Arctic Exploration: Industry’s Cold Feet Begin to Thaw as Activity Hots Up
Mark Thomas The fact that the Arctic offshore contains huge estimated oil and gas reserves is nothing new, despite the relatively small amount of hydrocarbons currently being produced from its waters. But a gradual thawing in the arguments against why responsible exploration and development activity cannot take place has brought …
Rosneft Consolidates Stake in OJSC Vostsibneftegaz
Rosneft has increased its stake in OJSC Eastern Siberian Oil and Gas Company from 70.78% to 99.87% through the acquisition of shares from Montenore Investment LTD and from minority shareholders as part of a mandatory buy back offer procedure. The Company paid 9.3 billion rubles to consolidate its stake in …
Rosneft Closes Acquisition of 35.3% Stake in Taas-Yuryakh Project from Sberbank
Rosneft has closed a deal to acquire a 35.3% stake in Taas-Yuryakh Neftegazodobycha from Sberbank. The value of the deal was set to correspond to the historic cost of the project for Sberbank, equalling $444 million. Taas-Yuryakh Neftegazodobycha is the holder of oil production licences for the Srednebotuobinsk oil and …
Rosneft Appoints Vice President for Refining
Igor Pavlov was appointed Rosneft vice president for refining on March 11, 2012. Igor Pavlov has extensive experience in refining, having worked at Angarsk Petrochemical Company in 1989-2008 and as CEO of OJSC Achinsk Refinery in 2008-2012. Commenting on the appointment, Rosneft President Eduard Khudainatov said: “In implementing our large-scale …
Rosneft: Results of the Board Meeting
At a meeting of the Rosneft Board of Directors on March 5, 2012 it was decided that the next annual general shareholders’ meeting (on 2011 results) be held on June 20, 2012 in St. Petersburg. May 4, 2012 was set as the record date. The Board of Directors also set …
Rosneft Switching to IFRS Financial Reporting
Rosneft is to begin preparing its consolidated financial reporting in accordance with International Financial Reporting Standards (IFRS) starting from the first quarter of 2012. The Company previously compiled its financial reporting in accordance with US GAAP. Rosneft is switching to IFRS to meet the requirements of the federal law On …
Rosneft and ITERA Group Sign Strategic Cooperation Agreement
Rosneft and ITERA Oil and Gas Company have signed a strategic cooperation agreement for joint exploration and development of gas deposits in Russia. The agreement signed by Rosneft President Eduard Khudainatov and ITERA Oil and Gas Company Chairman of the Board of Directors Igor Makarov envisages the possibility of establishing …
Rosneft Holds Public Hearings on Seismic Research Programmes on Two Kara Sea Blocks
Public hearings were held in the city of Archangelsk to discuss seismic research programmes in the Kara Sea on two blocks licensed to Rosneft – East Prinovozemelsky-1 and East Prinovozemelsky-2 – which the Company is developing jointly with US oil and gas major ExxonMobil. Residents of Archangelsk and public organisations …
Rosneft: Reservoir Interpretation Increases Drilling Efficiency
R.I. Abdrakhimov, R.R. Galiyev, D.D. Suleymanov T.S. Usmanov, Chem.Dr. (LLC “RN-UfaNIPIneft”) I.S. Afanasyev, Physics-Math. Dr. (OJSC “NC “Rosneft”) Introduction The Neocomian section in Western Siberia was formed through the gradual lateral infilling of debris into a relatively deep sea basin. For most of the territory, the source of the debris …
Rosneft: The Final Frontier, Hydrocarbon Potential in the Eastern Arctic
N. A. Malyshev, Dr. of Geology and Mineralogy, V.V. Obmetko, PhD Geology and Mineralogy, A.A.Borodulin (Rosneft) Introduction Today, Rosneft’s activities cover most of the hydrocarbon producing regions of Russia: the Timano-Pechora oil and gas basin, the Volga territory, Northern Caucasus, East and West Siberia and the Far East. Along the …