Key Developments: NK Rosneft' OAO (ROSN.MM)

ROSN.MM on Moscow Interbank Currency Exchange

225.88RUB
24 Oct 2014
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Latest Key Developments (Source: Significant Developments)

NK Rosneft' OAO completes drilling of Universitetskaya-1 well
Monday, 29 Sep 2014 12:00am EDT 

NK Rosneft' OAO:Says that it has completed the drilling of the Universitetskaya-1 well in the Arctic.According to the results of the drilling Rosneft has made an oil discovery at the East-Prinovozemelskiy-1 license area.The drilling was completed in one and a half month in compliance with all the technological and ecological standards and requirements.The sea depth at the drilling site is 81 m, the depth of the straight well, 2,113 m. the well was drilled in open-water conditions, at the 74th circle of longitude, 250 km clear off the inland of the Russian Federation.As a result of the drilling formation samples were obtained, a pilot borehole was drilled (diameter 8.5 inches to a depth of 600 m) and horizontal drill samples were collected.Specialists obtained substantial amount of new geological data which will be elaborated.Upon the completion of the analysis a conclusion on the resource base of the discovered field can be made.At the moment the geological data interpretation is being conducted, the field's development model is being elaborated.The security and fail-safety of the operations of future drilling is guaranteed by the landing of 5 columns.  Full Article

NK Rosneft' OAO to produce 55 bcm gas in 2014-Interfax
Tuesday, 23 Sep 2014 02:34am EDT 

NK Rosneft' OAO:Rosneft will produce 55 billion cubic meters of gas in 2014, the state oil giant's vice president, Vlada Rusakova, said at the Sakhalin Oil & Gas Conference-Interfax.A source with knowledge of the situation told Interfax that this was a gross figure which included associated gas flared at the Vankor field.Rosneft produced 38.17 bcm of gas, according to international reporting standards, in 2013.Gas utilization at Vankor began at the start of last year and had reached 63.4 percent by Aug., compared with 78.6 percent at Rosneft as a whole.So far, daily saleable gas production has peaked at 163.6 million cu m.  Full Article

NK Rosneft' OAO, Sibur sign cooperation agreement-Interfax
Monday, 22 Sep 2014 12:58am EDT 

NK Rosneft' OAO:Rosneft and petrochemicals company Sibur have signed a long-term agreement of cooperation in the development, testing and industrial implementation of lubricating materials and oil products, Rosneft said in a statement-Interfax.Under the agreement the parties will evaluate the demand of lubricating materials and oil products of the production facilities of the petrochemical holding.Also the companies will work jointly on the development of new lubricating materials, which will meet Sibur's industrial facilities requirements, the statement says.The parties also plan to conduct development of joint projects aimed at the substitution of imported products in the sphere of oil products supply, Rosneft said.Moreover, Rosneft and Sibur will cooperate in the sphere of trainings and technical consultations to improve the staff competences in the sphere of approaches to oil products supply and to the production of lubricating materials," the statement says.The agreement is valid during 5 years and it may be prolonged by agreement between the parties.  Full Article

EU applies sanctions to NK Rosneft' OAO, AK Transneft' OAO, Gazprom neft' OAO-Interfax
Friday, 12 Sep 2014 12:37am EDT 

NK Rosneft' OAO:Russian oil companies Rosneft, AK Transneft' OAO and Gazprom neft' OAO have been included on a list of new restrictive measures of the European Union regarding Russia, the EU Official Journal reported-Interfax.The EU has also introduced restrictions on cooperation with Russia in developing scavenger oil deposits.  Full Article

NK Rosneft' OAO subsidiary begins developing Achimov deposits in Yamalo-Nenets-Interfax
Thursday, 11 Sep 2014 09:30am EDT 

NK Rosneft' OAO:Rosneft subsidiary Rospan International has begun developing new Achimov horizons at the Novy Urengoy field with C1 commercial reserves of about 60 billion cubic meters (bcm) of gas and condensate, Rosneft said in a statement-Interfax.The geologically complex deposits are located more than 3,700 meters below the surface and have anomalously high pressures of over 600 atmospheres.Rospan will employ casing drilling and well logging and reinforce the casing with foam cement to extract the reserves.In developing the Achimov horizons, company geologists continued geological exploration of lower-lying horizons, after which the new horizon at the East Urengoy section was probed.The cost of the additional exploration amounted to 7 Russian rubles per tonne of oil equivalent, substantially less than stand-alone geological exploration would have cost.Rospan International is the first enterprise in Russia to tap Achimov gas and condensate deposits.It began operations at the East Urengoy and Novy Urengoy license sections in Yamalo-Nenets autonomous district in 1996.Overall reserves in the license territory amount to about 1 trillion cubic meters of gas, 150 million tonnes of gas condensate and 46 million tonnes of oil.  Full Article

Russian government gives Gazprom OAO, NK Rosneft' OAO subsoil usage rights for Barents Sea, Sea of Okhotsk sections-Interfax
Monday, 8 Sep 2014 03:26am EDT 

Gazprom OAO:Russian Prime Minister Dmitry Medvedev has signed an order to give Gazprom and NK Rosneft' OAO usage rights at subsoil sections of the Barents Sea and the Sea of Okhotsk, the Russian government said in a statement-Interfax."The signed order adds to the list of subsoil plots of federal significance provided for use without auctions, which includes the Northwestern mineral resource section located in the Barents Sea, and Deryuginsky subsurface area located in the Sea of Okhotsk," the statement says.The order says that usage rights for the Northwestern mineral resource section, which covers 8,861.4 square kilometers, are being issued to Gazprom, while Rosneft is receiving rights to the Deryuginsky subsurface area (2,507 square kilometers)."The sections are being issued for exploration and extraction, as well as for geological surveying, exploration and production under a combined license," the statement says.  Full Article

NK Rosneft' OAO, PetroVietnam agree to form JVs to operate on Pechora Sea shelf-Interfax
Friday, 5 Sep 2014 07:13am EDT 

NK Rosneft' OAO:Rosneft and PetroVietnam have reached agreement to form joint ventures to operate at two Pechora Sea shelf sections-Interfax.Rosneft said it would own 66.67 percent and PetroVietnam 33.33 percent of the equity in the ventures.  Full Article

NK Rosneft' OAO launches operations at North Chaivo field in Sakhalin-Interfax
Thursday, 4 Sep 2014 07:18am EDT 

NK Rosneft' OAO:Rosneft has launched the first stage of operations at the North Chaivo field in Sakhalin-Interfax.Energy Minister Alexander Novak said the first well, the drilling of which was completed on Sep. 4, set a new industry record, the total length of the well was 10,875 meters, of which 9,517 meters were not vertical.Rosneft chief Igor Sechin also said that on Sep. 4, the company is beginning the first drilling with the help of the Berkut platform.The northern tip of Chaivo field is located within the shallow part of the Northeastern shelf of Sakhalin.The recoverable reserves of oil amount to 14.9 million tonnes, of gas 4.3 billion cubic meters (bcm).It is planned that peak output will amount to 32,000 barrels a day.The Berkut platform will drill on the Arkutun-Dagi field, located 25 kilometers from shore, on a section where the depth can reach 35 meters.The start of production at the Arkutun-Dagi field is expected at the end of 2014.Its development will add up to 4.5 million tonnes to the total annual production of Sakhalin-1.  Full Article

NK Rosneft' OAO wins tender to fuel Turkish Airlines cargo flights-Interfax
Wednesday, 3 Sep 2014 01:59am EDT 

NK Rosneft' OAO:Russian oil company Rosneft has won a tender to fuel cargo flights for Turkish Airlines, the company said in a statement-Interfax.This area of activity is new for the airline.Flights are planned to take place between Sep. 1 and April 30, 2015.The amount of fuel needed for the entire period is reportedly 1,090 tonnes, but this will probably increase.  Full Article

NK Rosneft' OAO, Avtovaz OAO expand cooperation
Wednesday, 27 Aug 2014 08:00pm EDT 

NK Rosneft' OAO:Says that Rosneft and AVTOVAZ signed an agreement of development of strategic cooperation, which expands the scale of partnership between the companies.Among other things the document envisages the development, testing and introduction of lubricant materials and other Rosneft oil products required by AVTOVAZ businesses.It also envisages the possibility of closing of long-term contracts for the supply of AVTOVAZ production facilities with lubricant materials and oil products.Such a cooperation configuration will allow AVTOVAZ to optimize the purchasing procedures and curtail production expenditures.In its turn Rosneft will receive a guaranteed distribution channel for its products and a possibility to conduct joint R&D in the sphere of the creation and implementation of modern solutions in the sphere of lubricant materials.  Full Article

Russia's Rosneft will continue drilling in Arctic - CEO

MOSCOW, Oct 24 - Russia's biggest oil producer Rosneft will continue drilling in the Arctic Kara Sea on its own after the departure of its partner, U.S. oil major ExxonMobil, due to sanctions, the company's head Igor Sechin said on Friday.

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