JULY: RESULTS OF TATNEFT
Crude Oil Production
The amount of 2,227,461 tons of crude oil or 100.4 percent versus July 2013 was produced at JSC TATNEFT, while the production since the beginning of the year amounted to 15, 213,434 tons, which was 63,605 tons more than in 2013. The amount of 14,932,790 tons of crude oil was delivered with the above-the-plan delivery amounting to 13,950 tons.
The new drilling penetration for 7 months of 2014 amounted to 275.5 thousand meters:
- drilling was performed for JSC TATNEFT in the amount of 226.6 thousand meters, including drilling to bitumen deposits in the amount of 10.2 thousand meters, production drilling accounting for 206.1 thousand meters and exploratory drilling accounting for 10.3 thousand meters.
- 6.7 thousand meters were penetrated for OOO "Tatneft-Samara", including production drilling in the amount of 2.4 thousand meters and exploratory drilling amounting to 4.3 thousand meters.
- for Joint Ventures and independent oil companies: 42.2 thousand meters.
177 wells were constructed and delivered to customers.
Active Well Stock Drilling
The penetration of sidetracking and horizontal wellbores amounted to 33.2 thousand meters (32.7 thousand meters in 2013) during seven months of 2014.
The average number of drilling crews performing conventional well drilling operations since the beginning of 2014 amounted to 34, while 13 drilling crews were engaged in drilling lateral and lateral horizontal wellbores. One drilling crew performed drilling to the bituminous deposits of Ashalchinskoye oil field for NGDU "Nurlatneft".
Repair of Wells
During seven months of 2014 the crews of remedial servicing, workover and oil recovery enhancement performed remedial servicing of 4,602 wells (717 wells in July) and workover in 1,426 wells (210 wells in July) at the sites of JSC TATNEFT.
77 wells were repaired outside the Republic of Tatarstan with 69 wells for OOO "Tatneft-Samara" and 8 wells for OOO "Tatneft-Severny". Formation hydrofracking operations were performed in 364 wells (58 wells in July); five 5 small diameter horizontal wells were drilled and completed for NGDU "Almetyevneft"; oil recovery enhancement works were performed in 1,501 wells (206 wells in July); bottomhole area treatment operations with application of JSC TATNEFT's technologies were performed in 1,878 wells.
Production Performance of the JSC TANECO
The TANECO Complex of Refining and Petrochemical Plants processed 783.2 thousand tons of crude oil and yielded 778.1 thousand tons of oil products in July 2014.
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BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.
The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.
“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.