Sergey Kudryashov: “Equipment service and manufacturers benefited the most from the OPEC+ agreement”
During the panel discussion ‘Finding a New Balance on the Oil Market’ as part of REW 2017, Zarubezhneft General Director Sergey Kudryashov noted that the agreement with OPEC+ countries on reducing oil production has stabilized the situation in the industry.
“Equipment service and manufacturers benefited the most because orders for these industries remained the same. The agreement that was adopted did not lead to any serious consequences in the service segment”, Kudryashov said.
Speaking about the decrease in the level of investments and the demand for equipment due to the drop in oil and gas prices, Kudryashov noted: “There has been a serious change in the price situation. A drilling rig previously cost about USD 150,000 a day, while today prices fluctuate around 40% of this cost, and the utilization capacity of both drilling vessels and semi-submersible platforms about 50% lower. The market of services in this area has not yet recovered”.
Kudryashov said introducing new technologies in the future will enable Russia to increase oil production.
October 4, Moscow. – An open session of the Housing Reform Assistance Fund Supervisory Council has been held as part of Russian Energy Week.
Taking part in the discussion were Deputy Minister of Energy of the Russian Federation Anton Inyutsyn, Deputy Minister of Finance of the Russian Federation Leonid Gornin, First Deputy Chairman of the Council of the Federation Committee on the Federal Structure, Regional Policies, Local Self-Governance, and Affairs of the North Stepan Kirichuk, Advisor to the President of the Russian Federation Alexandra Levitskaya, First Deputy Chairman of the State Duma Committee on Housing Policy and Housing and Communal Services Alexander Sidyakin, Chairperson of the State Duma Committee on Housing Policy and Housing and Communal Services Galina Khovanskaya, and Chairman of the Civic Chamber Commission on Housing and Public Utilities, Construction, and Roads Igor Shpektor.
Participants discussed promising areas of activity for state corporations which take into account the issues facing state policy with respect to increasing energy efficiency in housing and utilities. The importance of this issue with respect to Russian housing and utilities was noted by Anton Inyutsyn in particular. “The existence of an effective long-term development institute for housing and utilities is absolutely essential in order to tackle the challenges of modernizing utility infrastructure”, the Deputy Minister underlined.
An EFEA Awards 2018 ceremony was held on 18 January as part of the Europe + Asia Event Forum (EFEA).
October 12, Moscow. – Several oil sector agreements were signed during Russian Energy Week. Cooperation between Irkutsk Oil Company and the Japanese company JOGMEC moved to the next phase of development with a new joint venture, INK-Krasnoyarsk. This agreement to expand the parameters of cooperation includes plans for geological exploration at five licensed sites in Krasnoyarsk Territory. “Our