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DRILLING & PRODUCTIONIn the current climate when oil prices are high any downtime or delay in production can cost companies millions of dollars per day. In Russia’s case there is also a large inherited stock of old poorly drilled, completed and maintained wells so it comes as no surprise that oil and gas majors are currently investing increasing amounts of money into drilling and production technologies. For example, last year LUKoil earmarked a $65 billion program to boost its upstream capacity and enhance oil and gas production over the next 10 years. Gazprom is also following the suite with $20 billion to be spent in 2007 on increasing production and development of new promising fields such as the Yuzhno-Russkoye oil, gas and condensate deposit. Another major player in the Russian oil industry, Gazpromneft is looking to invest over $16.5 billion in the next 12 years to develop its oil production, while Surgutneftegaz is spending $11 billion on the infrastructure development of Eastern Siberia oilfields. Development of Caspian Sea reserves over the recent years has also presented companies with a number of challenges. Further development of Kashagan, Tengiz and Karachaganak oilfields is currently attracting billions of investments. On top of that KazMunaiGaz is planning to spend $12.9 billion in 2006-2010 and further $16.8 billion in 2011-2015 on E&P operations in Kazakhstan’s sector of the Caspian Sea. O&G contains fresh and exclusive articles, interviews and case studies that profile the key policies, strategies and trends that Russian energy stakeholders are adopting to maximize the regional markets of Russia & the Caspian. We will bring you up to date with the latest technologies in the field of onshore and offshore drilling and production based on advanced domestic and international expertise. Example featuresInto the Deep – Exclusive interview with Dr Lee Hunt, President of the International Association of Drilling Contractors The drilling revolution – How the leading Russian oil companies have overhauled the drilling side of their business Getting to the core – Executive Roundtable discussion with Welltec’s Jørgen Hallundbæk, Peak Well Solutions’ Leif Ove Svensen, and KMC Oiltools’ Steve Zagdan Topics Under Discussion
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Example circulation
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Pipeline companies to merge
GDS Publishing
The idea of exploration
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