Rosneft CEO Igor Sechin addressed the International Petroleum (IP) Week forum in London, stating that the oil markets are in a fairly acute crisis. Image from Rosneft. “In the second half of 2014 there was a drop in oil prices…
AGR has secured a contract with LUKOIL Overseas to optimize the Russian firm's drilling performance. The contract covers LUKOIL’s drilling operations in several territories internationally, including Middle East, Black Sea, Africa and Central Asia…
A three phase asset management strategy could help counter costs, says ABB’s Will Leonard. In mid-December, the price of oil fell further after the International Energy Agency (IEA) forecast weaker demand in 2015. Brent crude fell to around US$60 a barrel…
Russia’s Gazprom announced plans to build a new LNG plant on the Baltic Sea on Thursday (22 January). The project, called Baltic LNG, will be built at Ust-Luga, in the Leningrad region, near the Gulf of Finland. It will be capable of producing 10 MPTA of LNG…
Schlumberger and Eurasia Drilling (EDC) entered into an agreement in which Schlumberger will acquire 45.65% interest in EDC in a US$1.7 billion deal. The agreement extends the successful long-term relationship enjoyed by the two companies within the strategic alliance signed in 2011…
ExxonMobil began production at the Arkutun-Dagi field, off Russia. Image of the Arkutun-Dagi topside. Arkutun-Dagi is part of the multi-billion-dollar Sakhalin-1 project, which also…
Gazprom Neft’s subsidiary, Gazpromneft Sakhalin has been awarded subsoil-use rights to two blocks in the Russian Arctic. Image from Gazprom Neft. The first block, the Severo-Zapadniy (North East) block is located on the Pechora Sea shelf…
Full Tensor Gravity Gradiometry (FTG) is aiding prospect evaluation in a formerly disputed zone of the Barents Sea, adjacent to the Norwegian-Russian border. Dr. Stephen Rippington, Dr. Neil Dyer, and Chris Anderson explain. Fig…
Arctech Helsinki Shipyard has moved into full Russian ownership after United Shipbuilding Corporation bought the other half of the company's shares from STX Finland. Finland based Arctech Helsinki Shipyard was founded in December 2010…
Gazprom has agreed to buyout its South Stream Transport partners Eni, Wintershall and EDF just weeks after the project, which was already in construction phase, was cancelled. South Stream Transport was owned 50% by Gazprom, with Eni holding 20%…
Russian gas giant Gapzrom is to work with state-owned RUSNANO, a nanotechnology technology commercialization outfit, to develop new technologies and help substitute imported products into Gazprom's production facilities. The firm has also signed agreements with Russian pipe manufacturers…
For Western-based service companies whose products or personnel were at work in the waters off the Russia, projects that were already complex by virtue of the location became substantially more so with the recent Western sanctions against the Russian Federation…
ExxonMobil received consent from the Petroleum Safety Authority Norway (PSA) to use the West Alpha semisubmersible drilling rig on the Balder field, in the central North Sea. The West Alpha. From North Atlantic Drilling…
Saipem received a 'notification of suspension of marine spread activities,' which covers all vessels currently engaged in activities related to Gazprom’s South Stream pipeline project, including the Saipem 7000 J-Lay vessel. Image…
Russian authorities confirmed the reserves in the Pobeda oil and gas field, located on the Kara Sea shelf, Rosneft announced. The field was discovered through the Universitetskaya-1 well. The gas reserves were discovered in the chalk deposits of Cenomanian Age and Apt-Alb Age…