RN-Yuganskneftegaz Produces 2.5 Billion tons of Oil
Since the beginning of field development in 1964, the oil workers of RN-Yuganskneftegaz have produced 2.5 billion tons of oil. This is 20% of all oil produced in the Khanty-Mansi Autonomous Okrug-Yugra. This volume can be compared to a train of 36 million wagons that wrapped the globe more than 10 times. …
Gazprom Neft’s Future Development Stratagies
Gazprom Neft’s resource base development strategy determines the company’s strategic target – an increase in production to 100 mln t/y by 2020 and to maintain this level of production in future. “A 100 mln t/y production is a strategic target that Gazprom Neft shall achieve by 2020”. This target has …
Gazpromneft Shelf: Prirazlomnoye Produces 10 Millions Barrels of Oil
March 2016 saw the 10-millionth barrel of oil produced at the Prirazlomnoye oilfield — located on the Russian Arctic Shelf in the Pechora Sea and currently under development by Gazpromneft Shelf. Shipment of this landmark barrel was completed by the Mikhail Ulyanov tanker on 10 March, the 22nd consignment since …
Gazprom Neft: 9M Results – Production Up 22%, EBITDA Up 9.3%
Gazprom Neft has published its consolidated financial results for 9M 2015, prepared in accordance with International Financial Reporting Standards (IFRS). Rising hydrocarbon production, retail sales and efficient management drove a Y-o-Y increase in adjusted EBITDA* of 9.3% (RUB 312 bln) for 9M 2015. A 0.6% Y-o-Y decline in sales was …
Platts: Russia’s North Pole and Arctic Limits
Calling the oil resources of the Arctic vast is a bit like calling the weather there chilly. It is understandable why a nation would want to claim as much of it as possible. Yet the challenges to harvesting its wealth are also vast, which makes Russia’s move to owning a …
Platts: Russia's North Pole and Arctic Limits
Calling the oil resources of the Arctic vast is a bit like calling the weather there chilly. It is understandable why a nation would want to claim as much of it as possible. Yet the challenges to harvesting its wealth are also vast, which makes Russia’s move to owning a …
Gazprom Neft Shelf: Prirazlomnoye Re-Injection Well Brought in to Operation
Consistent with scheduled development at the Prirazlomnoye field, a re-injection well has been brought into operation on the Prirazlomnaya ice-resistant offshore platform, following drilling operations by Russia’s Gazprom Burenie. The well will help streamline the use of resources at the field by improving the rate of oil recovery. The well …
RPI: Drilling Quality, Not Quantity
In the Russian Federation 2014 became very significant in respect of qualitative change in the situation in the local drilling market. Firstly, the forecasts, only recently predicting fast growth of the open drilling market, did not come true. On the contrary, starting from spring of 2014 Rosneft built up its …
Almost Three Million Barrels Of Arctic Oil Delivered From the Prirazlomnoye Field
The Kirill Lavrov tanker has delivered a new batch of ARCO arctic oil to Europe in its sixth shipment of oil. More than 2.9 million barrels of oil have been extracted from the Prirazlomnoye oil field since production began. The Kirill Lavrov and Mikhail Ulyanov Arc6 class double-hulled icebreaking oil …
RPI: Offshore Field Development in Russia: Are the Sanctions an Opportunity for Russian Companies to Fill the Void?
Vadim Kravets In mid-February 2015, the third round of EU sanctions targted a number of Russian officials and nine new companies were introduced. Previously, in late summer and early autumn 2014, the U.S., EU, Japan and Canada introduced, in two rounds, sanctions againstw certain individuals and sectors of Russia’s economy …