Rosneft Develops Exploration Drilling Program for 2014
OREANDA-NEWS. April 10, 2014. Rosneft has succeeded at exploration drilling for 100 % up to the end of the first quarter of 2014. During the test for all exploration wells commercial inflows of hydrocarbons were obtained, which means the high efficiency of Exploration drilling program for the year 2014.
The most important results were achieved during the test in Vankorneft’s exploration wells at Tagulskoe and Gorchinskoe fields, in RN-Uvatneftegaz, Varyeganneftegaz, ROSPAN-International, Orenburgneft, Samarneftegaz.
Results of exploration works show the professional work of the Company’s employees and also the effective use of advanced technologies in the exploration and production fields. During the last five years the Company has been consistently replacing more than 100% of its production with new reserves. Rosneft has a leading position according to the amount of recoverable oil and condensate reserves, which were amounted to 11.4 billion tons at the end of 2013, and also according to recoverable gas reserves, which were amounted to 6.5 trillion cubic meters .The multiplicity of total oil and condensate reserves (ABC1 + C2) are up to 56 years, gas reserves - up to 105 years. Reserves replacing and the resource base expanding are among the Company’s strategic goals.
Rosneft implements a set of geological exploration to achieve this task in 2014. It is expected to perform 2D seismic survey for 32 thousand linear kilometers (90% of the work falls on the shelf) and also 3D seismic survey for 20 thousand square kilometers (51% of the work falls on the shelf). It is expected to drill 115 exploration wells.
In 2014 the Company focused the main seismic exploration and geological exploration works investments on the Russian shelf for the leading-up of the prospective structures to the formulation of deep drilling. It is expected to drill two wells: first one will be in the Kara Sea (East Prinovozemelsky-1 license area and the second one will be in the Caspian Sea (North Caspian license area).
The main volumes of exploratory wells drilling are concentrated in the regions of Western and Eastern Siberia and also in the Ural-Volga region, where the main reserves growth is expected.