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Russia & CIS, Oil & Gas News

  • Statoil Committed to End Routine Flaring by 2030 April 17, 2015 - Statoil and several other oil companies and nations joined together today to commit, for the first time, to end the practice of routine gas flaring at oil production sites by 2030. CEO Eldar Sætre represented Statoil at the signing at the World Bank in Washington together with Norwegian foreign minister ...
  • Almost Three Million Barrels Of Arctic Oil Delivered From the Prirazlomnoye Field April 17, 2015 - The Kirill Lavrov tanker has delivered a new batch of ARCO arctic oil to Europe in its sixth shipment of oil. More than 2.9 million barrels of oil have been extracted from the Prirazlomnoye oil field since production began. The Kirill Lavrov and Mikhail Ulyanov Arc6 class double-hulled icebreaking oil ...
  • Volga Gas: Mikhail Ivanov To Step Down, Andrey Zozulya to Become CEO April 17, 2015 - Volga Gas plc, the oil and gas exploration and production group operating in the Volga region of Russia, is pleased to announce a new Board appointment and further directorate changes. Mikhail Ivanov has advised the Board of the Company that after 9 years of service as Chief Executive Officer of ...
  • Nord Stream – Reliable and Efficient Route of Russian Natural Gas Supplies to Europe April 17, 2015 - The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Jean-Francois Cirelli, Special Advisor to the Presidency of GDF Suez (Gas Supplies). The parties addressed the current issues and prospects for the cooperation deepening in the gas sector, paying special attention to ...
  • Roxi Petroleum: BOCO Take $20m usd Subscription April 17, 2015 - Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce it has entered into a subscription agreement to raise $20m at above the current market price. The Company has entered into a Subscription Agreement with BOCO (H.K.) Limited, (“BOCO”),whereby BOCO will subscribe for ...
  • Rosneft Delays NADL Rig Deal Till 2017 April 17, 2015 - 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 ...
  • Ruspetro: 2014 Results – Debt Down in Equity Swap, Ruble Devaluation Hurts, Plus Production Drop April 16, 2015 - Ruspetro plc, an independent oil and gas development and production company with assets in the Western Siberia region of the Russian Federation, announces today its results for the full year ended 31 December 2014, and an update on its operations to date. Financial Highlights - Successful completion of financial restructuring ...
  • Dragon Oil: Cheleken Production Up 23% yoy April 16, 2015 - Dragon Oil plc, an international oil and gas exploration, development and production company, today publishes an update on the drilling activity in the Cheleken Contract Area, Turkmenistan, and production numbers for 1Q and March 2015. Average gross production of approximately 88,700 barrels of oil per day (bopd) in 1Q 2015, ...
  • Gazprom Neft: Spins Chonsky Project Bits April 16, 2015 - Gazprom Neft has begun drilling of three exploratory wells at its Chonsky project in Eastern Siberia — one each at its Ignyalinsky, Vakunaysky and Tympuchikansky fields. Drilling of a further well at the Tympuchikansky block will begin within a month. Data obtained from further well testing will allow the clarification of geological models of the fields, allowing the various blocks to be subsequently ...
  • Gazprom: Looking to Maintain Global Gas Market Position April 16, 2015 - The Gazprom Board of Directors took notice of the information about new trends in the global energy sector and their possible impact on the world gas market structure. In order to evaluate the influence of such phenomena on the global gas market, the relevant stress-scenarios envisaging the conservation and development of the outlined mid-term and long-term trends, were formed and reviewed. The ...
  • Gazprom: Looking At More Stock Exchange Listings April 16, 2015 - The Board of Directors took note of the information about Gazprom’s activities aimed at gaining new stock markets for the Company’s shares. At present, Gazprom’s shares are listed on the Moscow and Saint Petersburg Exchanges as well as Russia’s over-the-counter market. The Global Depositary Receipts (GDRs) against the Company’s shares are traded on the London, Berlin and Frankfurt ...
  • Arcticgas Launches the Yaro-Yakhinskoye Field April 15, 2015 - OAO NOVATEK announced today that Arcticgas (a joint venture between NOVATEK and Gazprom Neft) launched the Yaro-Yakhinskoye field, which is the third field launched into commercial production by this joint venture. Thirty-seven (37) gas condensate wells have been drilled and the field’s infrastructure also includes a gas gathering network, a ...
  • Rosneft: Q1 Gas Production Up 19.7% April 15, 2015 - 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 ...
  • Anatoly Sorokin Heads Gazprom Gazobezopasnost April 15, 2015 - Anatoly Sorokin was born in the Orenburg Region in 1960. He graduated from Kuibyshev Polytechnic Institute in 1983, majoring in Technology and Comprehensive Mechanization of Oil and Gas Developments. From 1983 to 1993 and from 1994 to 1998 he worked for the Kholmogorneft Oil and Gas Production Directorate of Noyabskneftegaz. ...
  • Russian Offshore to Open Up? April 14, 2015 - 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 ...
  • Bashneft Boosts Production by 14.4% in the First Quarter of 2015 April 14, 2015 - Bashneft has released its preliminary operating results for the first quarter of 2015. – Average daily oil production amounted to 52.3 thousand tonnes – Production at brownfields added 4.7% year-on-year – New assets in Timan-Pechora and Western Siberia accounted for 12.6% of oil production – Gasoline output grew by 5% ...
  • Sakhalin-1 Sets Another Extended Reach Drilling Record at Chayvo April 14, 2015 - 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 ...
  • KMG EP: Takes Reserve Hit – 1P Down 16% April 14, 2015 - JSC KаzМunaiGas Exploration Production announces today the results of the reserves audit as at 31 December 2014 performed by independent consultant Miller and Lents, Ltd. at the Ozenmunaigas JSC (“OMG”), Embamunaigas JSC (“EMG”) and Ural Oil and Gas LLP (“UOG” where KMG EP holds a 50% stake) fields. According to ...
  • Tethys Petroleum: Q1 Gas Production – Highest for 3 Years April 13, 2015 - Tethys Petroleum Limited has provided a corporate update to shareholders. Highlights: — Q1 2015 gas production achieved was the highest quarterly gas volume in the last three years. — First sales under the new gas contract completed. — Tethys continues to actively progress the SinoHan transaction to completion through seeking ...
  • Urals Energy: Wins Komineftegeofizika Litigation April 13, 2015 - Urals Energy PCL, the independent exploration and production company with operations in Russia, announces an update on its litigation with Komineftegeofizika (“KNGF”). On 30 January 2015, the Company announced that it had won its case against the appeal made by KNGF in the matter of its outstanding loan to KNGF, ...
  • Novatek: Q1 Results: Gas Production Up 4.7%, Combined Liquids Up 46.2% April 13, 2015 - OAO NOVATEK reported today preliminary operating data for the first quarter 2015. NOVATEK’s sales production totaled 16.15 billion cubic meters (bcm) of natural gas and 1,991 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in natural gas production by 0.73 bcm, or by 4.7%, and ...
  • Gazprom and PwC Address Cooperation Prospects April 13, 2015 - The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Dennis Nally, Chairman of PricewaterhouseCoopers International Limited. The parties looked at the issues of rendering information and consultancy services to Gazprom in various sectors of business development. Special consideration was given to ...
  • Gazprom and Total Target High Potential of Exploration Activities in New Bolivian Blocks April 10, 2015 - The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Patrick Pouyanne, Chief Executive Officer and President of the Executive Committee of Total. The parties addressed the core issues of the bilateral cooperation, giving attention to the current status of the agreements ...
  • Gazprom: Proposes RUB 7.20 per Share Dividend April 10, 2015 - The Gazprom Management Committee addressed the issues associated with preparing and holding the Company’s annual General Shareholders Meeting. The Management Committee approved the proposal to convene the annual General Shareholders Meeting of Gazprom at 10:00 am (local time) on June 26, 2015 at the Company’s headquarters in Moscow. Registration of ...
  • Exillon Energy: Produces 16,401 bbl/day in March April 10, 2015 - Exillon Energy plc, a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), is pleased to announce unaudited production data for the month of March 2015 (“the Period”). · Our average daily production[1] was 16,401 bbl/day during the ...
  • Petrogrand: New Board, New MD – Dmitry Zubatyuk April 10, 2015 - At the extraordinary shareholders’ meeting in Petrogrand AB (publ) held on 10 April 2015 it was resolved that the board of directors for the period until the next annual shareholders’ meeting is to consist of five ordinary members without deputy members, to replace all board members and to elect the ...

Latest Issue

Latest

RPI Issue 40 Featured
Russia Upstream Magazine

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 against certain individuals and sectors of Russia’s economy …

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Rosneft Cement Featured
Russia Upstream Magazine

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 …

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Energy Aspects Issue 40
Russia Upstream Magazine

Gazprom & Russian Gas Production Overview & Future Developments Part 2

In part 2, we conclude the article by looking at the production outlook, including market risks.  (Click here for Part 1) Production Outlook While the discussion above points to considerable upstream activity, much of the expected production increments in the coming years come from either the Nadym-Pur-Tazovsky Region (existing fields still …

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RT Issue 40 Featured
Oil Gas Technology RoundtablesRussia Upstream Magazine

Technology Roundtable: Drill Bits

1. The crash in the oil price has had a major impact on global oil and gas projects. Russia has also had to deal with sanctions and the exchange rate drop. What impact has this had on Russian demand for drill bits? How are you dealing with the situation? Halliburton: …

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Martin Rylance, BP Featured
Oil Gas Industry InterviewsRussia Upstream Magazine

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 …

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Eriell Issue 40 Featured
Russia Upstream Magazine

ERIELL Group: Direction Drilling at the Urengoy Field – Drilling Smarter

The ERIELL Group  has worked at the Urengoy Oil and Gas Condensate Field since the beginning of 2013. The first wells drilled were not successful, however, after reviews and a radical replacement of drilling technologies the wells were delivered within half of the contracted times. The construction complexity of subhorizontal …

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Rosneft March Featured1
Russia Upstream Magazine

Rosneft: Enhancing Oil Production in Mature Fields Through the Use of Mud Logging in Horizontal Wells

R. R. Minikeev, OOO “Petroviser” D. E. Golubkov, OAO “NK Rosneft” Introduction The main aim of the oil industry, at present, is to increase operational efficiency and increase production in mature fields. One way to achieve this is to drill lateral and horizontal wells and to combine this with the …

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Limberger Featured
Russia Upstream Magazine

Identifying the Real Structure of an Oil and Gas Reservoir and its Effect on Recoverable Hydrocarbon Reserves Part 1

Yuri A. Limberger, Independent Expert Summary An oil and gas reservoir structure is currently presented in a highly simplified form. It is assumed that all the intercommunicating (open) pores are filled with hydrocarbons and a residual water film. This concept of a reservoir model is used to process and interpret …

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Bamford Featured
Russia Upstream Magazine

Exploration Over the Last Ten Years, and the Next Five

David Bamford, Petromall Ltd On the occasion of ROGTEC’s 10th anniversary, I would like to step back and reflect on Exploration since the magazine’s dawn, and over the immediate future. It is very clear that the Majors failed to discover adequate new reserves last year – a good summary can …

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Event News

  • International Conference Oil and Gas Horizons 2015 Will Be Held From 24th to 26th November April 17, 2015 - This year the student chapter of SPE is running is organizing the 7th annual international scientific and practical conference “Oil and Gas Horizons 2015” at Gubkin Russian State University of Oil and Gas. Conference will be held from 24th to 26th November. Organizers of this conference are actively working on ...
  • Yamal Oil & Gas 2015 April 16, 2015 - YAMAL OIL & GAS 2015 is the only annual conference of global importance, which takes place in Yamal-Nenets Autonomous district and brings together more than 200 participants, including: more than 70 CEOs and top managers of Russian and international oil and gas companies, governors of local districts, government representatives, investors, world’s leading technology and equipment ...
  • LNG Congress 2015: Post Show Review April 16, 2015 - We would like to express our gratitude to the participants and partners of the 2nd international congress “LNG Congress 2015. Choosing development vector” organized by Vostock Capital. The event was attended by over 200 government officials and representatives of business and scientific communities. The evident success of the Congress is confirmed by excellent feedbacks received from our guests. On ...
  • Statoil Becomes Official Sponsor of the RAO/CIS Offshore 2015. April 15, 2015 - “Statoil” will be the official sponsor of the Conference and Exhibition RAO/CIS Offshore 2015. “Statoil” is a Norwegian multinational oil and gas company headquartered in Stavanger, Norway. It is a fully integrated petroleum company with operations in thirty-six countries. “Statoil” is the largest operator on the Norwegian continental shelf, with ...
  • 2nd Hard to Recover Oil Russia Technology Conference April 15, 2015 - As many of you will be aware, we have recently changed the name of our Unconventional Oil Russia Technology Conference. The new name will be the 2nd Hard to Recover Oil Russia Technology Conference. At TMG Events, we ensure that lines of communication are always open with the key stakeholders ...

Company News

  • Halliburton: To Sell Off Drill Bits, Directional Drilling and MWD/LWD Business Lines as Part of Baker Hughes Merger April 17, 2015 - Halliburton Company announced it will separately market for sale the company’s Fixed Cutter and Roller Cone Drill Bits, Directional Drilling and Logging-While-Drilling (LWD)/Measurement-While-Drilling (MWD) businesses. The final sale of these businesses will not be completed until we have reached acceptable terms and conditions negotiated by Halliburton, the approval of Halliburton’s Board ...
  • NADL: Confirms Framework Delay April 17, 2015 - 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 ...
  • TAM International: Colin Graham Appointed Norway Country Manager April 16, 2015 - TAM International, an independent oilfield services company providing inflatable and swellable packers to the oil and gas industry, has opened a new office in Norway to support the company’s current business and seek further growth. To support the company’s goals, Colin Graham has been appointed as Norway Country Manager and ...
  • TGS and Dolphin Team Up For Hammerfest Basin MCS April 16, 2015 - TGS announces that it has signed a joint venture agreement with Dolphin Geophysical (DOLP) to acquire 4,500 km2 3D multi-client seismic survey over the western part of the Hammerfest Basin in the Barents Sea. The survey will provide industry with broadband data over APA acreage not previously covered by modern ...
  • Eurasia Drilling Company: 2014 Results – Drilled Metres Down 9.5%, Margin Up to 14.1% April 13, 2015 - 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 ...

Technology Focus

  • Schlumberger: Launches ACTive OptiFIRE Coiled Tubing Real-time Selective Perforating and Activation System March 27, 2015 - ACTive OptiFIRE system enables selective perforating at different depths in a single run, saving time and operational costs Schlumberger announced today the release of the ACTive OptiFIRE* coiled tubing real-time selective perforating and activation system that enables perforating with coiled tubing (CT) fiber-optic real-time telemetry. The selective perforation process is ...
  • Schlumberger: Launches Coiled Tubing Real-Time Multiset Inflatable Packer March 26, 2015 - ACTive Straddle packer isolates and treats multiple zones on a single trip, reducing workover costs and improving treatment efficiency for production optimization Schlumberger announced today the release of the ACTive Straddle* coiled tubing real-time multiset inflatable packer. The packer provides all functions needed to isolate and treat multiple zones on ...
  • Weatherford: Launches TruFrac Composite Frac Plug March 24, 2015 - Weatherford International plc announced today the commercial release of its TruFrac® composite frac plug at the 2015 Intervention and Coiled Tubing Association (ICoTA) Conference and Exhibition in Booth 411. With a high level of reliability, the TruFrac® composite frac plug maximizes the efficiency of plug-and-perf completion operations by reducing time ...
  • Tenaris: Launches BlueCoil™ Coiled Tubing Technology March 23, 2015 - Tenaris will introduce its BlueCoil™ technology – the next generation of coiled tubing – at the annual Coiled Tubing and Well Intervention Conference and Exhibition on March 24-25 at the Woodlands Waterway Mariott Hotel and Convention Center. At booth 705, Tenaris coiled tubing experts will discuss the innovative BlueCoil™ technology, ...
  • DNV GL: New Sesam GeniE Sees Breakthrough in 3D Meshing for Engineers March 19, 2015 - With energy prices under pressure, the oil and gas industry is looking for new ways to improve engineering efficiency. DNV GL’s new Sesam GeniE 7 release saves significant time and cost with its new meshing capabilities, a breakthrough in engineering software for offshore and ship structures. When engineers use the ...