GlobalData: Russia Led the World for Oil and Gas Discoveries in Q3 2017
A total of 30 oil and gas discoveries were made in the third quarter of 2017. Of these, 18 are conventional oil, one is heavy oil, one is unconventional gas, and the remaining 10 are conventional gas, according to GlobalData, a leading data and analytics company. Among countries, Russia leads …
Rosneft: Board of Directors Approves “ROSNEFT-2022” Strategy
Rosneft Board of Directors approved the “Rosneft-2022” Strategy aimed to qualitatively change the Company’s business by introducing the advanced management approaches and new technologies, increasing the returns of existing assets of the Company. “Rosneft-2022” meets the modern challenges of the energy industry in full. The strategy provides for increasing the …
Rosneft: Board of Directors Approves 2018-2019 Plan of Financial and Economic Activities
Rosneft Board of Directors approved the plan of Company’s financial and economic activities for 2018-2019 on an in-person meeting in Sochi. Based on the actual production and financial data for the 9 months of 2017 and the management forecast for the fourth quarter, Rosneft management expects to implement the approved …
Rosneft: Agrees Samotlor Development Program
Rosneft Board of Directors affirmed key parameters for Samotlor field development program. As for today, total oil output at Samotlor exceeds 2.7 btoe. Over 19,000 wells were drilled at the field. However, the water-cut of its production amounts up to 96 percent, which has a great impact on economic efficiency …
Bashneft and Rosneft: Sue Sistema for Damages
Bashneft and Rosneft, acting for the benefit of Bashneft as its shareholder, filed a lawsuit in Bashkortostan arbitration court seeking 131,639,012,421 rubles in damages from Sistema and Sistema-Invest. The amount of the lawsuit is the sum of dividends that the Defendants withdrew from Bashneft from 2009 through 2014, less taxes …
Rosneft: Operating Results for 9M 2017 – Production Up 9.7%
Rosneft’s hydrocarbon production reached 70.5 mmtoe in Q3 2017 (5.67 mmboed) and 210.8 mmtoe in 9M 2017 (5.72 mmboed). Growth was at 0.7% QoQ and at 9.3% YoY. 9M 2017 AVERAGE DAILY HYDROCARBON PRODUCTION ROSE BY 9.7% TO 5.72 MMBOEPD 9M 2017 LIQUIDS PRODUCTION INCREASED BY 11.0% YoY 9M 2017 …
Rosneft: Financial results for 3Q 2017 and 9М 2017
Commenting the results for 3Q 2017 and 9M 2017, Rosneft Chairman of the Management Board and Chief Executive Officer Igor Sechin said: “In 3Q 2017 the Company continued executing the key upstream projects, developing the trading and commercial “hubs” that ensured the revenue and EBITDA growth in the quarter, achieving …
Sakhalin-1: Drills Worlds Longest Horizontal Well
Rosneft Oil Company, as part of the Sakhalin-1 Consortium, has successfully completed drilling from the Orlan platform at the Chayvo well in the Sea of Okhotsk, the longest well in the world. The length of the well with a horizontal end is 15000 m, which for today is a world …
Rosneft and National Iranian Oil Company Sign Oil and Gas Strategic Cooperation Agreement
During the visit of the Russian President Vladimir Putin to the Islamic Republic of Iran Rosneft Oil Company and National Iranian Oil Company signed the “Road Map and Key Terms of Strategic Cooperation in the Field of Oil and Gas”. This document confirms the parties high level of interest in …
Rosneft: Continues Looking to India – Sechin Meets with Prime Minister Narendra Modi
As part of CERAWeek international gathering of energy industry leaders held in New Delhi, Rosneft Chief Executive Officer Igor Sechin and the Prime Minister of India Narendra Modi discussed the prospects of further cooperation between Rosneft and its Indian partners as well as creating favorable conditions for development of Rosneft …