Arcticneft Production Potential Significantly Increased by Surveys

Russia-focused junior oil firm Urals Energy reported Friday that recent surveys on its Arcticneft asset in northern Russia show it could increase production there significantly. 

Urals said the results of passive seismic spectrometry and a separate micro-seismic survey carried out on the west block of Arcticneft, which is located on Kolguyev Island in the Barents Sea, show "the possibility of significantly increasing production at Arcticneft from  the current horizons with limited capital and operational expenditure".

Urals said this production increase would be based upon five main trends of hydrocarbon potential as revealed by results of the surveys. The firm added that it continues to review the results of the surveys in more depth, including encouraging data on possible future deeper drilling sites at Arcticneft.

Meanwhile, Urals expects to conclude the drilling of Well No. 53 on its Petrosakh field within the next two weeks.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Inpex, MHI Ink Memorandum on Joint Stu... (May 26)
 -  Santos Commences First Production from... (May 26)
 -  Strike Energy Updates on Southern Coop... (May 26)
 -  Sino G&E Continues to Derisk China Ord... (May 26)
 -  PETRONAS Extends Contract to Supply LN... (May 26)


Most Popular Articles

From the Career Center
Jobs that may interest you
Subsea Engineer - BOP Inspector
Expertise: QA / QC / Inspection|Subsea Engineer|Subsea Engineering
Location: Worldwide Assignments
 
GIS Analyst / Exploration Analyst
Expertise: Geologist|Geoscientist|Software Specialist
Location: Houston, TX
 
GIS Analyst
Expertise: Engineering Technician|Geoscience Technician|Software Specialist
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $49.74/BBL 2.32%
Light Crude Oil : $49.56/BBL 1.93%
Natural Gas : $1.99/MMBtu 0.50%
Updated in last 24 hours