Gazpromneft-Khantos' Daily Oil Production Hits Record High

In August 2009, Gazpromneft-Khantos' daily oil production hit a record figure of 25 thousand tons. Thus, the venture’s daily capacity increased 24.5 per cent since the start of the year. Previously getting at this benchmark was expected in January 2010, while actual Gazpromneft-Khantos’ production in 1H2009 smashed the target by 131 thousand tons. Production expected by year-end 2009 results will rise to 8.4 mln. tons, which will by 3.6 per cent exceed the targets.

High level of current production performance was achieved due to successful geological and engineering operations on bringing new wells into production, as well as optimization of performance of the producing well stock. At the moment the venture carries on scaled operations on fields development, resource base growth, upgrading of production and introducing of up-to-date technologies. To this date, special programs are formed to be implemented at Gazpromneft-Khantos’ objects of production activities in 2010, including a program for geological exploration, early drilling, and exploration wells recovery.

Reference

OOO Gazpromneft-Khantos was founded in 2005 and represents one of the key producing facilities of JSC Gazprom Neft. The venture’s targets include geological exploration and exploitation of Gazprom Neft’s Priobskoye, Palyanovskoye and Zimnee oil fields located within the territories of KhMAO and the Tyumen Region. In 2008, OOO Gazpromneft-Khantos extracted 7.4 mln. tons of oil and brought 315 wells into operation. The major bulk of production belongs to Yuzhno-Priobskoye field, recoverable resources of which reach ca 200 mln. tons of oil.