New Technologies Lift TNK-BP’s Oil Production by Roughly 2.3 Million Tonnes in 2012
TNK-BP announces that it achieved an overall increment of over 2 million tons in 2012 by deploying new oil production technologies – more than twice the figure for 2011. TNK-BP is consistently implementing a comprehensive program to enhance the efficiency of field development work in all its upstream assets. A …
Bashneft announces preliminary results for 2012
Bashneft crude oil production rose 2.2% year-on-year to 15 437 thousand tons in 2012 (112 690 thousand barrels)*. Average daily crude oil production amounted to 42.2 thousand tons per day (308.1 thousand bbl per day). Thus, by the end 2012 Bashneft retained its leading position in Russian O&G industry, not …
TNK-BP to Reinvest 2.3 bn Rubles of Tax Benefits in Oil Production Development in Orenburg Region in 2013
TNK-BP informs that OJSC Orenburgneft and LLC Buguruslanneft (part of the TNK-BP Group) gained the right to apply a reduced profit tax rate in 2013. The Company reinvests released resources in the amount of 2.3 bn rubles in the development of production assets in the Orenburg region. TNK-BP is implementing …
TNK-BP / PDVSA JV in Venezuela Reaches Oil Production Target of 130,000 Barrels per Day
TNK-BP announces that PetroMonagas, a joint venture between TNK-BP (16.7%) and Venezuelan state company PDVSA (83.3%), has increased its production of viscous oil by 11% since the start of the year to the target level of 130,000 barrels per day. The Company is consistently growing its production volumes in line …
BP awards Emerson multi-million-dollar contract to provide automation technology and services for North Sea oil production
Integrated control and safety systems will help BP manage operations of two new platforms for the Clair Ridge project Emerson Process Management has been awarded a $23 million contract by BP to supply integrated control and safety systems for two new bridge-linked platforms for the Clair Ridge project. Clair Ridge is located …
Gazprom to Increase Oil Production by 48.4% to 80 million Tons by 2020
The Gazprom Board of Directors reviewed the efficiency of Gazprom’s oil business and addressed the proposals on boosting oil production volumes. The Board of Directors approved the work done within Gazprom’s Oil Business Strategy, with Gazprom Neft being primarily responsible for this sector. It was highlighted that Gazprom was among the domestic oil industry leaders. Between 2006 and 2011 the annual …