Several oil sector agreements reached at 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 companies have embarked together on a new project, and we have obtained a licence for five licensed sites in Krasnoyarsk Territory and are beginning joint exploration work”, noted JOGMEC President Keisuke Kuroki.
In the oil exploration sector, Lukoil-Engineering signed a memorandum of understanding with the Iranian companies National Iranian Oil Company (NIOC) and Khazar Exploration & Production Company (KEPCO).
“The memorandum of understanding between Iran and Russia was signed after several months of negotiations with Lukoil regarding exploration work in the southern region of the Caspian Sea”, explained KEPCO’s CEO Mohsen Delaviz. Commenting on the signing of the document, Lukoil President and CEO Vagit Alekperov said: “Our positions are very close overall to the positions of the Iranian side. There are a few differences of opinion which are not too significant. They primarily concern the volume of oil and gas production in certain fields, and the deadlines for extracting volumes at the specified level. I am confident that these slight divergences of opinion can be fully resolved.”
Several agreements were also reached in the field of developing and applying new technologies in the oil industry. Tyumenenergo signed the following agreements:
· A partnership and cooperation agreement between Tyumenenergo and SAP CIS
· A cooperation agreement on supplying major electrical equipment in the 6–110 kW voltage class between Tyumenenergo and Alageum Electric
· A cooperation and collaboration agreement on conducting scientific research and experimental design work to develop energy infrastructure for the Arctic zone of the Russian Federation (in the Yamalo-Nenets Autonomous Area) between Tyumenenergo and Forenergo
· A cooperation and collaboration agreement regarding the development of information and telecommunications technology between Tyumenenergo and VOLS-VL Management
· A cooperation and collaboration agreement regarding information technology and automated management systems between Tyumenenergo, MN Consulting, and EnergoData
“Two of the five agreements we signed today relate to developing and producing in-line equipment and transformers, while three address IT and automation issues. Our goal is to create a model for the digital electricity company of the future, a new-generation company, and today we have moved one step closer to that goal”, noted Tyumenenergo Director General Sergey Savchuk.
According to a forecast released by the Russian Ministry of Energy, Russia’s oil output may fall by 0.1% in 2017 to 547 m tonnes. The Russian Federation’s compliance with its obligations to cut production will offset the crude output growth potential accumulated by the beginning of 2017.
The first ‘Russian Energy Week’ Energy Efficiency and Energy Development International Forum was held in Moscow and St. Petersburg on 3–7 October 2017 at the Central Exhibition Hall ‘Manege’ and ExpoForum Convention and Exhibition Centre.
OPEC Secretary General Mohammad Barkindo has confirmed that he will participate in Russian Energy Week 2017. The cartel head is to take part in one of the key discussions on the Forum business agenda focusing on world oil market stabilization.