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LUKOIL DAILY HYDROCARBON PRODUCTION INCREASED BY 1.6% IN NINE MONTHS OF 2010

LUKOIL Group total hydrocarbon production available for sale reached 2,249 th. boe per day in nine months of 2010, which is a 1.6% increase y-o-y. Crude oil production by LUKOIL Group in nine months of 2010 totalled 72.27 mln tons. Natural and petroleum gas output of LUKOIL Group available for …

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Fifth Annual Conference “Offshore Oil and Gas Equipment” to be held in Moscow on December 9

Fifth Annual Conference “Offshore Oil and Gas Equipment” to be held in Moscow on December 9 On December 9, Moscow will host the fifth annual conference, “Offshore Oil and Gas Equipment” (NEFTEGAZSHELF-2010) that will be attended by a delegation from OJSC “Gazprom”, headed by director of the offshore technologies department, …

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Cumulative production at Vankor reaches 15 million tons

Today Rosneft produced the 15-millionth ton of oil since the beginning of operation on Vankor field. The Vankor oil and gas field is located in the north of Krasnoyarsk Territory. Commercial oil production began in August 2009. 117 producing wells on 14 well pads deliver current daily production of 36,000 …

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Rosneft and CNPC expand cooperation

Rosneft and China National Petroleum Corporation (CNPC) signed a memorandum on expanding cooperation in the upstream sector. The document was signed by Rosneft’s President Eduard Khudainatov and General Director of CNPC Jiang Zemin within the Russian-Chinese energy dialogue held on November 22-23 in St. Petersburg. Rosneft and CNPC will consider …

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Polarcus orders two new high-end 3D seismic vessels 4

Signed shipbuilding contracts for two 14-streamer 3D seismic vessels Total estimated project CAPEX of USD 168 million per vessel Optimized vessel size for cost effective operations Timely delivery of both vessels in first half 2012 Highly favorable financial terms with 80% of project CAPEX payable at, or close to delivery …

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Excellent Performance of Weatherford LWD Triple Combo

Early in November, on the Urievsk oil field, Weatherford completed the first Russian engineering and technical maintenance operations during construction of horizontal well sections with the use of full range of 4 ¾ in. LWD Triple Combo (conventional assembly of three combined logging while drilling sensors). The operations were conducted …

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Baker Hughes Opens New Facility in Australia

Market growth drives need for operations base covering three service lines HOUSTON – November 17, 2010 –Baker Hughes (NYSE: BHI) announced today that it has opened a new facility in Welshpool, Australia, to meet growing demand and increased oilfield activity in Australia. Three of the company’s service lines–pumping services, tubular …

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Schlumberger Inaugurates Brazil Research and Geoengineering Center

Opens First Multinational Research Center Dedicated to Exploration and Production Activity in Brazil Schlumberger today inaugurated a new research and geoengineering center in Rio de Janeiro, Brazil. The Brazil Research and Geoengineering Center is designed to promote the integration of geosciences and engineering to improve hydrocarbon production and recovery from …

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LUKOIL PLEDGES COOPERATION WITH THE GOVERNMENT OF THE KOMI REPUBLIC

LUKOIL PLEDGES COOPERATION WITH THE GOVERNMENT OF THE KOMI REPUBLIC Vagit Alekperov, OAO LUKOIL President, and Vyacheslav Gaizer, Head of the Komi Republic, signed a Cooperation Agreement today between the Company and the Government of the Republic in Syktyvkar. According to the agreement, the parties will cooperate in the area …

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LUKOIL MAKES ADVANCE PAYMENT OF USD 1 BILLION UNDER USD 1.5 BILLION LOAN

Today LUKOIL Finance Ltd. (a wholly owned subsidiary of OAO LUKOIL) has made a partial advance payment under the 1.5 billion unsecured club facility (the “Facility”) arranged in August 2010, with the maturity of 1 year. The Facility was guaranteed by OAO LUKOIL. The advance payment of USD 1 billion …

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