AVEVA announced that Orgneftekhim Holding, the parent company for a number of Russian engineering institutes and construction and procurement companies, has standardized on AVEVA Everything3D (AVEVA E3D) for all engineering and design projects…
While Russia is continuing to pump crude oil at record levels, producing on average 10.685 MMb/d in 2015, the continuous pressure from US/EU sanctions is having an impact on the strategic course of Russian oil and gas industry, says an analyst with research and consulting firm GlobalData…
Oil services giant Schlumberger is pulling the plug on its proposed US$1.7 billion acquisition of Russian drilling contractor Eurasia Drilling Co. (EDC) to focus on other merger and acquisition (M&A) opportunities. The…
China’s Silk Road Fund (SRF) entered into an agreement with Russia’s Novatek to acquire 9.9% equity stake in the Yamal LNG project. Map of Yamal. From Total. Should the deal be approved…
Magadanmorneftegaz, Lisyanskmorneftegaz (joint ventures of Rosneft and Statoil) and China Oilfield Services Ltd. (COSL) signed a contract to drill two exploration wells in 2016. The wells will be drilled in the Magadan-1 and Lisyansky areas of the Okhotsk Sea…
Rosneft succumbed to a drop in revenue and net income for 1H 2015, however came out ahead in its 2Q 2015 results with an increase of as much as 150%. Image from Rosneft. Revenue for 1H came in at US$46…
Two Norwegian polar researchers have returned from a project to collect seismic data over an area of the Arctic usually inaccessible to seismic vessels. The pair, Yngve Kristoffersen and Audun Tholfsen, deployed their ice drift technique…
After nearly two years, Gazprom Neft Shelf has brought its second well into production at the Prirazlomnoye field in the Russian Arctic. Image of the Prirazlomnaya field. From Gazprom. Prirazlomnoye is located in the Pechora Sea…
Image: TAM International TAM International has restructured its regional businesses into two individual hemisphere-based groups in order to achieve higher performance rates and streamline its business objectives…
A Russian offshore gas and condensate field in the Sea of Okhotsk has been added to a US-sanctions list prompted by Russia's actions in Ukraine. The Yuzhno-Kirinskoye field, 35km northeast of Sakhalin Island and 6km southeast of the Kirinskoye field…
Russia's Ministry of Foreign Affairs earlier this week announced it had submitted a revised bid claiming 1.2 million sq km of Arctic sea shelf to the UN Commission on the Limits of the Continental Shelf (CLCS). The country's previous bid in 2002 were rejected for lack of evidence…
Wood Mackenzie has evaluated the competitive position of the three largest Russian oil and gas producers at US$60/bbl oil and their strategic action taken to date. In 2014, the Russian majors' share price performance was hit harder by…
Fugro delivered a bespoke structural monitoring system for Exxon Neftegas, as operator for, and on behalf of, the Sakhalin-1 consortium, to monitor the structural integrity of its Berkut oil platform in the Arkutun Dagi field. Located…
Gazprom handed Eni subsidiary Saipem a termination notice for the South Stream pipeline project to transport gas via a pipeline in the Black Sea. Image of South Stream pipelay. Images from Gazprom…
Kazakh state-owned KazMunayGas (KMG) and Italian giant Eni finalized commercial terms to move 50% of the suboil use rights of the Isatay block in the Caspian Sea to Eni. Image from Eni. Isatay…
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