Page 14 - FSUOGM Week 01 2020

FSUOGM
NEWS IN BRIEF
FSUOGM
RUSSIA
Lukoil starts pilot phase at new gas project
Russia’s Lukoil has launched pilot production at the South-Messoyakhskoye gas condensate field of the Bolshekhetskaya depression, in the Yamal-Nenets region of Western Siberia.
The company said on December 25 it had drilled one multi-bore well with daily flowrate of 330,000 cubic metres of gas and 30 tonnes of condensate.
Facilities have been built and commissioned at the site including a unit to treat up to 600,000 cubic metres of
gas and 90,000 tonnes of condensate, a
gas engine power plant, a 7-km pipeline linking the field with Russia’s national grid, gas gathering systems, a methanol pipeline, other production facilities and an accommodation building.
The final decision on further field development will be based upon results of operation of the first wells.
December 25 2020
Gazprom borrows $13bn for Amur GPP
Gazprom has borrowed $13bn to fund construction of its $21bn Amur gas processing plant (GPP), it said on
December 24.
The funds will come from 22
European, Asian and Russian banks, Gazprom said, describing the deal’s size as “unprecedented.”
The Amur GPP will process gas being delivered to China via the Power of Siberia pipeline, which started up on December 2. It will host six 7 bcm per year trains due to come on stream between 2021 and 2024.
December 27 2019
Turkish firm to build pipeline for Rosneft-BP JV
Turkish construction firm Tekfen said on January 4 it had been awarded a contract worth RUB19.5bn ($316mn) to build a new pipeline for a joint project between Rosneft and BP in Western Siberia. It is required to complete the 90-km pipeline by June 2021. The pipeline will pump gas from the Kharampurskoye gas field in the Yamal- Nenets district, one of Rosneft’s flagship gas projects.
BP bought a 49% stake in a Rosneft subsidiary charged with developing the deposit in 2018. Neither company has said when first gas is expected, but output is expected to reach 11 bcm per year in a first phase and eventually 24 bcm per year.
January 4 2020
Russia’s TMK pipemaker
closes sales of US unit to
Tenaris
Russia’s TMK steel pipe manufacturer has closed a deal to sell its US subsidiary IPSCO Tubulars to global producer Tenaris, Tass reported on January 3.
“The final amount paid in cash, following contractual adjustments, was $1,067mn (including approximately $220mn in working capital),” Tenaris said in a statement.
Tenaris will be the exclusive distributor of TMK’s OCTG and line pipe products in the US and Canada for six years starting from January 2.
The transaction to sell IPSCO Tubulars to Tenaris for $1.2bn was announced in March 2019. The companies hoped to close the deal by the end of 2019, but the US Department of Justice only cleared the acquisition in late December.
IPSCO Tubulars has pipe production facilities in the US and Canada. After closing the deal, TMK’s management plans to revise its dividend policy to pay at least 25% of consolidated net profit to shareholders.
TMK is a major Russian manufacturer and supplier of steel pipes for oil and gas industry. Dmitry Pumpyanskiy, chairman of TMK, owns 65.05% of the company through TMK Steel Holding Ltd.
bne IntelliNews, January 6 2020
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Week 01 08•January•2020