Key Developments: NK Rosneft' OAO (ROSNq.L)

ROSNq.L on London Stock Exchange

19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

EU applies sanctions to NK Rosneft' OAO, AK Transneft' OAO, Gazprom neft' OAO-Interfax
Friday, 12 Sep 2014 

NK Rosneft' OAO:Russian oil companies Rosneft, AK Transneft' OAO and Gazprom neft' OAO have been included on a list of new restrictive measures of the European Union regarding Russia, the EU Official Journal reported-Interfax.The EU has also introduced restrictions on cooperation with Russia in developing scavenger oil deposits.  Full Article

NK Rosneft' OAO subsidiary begins developing Achimov deposits in Yamalo-Nenets-Interfax
Thursday, 11 Sep 2014 

NK Rosneft' OAO:Rosneft subsidiary Rospan International has begun developing new Achimov horizons at the Novy Urengoy field with C1 commercial reserves of about 60 billion cubic meters (bcm) of gas and condensate, Rosneft said in a statement-Interfax.The geologically complex deposits are located more than 3,700 meters below the surface and have anomalously high pressures of over 600 atmospheres.Rospan will employ casing drilling and well logging and reinforce the casing with foam cement to extract the reserves.In developing the Achimov horizons, company geologists continued geological exploration of lower-lying horizons, after which the new horizon at the East Urengoy section was probed.The cost of the additional exploration amounted to 7 Russian rubles per tonne of oil equivalent, substantially less than stand-alone geological exploration would have cost.Rospan International is the first enterprise in Russia to tap Achimov gas and condensate deposits.It began operations at the East Urengoy and Novy Urengoy license sections in Yamalo-Nenets autonomous district in 1996.Overall reserves in the license territory amount to about 1 trillion cubic meters of gas, 150 million tonnes of gas condensate and 46 million tonnes of oil.  Full Article

Russian government gives Gazprom OAO, NK Rosneft' OAO subsoil usage rights for Barents Sea, Sea of Okhotsk sections-Interfax
Monday, 8 Sep 2014 

Gazprom OAO:Russian Prime Minister Dmitry Medvedev has signed an order to give Gazprom and NK Rosneft' OAO usage rights at subsoil sections of the Barents Sea and the Sea of Okhotsk, the Russian government said in a statement-Interfax."The signed order adds to the list of subsoil plots of federal significance provided for use without auctions, which includes the Northwestern mineral resource section located in the Barents Sea, and Deryuginsky subsurface area located in the Sea of Okhotsk," the statement says.The order says that usage rights for the Northwestern mineral resource section, which covers 8,861.4 square kilometers, are being issued to Gazprom, while Rosneft is receiving rights to the Deryuginsky subsurface area (2,507 square kilometers)."The sections are being issued for exploration and extraction, as well as for geological surveying, exploration and production under a combined license," the statement says.  Full Article

NK Rosneft' OAO, PetroVietnam agree to form JVs to operate on Pechora Sea shelf-Interfax
Friday, 5 Sep 2014 

NK Rosneft' OAO:Rosneft and PetroVietnam have reached agreement to form joint ventures to operate at two Pechora Sea shelf sections-Interfax.Rosneft said it would own 66.67 percent and PetroVietnam 33.33 percent of the equity in the ventures.  Full Article

NK Rosneft' OAO launches operations at North Chaivo field in Sakhalin-Interfax
Thursday, 4 Sep 2014 

NK Rosneft' OAO:Rosneft has launched the first stage of operations at the North Chaivo field in Sakhalin-Interfax.Energy Minister Alexander Novak said the first well, the drilling of which was completed on Sep. 4, set a new industry record, the total length of the well was 10,875 meters, of which 9,517 meters were not vertical.Rosneft chief Igor Sechin also said that on Sep. 4, the company is beginning the first drilling with the help of the Berkut platform.The northern tip of Chaivo field is located within the shallow part of the Northeastern shelf of Sakhalin.The recoverable reserves of oil amount to 14.9 million tonnes, of gas 4.3 billion cubic meters (bcm).It is planned that peak output will amount to 32,000 barrels a day.The Berkut platform will drill on the Arkutun-Dagi field, located 25 kilometers from shore, on a section where the depth can reach 35 meters.The start of production at the Arkutun-Dagi field is expected at the end of 2014.Its development will add up to 4.5 million tonnes to the total annual production of Sakhalin-1.  Full Article

NK Rosneft' OAO wins tender to fuel Turkish Airlines cargo flights-Interfax
Wednesday, 3 Sep 2014 

NK Rosneft' OAO:Russian oil company Rosneft has won a tender to fuel cargo flights for Turkish Airlines, the company said in a statement-Interfax.This area of activity is new for the airline.Flights are planned to take place between Sep. 1 and April 30, 2015.The amount of fuel needed for the entire period is reportedly 1,090 tonnes, but this will probably increase.  Full Article

NK Rosneft' OAO, Avtovaz OAO expand cooperation
Thursday, 28 Aug 2014 

NK Rosneft' OAO:Says that Rosneft and AVTOVAZ signed an agreement of development of strategic cooperation, which expands the scale of partnership between the companies.Among other things the document envisages the development, testing and introduction of lubricant materials and other Rosneft oil products required by AVTOVAZ businesses.It also envisages the possibility of closing of long-term contracts for the supply of AVTOVAZ production facilities with lubricant materials and oil products.Such a cooperation configuration will allow AVTOVAZ to optimize the purchasing procedures and curtail production expenditures.In its turn Rosneft will receive a guaranteed distribution channel for its products and a possibility to conduct joint R&D in the sphere of the creation and implementation of modern solutions in the sphere of lubricant materials.  Full Article

NK Rosneft' OAO increases equity stake in Vankorneft to 100 pct-AK&M
Friday, 22 Aug 2014 

NK Rosneft' OAO:Rosneft has transferred 100 percent of the shares in CJSC Vankorneft to its balance sheet, Rosneft informed-AK&M.Rosneft established full control over Vankorneft on Aug. 18.Earlier, the company directly owned 93.96 percent of Vankorneft shares.  Full Article

NK Rosneft' OAO, Seadrill Ltd and North Atlantic Drilling Ltd sign exchange of assets agreement
Friday, 22 Aug 2014 

NK Rosneft' OAO:Says that Rosneft, Seadrill Ltd and North Atlantic Drilling Ltd (NADL) signed a framework agreement that envisages long-term cooperation in the sphere of oilfield development projects.The document foresees the acquisition by Rosneft of NADL shares through an exchange of assets and investments in NADL charter capital.Moreover agreement’s options contemplate a possibility for Rosneft to increase its stake in NADL according to the development of the cooperation.The final parameters of the deal, including the amount of Rosneft’s cash contribution in NADL’s charter capital, will be defined upon receiving corporate and accountant’s approvals which is expected till the end of the 2014.Seadrill Ltd currently owns about 70.4 percent of NADL shares.  Full Article

NK Rosneft' OAO secures contracts for delivery of diesel fuel to Mobil'nye GTES OAO-Interfax
Thursday, 21 Aug 2014 

NK Rosneft' OAO:NK Rosneft' OAO has won two procurement contracts for the delivery of 33,000 tons of diesel fuel to Mobil'nye GTES OAO, a unit of FSK EES OAO, of a total value of 1.1 billion Russian rubles, according to Mobil'nye GTES OAO's materials-Interfax.The value of the first contract is 693.5 million rubles, and of the second one 402 million rubles including VAT.The delivery under the first contract is to be completed between Aug. 14 and Sep. 25, while under the second one between Aug. 11 and Sep. 10.  Full Article

Rosneft says Exxon still continues to work with it in Arctic

SOCHI, Russia, Sept 20 - Russia's biggest oil producer Rosneft said on Saturday that Exxon Mobil was still continuing exploration drilling at their joint project in the Arctic Kara Sea.

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