Editor's Letter

Rig Shortage Sits High on Russian Agenda

Pat Davis Szymczak

Drilling activity jumped 19 percent in Russia last year and 2008 looks also to be a strong year. And the year after, and the year after that, and on and on for the foreseeable future.

Indeed, by 2012, Russian producers and drilling contractors must buy or lease at least 400 more drilling rigs...

Varandey Oil Terminal Brings Increased Activity in Barents Sea

The Varandey oil terminal on the coast of the Barents Sea will be opened in June this year, Lukoil confirms.

New Era in Drilling

Oil&Gas Eurasia attended the presentation of the ZJ50DBS drilling rig in Novi Urengoi in February and talked with Yuri Livchitz, president of North Expedition Holding, and vice-president of Honghua Co. Ltd Ren Jie. Here they share their impressions and plans

Chinese Hybrids Offer a Practical, Low Cost Solution to Russia’s Rig Shortage

In February, Russian drilling contractor North Expedition Holding (under contract to Gazprom’s Burgaz) demonstrated the ZJ50DBS hybrid drilling rig on the Urgenoi field

New Drilling Rigs to Replace a Worn-out Fleet

In the estimation of some experts, up to 90 percent of the Russian fleet of drilling rigs is useless. Despite steady growth in drilling volume for the last three  years in Russia, the situation is still critical. 

Tatarstan Seeks Partners to Develop Heavy Oil

Of total oil production in the Russian Autonomous Republic of Tatarstan, 48 percent is heavy and sour. And in terms of reserves, 75 percent fall into the heavy sour category. And of that, 36 percent falls into the category of  “oil sands.”

Sibur-Gazservis Reaches a New Stage of Development

The increasing consumption of liquefied petroleum gas (LPG) in Russia mirrors world trends and amounts to about 5 percent per year. One of the largest LPG producers in the country is SIBUR Holding, with its affiliate Sibur-Gazservis, which supplies the domestic market with liquefied gas from the holding’s plants

Impact of RAO UES Split Rivals Lenin's 1920s "Electrifikatzia"

On June 1 of this year, the 16-year-old electric energy giant RAO UES Russia will disappear. Its legal and functional split is complete, and its property will soon be divided. As part of the process, dozens of generating, transmitting and distribution companies were created, some of which have already become private

New Oil-Well Cement Improves Integrity of Well Annular Space

One of the reasons for well failures, gas seeps, and water encroachment is leakage of the cemented annular space caused by corrosion of the cement stone by salts in the formation water

Baker Hughes Announces February 2008 Rig Counts

Baker Hughes Inc. announced today that the international rig count for February 2008 was 1,032, down 21 from the 1,053 counted in January 2008, and up 51 from the 981 counted in February 2007. The international offshore rig count for February 2008 was 275, down 16 from the 291 counted in January 2008 and down 11 from the 286 counted in February 2007.

Gazprom Neft Plans to Invest Over $11.2 Bln Through 2010

Gazprom neft approves the scope of medium-term investment program (MIP) for 2008-2010 in the amount of RUR 267.5 bln ($11.2 bln)

Tatneft Files Arbitration Process Against Ukraine

Tatneft announced that it is commencing an international arbitration against Ukraine in connection with the illegal forced takeover of the Kremenchug refinery

LUKOIL Seeks $1bn from ABN AMRO, BNP Paribas, ING, Mizuho, Mitsubishi, WestLB, Banco Bilbao Argentina

Lukoil is close to mandating several banks for a $1 billion loan facility for general corporate purposes, said people familiar with the situation