Rosneft and PDVSA signed Heads of Agreement for Joint Development of the Offshore Natural Gas Project in Venezuela
Rosneft and PDVSA signed Heads of Agreement to establish a joint venture for implementation of the large-scale project for production, treatment and sale of natural gas at the offshore fields Patao, Mejillones and potentially Rio Caribe in Venezuela. The Heads of Agreement is concluded in elaboration of the Memorandum on …
Rosneft: DeGolyer & MacNaughton Audit – Reserve Replacement Ratio At 124%
According to the results of the audit performed by DeGolyer & MacNaughton under the SEC (United States Securities and Exchange Commission) life-of-field classification, as of December 31, 2015, Rosneft proven hydrocarbon reserves stood at 34,465 mmboe (4,654 mmtoe). The Company’s hydrocarbon reserves growth accounted 488 mmboe (59 mmtoe). Reserves growth …
Rosneft: DeGolyer & MacNaughton Audit – Reserve Replacement Ratio At 124%
According to the results of the audit performed by DeGolyer & MacNaughton under the SEC (United States Securities and Exchange Commission) life-of-field classification, as of December 31, 2015, Rosneft proven hydrocarbon reserves stood at 34,465 mmboe (4,654 mmtoe). The Company’s hydrocarbon reserves growth accounted 488 mmboe (59 mmtoe). Reserves growth …
Rosneft: Interested in Saudi Aramco Privatization
Oil giant Rosneft is interested in the privatization of Saudi Arabia’s national petroleum company Saudi Aramco, according to Rosneft CEO Igor Sechin who made the statement at the International Petroleum Week forum in London. “We are very interested in possible privatization of Saudi Aramco and we would support such a …
Igor Sechin: Supply and Demand to Converge by the End of 2016
The head of Rosneft, the Kremlin-controlled oil company, has blamed ‘robot’ traders and producers in the Middle East and US for crushing oil prices, in a sign Moscow is unlikely to back calls for coordinated output cuts with OPEC. Igor Sechin, the close ally of president Vladimir Putin and Rosneft …
Platts: Sanctions Not Affecting Russia As Deeply As Planned – Drilling Volumes Up Significantly
International sanctions against Russia introduced in 2014 turned out not to be the bogeyman they first seemed to be, and could in fact have played a key role in helping the Russian oil sector to not only handle the sharp price drop over the last year and a half, but …
Rosneft and Statoil Commence Well Testing at the North-Komsomolskoye Field
Rosneft and Statoil commenced testing of two production wells of highly viscous oil of the PK1 layer of the North-Komsomolskoye field. The companies are implementing pilot operation of the horizontal wells constructed using best practices related to inflow control and consolidation of entrained solids. Average starting flowrate amounts to75 t …
Rosneft and GE Develop Joint Manufacturing in Russia
Rosneft and General Electric signed a long-term cooperation program. The document involves construction plan of joint ventures for production of marine, oil and gas, and electrical equipment to ensure timely construction and commissioning of production facilities. In particular, Rosneft and GE will continue their cooperation in developing ship-building projects of …
RN-Uvatneftegaz: Starts Oil Production at the Zapadno-Epasskoye Field
RN-Uvatneftegaz, a Rosneft subsidiary, started commercial oil production at Zapadno-Epasskoye field, a new field of the Uvat project. The field is located 250 km away from the village of Uvat within the Ust-Tegussky license area. Its recoverable oil reserves amount to over 17 mln mt. Currently the field’s well stock …
Rosneft: ONCG Videsh Takes 15% of Vankorneft
Rosneft and ONGC Videsh Limited signed an Agreement of Confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC “Vankorneft”. The document was signed in the presence of the President of Russia Vladimir Putin and the Prime Minister of …