Offshore Russia News - page 18


Eurasia in private merger proposal

Oct 08, 2015

Less than a month after oil services giant Schlumberger dropped its merger deal with Eurasia Drilling Co. (EDC), the Russian company announced that it received another potential merger offer that could send Eurasia to the private sector. Image…

The case for US Arctic exploration

Oct 06, 2015

Arctic drilling has made headlines since the announcement of Shell’s 2015 summer drilling campaign. Paired with the low oil prices due to a surplus of supply, many people wonder why we even need to drill in the Arctic when there is so much oil right now…

Orgneftekhim standardizes AVEVA software

Sep 30, 2015

AVEVA announced that Orgneftekhim Holding, the parent company for a number of Russian engineering institutes and construction and procurement companies, has standardized on AVEVA Everything3D (AVEVA E3D) for all engineering and design projects…

GlobalData: Sanctions could lead to restructuring of Russian oil, gas sectors

Sep 30, 2015

While Russia is continuing to pump crude oil at record levels, producing on average 10.685 MMb/d in 2015, the continuous pressure from US/EU sanctions is having an impact on the strategic course of Russian oil and gas industry, says an analyst with research and consulting firm GlobalData…

Schlumberger axes Eurasia acquisition

Sep 24, 2015

Oil services giant Schlumberger is pulling the plug on its proposed US$1.7 billion acquisition of Russian drilling contractor Eurasia Drilling Co. (EDC) to focus on other merger and acquisition (M&A) opportunities.  The…

China's SRF to gain Yamal LNG stake

Sep 04, 2015

China’s Silk Road Fund (SRF) entered into an agreement with Russia’s Novatek to acquire 9.9% equity stake in the Yamal LNG project. Map of Yamal. From Total. Should the deal be approved…

COSL in Statoil, Rosneft drilling gig

Sep 02, 2015

Magadanmorneftegaz, Lisyanskmorneftegaz (joint ventures of Rosneft and Statoil) and China Oilfield Services Ltd. (COSL) signed a contract to drill two exploration wells in 2016. The wells will be drilled in the Magadan-1 and Lisyansky areas of the Okhotsk Sea…

Rosneft up in 2Q, down in 1H

Aug 31, 2015

Rosneft succumbed to a drop in revenue and net income for 1H 2015, however came out ahead in its 2Q 2015 results with an increase of as much as 150%. Image from Rosneft. Revenue for 1H came in at US$46…

Norwegian researchers obtain remote Arctic seismic

Aug 28, 2015

Two Norwegian polar researchers have returned from a project to collect seismic data over an area of the Arctic usually inaccessible to seismic vessels.  The pair, Yngve Kristoffersen and Audun Tholfsen, deployed their ice drift technique…

Second Gazprom Prirazlomnoye well onstream

Aug 21, 2015

After nearly two years, Gazprom Neft Shelf has brought its second well into production at the Prirazlomnoye field in the Russian Arctic. Image of the Prirazlomnaya field. From Gazprom. Prirazlomnoye is located in the Pechora Sea…

TAM restructures regional support

Aug 12, 2015

Image: TAM International TAM International has restructured its regional businesses into two individual hemisphere-based groups in order to achieve higher performance rates and streamline its business objectives…

Russian field added to US sanctions list

Aug 10, 2015

A Russian offshore gas and condensate field in the Sea of Okhotsk has been added to a US-sanctions list prompted by Russia's actions in Ukraine. The Yuzhno-Kirinskoye field, 35km northeast of Sakhalin Island and 6km southeast of the Kirinskoye field…

Russia seeks to extend Arctic territory

Aug 07, 2015

Russia's Ministry of Foreign Affairs earlier this week announced it had submitted a revised bid claiming 1.2 million sq km of Arctic sea shelf to the UN Commission on the Limits of the Continental Shelf (CLCS). The country's previous bid in 2002 were rejected for lack of evidence…

WoodMac: Russia OK with US$60/bbl

Jul 17, 2015

Wood Mackenzie has evaluated the competitive position of the three largest Russian oil and gas producers at US$60/bbl oil and their strategic action taken to date. In 2014, the Russian majors' share price performance was hit harder by…

Fugro completes monitoring system project

Jul 13, 2015

Fugro delivered a bespoke structural monitoring system for Exxon Neftegas, as operator for, and on behalf of, the Sakhalin-1 consortium, to monitor the structural integrity of its Berkut oil platform in the Arkutun Dagi field. Located…

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