shelf based on licensed areas, “East Prinovozemelsky 1-2-3, sharing a 9.5% stake in Rosneft for 5.0% of the shares of BP and the formation of a global strategic …
BP and AAR Reaffirm Commitment to Growth and Success of TNK-BP as Talks Continue with Rosneft Following Expiry of Agreement
BP and Alfa- Access- Renova (“AAR”) announced today that they would intensify their efforts to ensure TNK-BP’s continued success following the lapse of the BP-Rosneft share swap transaction (and the related Arctic exploration opportunity) originally announced on 14 January 2011. In recent months, BP has conducted detailed negotiations with AAR …
Schlumberger Releases Latest Version of its Wellbore Software Platform
Techlog 2011 delivers a step-change in usability, together with integrated pore pressure prediction and extended mineral solver capabilities Schlumberger announced today at the Society of Petrophysicists and Well Log Analysts Annual Symposium the release of Techlog* 2011 software, which delivers a next generation application interface and expansion of customization capabilities. …
Tethys Petroleum First Quarter 2011 Financial Results
Tethys Petroleum Limited today announced its first quarter 2011 financial results. The results are underlined by a 112% increase in revenues over the first quarter of last year. The Company reports financial results in accordance with International Financial Reporting Standards (“IFRS”). RECENT HIGHLIGHTS • With sales of US$4.48 million in …
Max Petroleum Successful Triassic Appraisal Well Drilled in the Zhana Makat Field
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, is pleased to announce today that the ZMA-ET2 appraisal well in the Zhana Makat Field has reached a total depth of 1,492 metres, with electric logs indicating 18 metres of net oil pay in three Triassic …
Gazprom Neft agrees $600 million club loan
Gazprom Neft has reached an agreement with a group of banks to raise a five-year $600 million unsecured club term loan facility for general corporate purposes. The interest rate on the loan amounts to LIBOR +1,5%. The Mandated Lead Arrangers and Bookrunners are Bank of America N.A., Citibank N.A., HSBC …
Integra completes GDR Buyback Program of US$ 25 million
Integra Group, a leading FSU-based diversified oilfield services provider, announces the completion of a GDR buyback program launched on 28 October 2010 (the “Program”). As part of the program, the Company has purchased a total of 7,260,054 GDR’s for US$ 25 million at an average price of US$3.44/GDR. The amount …
Oil & Gas Industry Converges on Baku
The 2011 Caspian Oil & Gas Exhibition and Conference takes place 7-10 June in Baku. It is expected that the exhibition will be opened again by the President of Azerbaijan, HE President Aliyev and held at the new Baku Expo Center. The conference will be on 8-9 June at the …
Max Petroleum Drilling Update 2011
Max Petroleum Plc, an oil and gas exploration and development company focused on Kazakhstan, announced today an operational update of its activities in the Blocks A&E Licence area in the Republic of Kazakhstan. Narmundanak South Drilling has commenced at the NARS-1 exploration well on the Narmundanak South prospect in Block …
Exillon Energy Appraisal Update May 2011
Exillon Energy plc, a British listed independent oil producer with assets in two oil-rich regions of northern Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), is pleased to announce that appraisal well 3 (EWS II – 139) successfully found oil on the western part of the EWS II field. …