BP: Purchases 20% of Taas-Yuryakh Neftegazodobycha LLC from Rosneft
Rosneft and BP announce the completion of the transaction to sell a 20 per cent share of Taas-Yuryakh Neftegazodobycha LLC to the British company. The joint venture between Rosneft and BP based on Taas-Yuryakh Neftegazodobycha LLC will continue further development of the Srednebotuobinskoye oil and gas condensate field which is …
Rosneft: 9M Results – 16% Increase in Revenue with Improved Credit Profile
Commenting the results for 9M 2015, I.I. Sechin, Chairman of Rosneft Management Board, said: “Despite of challenging economic environment, the Company keeps improving its efficiency. This is demonstrated by keeping operating costs in rouble terms at sustainable level in conditions of 12.0% increase in industry prices. Preserving the cost base …
Rosneft: Q3 Results – Production Up 1.4%, Drilling Up 32.6%
Upstream – Daily HC production increased by 1.4% up to 5.14 mboed in 9M 2015 – Increase in drilling meterage by 32.6% in 9M 2015. Share of horizontal wells in total fund exceeded 30% – Fourfold growth rate of 2D seismic resulted from active works in Arctic region – Sustainable …
RN-Exploration and ExxonMobil Declared Winners of the Mozambique License Round
RN-Exploration (100% Rosneft subsidiary) and ExxonMobil Exploration and Production Mozambique Offshore Limited were declared winners for 3 blocks in the fifth license round organized by the Republic of Mozambique Institute of National Petroleum (Instituto Nacional de Petróleo). The global partnership of Rosneft and ExxonMobil is of a strategic nature, the …
Rosneft and the Ministry of Foreign Affairs Signed an Agreement of Cooperation
Rosneft and the Ministry of Foreign Affairs of the Russian Federation signed an Agreement of cooperation. The document was signed by Rosneft Chairman of the Management board Igor Sechin and the Minister of foreign affairs of Russia Sergey Lavrov. The agreement will allow boosting the level of coordination between Rosneft, …
MSU Microbiologists Identify 100 Oil Decomposing Microorganisms Suitable for Use in Northern Seas
Under a contract with Rosneft to create a microbial medication for northern seas signed in 2014, scientists of Moscow State University’s biological faculty have identified about 100 microorganisms able to decompose oil and petroleum products at low temperatures including below zero ones. Over one year, more than 250 samples of …
Rosneft Brazil: Completes Solimoes Project Purchase
Rosneft Brasil and Petro Rio S.A. (PetroRio) announce the closing of the Rosneft Brasil transaction to acquire PetroRio’s 55% in the Solimões project. Closing follows formal approval of the transaction by ANP (Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis – Brazil). The finalization of the transaction will lead to …
Rosneft Drills a Record-breaking Well in Venezuela – Depth 347m Horizontal Section 1,500m
Rosneft, as part of a PetroMiranda JV including PDVSA and Gazprom Neft, has drilled an unprecedented horizontal well GG1-14 at the Junin-6 block. The well is unique for the shallow depth, only 1,140 feet or about 347 meters, of the reservoir interval and the length of horizontal section 4,920 feet …
GlobalData Analyst: US/EU Sanctions Could Lead to Restructuring of Russian Oil and Gas Industry
While Russia is continuing to pump crude oil at record levels, producing on average 10.685 million barrels per day in 2015, the continuous pressure from US/EU sanctions is having an impact on the strategic course of Russian oil and gas industry, says an analyst with research and consulting firm GlobalData. …
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 …