Russia & CIS ///

Topaz secures contracts for Tengiz field in Kazakhstan

Topaz Energy and Marine, a leading offshore support vessel company, has secured substantial contracts in connection with the development of the Tengiz oilfield in Kazakhstan during 2016. The two contract wins announced in the second and third quarter together represent revenue of more than $500 million. The two contracts bring Topaz’s backlog to approximately $1.6 billion.

Topaz nets contract for Kazakhstan’s Tengiz development

Topaz Energy and Marine has been named as the technical manager of three vessels by a consortium comprising Blue Water Shipping and Kazmortransflot.

Gazprom discovers new gas field on Sea of Okhotsk shelf

MOSCOW – Gazprom has reported a new gas and condensate field in the Sea of Okhotsk, near Russia’s Sakhalin island.

Russia’s northernmost active oil field enters commercial production

Russia’s northernmost active oil field has entered commercial production.

ONGC Videsh raises stake in Vankor field in East Siberia

ONGC Videsh, a wholly owned subsidiary of India's Oil and Natural Gas Corporation, has signed definitive agreements with Rosneft to acquire an additional 11% stake in JSC Vankorneft, which is the owner of Vankor field and the North Vankor license.

Oil and gas in the capitals

Jacques Sapir, Contributing Editor

Is the Russian ruble more weakly linked to oil than before?

Kashagan field seen taking another decade to reach target

Kazakhstan’s giant Kashagan oil field has taken 16 years and more than $50 billion to bring to the verge of production. It could take another decade to reach its potential, with initial output at half the forecast level.

Condor Petroleum to begin production at Shoba oil field in Kazakhstan

Condor Petroleum Inc. has announced that the Shoba Production Contract has been executed with the Government of Kazakhstan, which provides for commercial production at the company’s 100% owned Shoba oil field.

Weatherford awarded two large completions contracts with supermajor

Weatherford has won two large contracts with a supermajor operator for sand screens and for upper completions products, including gas-lift equipment, chemical-injection equipment, subsurface safety valves (SSVs) and downhole measurement tools.

Saudi oil minister says no need now to freeze crude output

There is currently no need to limit oil output, Saudi Energy Minister Khalid Al-Falih said on Monday, after signing an energy agreement with his Russian counterpart Alexander Novak.

Stable oil price requires Saudi, Russian cooperation, prince says

HANGZHOU, China (Bloomberg) -- Global oil-market stability is impossible without the cooperation of Russia and Saudi Arabia, the world’s biggest crude producers, the kingdom’s influential deputy crown prince said, speaking with Vladimir Putin ahead of an OPEC meeting later this month.

Putin sees Rosneft sale as soon as this year to ease budget

Vladimir Putin said Russia is pushing ahead with plans to sell a fifth of Rosneft PJSC, the country’s largest listed oil producer, as the government seeks to cut its budget deficit.

Rosneft, BP and Schlumberger sign technology agreements

Rosneft, BP and Schlumberger have announced agreements for collaboration on seismic research and development.

Putin pushes for oil-freeze deal with OPEC, exemption for Iran

Vladimir Putin said he’d like OPEC and Russia, producers of half of the world’s oil, to reach a deal to freeze supply and expects the dispute over Iran’s participation can be resolved.

First Shah Deniz 2 platform jacket sent offshore

The Shah Deniz consortium said Thursday that the jacket for one of the Shah Deniz Stage 2 platforms sailed away from the Heydar Aliyev Baku Deepwater Jackets Factory (BDJF) for offshore installation.

Russia says oil output freeze not needed with price near $50

Russia sees no need for talks with other major oil exporters on freezing output with prices at around $50/bbl, according to the Energy Ministry in Moscow.

Rosneft CEO said to pitch $16-billion double deal to sway Putin

Rosneft PJSC chief Igor Sechin has come up with a proposal to expand his energy empire while helping critics in the Russian government meet their goal of reducing the widest budget deficit in six years.

Oil gives pause to Kazakhstan's wealth fund on asset sales

The crash in crude prices may have nudged Kazakhstan toward its biggest wave of privatization in history, but its wealth fund is now willing to bide its time for a recovery in oil to take hold.

Russia shelves $5-billion deal as asset sales hit snag

Russia is delaying what would have been its biggest asset sale in a decade, after plans were upended by renewed weakness in global oil markets and as two of the nation’s biggest crude producers expressed interest in the offering of shares in Bashneft PJSC.

Wood Group awarded $700 million contract by Tengizchevroil in Kazakhstan

Wood Group is providing main automation contractor services to Tengizchevroil (TCO) for the Future Growth Project-Wellhead Pressure Management Project at the Tengiz field in Kazakhstan.