WorldOil Petro Matad announces postponed drilling campaign in Mongolia, CEO search Petro Matad, the AIM quoted Mongolian oil explorer has provided an operational update. Gazprom Neft begins full-scale hydrocarbon prospecting of pre-Jurassic deposits Gazprom Neft has begun geological investigations in Paleozoic hydrocarbon deposits in the Tomsk Oblast. Thus far, the complex structure of the pre-Jurassic complex has not been deemed an independent geological prospect, investigations into which demand the modification of traditional prospecting methodologies. Azerbaijan, co-venturers sign amended PSA for Azeri, Chirag and deepwater Gunashli The Azerbaijan government and the State Oil Company of the Republic of Azerbaijan (SOCAR), together with BP, Chevron, INPEX, Statoil, ExxonMobil, TP, ITOCHU and ONGC Videsh today signed the amended and restated agreement on the joint development and production sharing (PSA) for the Azeri, Chirag fields and the deepwater portion of Gunashli field (ACG) in the Azerbaijan Sector of the Caspian Sea. Oil and Gas in the Capitals Hope for improved Russian-U.S. relations has evaporated, following a U.S. congressional vote and retaliation taken by the Russian government. China deepens oil ties with Russia in $9-billion Rosneft deal A closely-held Chinese oil company agreed to buy a minority stake in Rosneft PJSC for about $9 billion, deepening energy and political ties with Russia amid increasing tensions with the U.S. OPEC deal extension would benefit Russia, finance minister says Russia would benefit from extending the accord with OPEC to limit oil production, said the country’s finance minister. Rosneft, Statoil to move development of North-Komsomolskoye field into the next phase RN-Exploration and Production LLC, Rosneft subsidiary and Statoil Russia AS, Statoil ASA subsidiary, signed the shareholders and operating agreement at the Eastern Economic Forum. The document is signed with regards to SevKomNeftegaz LLC, an enterprise that will serve as a basis for a future North-Komsomolskoye joint field development. Gazprom, Mitsui ink framework agreement on small- and mid-scale LNG in Japan A working meeting between Alexey Miller, chairman of the Gazprom Management Committee, and Masami Iijima, chairman of the board of directors of Mitsui and Co., Ltd., took place at the Eastern Economic Forum 2017 in Vladivostok. Petrofac awarded $700-million contract on Sakhalin Island Petrofac has been awarded a contract worth more than $700 million by Sakhalin Energy Investment Company Ltd. for its onshore processing facility (OPF) on Sakhalin Island. New subsea construction vessel launched in Baku to support Shah Deniz Stage 2 The Shah Deniz consortium is pleased to announce the launch of the Khankendi - a new flagship vessel for the Caspian. The state-of-the-art subsea construction vessel has been specifically designed and built to install the biggest subsea production system in the Caspian Sea as part of the Shah Deniz Stage 2 project.