Russia upstream news

The agreement, signed at the St. Petersburg International Gas Forum, documents the intention of both parties to work together in jointly determining applications and solutions that can benefit from the introduction of new technologies for oilfield services.

Equinor and Rosneft will work to develop low carbon solutions and reduce the carbon footprint from joint projects.

The new production cluster will be centred around the Tazovskoye oil and gas condensate field, brought into production by Gazprom Neft in June this year.

The project includes two blocks, 58 km2 in total, which are located 42 km offshore Mexico in the Gulf of Mexico.

Both companies have confirmed their willingness to proceed with joint implementation of exploration and production projects in western Siberia, including the development of the Achimov, Paleozoic and Jurassic hydrocarbon deposits.

The agreement will support Rosneft’s commitment to reduce upstream emission intensity by 30% by 2035.

The companies will carry out exploration work at the North-Vrangelevskiy licence area located in the eastern part of the East Siberian Sea.

The new training centre in Nefteyugansk, Russia, was launched in October 2019 following Siberian Service Company’s investment in rig simulator technology developed by Drilling Systems.

Rystad Energy analysis shows that the world’s top oil and gas employer, China, lost only 5.3% of its massive workforce. The toll in the US was more devastating, estimated at 11.1%, thereby faring worse than its European peers and Russia.

Projects were concentrated in Russia and Uzbekistan and the Group drilled 1.33 million m (2019: 1.37 million m). Similarly, the number of wells drilled was almost identical - 344 (2019: 350).