Oil Prices (today)
Urals $100,250 per bbl.
Brent $101,315 per bbl.
Oil Prices (yesterday)
Urals $100,045 per bbl.
Brent $101,010 per bbl.
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RussNeft
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Every 30th ton of oil produced in Russia
Annual production of 13.9 мln. tons of crude oil
Annual gas production 2.120 billion cbm
Recoverable reserves of more than 600 мln. tons
24  producing assets
1 transportation company
Active in 11 regions of Russia, the CIS and West Africa countries
More than 17, 000 jobs

 



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Geologic Exploration and Reserves

GEOLOGY

The enterprises of OAO RussNeft corporate structure hold totally 107 licenses for subsoil use.
Total number of fields amounts to 125.
The CompanyТs producing enterprises form the following groups by their geographical and operational profile:


1. West Siberia group

2. Volga group

3. Central Siberia group

Oil bearing capacity at the fields within Volga region is related to terrigeneous and carbonate rocks of middle and lower carbon and Devonian; in West-Siberian region it is related to upper Jurassic and Neokomian deposits.

Discovery of new oil deposits are linked to the increased in amount of 2D/3D seismic and its detailed performance as well as in terms of exploration drilling at previously discovered deposits and at the new licenses.

Increment of ј¬—1+—2 reserves exceeded production by 16% in 2013.

New oil deposit was opened in UJ1 group formations at West-Variogan field; the oil deposits borders were extended for formations of UB8 group at Roslavlskoye field, UB10-2 group at West-Variogan field, MA10-1 and MA12 groups at Verkhne-Shapshinskoye field and Achimov complex at Tagrinskoye field.

3D seismic data from Padar block in Azerbaijan were interpreted within participation of OAO NK RussNeft in international projects.

In order to ensure annual replenishment of the CompanyТs resource base, RussNeft intends to introduce, in mid-term, an exploration policy based on the following:
 


1. Prospecting and exploration of new deposits of hydrocarbons in deep oil-promising horizons due to deepening of producing wells.

2. Enhancement of prospecting and exploration drilling due to a better quality of 2D and 3D seismic works allowing detailed mapping of hydrocarbon traps with complex structures including in deep formations.

3. Acquisition of new potential prospects based on geological and techno-economical evaluations.

4. Expansion of the borders of the existing deposits.

RESERVES

OAO NK RussNeft has independent audit results of oil and gas reserves as of 01.01.2014.

Oil and gas reserves of all the companies in OAO NK RussNeft corporate structure as of 01.01.2014 , in compliance with the audit performed by Miller and Lents (the USA), amount to:

Oil:

Proven Ц 1,034.689 mbbl;
Probable Ц 465.563 mbbl;
Possible Ц 639.379 mbbl.

Gas:

Proven Ц 987,607 mcf;
Probable Ц 272,419 mcf;
Possible Ц 245,351 mcf.

Estimates of the oil and gas reserves are compliant with the new requirements of SPE/WPC/AAPG/SPEE valid from 28.03.2007.

 

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