ROSNEFT & STATOIL: STRONG PARTNERSHIP
Statoil is pushing on with all its projects in Russia, despite the uncertainty of the Crimea crisis, and still expects to drill a new well there this year, a senior executive at the Norwegian oil group said.
Statoil has several joint projects with Russia's largest oil company Rosneft, including deals to explore for oil and gas in Siberia and above the Arctic Circle, as well as shale oil in the south of the country.
Lars Christian Bacher, head of development and production international, said Statoil would go ahead with plans to drill one well with Rosneft this year and two in 2015 at the North-Komsomolskoye heavy oil discovery in west Siberia.
Statoil is one of the select few international oil companies to explore for oil in Russia, along with ExxonMobil and Italy's Eni.
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Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.
OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.
REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.
Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.