Bashneft And Lukoil Establish JV To Conduct Geological Exploration And Develop License Areas In The Nenets Autonomous District
JSOC Bashneft and OJSC Lukoil have established a new joint venture (JV), LLC Vostok NAO Oil Company, to conduct geological exploration and prospecting and produce hydrocarbons at the companies’ license areas in the Nenets Autonomous District. ‘We welcome greater cooperation with Lukoil. Successful development of the Trebs and Titov fields in the Nenets Autonomous District has proved …
LUKOIL: Approves Annual Report – Proven Reserves to Last 21 Years
The OAO “LUKOIL” Board of Directors granted tentative approval to the Annual Report of OAO “LUKOIL” for 2013, in Moscow today, in accordance with the Federal Law of the Russian Federation on Joint-stock Companies and the company’s Charter. The document is recommended for approval at the General Shareholders Meeting of …
LUKOIL Optimizes Hydrocarbon Asset Portfolio in Kazakhstan
Vagit Alekperov, OAO LUKOIL President, signed a purchase and sale agreement today that allows the company to sell its 50-percent stake in the Caspian Investment Resources Ltd to China’s Sinopec. The total price of the shares for sale will be around USD 1.2 billion and will be subject to a number …
LukOil to sell stake in Caspian Investment
LukOil has agreed to sell its 50% stake in Caspian Investment Resources Ltd to China’s Sinopec for around $1.2bn, subject to adjustments at closing. Caspian Investment Resources, through a number of joint ventures, owns various stakes in four hydrocarbon-production projects in Kazakhstan. LukOil’s share in commercial hydrocarbon production as part …
Tight Oil Developments in Russia
James Henderson : The Oxford Institute for Energy Studies Part 1, click here to read part 2 Introduction Production of unconventional oil has transformed the US energy landscape, creating the potential for that country to reduce its reliance on oil imports and to contribute to the possibility of North America’s …
RPI: Horizontal Drilling in Russia
Horizontal drilling increased by 80% in both KMAD and East Siberia between 2007-2012. The contribution to incremental drilling was roughly the same in both regions. As a result, horizontal drilling is rising at a steady pace in Russia due to both the development of new fields in greenfield oil producing …
LUKoil Starts Production Drilling At The Imilorsko-Istochniy License Area Ahead Of Schedule
Vagit Alekperov, OAO LUKOIL President, participated in the ceremony dedicated to the start of production drilling at the Imilorsko-Istochniy license area today. The prompt launch puts the Company considerably ahead of schedule in the implementation of the Early Oil project at the Imilorsko-Istochniy license area.The original plan was to start …
LUKoil: Financial Figures for 2013, Numbers hit by Non Cash Write Off
LUKoil has published consolidated US GAAP financial statements for 2013. The Company’s 2013 net income reached $7,832 million. EBITDA (earnings before interest, taxation, depreciation and amortization) reached $16,668 million in 2013. Sales revenues were $141,452 million (+1.6% y-o-y). The positive dynamics of revenues was due to a y-o-y increase in …
C.A.T. oil AG: 100% of Hydraulic Fracturing Capacity Successfully Marketed for 2014
C.A.T. oil AG, one of the leading providers of oil and gas field services in Russia and Kazakhstan, today announced that it has successfully marketed its fracturing capacities. The Company’s operating subsidiary CATKoneft has been awarded a tender worth EUR 148 million (based on a rouble-to-euro exchange rate of 47) …
Gazprom and LUKOIL Joining Efforts to Prevent Marine Accidents
Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Ravil Maganov, First Executive Vice President of LUKOIL signed a Cooperation Agreement on prevention of and response to emergencies caused by oil and petroleum product spills in the locations of the companies’ offshore facilities. The companies agreed that in case of emergencies related to oil and/or petroleum product spills, they would provide …