Rosneft: To Form Rosneft Gaz to Compete with Gazprom?
A Rosneft representative refused to comment on the possible creation of a gas offshoot, Rosneft Gaz. One of the sources explained that “the idea to spin off company’s businesses has been discussed.” State-owned Rosneft plans to spin off its gas business into a subsidiary, Forbes reported citing sources aware of the situation.According to the sources, …
NADL: Confirms Framework Delay
On August 22, 2014 North Atlantic Drilling Ltd. announced that it had entered into a Framework Agreement between NADL, Seadrill and Rosneft Oil Company (“Rosneft”). On November 7, 2014, the closing of the transaction was delayed until the end of May 2015. Today, all parties have mutually agreed to extend …
Rosneft Delays NADL Rig Deal Till 2017
Rosneft and North Atlantic Drilling Limited have agreed to extend the termination date of the Framework Agreement signed on August 20, 2014 until May 31, 2017. Additionally, the parties have agreed to renegotiate the terms and characteristics of the transactions contemplated in the Framework Agreement and the terms of the …
RPI: Offshore Field Development in Russia: Are the Sanctions an Opportunity for Russian Companies to Fill the Void?
Vadim Kravets In mid-February 2015, the third round of EU sanctions targted a number of Russian officials and nine new companies were introduced. Previously, in late summer and early autumn 2014, the U.S., EU, Japan and Canada introduced, in two rounds, sanctions againstw certain individuals and sectors of Russia’s economy …
Rosneft: Improving Well Completions – Sealing Wellbore Leakage
B. A. Erka (Doctor of Science), A. V. Khabarov, N. A. Gerasimenko Tyumen Petroleum Research Center Because of the growing volume of hard-to-recover reserves in the portfolios of operating companies, and due to drilling deeper wells in more complex geology (development of oil rims) we are facing more and more …
The ROGTEC Interview: Martin Rylance, BP Engineering Manager, Fracturing & Stimulation, and Global Senior Advisor
Your title would suggest an active role in all play types as well as BP´s exploration activities. Please describe your role in the company and your goals. My role can be summarised as ensuring that all of BP’s pumping operations, fracturing, stimulation, chemical, intervention e.t.c. are coordinated within one team …
Rosneft: Q1 Gas Production Up 19.7%
Consolidated Rosneft gas production in the first quarter increased by 19.7% compared to the same period last year and amounted to 15.8 BCM. Thus, the Company is among the three largest producers of natural gas in Russia and continues to hold a leading position in terms of growth and efficiency …
Russian Offshore to Open Up?
Ask most people about Russian oil and gas production, and they’re likely to bring up the two giants: Rosneft and Gazprom. But private companies are possibly in a position to see their roles change in the country’s oil landscape, as Rosemary Griffin describes in this week’s Oilgram News column, Regulation …
Sakhalin-1 Sets Another Extended Reach Drilling Record at Chayvo
Rosneft as part of Sakhalin-1 Consortium has successfully completed drilling of the world’s longest well at the Chayvo field. O-14 production well was drilled with Orlan drilling platform in direction of the field’s south-eastern point. The well has the world-record measured depth of 13,500 meters and a horizontal reach of …
Eurasia Drilling Company: 2014 Results – Drilled Metres Down 9.5%, Margin Up to 14.1%
Eurasia Drilling Company Limited,the leading onshore & offshore drilling service provider in the CIS, today announced its consolidated financial results for the year ended December 31, 2014, prepared in accordance with US GAAP. The audited Consolidated Financial Statements for the twelve months ended December 31, 2014, and Management’s Report on …