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Gazprom Neft Orenburg acquires new acreage

Gazprom Neft Orenburg has been announced as the winner in a recent auction for geological prospecting and E&P rights to the Yagodny licence area in the Orenburg Oblast. Covering 500 square kilometres in total, the licence area includes the Zemlyanskoye field, originally discovered in 1978. Drilling of exploration and prospecting wells, as well as 2D and 3D seismic works, had previously been undertaken within the licence area.

Further investigations are to be undertaken in the next few years in order to confirm reserves at the Yagodny block including, in particular, 3D seismic investigations covering an area of 400 square kilometres, after which drilling will commence.

The block is located within the Novosergiyevsky and Perevolotsky districts of the Orenburg Oblast, both of which benefit from good transport and oil and gas infrastructure. Other Gazprom Neft field assets are also located within direct proximity, including the Baleikinskoe, Filatovskoe, Kapitonovskoe and Tsarichanskoe fields, as well as the Uransky block and the Kuvaisky licence area, acquired by the company one month ago — on which basis, usage of pre-existing shared infrastructure is expected to deliver additional benefits in terms of synergies.

Gazprom Neft licence areas within the Orenburg Oblast

Gazprom Neft Orenburg General Director Alexei Ovechkin commented: “The almost simultaneous acquisition of two new licence areas within the Orenburg Oblast gives us the opportunity to further expand our resource base and continue establishing a new extraction cluster within the region, where we will be able, within the next five years, to produce up to 8.5 million tonnes of hydrocarbons per year.”

Notes for editors

Gazprom Neft Orenburg is one of the most significant oil and gas producing companies in the Orenburg Oblast, active across five fields within the Orenburgsky, Novosergiyevsky, Perebolotsky and Sorochinsky districts of the Orenburg Oblast.

The company’s activities here are based around the eastern part of the Orenbrugsky oil and gas condensate field, hydrocarbon reserves of which, by international SPE-PRMS standards, amount to more than 100 million tonnes of oil equivalent (mtoe). The company also operates throughout the Baleikinsk, Filatovsk, Kapitonovsk and Tsarichansk fields.

Consolidated production in the first nine months of 2014 amounted to more than 2.8 mtoe — up 37 percent year-on-year.