A total 6,756 metres was drilled, including 4,411 metres drilled in the target strata. The well was constructed in 39 days at a rate of 5.78 days per 1,000 metres.
API President and CEO Jack Gerard delivered the following speech at today’s 2018 State of American Energy event. Below are Gerard’s remarks as prepared for delivery.
These seismic works have involved technologies and equipment designed or modified for use in the Arctic, and were undertaken by modern research vessels of the highest ice class — ICE-1A.
The oil recovery factor (ORF) at the pilot licence block reached 67 percent, of which 15 percent is attributable to the use of ASP technology. The company will producing oil under this pilot project until its completion in Q1 2018.
. The company’s investment in this project currently stands at more than RUB3 billion.
Messoyakhaneftegaz completes construction of a highly complex production well at its Vostochno-Messoyakhskoye field.