Russia also has the highest new build capital expenditure (Capex) of around US$78.8 billion for the 2018 - 2022 period.
The company has announced that its wholly owned subsidiary OOO Arctic LNG 3 has completed the testing of the first exploration well at the North-Obskiy license area located in the shallow waters of the Ob Bay.
Russia is set to reap record ruble revenues from the upstream oil and gas sector over the next six years, according to GlobalData.
Combi Lift has been contracted by the Linde Group as a logistics partner for oversized and heavy cargo for the Gazprom Amur Gas Processing Plant project.
The scope of Russia’s profit-based tax (NDM) pilot scheme will still be limited in the context of Russia’s upstream sector, according to GlobalData, a leading data and analytics company.
Zoltav, the Russia-focused oil and gas exploration and production company, has provided an update on the Company's exploration programme to assess the resource potential of the Carbonian and Devonian structures in the Western Fields of the Bortovoy Licence, Saratov.
PAO NOVATEK (NOVATEK) won the open auction to acquire a 100% stake in Maretiom Investments Limited and 100% of Velarion Investments Limited from ALROSA.
LUKOIL has completed the construction and commissioning of the first well at the Phase 2 of Vladimir Filanovsky field in the Caspian Sea. As of 31 January, the company started to drill an injection well.
An average of US$34.1 billion per year in capital expenditure will be spent on 1673 oil and gas fields in Russia between 2018 and 2020, according to GlobalData, a leading data and analytics company.
The scale of the project will require US$35 billion with the first phase costing US$6 billion representing a landmark agreement for Genoil.