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 …
Rosneft Has Installed Monitoring Stations for Drilling Data with Artificial Intelligence Elements in Heavy Drilling Rigs
Rosneft has installed monitoring stations for drilling data with artificial intelligence in heavy drilling rigs. This was announced by Eric Liron, First Vice President of PJSC NK Rosneft, in his speech at the Vth Conference of the Upstream Technologies Company. “Over the past 5 years, the volume of drilling at the …
Syria Invasion Forces Russia To Halt Oil Projects
Russian oil giant Rosneft has temporarily suspended works at one block in Iraq’s semi-autonomous region of Kurdistan due to security concerns because of the blocks’ proximity to the Syrian border, Rosneft’s First Vice President, Eric Maurice Liron, said on Thursday. Rosneft has signed several agreements with Kurdistan dating back from 2017 and 2018 to …
Rosneft’s Arctic Projects In Trouble Unless They Can Secure $40 Billion In Tax Subsidies From Kremlin
On Thursday October 10, The Moscow Times reported that Rosneft’s ambitious Arctic plans could be put on hold if the company fails to secure 2.6 trillion rubles ($40 billion) in tax cuts from the Russian government. The state-owned oil company is looking to sell a 40% stake in one of its most …
Verkhnechonskneftegaz to Produce Additional 221 Thousand Tonnes of Oil Due to Introduction of Enhanced Oil Recovery Method
Experts of Verkhnechonskneftegaz JSC, a subsidiary of Rosneft Oil Company, have successfully implemented a physical and chemical method of enhanced oil recovery and achieved a 54% increase in additional oil production using this technology in 2018 compared to 2017. The method feature is to redistribute the volume of injected water …
Rosneft Discovers New Field Offshore Sakhalin
As part of its exploration campaign, Rosneft Oil Company has successfully completed the drilling of the first prospecting and appraisal well at the Vostochno-Pribrezhny license block on the shelf of Sakhalin Island, resulting in the discovery of a new oil field. The well was drilled by Rosneft’s own drilling contractor …