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Oil And Gas Production Unit News

05 Mar 2015

UK Will Force Fridman to sell N.Sea Assets

Britain is ready to force the sale of Russian oligarch Mikhail Fridman's recently acquired North Sea energy assets unless it receives unspecified assurances within the next week, Prime Minister David Cameron's spokesman said on Thursday. Britain on Wednesday wrote to Fridman's investment vehicle saying he had seven days to explain why he should be allowed to retain ownership of North Sea assets just acquired from German utility RWE. "If assurances are not supplied, we've set out our position and our intention to act, and the prime minister entirely agrees with that," Cameron's spokesman told reporters. RWE on Monday finalised the sale of its oil and gas production unit DEA UK to Fridman's investment vehicle LetterOne…

08 Jun 2014

Yuganskneftegaz Stimulates Construction of Wells at Priobskoye

Rosneft subsidiary Yuganskneftegaz officially opened two new oil and gas production units at the Priobskoye field, oil and gas production unit–22 and oil and gas production unit–23. The creation of new production units in Yuganskneftegaz is caused by intensive commissioning of producing wells after drilling, construction of multiple well platforms and infrastructure facilities. It is planned to complete 535 new wells at the Priobskoye Field during 2014, which will increase oil output by over 100 thousand tons. Production gain is provided not only by increased number of producing wells. The enterprise also applies new technologies of mechanized extraction.

28 Oct 2005

HHI Capitalizes on Offshore Business

The name Hyundai Heavy Industries (HHI) usually comes up with a name tag of the worlds largest shipbuilder. But the Ulsan-based company is now dreaming of becoming more than just a shipbuilder, as they have found out that selling offshore oil drilling facilities and industrial plants can be lucrative businesses especially with the soaring oil price, according to a report in the Korea Times. Earlier this month, the company won a $1.3-billion contract from Kuwait Oil Company in upgrading their crude oil export facilities by beating a consortium led by Spanish and Italian companies. It was the largest overseas construction deal won by a South Korea company this year, amounting more than 80 percent of the company’s total sales of such products last year.