Rosneft: Q1 Financial Results – Oil Price Hits Numbers
Positive free cash flow of USD 3.5 bln in spite of lower crude oil prices EBITDA decreased by more than a third on the back of sharp decline in oil prices Negative Net income due to RUB depreciation and revaluation of foreign currency denominated liabilities Effective control over the costs: …
RPI: Taymyr Will Support the Drillers
In early February this year, at a meeting between the President of the Russian Federation and the Head of Rosneft, the implementation of the largest production project in decades was launched – the development of hydrocarbon reserves of the Taymyr Peninsula in synergy with the fields of the Vankor cluster. …
Rosneft Signs Contract with Indian Oil to Supply 2 Million Tonnes of Oil to India
Rosneft Oil Company and Indian Oil Corporation Limited (IOCL) signed a contract to supply up to 2 million tonnes of oil to India via the port of Novorossiysk by the end of 2020. The signing took place during the visit of the Chief Executive Officer of Rosneft Igor Sechin to …
Rosneft Implements Unique Project on Injecting APG in Underground Gas Storage
Verkhnechonskneftegaz, an enterprise of the upstream complex of Rosneft Oil Company, has implemented an associated petroleum gas (APG) efficient utilisation project. For the first time in East Siberia, the technology for injecting APG in a temporal underground gas storage facility has been applied at the Verkhnechonskoye field. The uniqueness of …
RN-Uvatneftegaz Discovers New Oil Field Sosnovoye
RN-Uvatneftegaz, a subsidiary of Rosneft Oil Company, has discovered a new oil field, Sosnovoye, with total C1+C2 reserves of 4.2 million tonnes. An industrial oil flow with a flow rate of more than 22 cubic metres per day was obtained at an appraisal well. The Sosnovoye field is located within …
Rosneft: Financial Results for 3Q and 9М 2019
9M 2019 Net income jumped by 25% YoY to RUB 550 bln, including a QoQ growth to RUB 225 bln in 3Q 2019 3Q 2019 EBITDA increased by 7.6% QoQ to RUB 554 bln with a margin improvement to 24.4% 3Q 2019 FCF growth by more than 2 times QoQ …
Rosneft: Operating Results for Q3 and 9M 2019
Hydrocarbon production Hydrocarbon production in 9M 2019 amounted to 5.78 mmboed (213.1 mmtoe over the period), exceeding 9M 2018 level by 0.6%. In Q3 2019 average daily hydrocarbon production amounted to 5.74 mmboed (71.3 mmtoe over the period), demonstrating growth of 0.5% QoQ. 9M 2019 liquids production amounted to 4.67 …
RN-Yuganskneftegaz for the First Time Applied Two-Column Drilling Technology in the Construction of a Fishbone Well
The specialists of RN-Yuganskneftegaz for the first time built a horizontal multilateral well of a two-column design with multiple branches using the fishbone technology. The total length of the well is 5,234 meters, the length of the horizontal section is 2161 meters. The starting flow rate amounted to more than 600 tons …
Russian Oil Giant Prepares Massive $157 Billion Arctic Oil Project
Rosneft is preparing to lead an Arctic oil field development project that will cost an estimated $157 billion (10 trillion rubles). Reuters quoted Russia’s Deputy Energy Minister Pavel Sorokin as announcing the price tag of the Vostok Oil project to media last week, adding that the Kremlin had already agreed on a …
Rosneft: The Economic Effect of the Introduction of a Digital Planning Complex in the Upstream Area Amounted to More Than 2 Billion Rubles
Rosneft gained economic benefits from the introduction of a digital complex for planning, accounting and monitoring the effectiveness of the program of geological and technical measures (geological and technical measures) in the amount of more than 2 billion rubles. The information system “GTM-DB” is a corporate complex that allows to …