Arctic Tax Breaks Appearing from the Ice
The Russian State Duma has in a first reading proposed to abolish the property tax for all offshore Arctic gas projects. The tax reform, which is included in a legislative bill on offshore gas fields, comes after major pressure and long-dragged negotiations between Gazprom and government officials. As previously reported, …
TNK-BP Acquires New Fields in the Orenburg Region with Total Reserves Exceeding 8 Million Tons
TNK-BP informs about the acquisition of 100% stake in Yupiter-A LLC, which owns licenses for Tverdilovskiy and Pogromnenskiy areas in the Orenburg region with total reserves (C1+C2) of 8.1 mln tons. Asset portfolio expansion is a part of the massive program aimed at efficient development of the prospective oil and …
TNK-BP Announces Discovery of New Fields in Orenburg Region
TNK-BP announces the discovery of new oil fields in the Pokrovsko-Sorochinskiy and Radovskiy blocks, with estimated potential recoverable reserves of 4 million tonnes in the ABC1 category and 1 million tonnes in the C2 category. The future development plan for the new fields includes a detailed appraisal of the acreage …
Exploration: Hot Spots, Hot Rocks, Emerging Themes
David Bamford What do we see when we Examine the Global Exploration Picture? Perhaps more than any other sector of the oil and gas business, exploration encourages rumour and anecdotes, with much important information being traded by ‘networking’. For example, sitting at lunch at a recent Finding Petroleum event, I …
Development of the Russian Arctic Shelf: The Need for Accelerated Development Part 2
Vadim Kravets: leading Analyst Following on from Part 1 of this article which ran in issue 30 of ROGTEC, the article discussed how In early August 2012 the Russian government requested a revision of the draft Program for development of the Continental Shelf. On the whole, however, the government approved …
TNK-BP Expands Its In-House Training Program to Cover 17500 Employees in 2012
TNK-BP informs that in 2012 it expanded its in-house training program aimed at efficiency improvement in the Company’s core activities, increasing the number of participants up to 17,500. The Company launched the in-house training program in all the TNK-BP Group companies in 2009 by establishing its unparalleled in-house trainers …
International Petroleum Limited: Signed Production Sharing Contracts over Four Licence Blocks in Niger
International Petroleum Limited (NSX: IOP) (“International Petroleum” or the “Company”), an oil and gas exploration company with assets in Russia and Kazakhstan, is pleased to announce that four production sharing contracts (the “PSCs”) between the Republic of Niger and International Petroleum Limited, which is incorporated in the Cayman Islands (the “Contractor”) and is …
Rosneft Concludes Cooperation Agreement with Russian Far East Development Ministry
Rosneft has signed a cooperation agreement with the Ministry for the Development of the Russian Far East. The agreement was signed by Rosneft President and Chairman of the Management Board Igor Sechin and Viktor Ishayev, Presidential Plenipotentiary Envoy to the Far East Federal District and Minister for Development of the …
PetroNeft Resources plc: Operations Update
PetroNeft Resources plc owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to provide an update on its operations at Licence 61. Highlights: • Arbuzovskoye well 109 successfully completed and put into production • The well is just beginning to stabilise after experiencing flow line …
Alliance Oil Interim Report for the Quarter and Nine Months Ended 30 September 2012
Quarter ended 30 September 2012 — Revenue of MUSD 904.3, up 14% from Q3 2011. — EBITDA of MUSD 214.0, up 23% from Q3 2011. — Profit before tax of MUSD 169.9, up 102% from Q3 2011. — Profit for the period of MUSD 132.0, up 109% from Q3 2011. …