Gazprom Neft, Russia’s fastest-growing oil company by output, said Aug. 13 it has discovered an oil field in the southern Urals region and plans to start production there next year.
The company said the Roshchinskoye oil field has “geological reserves” of 4 million tonnes (29.3 million barrels). It would be part of Gazprom Neft’s Orenburg production cluster.
Gazprom Neft is employing technologies, including horizontal drilling and hydraulic fracturing, at the Orenburg group of fields near the border with Kazakhstan.
As of 09:45 GMT, the rouble-based MOEX Russian index was up 0.65%, and Gazprom Neft’s shares gained 1.14%.
Activist investor Elliott Management is seeking to break up Noble Energy's $5 billion sale to oil major Chevron, a Bloomberg reporter tweeted on Sept. 9.
Former Enron Corp. CEO Jeffrey Skilling has been holding meetings, hoping to win backing for a new energy venture, the Wall Street Journal reported citing unnamed sources.
Bids for a portfolio of Exxon Mobil’s British North Sea oil and gas fields, which is expected to fetch around $1 billion following this year’s oil price weakness, are due on Oct. 28, sources say.