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Russia & CIS, Oil & Gas News

  • BG Group: 2015 Fourth Quarter and Full Year Results February 5, 2016 - BG Group plc reported its 2015 Fourth Quarter and Full Year Results to the London Stock Exchange at 07:00 (UK time) on Friday 5th February 2016. For a full listing of the results please click here Related posts: Oil and Gas Climate Initiative: CEO’s Call For Climate Change Action Majors ...
  • Russian Gas Exports to Austria Grow by 76.2 Per Cent in January 2016 February 4, 2016 - The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Reinhold Mitterlehner, Austrian Vice Chancellor. The parties highlighted that the long-term strategic cooperation between Russia and Austria in the oil and gas sector had been successfully developing for many decades. A continuous increase was noted in Russian gas ...
  • Saipem Sues Gazprom Over Black Sea Gas Pipeline February 4, 2016 - Italy’s Saipem, which was hired by Gazprom to lay the undersea section of the South Stream gas pipeline, and then the Turkish Stream pipeline, has filed a lawsuit against a subsidiary of the Russian gas giant. Saipem S.p.A. filed a request for arbitration against South Stream Transport B.V. (now a ...
  • National Oilwell Varco Announces Fourth Quarter and Full Year 2015 Earnings February 3, 2016 - National Oilwell Varco, Inc. (NYSE:NOV) today reported fourth quarter 2015 net income of $85 million, or $0.23 per fully diluted share, excluding other items, down from $0.61 in the third quarter of 2015 on a comparable basis. Other items included pre-tax charges of $1,634 million for goodwill and other intangible asset write-downs, $139 million for restructuring and other charges (which ...
  • Wacker Neuson Group Expands its Executive Board February 2, 2016 - As of April 1, 2016, Jan Willem Jongert (51) will join the Executive Board of Wacker Neuson SE. In his new role as Chief Sales Officer (CSO), Mr. Jongert will be responsible for the global sales, service, logistics and marketing activities of the Wacker Neuson Group. New delineation of responsibilities ...
  • Petrosibir AB: New CEO in Petrosibir February 2, 2016 - As one of the final steps in the agreement between Petrosibir and Petrogrand the Board has appointed Dmitry Zubatyuk CEO of Petrosibir. The Board has also appointed the company’s current CFO Gunnar Danielsson deputy CEO. On 9 November 2015 extraordinary general meetings in Petrosibir AB (Petrosibir) and Petrogrand AB (Petrogrand) ...
  • KMG EP Announces Operating Results for the Year Ended 31 December 2015 February 2, 2016 - JSC KazMunaiGas Exploration Production  announces its full year operating results for 2015. KMG EP produced 12,351 thousand tonnes of crude oil (251 kbopd), including the Company’s stakes in Kazgermunai (KGM), CCEL (Karazhanbasmunai) and PetroKazakhstan Inc. (PKI), almost at the level of 2014. Ozenmunaigas JSC (OMG) produced 5,510 thousand tonnes (111 kbopd) ...
  • BP Realigns Senior Executive Team February 2, 2016 - BP today announced the appointment of Lamar McKay to the new position of Deputy Group Chief Executive. McKay, currently chief executive of BP’s Upstream segment and a 35-year veteran of BP, will be based in London and take up the role following a suitable handover period. McKay will be succeeded ...
  • Rosneft and GE Develop Joint Manufacturing in Russia February 1, 2016 - Rosneft and General Electric signed a long-term cooperation program. The document involves construction plan of joint ventures for production of marine, oil and gas, and electrical equipment to ensure timely construction and commissioning of production facilities. In particular, Rosneft and GE will continue their cooperation in developing ship-building projects of ...
  • Polarcus Announces Further Cost Reductions and Organizational Changes February 1, 2016 - Polarcus further improves its cost position with the announcement of additional headcount reductions and changes to the executive management team. The expanded cost reductions are part of a longer term plan which will continue to improve competitiveness while maintaining exceptional operational performance and sustaining positive operational cash flow. The plan ...
  • Novatek: Reserve Replacement Running at 148% in 2015 January 26, 2016 - OAO NOVATEK announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2015. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 12,817 million barrels of oil equivalent (boe), including 1,775 billion cubic ...
  • Gazprom and Pakistan Consider Possibility of Russian LNG supplies January 21, 2016 - The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Shahid Khaqan Abbasi, Minister of Petroleum and Natural Resources of the Islamic Republic of Pakistan. The parties considered promising areas of cooperation, particularly addressing the possibility of Russian LNG supplies to Pakistan ...
  • Petrogrand and Shelton Petroleum: AGM – Confirms Merger, Delisting and Dividend Plocies January 21, 2016 - Following the Extraordinary Shareholders’ Meetings in Petrogrand AB and Shelton Petroleum AB (currently Petrosibir AB) on 9 November 2015, the business combination of the two entities was completed in late December 2015. Shortly after the EGM, the Disciplinary Committee of Nasdaq Stockholm decided to delist both companies’ shares as of ...
  • RN-Uvatneftegaz: Starts Oil Production at the Zapadno-Epasskoye Field January 20, 2016 - RN-Uvatneftegaz, a Rosneft subsidiary, started commercial oil production at Zapadno-Epasskoye field, a new field of the Uvat project. The field is located 250 km away from the village of Uvat within the Ust-Tegussky license area. Its recoverable oil reserves amount to over 17 mln mt. Currently the field’s well stock ...
  • Gazprom and Shell Discuss Sakhalin II, LNG and Nord Stream II January 20, 2016 - St. Petersburg hosted a working meeting of Alexey Miller, Chairman of the Gazprom Management Committee with Harry Brekelmans, Maarten Wetselaar and Ronan Cassidy, Members of the Executive Committee of Shell. The parties addressed a variety of issues relating to the strategic cooperation between Gazprom and Shell. Touching upon the Sakhalin ...
  • Exillon Energy: Produces 15,298 bbl/day in December January 18, 2016 - 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 December 2015 (“the Period”). · Our average daily production[1] was 15,298 bbl/day during the ...
  • Ozenmunaigas: Fails to Secure MET Relief for the Uzen and Karamandybas Fields January 18, 2016 - KazMunaiGas Exploration & Production announces that Ozenmunaigas’ (“OMG”) request to temporarily have Mineral Extraction Tax (MET) relief for 2015, approved for the Uzen and Karamandybas fields in Mangystau Province, has not been approved by the Kazakh Government. In a low oil price environment, the Kazakh Government has the ability to ...
  • Gazprom: 2015 Results – Profit Up 21% – Mainly on Foreign Exchange Rates January 18, 2016 - 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 nine months ended September 30, 2015. The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS ...
  • Nord Stream II: EU Gas Demand Highlights Project Importance January 15, 2016 - The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Rainer Seele, Chairman of the OMV Executive Board. The parties discussed issues of cooperation, particularly addressing the Nord Stream II project. It was noted that the growth in demand for Russian gas ...
  • LUKOIL: Summarizes 2015 Achievements and 2016 Targets January 14, 2016 - The LUKOIL Board of Directors held a meeting in Moscow today to summarize the Company’s preliminary performance results in 2015 and set priorities for 2016 and the near-term outlook. The 2015 hydrocarbon production growth was attained through the implementation of large-scale projects in the Northern Caspian Sea, West Siberia, the ...

Latest Issue

Latest –

IGS Featured
Russia Upstream Magazine

New Achievements in Multilateral Drilling and Completions in Western Siberia, Part 1

CJSC “Investgeoservice” Damir Tuktarov, General Director; CJSC “Investgeoservice” Artur Gulov, Project Manager; JSC “NOVATEK” Evgeny Glebov, Deputy Director, Technology Department of Boreholes Technologies and Supervising; JSC “NOVATEK” Ivan Shokarev, Deputy Head, Technology Department of Downhole Borehole Technologies and Supervising; LLC “NOVATEK-Yurkharovneftegas” Alexander Kurasov, Deputy General Director – Drilling, Head of …

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Gazprom Neft Featured
Russia Upstream Magazine

Gazprom Neft Launches an Ambitious Programme to Improve Drilling Efficiency – The Technological Frontier

Sofia Zorina, Gazprom Neft Andre Ragouline, Vice President, RLG International Inc. Artem Borisov, Project Manager, RLG International Inc. Being technologically advanced is not just about using modern equipment and performing complex operations. It is also about the proper corporate culture which allows the organization to operate with maximum efficiency. Soon …

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Rosneft 1Featured
Russia Upstream Magazine

Orenburgneft: Forecasting Drilling Mud Loss through Interval Wellbore Pressure Testing

А. A. Voronin  (OJSC Orenburgneft)  [email protected] Introduction Based on experience, in almost all of the wells drilled in the Orenbourg region there is a mud loss issue at various intervals, where the probability of mud loss occurring, during drilling, is approximately 50%. Frac gradient data which is included into the …

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RPI Iran Featured
Russia Upstream Magazine

Iran – Craving Advanced Technology

Vadim Kravets In late October 2015, US President Barack Obama ordered the Government to prepare documents that would begin the process of removing the sanctions against Iran. The Iranian nuclear program will now be free from restrictions, yet the sanctions against cruise missile development will remain in force. The European …

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Rosneft 2Featured
Russia Upstream Magazine

TNNC: How Well Spacing Patterns Affect Production After Fracturing

D.R. Gilmiev, Ph.D., A.P. Kovalenko, Ph.D. (TNNC LLC) Introduction When designing and planning zonal stimulation activity program for oil reservoirs with hydraulic fracturing, one of the problems is the proper selection of wells for fracking. This issue was covered in several studies [1-3]. Among these, study one [1], based on …

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Featured new pic
Russia Upstream Magazine

Short-Term Well Operation (STWO) as Effective Method of Shale Oil Extraction

Kuzmichev N. P. Petroleum 21st Century LLC, Almetyevsk A surge in the production of shale oil in the United States over the past decade caused oversupply on the world oil market. Between 2005 and 2013, oil production rose from 5.18 million to 7.44 million barrels per day. In December 2014, …

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Rosneft 3Featured
Russia Upstream Magazine

Varyeganneftegaz: Increasing Production with Smart Well Completions

M.S.Kuvakina (Varyeganneftegaz JSC) Introduction Recently, Russian oil and gas companies have been actively implementing horizontal wells during field development. Such wells allow increasing the reservoir contact area with well, raising the production rates and performance, as well as increasing the oil recovery factor (OR) from the field as a whole. …

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Event News

  • SPE Enhanced Oil Recovery Workshop 25-26 February 2016 February 4, 2016 - Marco Polo Hotel, Moscow, Russia SPE Russian and Caspian Advisory Committee chaired by Vladimir Mulyak, LUKOIL, and Gokhan Saygi, Schlumberger, has decided to run a workshop on EOR. Workshop on this subject will take place in Russia for the first time and is scheduled on 25-26 February in Moscow. PAPER ...
  • Training Course Geomechanics Fundamentals 17-19 February 2016 Moscow, Russia February 4, 2016 - Registration Deadline: 10 February 2016 Instructor: NIKOLAY SMIRNOV This course provides understanding of necessary geomechanics basics and its applications in the oil and gas industry. This course covers the origin of earth’s stress and pore pressure in reservoir rocks, techniques and methods of assessment using well’s data; it gives good ...
  • SPE Russian Petroleum Technical Conference and Exhibition—Call for Papers is Open January 27, 2016 - SPE invites you to submit your abstracts for the SPE Russian Petroleum Technology Conference and Exhibition. The 2016 event will take place on 24-26 October in the World Trade Center Moscow, under the motto “In the middle of difficulties lies opportunity”, Albert Einstain. The Programme Committee is chaired by Stanislav Buchinsky of Tyumen Petroleum Research Centre, ...
  • Drillmec, McCoy Global and Postle Industries Return as Sponsors to the RDCR for the 4th Year Running! January 20, 2016 - The organizing committee are proud to welcome back three loyal clients to the 4th RDCR. Drillmec, a global contractor in the design and construction of drilling and work over rigs for the Onshore and Offshore Oil & Gas industries, return as Gold sponsors, Hardbanding Solutions by Postle Industries, a leading ...
  • Lukoil to Present at RDCR 2016 January 20, 2016 - The organizers are pleased to announce that Lukoil will be a making two presentations at the upcoming 4th RDCR, taking place at the Kempinski Baltschug Hotel in Moscow on the 13th April. Drilling experts from Lukoil will be presenting in both technology halls – looking at their ERD wells for ...
  • The Third Vallourec Annual Oil and Gas Technical Conference January 20, 2016 - Organizer: Vallourec www.vallourec.com Venue: Marriott Grand Hotel, Moscow Vallourec, a world leader in seamless pipe manufacturing, is organizing Oil and Gas Technical Conference in Moscow in April 2016 for major Russian drilling contractors and oil companies. This will be the third conference organized by Vallourec in Russia. After the successful ...
  • WITSML: Maximize It’s Potential with a Fundamental Class January 13, 2016 - Are you using Energistics’ WITSML data exchange standard but have questions about whether you are using it to its full potential? Or are you having difficulty just getting started? Energistics announces the WITSML Fundamentals class to help you get started using WITSML and to take advantage of available features and ...
  • KDR: English Version Video Launched December 15, 2015 - After a slight delay, the long awaited launch of the English version of the official video of the 1st KDR. Related posts: 1st KDR: Picture Gallery and Video Released KDR: SMARTEX DF Takes Gold Sponsorship Kazakh Drilling Roundtable: Latest Delegate List TCO Confirm Attendance and Presentation at KDR 2015 KDR ...

Company News

  • Weatherford Reports Fourth Quarter and 2015 Annual Results February 4, 2016 - Weatherford International plc (NYSE: WFT) reported a net loss before charges of $102 million ($0.13 net loss per share before charges) on revenues of $2.01 billion for the fourth quarter of 2015. GAAP net loss for the fourth quarter of 2015 was $1.21 billion, or a net loss of $1.54 per share. Full year revenue was down $5.5 billion and operating ...
  • Trican Well Service Reaches Agreement for Sale of Its United States Pressure Pumping Business and Amended Covenant Package With Its Lenders February 2, 2016 - Trican Well Service Ltd. (“Trican” or “the Corporation”) (TSX:TCW) is pleased to announce that it has entered into a definitive agreement with Keane Group, a privately-held, U.S. based well completion services company (“Keane”) for the sale of Trican’s United States pressure pumping business. The transaction involves the sale of the pressure ...
  • TMK Announces 4Q 2015 and FY 2015 Operational Results January 29, 2016 - In 2015, TMK shipped a total of 3,873 thousand tonnes of steel pipe, down 11.5% y-o-y. The decline was due to a significant drop in shipments in the American division, driven by a slowdown in drilling across the United States. In 4Q 2015, shipments were down 4.0% q-o-q to 938 thousand tonnes. In 2015, seamless pipe shipments fell by ...
  • Polarcus: Setting World Records – Largest Made Made Towing Object on Earth! January 21, 2016 - Polarcus is currently acquiring an ultra-wide 3D marine seismic project offshore Myanmar. Polarcus Amani is towing an in-sea configuration that measures 1.8km wide across the front ends. With each of the ten streamers separated by 200m, the total area covered by the spread is 17.6 sq.km. This is the largest ...
  • Petroleum Geo-Services ASA : Resilient MultiClient Performance – Q4 Non-cash Charges January 20, 2016 - Petroleum Geo-Services ASA (“PGS” or “the Company”) expects to report a full year 2015 EBITDA of approximately $485 million. For Q4 2015, the Company expects to report consolidated revenues of approximately $230 million and an EBITDA close to $120 million, excluding the charges and provisions described below. The Company achieved ...
  • Trican Well Services: In Talks to Sell US Pressure Pumping Business to the Keane Group January 13, 2016 - Trican Well Service Ltd. announces that it is in negotiations with Keane Group, a privately-held, U.S. based well completion services company (the “Purchaser”) for the sale of Trican’s United States pressure pumping business. Although talks are progressing, significant terms and conditions are still under negotiation. Accordingly, there can be no ...
  • Halliburton and Baker Hughes: Response to EU’s Phase II Review of the Acquisition January 13, 2016 - Halliburton Company and Baker Hughes Incorporated today noted the decision by the European Commission to initiate a Phase II review of Halliburton’s pending acquisition of Baker Hughes. This decision is a normal step in the Commission’s review process, and the views expressed by the Commission at this stage are preliminary ...
  • Serimax and Technip Enter into Pipeline Welding Strategic Partnership January 12, 2016 - Serimax, a Vallourec subsidiary, a world leader in offshore & onshore welding solutions, and Technip, a world leader in project management, engineering and construction for the energy industry, signed today an agreement in principle in order to achieve a strategic partnership in the domain of pipeline welding. In this respect, ...

Technology Focus

  • Weatherford Announces the Release of JetStream® RFID Circulation Sub October 8, 2015 - Weatherford International plc announced today the commercial release of JetStream® Radio Frequency Identification (RFID) circulation sub at the Annual Technical Conference and Exhibition. Poor wellbore integrity can cause events such as stuck pipe, wellbore collapse, sloughing shales and lost circulation, which are major concerns for drillers in deep water. The ...
  • SPX Hydraulic Technologies: Launches Two New Flange Spreader Kits September 25, 2015 - Two new additions to the SPX Hydraulic Technologies range of hydraulic spreader kits have just been launched onto the market. The Offshore and Topside flange spreader kits are the latest in the SPX Hydraulic Technologies FSL series of 15 ton (33,000 pounds) wedge driven spreaders. Used to create space for ...
  • Weatherford Expands Artificial-Lift Systems Portfolio with Sand-Tolerant Pump September 21, 2015 - Weatherford International plc today announced the addition of the sand-tolerant pump (STP) to the company’s artificial-lift solutions offering. Aimed to optimize the life of wells, slow production declines and reduce workovers, the STP is an alternative to standard rod pumps in wells with high sand production. The STP prevents abrasion ...
  • 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 ...