Russia

NOVATEK to increase extraction of natural gas by almost 10%

In Q1, 2013 NOVATEK increased extraction of hydrocarbons by almost 10% compared to Q1, 2012.
Gross production of NOVATEK made up 16.10 billion cubic metres of natural gas and 1.185 million tons of liquid hydrocarbons. The extraction of natural gas increased by 1.44 billion cubic metres or 9.8% and extraction of liquid hydrocarbons increased by 101 thousand tons or 9.3% compared to Q1, 2012.

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Alexander Spielmann: Geological exploration is at at ow level

Geological exploration in the Khanty-Mansiisk autonomous district-Yugra, as well as in Russia, is at the low-low-low level, the Director of the scientific analytical rational mining center of the Khanty-Mansiisk autonomous district Alexander Spielmann stated in an interview to the Samotlor-Express.
According to the center, in 2001, more than 1 million meters were covered by the prospecting and exploratory drilling and 19 deposits were discovered. In 2010, 271 thousand meters were covered and 4 deposits were discovered. “The operation volumes fell 4-5 times,” – the expert states. – If we not to provide at least 0.5 million meters of headway in Yugra by 2020, the geological exploration won’t be restores as an industry.

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MMK increased zinc-coated roll stock production by 27.5% to 672 thousand tons in 2012

There was produced almost 672 thousand tons of galvanized mill products at MMK in 2012. It is by 27.5% more than in 2011, is said in the press-release of the company.
“An increase became possible due to an increase of demand on the part of building sector and to a launch of the second stage of a new cold rolling mill in July 2012. It comprises a continuous hot dip galvanizing line and combined continuous annealing and hot galvanizing aggregate, the company states.

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Exploration of oil reserves at the shelf of the Far East to start in the next few years

The Ministry for the Development of the Far East claimed, the state of the geolgical exploration of Russian shelf is 10 times as low as that of American shelf in the Chukchee Sea and 20 times as low as that of Norwegian shelf. Meanwhile, development of oil and gas deposits of the territory will stimulate hastened development of the Far East.
The prospects of the development of the oil and gas deposits at the continental shelf in the water areas of the Far Eastern and East Arctic Seas were discussed by Gazprom, Rosneft, Exxon Neftegaz Ltd., scientists and representatives of regional authorities.

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Vladimir Putin: Yamal makes a significant contribution into the Arctic development

A plenary meeting of the international conference “The provision of anthropogenic and environmental safety in the Arctic: solution approaches” takes place in Salekhard today. The Russian Security Council Secretary Nikolai Patrushev opened the meeting.
He delivered the message of Russian President, Vladimir Putin, which stressed the importance of efficient cooperation in the environmental security in the Arctic: "I welcome the participants of the conference in one of the Russian Arctic’s capitals - Salekhard. The Yamal-Nenets Autonomous District makes a significant contribution into the Arctic development and in the development of the resource potential...

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In Q1, Novatek increased natural gas production by 9.8%

In the first quarter of 2013, the Novatek’s total production made up 16.10 billion cubic meters of natural gas and 1.185 million tons of liquid hydrocarbons (oil and gas condensate). As compared to the first quarter of 2012, the natural gas production grew by 1.44 billion cubic meters or by 9.8%, and the liquid hydrocarbon production increased by 101 thousand tons or by 9.3%, the company’s press centre reports.

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Lukoil and Surgutneftegaz propose introduction of Excess-Profits Tax at Spielman and Imilorskoye

Lukoil and Surgutneftegaz propose the Ministry of Finance to implement the pilot Excess-Profits Tax at Spielman and Imilorskoye deposits, vice-President of Lukoil Leonid Fedun reported.
“The decision will be made not earlier than in 2014. I believe, this is the best way to test the Excess-Profits Tax method with clear expenditures, separate meter stations and Clear admission tickets. I believe, the experiment must be conducted at these sectors”, Fedun said.

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South stream clashes with interim Government: Bulgaria has new claims to the project

The project of the South Stream gas pipeline construction has clashed with problems in Bulgaria again. The country’s interim Government is going to review the investment decision on the Bulgarian part of the pipe, insisted that the previous Authorities agreed to participate in the project on unfavorable terms. In May, new election will take place in the country, and the Government will be changed again, so Gazprom will come back to negotiations with the new Government, experts think. But the delay threatens to frustrate the construction terms. Yesterday, the Bulgarian Prime Minister Marin Raykov stated that “it is necessary to analyze the situation around the investment decision on the South Stream project again and pay attention to its “the most sensitive points”. He charged to organize a working meeting on this issue. The Prime Minister didn’t explained when it would take place and what points of the project didn’t suit Bulgaria.

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Deputy Minister for Development of the Far East: Development,the development of shelf can provide for huge synergy

The RF Deputy Minister for the development of the Far East, Dmitry Shelekhov believes that “the development of shelf can provide for huge synergy and multiplicative effect”. He expressed this opinion at the meeting devoted to the prospects of the development of the oil and gas deposits at the continental shelf in the water areas of the seas in the Far East and Eastern Arctic.
“This is a good stimulus for the development of power industry, shipbuilding, building industry etc. We understand that we need to create favourable conditions for the business to make large investments”, Shelekhov specified.

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Chinese Baosteel may acquire blocking shares of “Mechel-Mining” for $1.25 billion

“Mechel” is rumoured to be making arrangements with the Chinese Baosteel Group on the sale of a blocking interest inf “Mechel-Mining”. “Vedomosti” reported citing one of the minorities of the company.
According to him, “Mechel Mining” might be valued at $5 billion, while the blocking shareholding at $1.25 billion.
The source, familiar with the owner of Mechel, I.Zyuzin, confirmed the information on the negotiations. He has noted that the interaction with the prospective purchaser was difficult and he knew nothing about the completion of the negotiations.

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