ТNК-ВР Starts Development Drilling In Orenburg Region’s Morgunovskoe Field

abarrelfullabarrelfull wrote on 18 Sep 2012 08:26
Tags: c-asia russia upstream ТnК-ВР

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OJSC Orenburgneft (part of the ТNК-ВР Group) has started development drilling in the Morgunovskoe oil field located within the Buzulukskiy license area, with total reserves of ca. 16 mln tons. Thirteen wells are planned to be drilled there till the end of the year.

ТNК-ВР will be implementing a pilot production project in the Morgunovskoe field for three years – till 2015. Now the field, which was discovered in 2010, has eight exploration wells. Maximum production is expected to be achieved by 2016 with the commencement of commercial operation. By that time a drilling potential will be fulfilled – 54 development wells with annual production of approximately 650 ths tons.

“Development of new fields in the Orenburg region is an important part of the company general strategy. Putting new areas on stream and improving production performance at mature fields will allow achieving stable production in the region in the long term,” said Igor Rustamov, General Director, OJSC Orenburgneft.

Information for editors

The field’s total reserves as of January 2012 amount to 12,846 ths tons – category АВС1, 2,561 ths tons – category С2, and 866 ths tons – category С3.

TNK-BP is Russia’s third largest oil company and is owned by BP and the AAR consortium (Alfa Group/Access Industries/Renova) on a parity basis. Additionally, TNK-BP owns approximately 50% of the Russian oil and gas company Slavneft. TNK-BP’s share in Russia’s oil production (including its share in Slavneft) is about 16%. The company’s total proved SEC LOF reserves are 9.115 billion BOE as of December 31, 2011.

References to “TNK-BP” or “the Group” mean “TNK-BP International and the company’s consolidated subsidiaries” unless the context requires a different reading.

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