Gazprom Neft to develop cooperation with American oil services company Helmerich & Payne

Gazprom Neft has concluded a long-term partnership memorandum on oil and gas projects in Russia with American oil services company Helmerich & Payne International Drilling Co. The document, outlining the terms of the partnership, was signed by First Deputy CEO, Gazprom Neft, Vadim Yakovlev and Vice President, Hellmerich & Payne, David Millwee.

Under the agreement, both parties have agreed to commence negotiations on the American company potentially providing oilfield services, including high-technology drilling, throughout Gazprom Neft’s licence blocks. In addition to this, the partnership also envisages scientific and technical collaboration in oilfield services, as well as each company arranging training for personnel.

Vadim Yakovlev, First Deputy CEO, Gazprom Neft, commented: “Successful field development worldwide is increasingly dependent on the technological standard and effectiveness of oilfield services. We have seen hard-to-recover reserves playing an increasing role, every year, in Gazprom Neft’s resource base and this trend, in our view, is likely to continue. Thanks to collaboration with leading technology companies, with the competencies necessary for the optimum resolution of complex challenges in production, our company will continue to bring new reserves — previously considered unpromising — into development.”