Russia & CIS ///

Rosneft, CNPC agree on wider E&P cooperation

Rosneft and the Chinese National Oil and Gas Corporation (CNPC) signed the Agreement on Cooperation in Exploration and Production in the Russian Federation in the framework of the IV Eastern Economic Forum.

Gazprom Neft, CNPC partner to develop enhanced oil recovery technologies

Gazprom Neft and China National Petroleum Corporation (CNPC) have entered into a technical partnership at the Eastern Economic Forum. The document was signed by Alexander Dyukov, chairman of the Gazprom Neft management board, and Wang Yilin, chairman of CNPC.

Lukoil expands production capacity at Yarega field

Lukoil has commissioned a steam generation farm at Yarega field of highly viscous oil in the Republic of Komi. The facility is to build up production as part of Yarega area Phase 2 development.

Russia's gas giant surpassed by its smaller rival

Imagine a decade from now, U.S. giant Exxon Mobil Corp. has been knocked from its perch as the world’s largest oil company by its rival from tiny Portugal -- about 20 times smaller. It seems unlikely, but something equally strange has just happened in Russia.

Gazprom Neft, Mubadala Petroleum and RDIF to jointly develop oil fields in Western Siberia

Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) have announced the completion of a transaction establishing a joint venture to develop oil fields in the Tomsk and Omsk Regions of Western Siberia.

PetroNeft reports successful coring, logging operations at Cheremshanskoye No. 4 well

PetroNeft, an oil and gas exploration and production company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licenses 61 and 67, has announced that it has successfully cored, logged and open-hole tested the J1-1 and J1-3 intervals of the Cheremshanskoye No.4 (C-4) well in License 67.

LNG heads out the door as Asia outbids European utilities

Northwest European liquefied natural gas terminals are for the first time exporting more of the fuel than they are feeding into the region’s pipeline networks.

Caspian Sea breakthrough treaty set to boost oil, pipeline plans

Five Caspian Sea states reached a breakthrough agreement on sovereign rights to the sea, paving the way for new oil and gas extraction -- and pipelines -- after more than two decades of disputes.

New products and services

Michele Cowart, World Oil

Plenty-brand screw and vane pumps from SPX Flow are engineered to pump heavy viscous fluids, and are ideal for forced lubrication of rotating machinery and fuel transfer processes.

Yamal LNG begins gas exports from second LNG train

Total announces that the first shipment of Liquefied Natural Gas (LNG) from the second train of the Yamal LNG project in Northern Russia is ready to leave Sabetta.

U.S. sanctions may put Russian oil production at risk

The new U.S. sanctions placed on Russia may put the country’s longer-term crude production potential at risk.

Rosneft sets cash-flow record as Russian oil hits sweet spot

Rosneft PJSC posted record cash flow in the second quarter as Russian oil companies hit a sweet spot of rising crude prices and a weakening ruble.

Lukoil installs wellhead platform substructure at Vladimir Filanovsky field

Lukoil completed transportation and started installation of the substructure for the wellhead platform (mini offshore ice-resistant fixed platform) at Vladimir Filanovsky field, in the Caspian Sea.

Novatek spuds first well at North-Obskiy license area, in Ob Bay

PAO NOVATEK announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area, in the shallow waters of the Ob Bay. The initial well is drilled using a jackup floating drilling rig, Amazon, leased from Gazprom flot.

Lukoil takes FID on Rakushechnoye project, in the Caspian Sea

Lukoil took the final investment decision on the Rakushechnoye field development project in the Caspian Sea.

Trump says U.S. will compete with Russia for European gas market

U.S. President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week.

Iran touts Russia's plan to invest in its oil with sanctions looming

Iran said Russia is ready to invest as much as $50 billion in its oil industry even as Western majors are pulling out of deals with the republic amid the threat of U.S. sanctions.

Full-scale development of Yamal’s Kharasaveyskoye field to start in 2019

Alexey Miller, chairman of the Gazprom Management Committee, held in Bovanenkovo (Yamal-Nenets Autonomous Area) a meeting on the pre-development project for the Kharasaveyskoye gas and condensate field and the gas transmission system.

Petro Matad spuds Snow Leopard-1 well in Mongolia

Petro Matad, the AIM quoted Mongolian oil explorer, has advised that the Snow Leopard-1 well (Petro Matad 100%) in the Taats basin of Block V spudded on July 9, 2018.

Companies in the news

Michele Cowart, World Oil

Akofs Offshore has been awarded a contract for light well intervention services, using its 156-m vessel, Akofs Seafarer, for all Equinor-operated licenses, in the period 2020 to 2025.