Russia & CIS ///
Gazprom Neft subsidiary Gazpromneft-Yamal has announced plans to begin pilot operations at the Severo-Samburgskoye field, located in the Purovsky district in the Yamalo-Nenets Autonomous Okrug, in 2017.
Gazprom Neft has opened up a new field in Serbia with recoverable reserves in the order of 432,000 tonnes.
Halliburton Company has made a filing with the Federal Antimonopoly Service of Russia (FAS) in connection with a potential acquisition of an interest in Novomet Oil Services Holding Limited.
SOCAR (the State Oil Company of the Republic of Azerbaijan) and AIOC (the Azerbaijan International Operating Company) have signed a Letter of Intent (LoI) for the future development of the Azeri-Chirag-Gunashli (ACG) field in the Azerbaijan sector of the Caspian Sea.
INPEX is to enter the production phase at Ichyodinskoye oil field, the company said Wednesday.
Russian companies including Gazprom PJSC signed a raft of initial agreements with Iran that could lead to contracts worth billions of dollars, as Energy Minister Alexander Novak outlined Russia’s ambition to become a major investor in the Persian Gulf nation.
Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said.
Commodity trader Glencore and Qatar’s sovereign wealth fund agreed to buy a 10.2-billion euro ($11-billion) stake in Russia’s largest oil producer from the state in a triumph for President Vladimir Putin over sanctions imposed by the West.
Russia, the world’s largest energy exporter, held November output near a post-Soviet record, which is likely to remain a high-water mark in the near term after a pledge to cut production.
Russia has committed to cooperate with OPEC by cutting as much as 300,000 bpd from its oil output but offered no clear method for enforcement, creating uncertainty about how easily the reduction can be delivered.
OPEC ministers flew to Moscow and officials in Vienna launched another round of talks in an effort to salvage an agreement on production cuts, just as Saudi Arabia raised the possibility of leaving without a deal.
Saudi Arabia pulled out of planned talks with non-OPEC nations including Russia as disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days before a make-or-break meeting in Vienna.
Lukoil has brought a new facility for the treatment and gathering of oil into operation at Yaregskoye field in the Republic of Komi, Russia.
OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to Iran and non-members such as Russia as Iraq appeared to reverse its opposition to output cuts.
Kazakhstan’s authorities are looking at whether the Karachaganak oil and gas venture, which includes Royal Dutch Shell and Eni, has unpaid taxes.
For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it. Saudi Arabia, the bloc’s most powerful member, is beginning to think Moscow actually means it.
Lukoil has completed a third well, with a horizontal section measuring 1,217 m, at Vladimir Filanovsky field in the Caspian Sea.
Total and SOCAR, the national oil company of Azerbaijan, have signed an agreement establishing the contractual and commercial terms for the first phase of production from Absheron gas and condensate field.
Russia’s decision earlier this year to engage in talks with OPEC about limiting oil output has added more than 400 billion rubles ($6 billion) to the nation’s budget, according to two officials familiar with government calculations.
Parker Bestobell Marine, a supplier of cryogenic valves and part of Parker, has secured a nine-vessel order, worth $5 million, making it the company's single largest order, to date.