Banner 750 x 100



Uncategorized

Smith Bits Introduces New Drill Bit for Shale Drilling

Smith Bits announced today the release of its Spear* shale-optimized steel body polycrystalline diamond compact (PDC) bit. The Spear drill bit is specifically designed for shale plays to efficiently drill a curve and a long lateral hole section for faster penetration rates in low hydraulic energy environments. “The Spear bit …

READ MORE →
Uncategorized

Gazprom Neft’s Board of Directors completes ongoing business review

An ordinary meeting of the Board of Directors of Gazprom Neft took place on 25 February in St. Petersburg, during which the company’s current business activities were examined. The Board took notice of progress made in implementing measures for Gazprom Neft’s exit from the oil service business. The decision to …

READ MORE →
Uncategorized

FMC Technologies Announces Executive Management Succession

FMC Technologies, Inc. (NYSE:FTI) announced today that Peter D. Kinnear will be succeeded by John T. Gremp as President and Chief Executive Officer effective March 1, 2011. Additionally, Mr. Gremp has joined the Company’s Board of Directors. Mr. Kinnear will continue in the role of Chairman of the Board until …

READ MORE →
Uncategorized

First e-procurement portal for oil and gas industry to be presented in Radisson Slavyanskaya Hotel on March 15

The new e-procurement portal for oil and gas procurement specialists will be presented at the sixth annual conference , “Oil and Gas Industry Supply Chain”, in Moscow on March 15. Prom-oil  is the first professional Russian-language website for procurement professionals from of the oil and gas industry. The website contains …

READ MORE →
Uncategorized

TATNEFT Continues Development of their Vehicle Satellite Monitoring System

OAO Tatneft continues to equip motor vehicles with satellite monitoring systems, which is one of the areas of the Company’s resource-saving activities. As of the beginning of 2010, such systems were additionally installed at 1390 transport vehicles and the total number amounted to 7,715. Implementation of the satellite monitoring system …

READ MORE →
Uncategorized

KMG EP increased reserves replacement ratio

КаzМunaiGas Exploration Production (“КМG EP” or the “Company”) today announces results of the annual reserves audit, as at 31 December 2010. According to the report by the independent energy consulting firm Gaffney, Cline & Associates (“GCA”), proved plus probable (2P) reserves excluding the stakes in JV Kazgermunai LLP, CCEL and PetroKazakhstan Inc. were …

READ MORE →
Uncategorized

TOPAZ COMMENCES PLANNED EXPANSION INTO BRAZIL

Topaz Energy and Marine (‘Topaz’), a leading international oilfield services group, today announced that it has agreed to acquire two offshore supply vessels in Brazil based on a total delivered price of $40.4 million. The vessels, Sea Otter and Sea Marten, were built in 2007 and 2010 and are both …

READ MORE →
Uncategorized

Shtokman Presentation of the environmental aspects of the Shtokman project implementation at RF Federal Council

On February 17, 2011, a round table session “Environmentally Safe Engineering and Process Solutions for Offshore Oil and Gas Fields Development in the Barents Sea” was held at the Federal Council. The round table was attended by Sergey Mironov, Chairman of the Federal Council of RF Federal Assembly, Victor Orlov, …

READ MORE →
Uncategorized

Rosneft fully replaced its oil reserves in 2010

According to the audit results, as of December 31, 2010, Rosneft had estimated net proved reserves of 22,765 mln boe, which include 18,110 mln bbl (2,487 mln tonnes) of oil and 27,931 bcf (791 bcm) of gas under the PRMS classification. In 2010 the oil reserve replacement ratio was 106%. …

READ MORE →
Uncategorized

Tethys Petroleum Uzbek Well Flows Over 1,100 Barrels of Oil per Day

Tethys Petroleum Limited (“Tethys” or the “Company”) (TSX:TPL) today announced the initial results of testing on the NUR96H2 horizontal development well at the North Urtabulak field in Uzbekistan. The well has now been tested at over 1,100 barrels of oil per day (bopd) and is now being put on production. …

READ MORE →