Exclusives

Russia relies on companies including ExxonMobil, BP, Halliburton and Schlumberger for the latest technology and expertise.

The Obama administration’s targets include OAO Rosneft, OAO Novatek, OAO Gazprombank and eight defense firms.

At 20%, BP holds the single biggest foreign investment in Russia.

Investment from energy companies is vital to Ukraine’s mission to pull away from Russian control.

The potential loosening of Russian red tape could provide enough slack for both foreign and domestic oil and gas companies to increase profits and build partnerships.

Exploration

Eni, in partnership with Rockhopper, has been awarded an exploration license within the Croatian First Offshore Licensing Round.

The second-largest U.S. energy producer will pull out of an agreement for exploring the Oleska field in western Ukraine, a government official said this week.

Chevron Corp. may pull out of a shale-gas project in western Ukraine, further frustrating the country’s efforts to cut its dependence on Russia.

JKX Oil & Gas Plc has been awarded a further five-year term to its Zaplavskoye exploration license.

Testing of well E-303 on the Elizavetovskoye Field in Ukraine indicates a gross pay of 167 m (548 ft) spread over eight reservoir horizons, JKX Oil & Gas said in a news release.

Production

Output of 505 million metric tons is equivalent to about 10.1 MMbbl/d, while Saudi Arabia’s output last month was 9.75 MMbbl/d last month, according to Bloomberg estimates. Oil and gas account for more than half of Russia’s budget revenue.

Technology

The Skytop drilling rig is being stacked following its recent completion of well Ig-140, and operational and ancillary costs reduced.

The stimulus program would consider compensating two-thirds of the central bank refinancing rate in effect when a credit agreement is signed, and the loans may be granted for seven to 10 years.

BP Plc is in talks to buy a direct stake in an East Siberian oil producer from OAO Rosneft, according to a person with direct knowledge of the matter.

Tendeka has been awarded two significant contracts for the sand and inflow control technology in Russia.

The oil arm of state-run Gazprom started exclusive talks with the Vietnamese producer on joint development of the Dolginskoye Field, which holds more than 200 million tons (about 1.5 Bbbl) of estimated reserves.