Gazprom Neft Expands in Orenburg Region of Russia

Russia's Gazprom Neft announced late Tuesday that it has completed the acquisition of OOO Yugra-Intek, so expanding its resource base in the Orenburg region in the south of the country.

OOO Yugra-Intek has a license to search, explore and produce oil in the Kuvaisky licensing area of the Orenburg region. Seismic surveys have already been conducted on the block, which covers an area of 52 square miles, and Gazprom Neft intends to continue geological surveying for more accurate data on reserves in the area.

The acquisition of the block – which lies adjacent to the Tsarichanskoye field that is also owned by Gazprom Neft – will deliver additional synergies within the infrastructure for preparing and transporting oil and the utilization of associated petroleum gas, the firm added.

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

"Gazprom Neft has only been working in the Orenburg region for a few years, but our output has practically tripled over that period. We will continue to push this metric up and are aiming to produce 8.5 million tons of hydrocarbons per year by 2020."

 



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
 -  Scottish Government Reveals New Subsea... (Jan 20)
 -  SOFF Secures Services Contract for Jan... (Jan 20)
 -  NPD Grants Lundin Permit for Appraisal... (Jan 20)
 -  Lion: AMT-1 Well Abandoned After Stuck... (Jan 20)
 -  Unite: Workers 'Deeply Unhappy' About ... (Jan 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
 
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours