Russian Financial Control Monitor

MOSCOW. Midsized Russian crude producer RusPetro, which focuses on hard-to-recover oil in Siberia, said it has signed a technical partnership agreement with a leading oil and gas services company, Schlumberger. The aim is to advance RusPetro’s field development plan and drill a number of horizontal, multistage fractured wells using tight oil technology and technical expertise, the Russian company said as quoted by Nasdaq. The focus of the technical partnership is to maximise productivity from the company's Jurassic reserves, but the 300,000 acre Bazhenov shale formation will also be cored and logged as a basis for the future development of this formation. Schlumberger's remuneration is directly linked to production results.

MOSCOW. Moody's Investors Service said it has affirmed the Baa1 senior unsecured issuer rating of Russian oil pipeline operator Transneft and the Baa1 rating on its $2.35bn outstanding loan participation notes which its SPV, TransCapitalInvest Limited, has issued for the sole purpose of financing loans to Transneft. Concurrently, Moody's has raised Transneft's baseline credit assessment (BCA), a measure of the company's standalone credit strength, to baa2 from baa3. The outlook on the ratings is stable.

2023-10-08 11:42:18