Latest News from Drillmec Times No. 1
We are proud to announce that Drillmec’s team successfully completed the Factory Acceptance Test for the MR-9000 – EU drilling rig on Monday 11th May. This latest model of the renowned Drillmec MR-Series is ready for shipping and will be delivered in June to our client Pe.Be.Ka in Lubin, in …
PGS ASA: Implementing Further Cost Measures
PGS implements further cost reductions to bring annual gross cash cost run-rate to approximately $400 million through staff reductions, re-organization, consolidation of offices, re-negotiation of service agreements and other cost measures. The Covid-19 pandemic and related disruption in the oil market have caused unprecedented challenges for the seismic industry and …
Gazprom Neft Publishes IFRS Financial Statements for Q1 2020
The Company has maintained its financial stability amidst the unprecedented COVID-19 pandemic and decline in oil demand and oil prices; Adjusted Q1 2020 EBITDA stands at RUB99 billion; Significant free cash flow, standing at RUB22 billion; Net debt to EBITDA ratio as at end Q1 2019 standing at 0.88x. Gazprom Neft (the “Company’) today announces its consolidated IFRS financial results for the …
RDCR 2020 – The Official “Back 2 Business” Conference for the Russian Drilling & Production Sector
The global economy is currently facing an unprecedented challenge, and the hydrocarbon industry is reeling from low oil prices. Due to the COVID-19 pandemic, industry events around the world are being cancelled or postponed until 2021. All of us have had to adapt to new ways of working and gathering …
TATNEFT Launched 3D Printing of Reusable Masks for Doctors
TATNEFT together with ZENIT Bank has organized 3D printing of reusable protective screens and respirators to ensure the safety of medical workers. The batch of reusable screens has already been donated by the Company to medical institutions in the region. Initially, the startup has been implemented by Aybulat Khairullin, KNITU-KAI …
TATNEFT Launched 3D Printing of Reusable Masks for Doctors
TATNEFT together with ZENIT Bank has organized 3D printing of reusable protective screens and respirators to ensure the safety of medical workers. The batch of reusable screens has already been donated by the Company to medical institutions in the region. Initially, the startup has been implemented by Aybulat Khairullin, KNITU-KAI …
Gazprom Neft Sets Up “Buffer Zones” to Protect Rig Workers from COVID-19
Gazprom Neft is deploying a major anti-COVID-19 programme — “Antivirus” — which includes a range of initiatives to ensure continuous production under the current pandemic. One of the most important projects under this programme involves putting in place “buffer zones” for virus-testing rotational-shift rig workers prior to their leaving for fields. Special buffer zones have been put in place for workers …
23rd World Petroleum Congress Postponed to December 2021
In light of the consequences of COVID-19 and global market volatility, the 23rd World Petroleum Congress has been postponed to December 5-9 2021, it was announced today by WPC President Tor Fjaeran and the Organizing Committee Chairman, Jeff Shellebarger. The decision from the World Petroleum Council Executive Committee and 23rd …
Volga Gas: Production Report for April 2020
Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, is pleased to provide the following update on its average production volumes for April 2020. Production Report The average production in April 2020 was 2,316 barrels of oil equivalent per day (43% lower than March 2020). The reduced gas plant throughput was …
NOVATEK Announces Consolidated IFRS Results for the First Quarter 2020
PAO NOVATEK today released its consolidated interim condensed financial statements as of and for the three months ended 31 March 2020 prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles except as stated) 1Q 2020 1Q 2019 Oil and gas sales …