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One Day – One Country: Russia

Russia Key Projects and Business Highlights

 In 2012, the newly elected President Putin managed to re-shape its oil and gas and petrochemical industry with number of strategic decisions to ensure that Russia will remain the largest producer of oil and gas in the coming years.

President Putin based its economic program for the next five years on increasing then production and export of oil and gas.

To achieve this goal Russia faces some key challenges:

 – Unlock untapped oil and gas reserves to replace the depleting fields and add new capacities

 – Speed up the exploration and production in oil and gas in competitive conditions to avoid to repeat Stokman lessons

 – Balance its export markets between Europe and Asia in response the shale gas competition coming from USA

 – Develop the petrochemicals sector to supply the downstream and manufacturing industries.

In this context and learning from Stokman experience, Russia

 – Built up a super major with Rosneft to lead the onshore and offshore exploration oil and gas production in Karal Sea, Yamal Peninsula

 – Signed alliance with foreign companies such as Eni, ExxonMobil, Statoil

 – Solved TNK-BP issue in offering seats to BP on the board of Rosneft

 – Test the opportunities to develop giant unconventional tight oil resources with the support of engineering services companies such as Schlumberger

 – Speed up the construction of the eastern part of the Gazprom Unified Gas Supply System  (UGSS), the world largest network of pipeline.

 – Plan LNG export facilities on the east coast to supply Asia by all means, pipelines, LNG carriers

 – Multiplies strategic agreements with PetroChina for co-operation in Russia and in China

Here are just some of the key initiatives made by Russia to boost its oil and gas and petrochemical sector, few countries have made so much in a so short period of time. 

Rosneft closes deal with BP and AAR over TNK-BP

On Monday 22nd, 2012, Rosneft makes double win over the TNK-BP internal disputes between its key stakeholders BP and Alfa-Access-Renova (AAR) in closing deal with both parties to take over their respective 50% shares.

On Monday morning BP and Rosneft signed Heads of Terms in the perspective to complete the sell of BP’s shares in TNK-BP to Rosneft for a total amount of $27 billion.

Japan confirms interest in Gazprom Vladivostock LNG

November 26th, 2012, Alexey Miller, Chairman of Gazprom hosted a meeting in Moscow with a Japanese delegation led by Japan Ambassador Chikahito Harada about the joint project of liquefied natural gas (LNG) plant in Vladivostok in the outmost Far East of the Russian Federation.

In January 2011, Gazprom and Japan Far East Gas Co., a consortium led

BASF and Gazprom swap assets in a strategic move

On November 12th, 2012, the German chemical company BASF and the Russian Gazprom signed a binding basic agreement to swap assets estimated of the same value.

The assets selected to support the swap reflect the strategy of both companies:

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Sibur and Solvay to create joint venture in Russia

The Russian petrochemical company SIBUR and the Belgium chemical group Solvay signed Heads of agreement in London to produce jointly surfactants and oil field process chemicals. 

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Schlumberger and TNK-BP team up in tight oil project

TNK-BP from Russia and the French-American oil field service company Schlumberger signed a cooperation agreement to develop solutions for hard-to-recover oil and gas reserves.

To implement this agreement, TNK-BP and Schlumberger selected the Severo-Khokhryakovskoe field in Western Siberia.

The purpose of this agreement is to enhance the oil recovery (EOR) and to increase the production in tight oil and gas fields.

>>> More information

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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