Shelton Petroleum: Record Flow Rate From New Well in Russia
The fourth well on the Rustamovskoye oil field in Russia has been taken into production with an initial flow rate exceeding 300 barrels per day, which is significantly higher than the field’s previous wells. Shelton Petroleum’s Russian and Ukrainian operations have now jointly reached a total production of approximately 1,000 …
BP: Wins Macondo Claims Payout Appeal
BP is extremely pleased with today’s ruling by the U.S. Court of Appeals for the Fifth Circuit setting aside the claims administrator’s interpretation of the business economic loss framework in the settlement agreement BP reached with the Plaintiffs’ Steering Committee last year. Today’s ruling affirms what BP has been saying …
Volga-Dnepr Moves 90 tons of Oilfield Equipment to Surgut
Volga-Dnepr Airlines’ latest transportation solution for the oil and gas industry has seen one of its Antonov AN-124-100 freighters deliver over 90 tons of oilfield equipment from Calgary in Canada to the Russian city of Surgut. The cargo of Calfrac Well Services Ltd consisted of two pumps used to perform …
Rating Agency Ekspert RA Confirms Credit Rating of Uralmashplant JSC at A Level
Rating agency Ekspert RA confirmed credit rating (long-term credit capacity) of Uralmashplant JSC at A level (high level of credit capacity). Prediction: stable. Conducting rating analysis of Uralmashplant JSC the agency analysts pointed out high activity diversification as positive factors in business sectors, broad geography of business (according to the …
Eurasia Drilling Company: Awarded Multi-Year Contract for New-Build Jack-up Rigs in the Caspian Sea
Eurasia Drilling Company Limited, the leading onshore and offshore drilling service provider in the CIS, announces today that Dragon Oil plc, an international independent oil and gas exploration, development and production company, has awarded a three year contract to BKE Shelf (a subsidiary of EDC) for the provision and management …
Rosneft Acquires 51% Stake in Petroresurs
Igor Sechin, Rosneft President and Chairman of the Management Board and Ian Lundin, Chairman of the Board of Directors of Lundin Petroleum AB today signed heads of agreement on Rosneft’s acquisition of a 51% interest in Petroresurs LLC. Commenting on the signing, Igor Sechin said: “The agreements reached will enable …
Lukoil Starts Construction Of Onshore Intake Facilities For Oil From North Caspian
LUKOIL has concluded the bidding process to select the contractor to construct onshore facilities for the intake, storage, metering and further transportation of commercial oil from the Northern Caspian fields developed by the company. The designed capacity of the facilities will be up to 8 million tons per year. ZAO …
Gas2 Announces Breakthrough Gas-To-Liquids (GTL) Technology Success
Scottish gas reforming company Gas2 has reached a significant milestone in the development of the next generation of natural gas-to-liquids (GTL) technology which has the potential to open up remote gas as well as shale and unconventional reserves. The Aberdeen-based company has successfully completed an extended test period of its …
Tatneft: Holds Regular Board Meeting
A regular meeting of the Board of Directors of JSC TATNEFT chaired by Rustam N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan (Republic of Tatarstan) on October 1, 2013. The Board of Directors meeting reviewed the budget performance of TATNEFT for eight months of 2013 and …
Russia Launches New Subsea Tax Incentives
Russia introduced new tax breaks on Monday encouraging oil firms to explore hard to reach subsea fields, in the hope of unlocking new reserves as the country approaches full production capacity from its dwindling oil deposits in West Siberia. Russia, the world’s top energy producer, is now pumping close to …