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KCA DEUTAG’s HR-5000 rigs commence drilling in Russia for TNK-BP
KCA DEUTAG has recently commenced operations for TNK-BP in the Demianskiy field in Western Siberia, under an operating and maintenance contract effective to 2011, with three HR-5000 drilling rigs, while a fourth HR-5000 rig is scheduled to commence operations in July 2007.
The design, manufacture and mobilisation of all four rigs within 18 months of contract [...]
Altered Picture for Big Oil Reserves Three Years After Shell
As a crystal ball into the energy industry’s prospects, proved crude-oil and natural-gas reserves aren’t as clear as they used to be, at least not for the biggest oil companies.
While energy investors still look to the annual computation of these hydrocarbons in the ground for all energy companies, Wall Street’s assessment of Exxon Mobil Corp. [...]
TNK-BP asks Russian agency to clear Kovykta drilling
A subsidiary of British-Russian oil company TNK-BP has asked Russia’s technical standards agency to check environmental compliance at its huge Kovykta gas field, which is under pressure from several other state bodies.
TNK-BP, a joint venture between Britain’s BP Plc and a group of Russian billionaires, is the main shareholder in Rusia Petroleum, which has the [...]
Drilling Delay at Shell-Led Russia Field
Shell-Led Consortium Says Russian Regulators Are Delaying Start of Sakhalin Project.
Russian regulators have delayed the start of drilling at the giant Sakhalin-2 liquefied natural gas development, an official with the Shell-led operating company said Wednesday, as state pressure mounts on the biggest foreign investment in Russia.
The Natural Resources Ministry has probed the $22 billion project [...]
FACTBOX-Russia’s Sakhalin oil, gas projects
The Sakhalin oil and gas projects are potentially among the most ambitious of the 21st century, tapping billions of barrels of reserves in seas that freeze for up to six months.
Following are details of some of the main projects.
The Exxon Mobil-led project, which Russian officials say could cost $17 billion, ranks with Saudi Arabia’s Haradh [...]
Russian regulators threaten country’s top oil firm
Russian environmental regulators have announced a crackdown on Lukoil, the country’s biggest oil firm, following pressure on foreign energy companies in Russia which provoked international objections about unfair treatment.
The environmental resources ministry said it may strip 19 licenses from the privately owned Lukoil, following weeks of mounting pressure on foreign energy companies in Russia.
Russia turns screws on foreign oil groups
Russia on Tuesday turned up the heat on foreign oil companies operating in the country, telling Shell it would have to clean up environmental damage on Sakhalin Island and warning Total and TNK-BP of impending inspections.
Russian Natural Resources Minister Yury Trutnev warned that the Shell-led Sakhalin-2 oil and gas development project off Russia’s Pacific coast [...]
Russia holds out olive branch to Shell
Russia attempted to defuse the growing diplomatic crisis over its threats to strip Shell of its licence to operate the US$20bn Sakhalin-2 oil and gas project yesterday, insisting it was a “long way” from breaking the deal it struck in the early 1990s.
Sergei Lavrov, the foreign minister, offered the oil major an olive branch [...]
Oil buyers try to kick Mideast dependence
SINGAPORE China Petroleum & Chemical, the nation’s biggest refiner, and Nippon Oil of Japan are importing more oil from Africa and Russia in an effort to try to reduce their dependence on Mideast crude.
“Winston Churchill said energy security lies in diversity, and that very much applies today,” said Anthony Nunan, an oil trader in Tokyo [...]
