Gazprom Neft Continues Siberian Shale Oil Study

Gazprom Neft reported Friday that it has approved the continued study of shale oil reserves at the Bazheno-Abalaksky complex in Western Siberia's Kransnoleninskoye field.

The project's new phase will involve drilling four inclined wells to a depth of between 8,855 and 9,185 feet over the next year. Drilling will start by the end of 2013 and is scheduled to be completed by summer 2014.

Gazprom Neft completed tests on the first appraisal well drilled in the Palyanovskaya zone of the Bazheno-Abalaksky complex in spring 2013. The firm said the well produced an oil flow at a rate of 80 cubic meters per day. Based on these results, Gazprom Neft said it was able to draw up a conceptual model of the field and reserves in the Bazheno-Abalaksky complex as well as plan further development of the site and define locations for the new appraisal and production wells. These will all be relatively close to the existing well.

Gazprom Neft said results taken from the four new wells will support a more extensive study to determine the feasibility of developing the fields at the Bazheno-Abalaksky complex and help refine the geological model of the layer and its potential output. In autumn 2014 Gazprom Neft will consider whether it should move on to the next stage: drilling commercial production wells on this site.

Gazprom Neft First Deputy CEO Vadim Yaklovlev commented in a company statement:

"Gazprom Neft’s strategy to 2025 is to maintain its reserves-to-production ratio at a 20 year level. This means we have to increase our resource base and developing non-traditional reserves, for example, bringing the Bazheno-Abalaksky complex on stream."


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