“Daughter” LUKOIL and “Bashneft” begins exploration drilling in the Nenets

“Daughter” LUKOIL and “Bashneft” begins exploration drilling in the Nenets


The increase in oil production in the Nenets Autonomous district last year amounted to 889 thousand tons, or 6.5% of the production level in 2014. To date, the total reserves of black gold in the district is estimated at 2.9 billion tonnes.

MOSCOW, 29 Feb. “Vostok NAO” (a subsidiary of LUKOIL and “Bashneft”) on March 2, begins to drill its first well in the North-Ariyawansa license area in the Nenets Autonomous Okrug (NAO), reported in the regional administration.

“In the exploration program by 2016 – the appearance of two such objects. This year it is planned to drill another exploratory well on the license area Angaraka. In 2016, the company will direct exploration to more than 2.5 billion rubles of investments”, – stated in the message.

As noted in the district, the NAO is one of the few Russian donor regions, where increased oil production. In 2015, the increase amounted to 889 thousand tons, or 6.5% of the production level in 2014. The total oil reserves within the County to date is estimated at 2.9 billion tonnes.

“Besides increasing production volumes we have received an increasing volume of capital investments to 35%, more than 90% of them are investments of oil industry workers. It is the result established in the area conditions for subsoil users”, — said the Governor of the NAO Igor Koshin.

Established in 2014 the joint venture “Vostok NAO” owns the rights of use of subsoil plots of seven in the Timan-Pechora oil and gas province. The work is carried out in accordance with the long-term program, including seismic surveys, exploration drilling and technical work.