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Russia & CIS, Oil & Gas News

  • BP: Q2 Results – A Challenging Environment July 28, 2015 - BP today reported its results for the second quarter of 2015. Underlying replacement cost profit1 for the quarter was $1.3 billion, compared with $2.6 billion for the previous quarter and $3.6 billion for the second quarter of 2014. The result reflected the impact of continued low oil and gas prices, ...
  • Bashneft: Alexey Teksler Appointed Chairman of the Board July 28, 2015 - Today, the Board of Directors of PJSOC Bashneft has elected Alexey Teksler, the First Deputy Minister of Energy, as Chairman of the Board of Directors in accordance with a directive from the Government of the Russian Federation. Alexey Teksler was born on January 19, 1973 in Chelyabinsk. In 1995 he ...
  • Statoil: Q2 Results – Earnings After Tax Down 37.5% July 28, 2015 - Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments. “In the second quarter, Statoil delivered encouraging operational performance with good production growth ...
  • KMG E&P: 1H Results – Production Up 0.3% July 27, 2015 - JSC KazMunaiGas Exploration Production announces its operating results for the first six months of 2015. KMG EP, including its stakes in Kazgermunai (“KGM”), CCEL (“Karazhanbasmunai”) and PetroKazakhstan Inc. (“PKI”), produced 6,122 thousand tonnes of crude oil (250 kbopd) in the six months of 2015, an 0.3% increase over the same ...
  • Urals Energy: Workover Proving Successful at Arcticneft July 23, 2015 - Urals Energy, the independent exploration and production company with operations in Russia, announces that all of the resolutions put to shareholders at the Annual General Meeting held in Cyprus earlier today were duly passed. The Company is pleased to announce the following update on its operations at Arcticneft and Petrosakh. ...
  • ROGTEC September Issue – Fracturing Technology Roundtable Deadline Looming! July 23, 2015 - Click Here to download the questions! Does your company provide fracking equipment or services, or do you target the companies that do? If the answer is yes to either of these questions, purchasing an advert to run in this feature or answering these questions is guaranteed to get your marketing message to ...
  • GE and Statoil Collaboration Announces Winners of Inaugural Unconventional Open Innovation Challenge July 22, 2015 - GE and Statoil’s Sustainability Collaboration announced today the five winners of its inaugural Open Innovation Challenge that focused on addressing the use of sand in unconventional operations. Five Winning Technologies Address Alternatives for Sand in Shale Development: Sand plays a critical role in shale development and the hydraulic fracturing process. ...
  • Petroneft: Horizontal Wells Boosting Production July 22, 2015 - PetroNeft an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of License’s 61 and 67 is pleased to provide an update on operations at Licence 61. Highlights Tungolskoye T-503 horizontal well brought online at sustained rate of over 550 ...
  • Rosneft: Delivers First Production Well for the East-Messoyakha Field July 21, 2015 - Rosneft and Gazprom Neft have completed early the project to build the first production well at the East-Messoyakha deposit, which is part of the Messoyakha cluster, the northernmost of the known Russian onshore oil fields. The project is part of the joint drilling program implemented by the two companies. The ...
  • KazPetro Drilling Confirm Platinum Sponsorship of the 1st Kazakh Drilling Roundtable, taking place in Astana on the 17t September 2015 July 17, 2015 - The organizing committee are proud to announce that JSC KazPetro Drilling, the largest onshore drilling company in Kazakhstan, have become a Platinum Sponsor to the upcoming KDR. Specialist from KazPetro Drilling will be taking part in the discussion across all of the roundtable technology sessions, discussing ways in which to ...
  • Condor Petroleum: Spins Bit at KN-501 Primary Basin Well in Zharkamys West 1 July 17, 2015 - Condor Petroleum Inc. is pleased to announce that drilling operations have commenced on the KN-501 Primary Basin well on the Company’s 100% owned Zharkamys West 1 Territory in Kazakhstan. The KN-501 Primary Basin well is targeting 67 mmboe unrisked mean prospective resources and is planned to reach a depth of ...
  • Bashneft: H1 Results – Oil Production Up 12.4% July 16, 2015 - Oil production in Q2 2015 was 4,831 thousand tonnes, which is by 10.4% more than in Q2 2014. Strong growth of oil production in Q2 2015 was driven by 2,5% increase in production at brownfields — mainly due to commissioning of new wells and highly efficient geological and engineering operations ...
  • ENOC: Dragon Oil Should Aim for 90,000 bopd Not 100,000 bopd July 16, 2015 - Emirates National Oil Company Ltd (ENOC) L.L.C., as majority shareholder in Dragon Oil Plc provides further detail on its future strategy for Dragon Oil and further clarity on operational aspects of the business. Key points · Whether or not Dragon Oil is delisted, ENOC no longer sees the need to ...
  • Roxi Petroleum: Sidetracking Round Stuck Pipe at Deep Well A5 July 15, 2015 - Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to further update the market with news of progress at its flagship BNG asset. Deep Wells Deep Well A5 The well was spudded in July 2013 and drilled to a total depth of 4,442 meters ...
  • Tethys Petroleum: Provides AGR Energy Update and Pope Asset Management Share Subscription July 14, 2015 - Tethys Petroleum Limited is pleased to announce that, further to its announcement on July 1, 2015 in relation to the strategic collaboration with AGR Energy Holdings Limited (“AGR Energy”) and US$47.7 million financing (the “AGR Placing”), it has agreed with Pope Asset Management, LLC (“Pope”), the Company’s largest shareholder, that ...
  • Tethys: To Continue Exclusive Period with AGR Energy, Board Won’t Pursue Nostrum Offer July 14, 2015 - Tethys Petroleum Limited refers to its announcement dated July 13, 2015 confirming the approach made earlier that day by Nostrum Oil & Gas PLC (“Nostrum”) to the board of directors of Tethys (the “Board”) regarding a possible offer for the entire issued share capital of Tethys (the “Possible Offer”). The ...
  • Dragon Oil: Aiming for 100,000 bopd Average Daily Production in 2015 July 14, 2015 - Dragon Oil plc, an international oil and gas exploration, production and development company, today issues the following trading statement, which includes an operational update and financial highlights for the six months’ period ended 30 June 2015. All information referred to in this update is unaudited and subject to further review. ...
  • Rosneft and Statoil Completed Pilot Drilling at the North Komsomolskoye Field July 14, 2015 - Rosneft and Statoil ASA completed drilling works as part of the Pilot Project at the PK1 layer of the North Komsomolskoye field. During 2015 the companies jointly drilled 2 horizontal exploitation wells. Using best global practices Rosneft and Statoil ASA implemented extended logging, including core and fluid samplings. Also, for ...
  • Nostrum Oil & Gas: Approaches Tethys Petroleum July 13, 2015 - Nostrum Oil & Gas PLC (LSE: NOG) (“Nostrum”) announces that, following the recent announcements by Tethys regarding its strategic collaboration with and financing by AGR Energy, Nostrum has made a further approach to the Board of Tethys regarding a possible offer for the entire issued share capital of Tethys. Additionally, ...
  • Tethys Petroleum: Nostrum Declares Buyout Interest July 13, 2015 - Tethys Petroleum Limited acknowledges the announcement made today by Nostrum Oil & Gas PLC (“Nostrum”) regarding its approach to the Board of Directors of Tethys regarding a possible offer for the entire issued share capital of Tethys. Tethys confirms that such an approach from Nostrum has been received. There can ...

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 Parameter

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

  • ExxonMobil Confirm Participation at the KDR July 28, 2015 - We are pleased to announce that drilling specialist from ExxonMobil will be joining the roundtable discussions at the upcoming KDR, bringing vast international knowledge and experience to the forum. Related posts: RPI: Offshore Field Development in Russia: Are the Sanctions an Opportunity for Russian Companies to Fill the Void? Rosneft ...
  • Petro-Unit Confirm Silver Sponsorship at the 1st Kazakh Drilling Roundtable, taking place in Astana on the 17th September 2015 July 28, 2015 - The organizing committee are proud to announce that Petro-Unit LLP, a rapidly growing oil and gas service company in Kazakhstan, have become a Silver Sponsor to the upcoming KDR. Specialists from Petro-Unit will be taking part in specific roundtable sessions, discussing ways in which to improve the Kazakh drilling market ...
  • ROA/CIS Offshore: SOCAR Sending Delegation July 22, 2015 - The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. The official delegation ...
  • RAO/CIS Offshore 2015: Advanced Arctic and Shelf Development Technologies July 21, 2015 - 15-18 September 2015 RAO / CIS Offshore 2015 will gather in St. Petersburg, government representatives and specialists of domestic and foreign companies and leading scientists to discuss the most important issues of development of the Arctic and continental shelf. International Conference and Exhibition RAO / CIS Offshore is held since ...
  • RAO/CIS Offshore: Krylov Research Centre- To Present On Different Ice Depths for Offshore Platforms July 20, 2015 - The technical solutions for offshore production platforms for the different depths of the sea of the Russian shelf, developed by Krylov State Research Centre, will be presented at RAO/CIS Offshore Conference. Various types of architectural and structural floating and fixed structures are considered: platforms of the ship shape, of BUOY ...

Company News

  • NOV: Q2 Results – Revenues of $3.91 billion, a 19 Percent Decrease July 28, 2015 - National Oilwell Varco, Inc. (NYSE: NOV) today reported that for its second quarter ended June 30, 2015, it earned net income of $289 million, or $0.74 per fully diluted share, compared to first quarter ended March 31, 2015 net income of $310 million, or $0.76 per fully diluted share. Excluding ...
  • Exterran: Delays Comapny Spin Off Due to Market Conditions July 27, 2015 - Exterran Holdings, Inc. announced today that the previously announced private offering of senior notes by its subsidiaries has been withdrawn due to adverse market conditions. Consequently, the planned spin-off of its international services and global fabrication businesses into a stand-alone, publicly traded company named Exterran Corporation will be delayed. Exterran ...
  • Roxi Petroleum: Cancellation of Royalty July 24, 2015 - Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce it has entered into an agreement with Canamens Limited (“CL”) and Sector Spesit IV, a sub-fund of Sector Umbrella Trust (“SS4″) to cancel future royalty payments due to them from production from Roxi’s ...
  • KMG EP: Extends Ozenmunaigas’ Uzen and Karamandybas Subsoil Contracts July 24, 2015 - JSC KazMunaiGas Exploration Production (“KMG EP” or “Company”) is pleased to announce that addendum No.5 to contract No.40, dated 31 May 1996, has been signed to extend the contract for development of Uzen and Karamandybas oil fields of Mangystau Province between the Kazakh Ministry of Energy and Ozenmunaigas, where KMG ...
  • Weatherford Announces the Release of Revolution® Rotary-Steerable System July 24, 2015 - Weatherford International plc announced today the commercial release of its Revolution® rotary-steerable system (RSS) at the Unconventional Resources Technology Conference (URTeC). The ability to minimize risks and reduce time while drilling is integral for operators seeking to arrive at the production stage quickly and avoid future intervention. The new generation ...

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 ...