GAZPROM & PETROVIETNAM ARCTIC COLLABORATION
Further to its exclusive talks on possible cooperation, JSC Gazprom Neft and PetroVietnam have set October as a tentative deadline for prioritizing prospects and terms for their partnership at Dolginskoye field and the Severo-Zapadnyi (North West) blocks in Russia's Pechora Sea.
The agreements, signed on Apr. 6, include the formation of a dedicated working group and a list of priority oil and gas fields for the two blocks along with the establish of basic terms for future joint exploration efforts.
Dolginskoye oil field lies 120 km south of the Novaya Zemlya archipelago and 110 km north of Russia's mainland. Discovered in 1999, the field has seen four exploration wells—three in the north and one in the south. The North West license block is near Dolginskoye and Prirazlomnoye shelves where Gazprom Neft also operates.
The company said seismic work includes more than 11,000 line-km of 2D and 1,600 sq km of 3D seismic.
Dolginskoye field was discovered in 1999. Three exploration wells have been drilled, two in the north and one in the south. Gazprom Neft holds a total of five licenses for the blocks on the Arctic shelf.
|November, 17, 19:55:00|
|November, 17, 19:50:00|
|November, 17, 19:45:00|
|November, 17, 19:40:00|
|November, 17, 19:35:00|
|November, 17, 19:30:00|
REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.