Fresh opportunities arise in Russia as country's oil majors respond to lessons learned from the 1990s

Russian oil majors are successfully adapting and improving upon Western oil field technologies in their efforts to reduce costs and protect the environment. These Yukos Russian drilling rigs may appear to be typical Uralmash units, yet they contain an advanced "pitless" drilling fluid recycling system that works much like a closed loop. In order to move from location to location in the swampy terrain, the rigs are mounted on rails. Photo by Dean E. Gaddy.Click here to enlarge imageA radical restructuring of Russian oil company assets, the continued movement towards competitive petroleum markets, and reduced risk through updated production-sharing agreements (PSAs) may at last provide We...

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