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Russia & CIS, Oil & Gas News

  • Emirates National Oil Company: Swoops for Dragon Oil at 735p Per Share May 22, 2015 - Following the announcement by Emirates National Oil Company, ENOC on 17 March 2015 confirming that it had made an approach regarding a possible offer for Dragon Oil, ENOC confirms that it has been in discussions with the independent committee of the board of Dragon Oil (the “Independent Committee”) regarding the terms ...
  • Tethys Petroleum: Secures AGR Energy Loan Plus Additional Financing From Pope Asset Management May 22, 2015 - Tethys Petroleum Limited is pleased to announce that in addition to the recently announced US$7.5 million convertible debenture financing, it has entered into an agreement in respect of the issue and sale of an additional convertible debenture as described below. Additional Convertible Loan Signed -- Financing: Unsecured convertible loan facility ...
  • Petroneft: Sibkrayevskoye Naturally Flowing at 100 bopd May 22, 2015 - PetroNeft an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, is pleased to provide an update on operations at Licence 61. Highlights Sibkrayevskoye Sibkrayevskoye No. 373 appraisal well flows 100 bopd (stabilised, unstimulated natural flow) and confirms 11.5 m net oil pay. Flow rates ...
  • BP Azerbaijan Suspends Operation at Oil Platform in Caspian Sea May 21, 2015 - BP, the operator of the project of developing the block of oil and gas fields Azeri-Chirag-Guneshli (ACG), has suspended the operation of Western Azeri platform to conduct the maintenance work, BP told Trend May 21. According to the plan, oil production from the platform has been suspended for about 22 ...
  • Gazprom: Exploration Activities Adds Over 800 Billion Cubic Metres of Gas May 21, 2015 - On the threshold of Gazprom’s annual General Shareholders Meeting the Company’s headquarters hosted today Press Conference “Mineral and Raw Material Base Development. Gas Production. Gas Transmission System Development”. Taking part in the Press Conference were Vitaly Markelov, Deputy Chairman of the Management Committee, Gazprom; Members of the Gazprom Management Committee: Oleg Aksyutin, Dmitry Lyugai, Sergey ...
  • Roxi Petroleum: Galaz Sale to Fund BNG Development May 20, 2015 - Further to the announcement of 10 February 2015, Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that  the sale of the Company’s equity and debt interests in the Galaz Contract Area  to a consortium led by Xinjiang Zhundong Petroleum Technology Co, ...
  • Statoil ASA: Annual General Meeting Approves Q4 Dividend of NOK 1.80 per Share May 20, 2015 - On 19 May 2015 the annual general meeting of shareholders in Statoil ASA (OSE: STL, NYSE: STO) adopted the annual report and accounts for Statoil ASA for 2014, as proposed by the board of directors. The annual accounts and the annual report for Statoil ASA and the Statoil group for ...
  • Petrogrand: Announces the Appointment of Lars Vilhelmson as Acting CFO May 20, 2015 - Petrogrand is pleased to announce the appointment of Lars Vilhelmson as acting CFO. Lars Vilhelmson has previously served as CFO at Petrogrand AB from January 2011 to August 2014. Lars has previously a background as CFO of Cool Carriers AB.   Related posts: Petrogrand: Completes 49% Acquisition of Ripiano Holdings ...
  • Petrogrand: Completes 49% Acquisition of Ripiano Holdings LTD May 20, 2015 - Petrogrand is pleased to make its first monthly production and operational update. The Company has completed the acquisition of 49% of Ripiano Holdings LTD. The daily production from Ripiano’s subsidiaries Dinyu LLC and CNPSEI LLC has increased to 1 675 bopd and the Company is reviewing options to further increase production ...
  • KMG EP: Approves the Revision of the 2015 Budget and Business Plan for 2015-2019 May 20, 2015 - JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) held its regular Board of Directors (“the Board”) meeting and the Annual General Meeting of Shareholders (“AGM”) on May 19, 2015. 2015 budget revision The Board of Directors approved the revision of the 2015 budget and business plan for 2015-2019. Production ...
  • Shelton Petroleum: Q1 Results – Turnover and Profit Down, Margin Steady at 7% May 20, 2015 - Operating margin 7% despite significantly lower oil prices Total revenue for the period: SEK 19 (32) million Operating result for the period: SEK 1 (9) million Operating margin: 7% (29%) Basic earnings per share: SEK 0.04 (0.55) Diluted earnings per share: SEK 0.04 (0.53) Oil production Q1 2015 Q1 2014 ...
  • Terneftegas Launches the Termokarstovoye Field May 20, 2015 - OAO NOVATEK announced today that Terneftegas, a joint venture between NOVATEK (51%) and Total (49%), formally launched the Termokarstovoye gas and gas condensate field into commercial production. The field is expected to reach its planned daily production level equivalent to approximately 2.4 billion cubic meters of natural gas and 0.8 ...
  • Rosneft Sets Another Drilling Speed Record May 19, 2015 - Another record of commercial drilling speed at the continental part of Russia was set at Ust-Tegusskoye field of RN-Uvatnefregaz, a Rosneft subsidiary. 2849 m – deep controlled directional well No.2948 was drilled in 7.5 days with the drilling speed of 11441 MTR/RIG per month. This rate extends the uppermost figures ...
  • Gazprom Neft: Reports IFRS Financial Results For 1Q 2015 May 19, 2015 - Gazprom Neft has published its consolidated financial results for 1Q 2015, prepared in accordance with International Financial Reporting Standards (IFRS). The increase in crude oil production and product sales via premium channels drove an 11.1% (93.4 RUB bln) increase year-on-year in adjusted EBITDA*. Lower global prices for crude and oil ...
  • Rosneft Brasil: Purchases 55% of The Solimões Project for $55m May 18, 2015 - Rosneft Brasil (100% owned Rosneft subsidiary) and PetroRio (the new brand of HRT Participações em Petróleo S.A.) announce the signing of the Rosneft Brasil transaction to acquire PetroRio’s 55% in the Solimões project. Closing will follow formal approval of the transaction by ANP (Agencia Nacional do Petroleo, Gas Natural e ...
  • Tethys Petroleum: Q1 Results May 18, 2015 - Tethys Petroleum Limited today announced its Results for the quarter ended March 31, 2015. Q1 Financial Highlights (all figures reported in USD millions) — Oil and gas revenue of USD5.95m (2014: USD6.78m) — Gas revenue increased 97% to USD4.71m (2014: USD2.39m) — Production expenses down 31% to USD2.61m (2014: USD3.79m) ...
  • Gazprom: Proposes Dividend of RUB 7.2 a Share May 18, 2015 - The Gazprom Board of Directors addressed the issues associated with arranging and holding the Company’s annual General Shareholders Meeting. The Board resolved 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 the Meeting participants is to be carried out on June 24 (from 10:00 am to 5:00 pm) and on June 26 (from 9:00 am). The ...
  • Gazprom Interview with Vitaly Markelov May 18, 2015 - Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee answers the questions posed by the Gazprom Magazine. Year results Mr. Markelov, how much gas and liquid hydrocarbons did Gazprom produce in 2014? In 2014 the volume of gas production totaled 443.9 billion cubic meters, which is 43.5 billion cubic meters less than ...
  • Lundin Petroleum: Secures Production License for the Morskaya Field in the Russian Caspian Sea May 18, 2015 - Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that Rosnedra, the Russian licensing authority has issued a production licence for Morskaya field located within the Lagansky Block in the Russian part of the Caspian Sea. The production licence is valid until 2035 and covers approximately 50 km². The Morskaya ...
  • Naftagaz Produces RDCR 2015 Video – Take a Look here! May 14, 2015 - Naftagaz, Platinum Sponsor to the recent RDCR held on the 9th April at the Kempinski Baltschug Hotel in Moscow, have released a video focussing on the event and the benefits they received from sponsoring and attending. Whether you attended the 3rd RDCR or not – this video is well worth ...
  • Shelton Petroleum: Produces 23,300 Barrels in April May 13, 2015 - Shelton Petroleum’s total oil production in April 2015 amounted to 23,300 barrels, equivalent to 777 barrels per day. Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. Shelton Petroleum has a 45% working interest in Kashtan Petroleum (holder of the license to the Lelyaki oil field) through its wholly ...
  • LUKOIL Starts Production Tests At Facilities For Kandym Early Gas Project In Uzbekistan May 13, 2015 - LUKOIL has begun production tests of two Gas Treatment Plants (GTPs) at the Northern Shady Site and the Kuvachi-Alat Field in Uzbekistan’s Bukhara Region as part of the Kandym Early Gas Project, which is being implemented together with National Holding Company Uzbekneftegaz. The GTPs have a combined annual capacity of ...
  • Exillon Energy: April Unaudited Production at 17,037 bbl/day May 13, 2015 - Exillon Energy plc, a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora and West Siberia, is pleased to announce unaudited production data for the month of April 2015. · Our average daily production[1] was 17,037 bbl/day during the period. · Average daily production for ...
  • Surgutneftegas: Denies Rosneft Share Acquisition May 13, 2015 - Given the recent publications in national and foreign mass media with reference to the Bloomberg news agency regarding the allegedly intended acquisition of Rosneft shares by OJSC “Surgutneftegas” the press-centre of OJSC “Surgutneftegas” declares that the contents of the above mentioned publications have no grounds whatsoever. Rumors being spread, in ...
  • Gazprom and CNPC Sign Heads of Agreement for Gas Supply Via Western Route May 12, 2015 - The Gazprom Management Committee Chairman Alexey Miller and the CNPC Vice President Wang Dongjin signed today in Moscow the Heads of Agreement for pipeline gas supply from Russia to China via the western route. Inked in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping, the document outlines the main technical and commercial parameters of 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 againstw 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

  • ADIPEC 2015 Focuses on Innovation as Energy Industry Looks to Meet Growing Global Demand May 21, 2015 - Energy Sector Needs to Invest in Sustainability and Innovation to Meet 37 Percent Higher Global Demand Anticipated by 2040 World’s Landmark Oil and Gas Event Announces New Dedicated Offshore & Marine Exhibition and Conference The Middle East’s energy industry needs to invest in innovation and sustainability initiatives to meet increased ...
  • Early registration for OSIsoft EMEA Users Conference 2015 is open… don’t miss out! May 18, 2015 - The OSIsoft EMEA Users Conference is now open for registration! Register by July 3rd to: Take advantage of early bird registration and hotel pricing Confirm a seat in one of the six Roundtable Workshops (space is limited!) Get the best selection of TechCon hands-on labs Save an early registration Outlook calendar reminder ...
  • SPE Digital Field Management Workshop Will Take Place June 2-4 in St.Petersburg May 7, 2015 - SPE announces and cordially invites all interested specialists to take part in second SPE Digital Field Management Workshop on June 2-4 2015 in St. Petersburg. First workshop was successfully held in June 2013 and covered various aspects of Digital Field management. 2015 Technical Program includes: Digital field – general vision ...
  • 2nd Hard to Recover Oil Technical Conference – Have You Registered? April 30, 2015 - Hard to Recover Oil Russia is a one day technology conference looking at the advanced fracing, drilling and reservoir engineering technologies that are being provided by the leading service companies, vendors and contractors to help develop Russia’s tight and hard to recover fields. The event is running on the 21st ...
  • Vallourec hold Second Technical Conference in Moscow April 29, 2015 -   Vallourec, a world leader in seamless pipe manufacturing, held a technical conference in Moscow on April 14, 2015. This was a second conference organized in Russia by Vallourec. This year the event took place in Marriott Grand Hotel in the center of Moscow. Markus Renner and Nina Molochkova gave ...

Company News

  • TMK ANNOUNCES 1Q 2015 IFRS RESULTS May 22, 2015 - The following contains forward looking statements concerning future events. These statements are based on current information and assumptions of TMK management concerning known and unknown risks and uncertainties.   OAO TMK, one of the world’s leading producers of tubular products for the oil and gas industry, announces today its unaudited ...
  • Sibur and Siemens AG Sign Cooperation Agreement May 21, 2015 - The Russian petrochemical group Sibur and the German company Siemens have signed a cooperation agreement in Moscow today. The signing ceremony was attended by Executive Director of Sibur, Vladimir Razumov and the President of Siemens in Russia, Dietrich Moeller. The agreement aims to develop partnerships for the implementation of joint projects. The parties plan ...
  • Northern Offshore: First Quarter Results Exceeded Our Expectations May 21, 2015 - Northern Offshore Reports First Quarter 2015 Results Northern Offshore, Ltd. (Oslo Børs: NOF.OL) today reported net income for the three months ended March 31, 2015, of $5.9 million, or $0.04 per diluted share, on revenues of $44.6 million. The Company generated adjusted EBITDA of $14.1 million in the first quarter ...
  • EIA Launches Redesigned International Energy Portal May 19, 2015 - Today, the U.S. Energy Information Administration (EIA) launched a redesigned International Energy Portal to improve  access to international energy data and trends in global energy markets. The portal can be viewed at: http://www.eia.gov/beta/international/ “With most of the future growth in energy consumption expected to occur outside of the United States ...
  • DNV GL’s Unmanned, Solitude, FLNG Concept Boosts Safety And Reduces Costs May 19, 2015 - DNV GL has developed a new unmanned floating LNG concept that overcomes many of the challenges currently faced by those looking to unlock the potential of remote offshore gas fields. Called Solitude, the concept demonstrates how technological advances – most of the technology already within reach – can be combined ...

Technology Focus

  • 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 ...
  • Weatherford: Launches SecureView – Well Integrity Cased-Hole Wireline Evaluation Suite May 5, 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, ...
  • TAM International Introduces a Premier Cementable Toe Sleeve April 22, 2015 - TAM International, Inc., an independent oilfield services company providing inflatable and swellable packers, introduces new technology as part of their PosiFrac® product line. The TAM PosiFrac® Toe Sleeve (PTS) assembly is designed for cemented or uncemented completions where a casing pressure test is desired to confirm casing integrity prior to ...