Regional News: Europe & Russia

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Oil Services Firms Beat Expectations, Tough Times Loom
Thursday, August 27, 2015 Oil and gas service companies have fared better than expected in the first half of the year despite a weak market, thanks to deep-pocketed Middle Eastern customers and stringent cost cuts.

OMV Appoints New Executive Board Member
Thursday, August 27, 2015 OMV appoints a new executive board member responsible for upstream, effective September 1, 2015.

Oil Industry Needs to Find Half a Trillion Dollars to Survive
Thursday, August 27, 2015 At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it.

Helicopter Operation Safety Review: Problems & Effectiveness
Wednesday, August 26, 2015 Rigzone looks at the Civil Aviation Authority's 2015 progress with its helicopter operation safety review.

IGas Appoints New Chief Financial Officer
Wednesday, August 26, 2015 IGas announces the appointment of a new chief financial officer and board director.


Maersk Seeks to Shut Oil Installation in UK North Sea
Wednesday, August 26, 2015 Maersk Oil seeks regulatory permission to shut its Janice installation, which produces around 7,000 barrels per day from three UK North Sea oilfields.

Schlumberger Estimates 10.99B Barrels of OIP in Horse Hill License Area
Wednesday, August 26, 2015 UK Oil & Gas Investments announces that 10.993 billion barrels of mean oil in place (OIP) has been independently calculated by Schlumberger to lie within the 55 square miles of the PEDL137 and PEDL246 Horse Hill licenses.

Petrofac Posts Net Loss of $133M in 1H 2015
Tuesday, August 25, 2015 Petrofac reveals a net loss of $133 million for the six month period ended June 30, 2015.

Lundin Well Indicates Edvard Grieg Recoverable Oil Increase
Tuesday, August 25, 2015 Preliminary results from appraisal well 16/1-23 S, operated by Lundin Norway, indicate an increase of between 35 million and 282 million cubic feet of recoverable oil in the south-eastern section of the Edvard Grieg field.

Oil & Gas UK Appoints 4 New Board Members
Tuesday, August 25, 2015 Oil & Gas UK announces four new appointments to its board of directors.

Russia's Novatek to Sell 10% in Yamal to Chinese Fund
Monday, August 24, 2015 Novatek is close to selling a 9.9% stake in its Yamal liquefied natural gas project to a Chinese investment fund, Kommersant business daily reported on Monday.

San Leon Energy Confirms Bid Approach
Monday, August 24, 2015 San Leon Energy's board confirms receiving a bid approach that could lead to an offer being made for the company.

Russia's Rosneft in talks with Mubadala on East Siberian Fields
Monday, August 24, 2015 Rosneft is in talks with Mubadala Petroleum to jointly develop two east Siberian projects, Tass Yuriakh and Verkhnechonskoye, the Kremlin said on Monday.

Employment in Norwegian Oil, Gas Sector
Monday, August 24, 2015 Rigzone takes a look at employment developments in Norway during 2015, highlighting the reasons behind some of the largest cutbacks in the region and examining what hope there is for the area in the future.

Prosafe SE: Robust Short-Term Outlook, Optimistic About Long-Term
Friday, August 21, 2015 Prosafe SE offers a "robust" short-term outlook and is optimistic about long-term market conditions.

First Phase of Johan Sverdrup Development Approved
Friday, August 21, 2015 The Norwegian Ministry of Petroleum and Energy approves the first phase of development for the Johan Sverdrup field.

Premier Oil Posts Robust First-Half Results
Thursday, August 20, 2015 Results from Premier Oil show it move from a profit to loss but the firm's first-half performance were judged 'solid' by analysts.

Russia's Eurasia Drilling Says 1H Net Profit Halves
Thursday, August 20, 2015 Russia's Eurasia Drilling reports a halving of its first-half net profit on a weak rouble, low oil prices and lower demand from its chief customer, Lukoil.

Five 'Hot' Oil, Gas Safety Technologies
Thursday, August 20, 2015 From rig simulators to flameproof motors, Rigzone takes a look at five of the latest safety technologies for the upstream oil and gas industry.

Climate Boss Says EU Can Only Back A Strong Paris Deal
Thursday, August 20, 2015 The EU supports a UN deal to cap global warming only if the agreement is legally binding and includes regular reviews.

ENI To Start Producing From Arctic Oilfield Off Norway In A Few Weeks
Wednesday, August 19, 2015 ENI plans to start oil production from Norway's first Arctic oil development in a few weeks after years of delays and cost overruns.

Transneft Prikamye: Oil Deliveries Unaffected Despite Pipeline Fire
Wednesday, August 19, 2015 Transneft Prikamye reports that a fire that stopped an oil pipeline in Russia's Perm region has not disrupted deliveries.

Wood Group Scores Gabon Deal after Tough First Half
Tuesday, August 18, 2015 Oilfield engineer Wood Group wins a multi-million dollar contract award with Shell in Gabon after announcing reduced revenues and profits for the first half of 2015.

Total Abandons Shale Gas Exploration at Well in Denmark
Tuesday, August 18, 2015 France's Total abandons exploration work at its shale well Vendyssel-1 in northwest Denmark, according to the Danish Energy Agency.

UK Awards 27 Blocks for Shale Exploration in Latest Licensing Round
Tuesday, August 18, 2015 The Oil & Gas Authority announces that 27 onshore blocks from the 14th Onshore Oil and Gas Licensing Round will be formally offered to companies involved in shale gas exploration.

LNG Ship Owners Launch Vessel Pool to Cut Costs in Depressed Market
Tuesday, August 18, 2015 Three of the world's top LNG tanker owners decide to market 14 vessel jointly on a spot charter basis in order to cut costs in a depressed market.

Total on Track to Start Bulgaria Offshore Drill in Early 2016
Monday, August 17, 2015 France's Total says it is on track to start drilling for oil and gas at an exploration site off Bulgaria's Black Sea coast early next year.

Russia's Rosneft Plans to Increase Oil Output
Friday, August 14, 2015 Russia's Rosneft plans to increase its oil production, Chief Executive Igor Sechin has told Prime Minister Dmitry Medvedev.

European Oilfield Services: Light at the End of the Tunnel?
Friday, August 14, 2015 Rigzone takes a look at recent quarterly statements and strategy updates from European oilfield services firms.

ONGC Said to Seek $900 Million Stake in Rosneft Vankor Field
Friday, August 14, 2015 India's ONGC is seeking through its overseas unit to buy a stake in Russia’s second-largest oil producing development from Rosneft, according to two people with direct knowledge of the plan.

UK Government to Fast Track Shale Gas Planning Applications
Thursday, August 13, 2015 New measures are being introduced by the UK government to fast-track shale gas planning applications in the country.

Russia's Largest Oil Producer Bucks Global Drilling Slump
Thursday, August 13, 2015 OAO Rosneft, the world's largest traded oil producer, increased drilling by 27% in the first seven months of the year, according to a statement.

Saipem Says Milan Prosecutors Open Corruption Probe On Brazil Contract
Wednesday, August 12, 2015 Saipem says it received notice that Milan prosecutors had opened an investigation into alleged international corruption regarding a contract the oil services group was awarded in Brazil in 2011.

Lukoil Caspian Field Passes 5M Tons Mark
Wednesday, August 12, 2015 Russian oil and gas firm Lukoil sees oil production at its Yuri Korchagin field in the Caspian Sea pass five million tons.

OMV CEO Confident of EU Nod for Nord Stream
Wednesday, August 12, 2015 The CEO of Austria's OMV expects the European Commission to give the green light for the Nord Stream 2 gas pipeline project from Russia to Central Europe.

Oil and Gas Problems Pile Up for New Bilfinger CEO
Wednesday, August 12, 2015 The new chief executive of Germany's Bilfinger says he will do whatever it take to turn the company around as problems escalate at its main division servicing oil and gas clients.

Russia's Gazprom 1Q Net Profit Up 71% to 382.1B Roubles
Monday, August 10, 2015 Gazprom, Russia's largest gas producer, posts a 71-percent increase in its first quarter net profit to $5.91 billion.

UK Probe of Soma Focuses on Payments to Somali Officials
Monday, August 10, 2015 Soma's work in Somalia is being scrutinized by the UK's Serious Fraud Office.

BP Expects to Recruit 600 New Graduates this Year
Friday, August 07, 2015 BP expects to recruit 600 people to its graduate recruitment program in 2015, down by up to 400 graduates compared to prior years.

Riser Adviser: Carbon vs Steel in the Subsea Riser Industry
Friday, August 07, 2015 Rigzone takes a look at the potential benefits of using carbon fiber risers instead of traditional steel models.

Russia's Rosneft 2015 Investment Program based on Oil of $50 per Barrel
Thursday, August 06, 2015 Russia's Rosneft says it will base its 2015 business plan on an oil price of $50 per barrel.

Sound Oil Agrees Italy Gas Deal with Shell
Thursday, August 06, 2015 Junior energy firm Sound Oil agrees a gas sales deal for its Casa Tonetto production concession with Shell Energy Italia.

Oil & Gas UK Launches New Category for 2015 Awards
Thursday, August 06, 2015 Oil & Gas UK launches a new category for the 2015 Oil & Gas UK Awards, which will be held at Aberdeen's Exhibition and Conference Center on November 5, 2015.

SeaBird Exploration to Stack Munin Explorer Vessel
Thursday, August 06, 2015 SeaBird Exploration announces that it will stack the Munin Explorer vessel this month, following its completion of a charter contract with SeaBed Geosolutions.

Lundin Cuts 2015 Production Forecasts
Wednesday, August 05, 2015 Lundin Petroleum cuts its production guidance from previous forecasts of between 41,000 to 51,000 barrels of oil equivalents per day to 32,000 boepd.

Italy says Iran Probably Open to Changing Eni Contract Terms
Wednesday, August 05, 2015 Italy's foreign minister says Iran is probably open to changing contract terms with Italy's state-owned oil company Eni as the country emerges from Western sanctions.

MOL Achieves Best-Ever Quarterly Result
Wednesday, August 05, 2015 Hungary's MOL Group achieves its best-ever quarterly result thanks to a strong contribution from its downstream operations.

SBM Offshore First-Half Beats Forecasts, To Double Annual Savings
Wednesday, August 05, 2015 SBM Offshore reports better than expected first-half profit after slashing costs and said it would double annual savings at a time of low oil prices.

Polarcus 2Q Results: Riding Out the Seismic Storm
Wednesday, August 05, 2015 Seismic survey firm Polarcus reports 2Q results that show lower revenues and profits but it believes it is 'riding out the storm' in the seismic market.

Rig Trends: UK Rig Market Feeling the Effects of the Downturn
Wednesday, August 05, 2015 With 22% of the UK rig fleet (10 rigs) already idle, that number is likely to grow over the remainder of 2015 and into 2016.

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