Gazprom Neft and Zarubezhneft have closed a transaction establishing a three way partnership to develop Salymsky license blocks within the Khanty-Mansi Autonomous Okrug. This three way partnership will present a platform for growing and testing hard-to-recover oil-production applied sciences.
The three way partnership’s asset portfolio will embody the Salymsky-Three and Salymsky-5 license blocks within the Khanty-Mansi Autonomous Okrug-Yugra. Gazprom Neft can have a 51% curiosity within the three way partnership, and Zarubezhneft 49%. Both companions will likely be bringing their sources and abilities to bear in growing hydrocarbon reserves at these Salymsky license blocks, and in growing new approaches to and modern options for working with hard-to-recover oil.
So far, 3D seismic works have been undertaken on the Salymsky-Three and Salymsky-5 licnese blocks, the primary exploration and appraisal nicely drilled, and a 15-stage fracking operation accomplished. Geological prospecting works are anticipated to start out on the adjoining Salymsky-5 block by the top of 2020. Preliminary prognoses counsel preliminary reserves in place at each blocks comprise greater than 500 million tonnes of oil.
Gazprom Neft and Zarubezhneft have agreed a programme of geological prospecting works to 2024. Total funding in geological investigations at each belongings might attain RUB5 billion. Depending on the outcomes of geological prospecting works, business manufacturing at Salymsky-block hard-to-recover reserves might begin as quickly as 2025.
JSC Zarubezhneft is a Russian state-controlled oil firm primarily based in Moscow that makes a speciality of exploration, improvement and operation of oil and fuel fields exterior Russian territory.
(Source: Gazprom-Neft)

The submit GAZPROM NEFT AND ZARUBEZHNEFT TO DEVELOP TIGHT OIL RESERVES IN SALYMSKY BLOCKS appeared first on Energy Global News.

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