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Russia & CIS, Oil & Gas News

  • Max Petroleum: AGM Approves AGR Energy $13.8m Subscription September 1, 2015 - Max Petroleum announces that all resolutions proposed at its General Meeting held earlier today relating to the proposed US$13.8 million Subscription by AGR Energy were duly passed. The Subscription remains conditional upon, inter alia, the following Conditions being satisfied on or before 1 October 2015 (or as extended by the ...
  • Urals Energy: Tanker Leaves with 27,504 tons of Arcticneft’s Crude Oil September 1, 2015 - Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that the planned annual tanker shipment for export from Arcticneft on Kolguyev Island has been completed successfully. The tanker has left Kolguyev Island with 27,504 tons of crude (an equivalent of 217,282 barrels). ...
  • KDR: OMAC Integrated LLP Becomes a Silver Sponsor September 1, 2015 - TMG is proud to announce that OMAC-Integrated LLP has become a Silver Event Sponsor for the 1st KDR, Kazakh Drilling Roundtable, taking place in Astana on the 17th September 2015. With the second largest oil production among the former Soviet Republics after Russia, Kazakhstan is at the forefront of the ...
  • Gazprom: 1H Results – Profit Up 50% September 1, 2015 - Today PJSC Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the six months ended June 30, 2015. The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS ...
  • Rosneft Financial and Operating Results for Q2 2015: August 31, 2015 - Increase in daily HC production by 2.0% up to 5.15 mboed in H1 2015, increase in production drilling meterage by more than 30% Maintaining operating expenses per unit of 158 RUB/boe in two consecutive quarters in terms of industry inflation rate of 11.5% Sustainable positive free cash flow up to ...
  • Eni: Discovers Super Gas Giant at Zohr in Eygpt August 31, 2015 - Eni has made a world class supergiant gas discovery at its Zohr Prospect, in the deep waters of Egypt. The discovery well Zohr 1X NFW is located in the economic waters of Egypt’s Offshore Mediterranean, in 4,757 feet of water depth (1,450 metres), in the Shorouk Block, signed in January ...
  • LukOIL: 1H Board Review August 31, 2015 - The PJSC LUKOIL Board of Directors has reviewed the preliminary results for the first half of 2015 and progress in the realization of budget and investment programs for 2015, in Moscow today. As a result of geological exploration carried out by the company within the reporting period, the hydrocarbon recoverable ...
  • Tethys: Receives New Nostrum Offer But Will Also Pursue Other Offers August 28, 2015 - Tethys Petroleum Limited announces that following its press release on August 10, 2015 in respect of an approach from Nostrum Oil & Gas PLC (“Nostrum”), the Company has received a revised non-binding and highly conditional proposal from Nostrum setting out the terms on which Nostrum is prepared to make an ...
  • LukOIL: 1h Results – Production Up 4.8%, EBITDA Down 32.4% August 28, 2015 - LUKOIL has published consolidated US GAAP financial statements for the first half of 2015. In the first half of 2015, daily hydrocarbon production by the Group was 2,373 thousand boe per day (+4.8% y-o-y). Crude oil and natural gas liquids produced by the Group were 2,044 thousand barrels per day ...
  • Bashneft: Q2 Resulsts – Net Income Up to 17.9bn Rub August 28, 2015 - Today, Bashneft Group, which comprises PJSOC Bashneft and its subsidiaries and affiliates, has released its unaudited consolidated financial statements for the second quarter of 2015 and the six months ended June 30, 2015 prepared in accordance with International Financial Reporting Standards (IFRS). 2Q 2015 vs. 1Q 2015: – The Group’s ...
  • Petrogrand: Q2 and 1H Results August 28, 2015 - Second quarter of 2015 – Acquisition of 49% interest in Ripiano Holdings Ltd, with 3 producing oil fields in Komi in Russia. – During the second quarter, the Group had no operating income (-). The operating result for the second quarter amounted to TSEK -7 433 (-11 699). – The ...
  • Russia and China Aiming for Successful Conclusion of Negotiations on Western Route August 27, 2015 - Beijing hosted today working meetings among Alexey Miller, Chairman of the Gazprom Management Committee, Zhang Gaoli, First Vice Premier of China’s State Council and Wang Yilin, Chairman of the Board of Directors of China National Petroleum Corporation (CNPC). The participants addressed the issues of bilateral cooperation, particularly the preparations for ...
  • Gazprom Geologorazvedka Discovers New Deposits at the Imbinskoye Field August 27, 2015 - Two new hydrocarbon deposits in the Imbinskoye gas field were discovered by Gazprom Geologorazvedka, exploration operator in the Imbinsky license block of Gazprom (Boguchany District, Krasnoyarsk Territory). In compliance with the approved Geological Exploration Program, between 2010 and 2012 the company conducted 3D seismic surveys at the Imbinskoye field as ...
  • Kazakh Drilling Roundtable: Latest Delegate List August 26, 2015 - Have you ensured your attendance at the KDR 2015? You will be joining the following 62 companies that have already confirmed their delegations! Please click here to register as a delegate, or enquire about the limited sponsorship opportunities that remain. Review the list of companies who are attending the KDR, ...
  • Max Petroleum: Samek Int Receives Creditor Protection “Rehabilitation Process” and AGR Energy Subscription is Approved August 25, 2015 - Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, announces the following corporate updates: Acceptance of rehabilitation application for Samek International LLP Further to its announcement of 27 July 2015 regarding the initiation of a rehabilitation process under Kazakh law to provide its wholly owned ...
  • 2015 National Energy Report of the KAZENERGY Association August 25, 2015 - In 2016, crude oil prices will rise, on average, to about $63 per barrel and in 2020 to about $80 per barrel. Prior to 2035 the growth in demand for primary energy in the world is expected to average 1.3% per year and will be from 90 till 115 million ...
  • NOVATEK Board Of Directors Recommends 1H 2015 Dividend August 25, 2015 - OAO NOVATEK (“NOVATEK” or the “Company”) announced the results of its Board of Directors (“the Board”) meeting held today. The Board discussed the Company’s results for the first half 2015 and recommended to the Extraordinary General Meeting of Shareholders (“EGM”) convened on 25 September 2015 the size of the interim ...
  • Rosneft Closes the Transaction for the Acquisition of a Russian Oilfield Service Company from Trican Well Service Ltd. August 21, 2015 - A company of the Rosneft Group and a subsidiary of Trican Well Service Ltd. closed the transaction, pursuant to which a Rosneft subsidiary acquires a 100% participation interest in Trican Well Service LLC, which provides high-quality pressure pumping services focused on enhancement of production within the conventional oil and gas ...
  • Shelton Petroleum AB: Interim report January-June 2015 August 21, 2015 - Increased operating margin compared to the first quarter January – June 2015 – Total revenue for the period: SEK 42 (63) million – Operating result for the period: SEK 5 (15) million – Operating margin: 12% (23%) – Basic and diluted earnings per share: SEK 0.19 (0.70) April – June ...
  • Lukoil: Sells Caspian Investments Resources to Sinopec for USD 1,087 million August 21, 2015 - PJSC LUKOIL closed a deal to sell its 50% share in Caspian Investments Resources Ltd. to China-based Sinopec. The required permits from the state authorities of the Republic of Kazakhstan were acquired in late July 2015. According to the contract LUKOIL receives USD 1,087 million. Caspian Investments Resources Ltd. has ...

Latest Issue

Latest –

Roundtable 41 Featured
Oil Gas Technology RoundtablesRussia Upstream Magazine

Technology Roundtable: Extended Reach Drilling and Sidetracking

1. With sanctions impacting on the region´s horizontal drilling in unconventional field, what is the current level of demand for horizontal and ERD wells? What projects are you currently working on? Halliburton: Currently, the demand for horizontal directional drilling has not reduced; instead, it has increased significantly. Horizontal drilling, overall, …

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RPI Kazakhstan Featured
Russia Upstream Magazine

Kazakhstan Oil & Gas. 2014 Results and 2015 Industry Development Outlook

Introduction Among the FSU (former Soviet Union) countries, Kazakhstan has the second largest liquid hydrocarbon fields after Russia. According to the Republic of Kazakhstan State Commission for Mineral Reserves, the recoverable oil reserves in the country are estimated at 4.1 billion tonnes (30 billion barrels) including onshore fields (more than …

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GazpromNeft Featured
Russia Upstream Magazine

Gazprom Neft Implements Technology Strategy for Development of Non-conventional Reserves

Sofiya Zorina Development of the Bazhenov formation is one of the key strategic objectives of Gazprom Neft in the medium term.   Success in achieving this objective directly depends on the company’s technological development. In 2014 plans to develop non-conventional reserves which had been announced in Gazprom Neft some time …

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TNNG Featured
Oil Gas Industry InterviewsRussia Upstream Magazine

The ROGTEC Interview: Valeri Kurtbidinov, Chief Project Engineer at TNGG

The future of Urengoy region lies in the development of Achimov deposits. Last year, TyumenNIIgiprogas began working simultaneously on facility construction projects in Areas 2, 4 and 5. Today we interview Valeri Kurtbidinov, the projects Chief Engineer and design manager for the construction of the facilities at Areas 1 and …

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Skin Factor Featured
Russia Upstream Magazine

Identifying the Real Structure of an Oil and Gas Reservoir and its Effect on Recoverable Hydrocarbon Reserves Part 2

Yuri A. Limberger, Independent Expert The first part of this article (ROGTEC Issue 40) focused on the rationale, structure and proof of the actual existence of a fundamentally different model for the accurate estimation of an oil and gas reservoir. The second part focuses on the practical results using the …

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Skin Factor 2 Featured
Russia Upstream Magazine

Skin Factor: Relationships, Conclusions and the Formula for the Key Hydrodynamic Parameters

R. S. Mufazalov, NPF Timurneftegaz, City of Oktyabrskiy, Bashkortostan The area near the wellbore of an oil and gas formation is a very active and unstable zone. During the process of drilling the first well into the payzone, well completion, and the operations that take place during this process, the natural …

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SPT-Featured1
Oil Gas Industry InterviewsRussia Upstream Magazine

Closure Interview, Orlando Ramirez, CEO, Stockholm Precision Tools, SPT

Since its founding, in 1996, SPT has risen from start-up to a global supplier of downhole surveying tools. Tell our readers a little bit about the company and also your role within the organization? Since founding SPT, Stockholm Precision Tools, in Sweden in 1996, as CEO, I have been in …

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Event News

  • KDR: OMAC Integrated LLP Becomes a Silver Sponsor September 1, 2015 - TMG is proud to announce that OMAC-Integrated LLP has become a Silver Event Sponsor for the 1st KDR, Kazakh Drilling Roundtable, taking place in Astana on the 17th September 2015. With the second largest oil production among the former Soviet Republics after Russia, Kazakhstan is at the forefront of the ...
  • Kazakh Drilling Roundtable: Latest Delegate List August 26, 2015 - Have you ensured your attendance at the KDR 2015? You will be joining the following 62 companies that have already confirmed their delegations! Please click here to register as a delegate, or enquire about the limited sponsorship opportunities that remain. Review the list of companies who are attending the KDR, ...
  • TCO Confirm Attendance and Presentation at KDR 2015 August 19, 2015 - The organizers are pleased to announce that Tengizchevroil will be attending and making a presentation the upcoming KDR. As one of the leading operators in Kazakhstan, TCO are joining industry colleagues, government and academia to discuss the drilling challenges faced in the region. Antonio Rosada, Drilling and Completion Engineering Manager ...
  • World’s Top Energy Expert to Deliver Keynote Address at ADIPEC 2015 August 19, 2015 - Dr. Daniel Yergin to Present ‘Big Picture’ of Industry’s Future to Global Gathering of Petroleum Executives The world’s top energy expert, Dr. Daniel Yergin, has been confirmed to deliver the keynote address at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2015 later this year, one of the world’s ...
  • SPE Russian Petroleum Technology Conference. Day 3. August 17, 2015 - Dear Colleagues, SPE shares with you information about SPE Russian Petroleum Technology Conference (26-28 October 2015, Moscow) main events and invites you to register for the conference. Currently, when the conventional resources run low, all oil and gas companies turn to studying the unconventional reserves. If you are interested in this ...

Company News

  • Schlumberger and IBM Introduce New Service to Optimize Integrated Upstream Production Operations August 31, 2015 - Schlumberger and IBM today announced that they have teamed up to provide integrated services to upstream oil and gas customers that will improve the business impact of production operations projects. The offering combines Schlumberger’s production optimization services, upstream expertise, and industry-leading Avocet* production operations software platform with IBM’s enterprise asset ...
  • National Oilwell Varco: Appoints Jose Bayardo as Senior Vice President & Chief Financial Officer August 31, 2015 - National Oilwell Varco, Inc. announced today that Jose A. Bayardo has been named Senior Vice President and Chief Financial Officer of National Oilwell Varco, effective August 28, 2015. Mr. Bayardo succeeds Scott K. Duff, Interim Chief Financial Officer. Prior to joining National Oilwell Varco, Mr. Bayardo, age 43, served as ...
  • Centek: Announces Deepwater Division August 31, 2015 - Centek Group, the leading centralizer manufacturer, has formed a Deepwater Division to focus the sale and support of its specialist deepwater centralizer products. Today, drilling and completion account for around 50 percent of deepwater field development costs. As oil and gas production moves into deeper waters the technical challenges and ...
  • TMK: Wins 1.5bn Rub Contracts From Gazprom August 28, 2015 - TMK, one of the world’s leading producers of pipes for the oil and gas industry, took part in Gazprom tenders for premium tubular products. Following two public requests for proposals, TMK was announced the winning bidder in 8 out of 13 lots. In 3Q and 4Q 2015 TMK will supply ...
  • NADL: Q2 Results – Consolidated Revenues at $210.7 million August 27, 2015 - Highlights from the second quarter • North Atlantic Drilling generated second quarter 2015 EBITDA* of $119.3 million • North Atlantic Drilling reports second quarter 2015 net income of $44.2 million and earnings per share of $0.17 Subsequent events • North Atlantic Drilling secured a contract extension for the semi-submersible rig ...

Technology Focus

  • AGR: Launches iQx – Multi Disciplinary Well Data Software June 16, 2015 - iQx™ GEO, a revolutionary innovation for managing well data Global oil and gas service company AGR has released new functionality for its bespoke well data software, iQx™ that will improve the analysis of spatial well data from more than 6,000 wells drilled on the Norwegian continental shelf. The new GEO ...
  • Emerson: Launches Latest Roxar RMS June 16, 2015 - Latest version of Roxar RMS™ comes with new structural modeling, uncertainty management and well targeting tools, leading to greater operator confidence in reservoir economics, improved decision-making and a more productive workflow. Emerson Process Management has launched the latest version of its reservoir modeling software, Roxar RMS™. The new version – ...
  • Weatherford Announces Launch of SecureView Cased-Hole Wireline Evaluation Suite May 12, 2015 - Weatherford International plc announced today the commercial release of its SecureView® wireline cased-hole evaluation suite at the 2015 Offshore Technology Conference (“OTC”). As managing well integrity has become more critical across the industry, the ability to identify and mitigate risks is integral for all operators. The SecureView® suite provides single-trip, ...
  • Centek: Launches Deep Water Inter Casing Centralizer Sub May 8, 2015 - Centek is launching its Inter Casing Centralizer Sub (ICCS), designed to be run as part of a tight tolerance casing string in deepwater, ultra-narrow annulus applications. Centek and Halliburton collaborated in developing the ICCS. The body of the centralizer sub is machined to Centek and Halliburton’s exacting standards. Centek’s patented ...
  • M-I SWACO: Releases SCREEN PULSE – A New Fluid and Cuttings Separator May 6, 2015 - SCREEN PULSE separator delivers optimum efficiency and reduces overall drilling costs M-I SWACO, a Schlumberger company, announced today the release of the SCREEN PULSE† fluid and cuttings separator. Easily installed onto new or existing shale shakers, the fully pneumatic system delivers drilling fluid recovery of up to 30 bbl per ...