Rosneft Subsidiary Will Acquire Trican Well Service Subsidiary
The Rosneft subsidiary obtained approval from the Federal Antimonopoly Service of the Russian Federation to acquire Canada’s Trican Well Service LLC. The transaction is scheduled to close Aug. 20.
Rosneft Plans To Increase Oil Output
Rosneft oil production was slightly down last year to 4.1 million barrels per day (MMbbl/d) from 4.2 MMbbl/d in 2013, due to lower output at mature fields.
Russia’s Yuzhno-Kirinskoye Field Added To US Sanctions List
Adding the field to the list means license will be required for exports, re-exports or transfers of oil, Reuters reported. Field is in Sea of Okhotsk off the Siberian coast.
Delgado Becomes Head Of Russian Energy Fund’s Mexico Unit
Juan Manuel Delgado, formerly Schlumberger's chairman and executive director in Mexico and Central America, will handle L1 Energy's business development and future operations in Mexico and broader region, Reuters said.
Russia Resubmits Claim For Energy-rich Arctic Shelf
"The Russian bid covers underwater area of some 1.2 million square km extending for more than 350 nautical miles from the coast," the Russian Foreign Ministry said, Reuters reported.
Gazprom: Iraq’s Badra Oil Field Output Rises
The Gazprom Neft-led oilfield now produces around 35Mbbl/d, the company said, up from 27Mbbl/d to 28Mbbl/d in June, Reuters said. This is an increase of 25%.
Fugro Provides Integrity Monitoring System For Berkut Oil Platform
Located on the northeast coast of Russia’s Sakhalin Island, the Berkut oil platform is one of the world’s largest floatover platforms and is designed so that the topsides are isolated from the base using friction pendulum bearings, a news release said.
Chinese Participation In Russian Arctic Discussed
Russia struggles to speed up oil and gas exploration in resource-rich offshore Arctic areas due to Western sanctions restricting foreign companies from helping it tap the deposits, Reuters said.
Rosneft’s 55% Stake Purchase In Solimoes Basin Approved
In 2014, PetroRio transferred a controlling interest in Solimoes blocks to Rosneft, which struck deal with Petrobras to find ways to sell gas trapped in the remote Amazon, Reuters said.
Russian Daily Oil Production Stays At Post-Soviet High In June
Russian oil and gas condensate production hit the latest in a string of post-Soviet highs in March and has since stayed at that level, feeding exports and adding to a global glut preventing global oil prices from rising.