Oil & Gas

March 16, 2010

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№2 February 2010

Weathering the Storm. Oil and gas market players hope for a rebound in 2010

New Facets of Paradigm Traditional Technologies

VZBT – Acronym for Quality Drilling Rigs

Table of contents Issue Archive

Drilling Market Looks Forward After Exploration Slump

Companies hope 2010 recalls the better days of 2008 as they move past the slide of last year. Russian oil companies are upbeat at the beginning of 2010 despite last year’s slump – preliminary drilling results from 2009 are not showing the reduction most analysts expected.

Data collected from the Energy Ministry’s Central Dispatch Directorate (CDD) show that while exploratory drilling in the first half of 2009 was down 41.2 percent, production drilling only slowed a mere 2.2 percent.

Featured Article

Long-Term Deals Saved Rig Makers in 2009

For drilling equipment producers 2009 was an uneasy year. Pre-crisis forecasts predicted soaring demand for drilling rigs as aging fleets across the country required replacement. In reality, manufacturers were able to keep their business afloat largely owing to long-term contracts.

Today's Headlines

TNK-BP Files RUR 1bn Suit Against Customs

Nord Stream Completes Phase One Financing

Jupiter Energy Sees Success at Aktau Well

Venzuela to Supply Crude to Belarus

Russian Oil Export Duty to Rise 6%

Lukoil’s Odessa Refinery Reacts to Complaints

TNK-BP Seeks Flexible Approach to Greenfield APG

Gazprom, ONGC Ink Joint LPG Co-op Project

Tech Trends

V-Cone Flow Meter Proves Itself As Economical Solution For Oil/Gas Applications

Key Pump Standards Recognize Composition of DuPont™ Vespel® CR-6100 Parts

Fugro Unveils New Product for Subsea Simulation

Saudi Aramco Awards Baker Hughes Contract for Coiled Tubing Drilling Systems

GE Oil & Gas Strengthens Portfolio with Downhole Oilfield Technology

Recruitment

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Glossary

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Pledge to Fight Animal Cruelty

http://www.moscowanimals.org/

More Top Features

API Certification Offers Ticket to Global Market

The growing competition in Russia’s oil and gas industry and strict bidding demands urge players to constantly prove their competitiveness. One such advantage is the certification program run by the American Petroleum Institute (API).

High Performance Flexible Lines for the Oil Industry

Bonded flexible pipes are suitable for various oilfield applications, and are used especially offshore, including deep water and harsh environment. They have specific advantages as risers and flow lines, or even floating high pressure lines for live crude oil transport in marginal fields, because of simple installation, without high mobilization costs.

Weathering the Storm. Oil and gas market players hope for a rebound in 2010

The global financial crisis did ripple through Russia’s oil and gas industry, but after passing the peak of the downturn the petroleum sector is going to bounce back in 2010, says the majority of respondents in a recent survey conducted by OGE.

New Facets of Paradigm Traditional Technologies

Paradigm™, a leading provider of enterprise software technologies and services for the global oil and gas industry, held its annual workshop in late November 2009 in Tyumen, the administrative and business center of Russia’s largest oil-producing region.

Premium Threads Prevent Accidents

It is widely known that efficiency and reliability in drilling, well casing and on-site tubing pipes is very closely related to the type and quality of thread connections. The vibrant drilling market has ensured growing demand for premium thread connections with improved technical and operational properties which minimize drilling risks.

VZBT – Acronym for Quality Drilling Rigs

Drilling rigs have been manufactured in Volgograd for over 60 years and in this time the Volgograd Drilling Equipment Plant (VZBT) has come a long way. Starting out as a subsidiary of the Barrikady defense plant, it eventually grew into an independent factory, which today is Russia’s only full-kit manufacturer, capable of producing all components and mechanisms of a drilling rig.

Survey Question of the Week

What is your forecast for Russia's oil and gas industry in 2010 ?

What is your forecast for Russia's oil and gas industry in 2010 ?:

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