LUKOIL NVN: Installs Yuri Korchargin Wellhead Platform
LUKOIL has completed the installation of the wellhead platform’s topside as part of Yury Korchagin field Phase 2 development in the Russian sector of the Caspian Sea. The wellhead platform is a satellite platform designed to drill wells in the eastern part of the field. Drilling at Phase 2 is …
LukOIL: Produces Five Millionth Tonnes of Oil at the Yuri Korchagin Caspian Field
PJSC LUKOIL passed a 5 million tonnes (38.6 million barrels) mark in oil production at the Yuri Korchagin field in the Caspian Sea. Production at the field was launched in April 2010. Its proven oil reserves are 113 million barrels. In 2014, the field produced 1.5 million tonnes (11.3 million …
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 …
Eurasia Drilling Company: Results Pleasing in – Challenging Market Environment, High Geopolitical Tensions,Declining Oil Prices and Weakening Ruble
Eurasia Drilling Company Limited, the leading onshore & offshore drilling service provider in the CIS, today announced its operational and financial update for the nine months ending September 30, 2014. The financial data is based on management assessment only and has not been reviewed by external auditors. NINE MONTHS 2014 …
Outlook for Offshore Exploration in Russia up to 2025
Irina Chmeleva In recent months, the discussions about the impact of foreign companies and technology on Russian oil production have intensified at all levels. State officials, ranging from the President to various Ministers, have highlighted the need to boost domestic production of equipment in order to substitute imports. Given that …
EDC: 1H Results – Revenues Down, Income Down, Horizontal and Lukoil Drilling Metres Up
Eurasia Drilling Company Limited, the leading onshore & offshore drilling service provider in the CIS, today releases its Interim Consolidated Financial Results, prepared in accordance with US GAAP, for the six month period ended June 30, 2014. The reviewed 2014 Interim Consolidated Financial Statements for the six months ended June …
EDC Group: First Half Financials – Revenue Up 7.6%
Eurasia Drilling Company Limited, the leading onshore and offshore drilling service provider in the CIS, today released its Interim Consolidated Financial Results, prepared in accordance with US GAAP, for the six month period ended June 30, 2013. The reviewed 2013 Interim Consolidated Financial Statements for the six months ended June …
Problems and Solutions for Shelf Projects in the Caspian Sea, Black Sea and Sea of Azov
The Russian government views the southern shelf region as a crucial area of hydrocarbon reserves which should be developed in the near future. The offshore production will offset the production decline in the traditional oil and gas producing regions in Western Siberia and the Volga-Urals. However, the development of the …