LUKOIL-Nizhnevolzhskneft: Sets New Horizontal Drilling World Record
LUKOIL-Nizhnevolzhskneft has established a new world record in horizontal drilling with a significant bottom displacement. Well No.108, drilled from an offshore ice-resistant stationary platform at Yuri Korchagin field in the Caspian Sea, went down 4,908 meters in the 9.5-inch section, in one run, without any tripping. The new record has …
LUKoil: 2014 Results – Q4 Lifting Costs Down to $4.30 per boe
LUKOIL has published consolidated US GAAP financial statements for 2014. The Company’s 2014 net income reached $4,746 million. EBITDA (earnings before interest, taxation, depreciation and amortization) reached $15,982 million in 2014. Sales revenues were $144,167 million (+1.9% y-o-y). The changes in ruble-nominated revenues were significantly affected by the ruble devaluation. …
AGR: Wins Contract with LUKOIL Overseas North Shelf AS for iQx Solution
Global oil and gas service provider, AGR, announces a further contract award for its well intelligence software solution, iQx™, with LUKOIL Overseas North Shelf AS. AGR’s iQx™ software, which was commercialized in 2013, was designed to simplify and increase efficiency of the planning and execution of drilling wells. It utilizes …
AGR: Wins Drilling Optimisation Contract with LUKOIL Overseas
Global oil and gas service provider AGR announces a substantial contract win to optimise drilling performance with LUKOIL Overseas, the operator of LUKOIL’s international upstream projects. The contract covers LUKOIL’s drilling operations in several territories internationally, including Middle East, Black Sea, Africa and Central Asia. AGR will increase LUKOIL’s drilling …
LUKOIL: Approves Board Candidate List
The Board of Directors of OAO LUKOIL approved lists of candidates for election of the Board of Directors and the Audit Commission at the 2015 Annual General Shareholders Meeting. The list of candidates is based on the nominees put forward by shareholders who own at least two percent of the …
LUKOIL: Board of Directors Summarises Company 2015 Preliminary Performance and Sets Priorities for 2015
The LUKOIL Board of Directors held a meeting in Moscow today to summarize the preliminary results of the company performance in 2014 and set priorities for 2015 and the near term. In 2014, as a result of prospecting, 14 fields were discovered, while 38 oil deposits were identified in the …
LUKOIL: Sends Official Letter to the Ukrainian Security Service
The OAO LUKOIL Press Service announces that the company has sent an official letter to the Ukrainian Security Service’s Main Investigation Department laying out LUKOIL position as regards the current situation around its operations in Ukrainian territory. The letter says, among other things, that LUKOIL entered the international arena more …
Rosneft Increases its Stake in the National Oil Consortium to 80% of Shares
Rosneft and Lukoil signed a package of legally binding documents regarding Rosneft’s acquisition of 20% share in the National Oil Consortium LLC (NOC). Due to this deal the share of Rosneft in the charter capital of NOC will increase to 80%, with the remaining 20% owned by Gazprom Neft. Consolidation …
LUKOIL Agrees to Sell Its Interest in National Oil Consortium
OAO LUKOIL and OAO Rosneft Petroleum Company signed a package of legally binding documents regarding the sale of LUKOIL’s interest in OOO National Oil Consortium (NOC), in Moscow today. LUKOIL intends to sell its 20% stake in the authorized capital of the NOC, established by Russian oil companies in October …
Russian Drilling Market: A Paradigm Shift
In all likelihood, the year 2014 will go down on record as a turning point for the Russian drilling market. New trends have been seen on this market for the first time in several years, i.e. a decline in the scope of total drilling instead of growth that was recorded …