In 2008 OAO NGK Slavneft incremented 54 mln tons of C1 category oil due to exploration activities


In 2008, due to exploration activities OAO NGK Slavneft managed to increment 54 mln tons of C1 recoverable oil reserves and 37.2 mln tons of C2 recoverable oil reserves.
The total increment of the Company’s C1 recoverable oil reserves (due to exploration activities, reserves re-evaluation and their conversion to the commercial category) amounted to 111.8 mln tons and exceeded oil production by 570% in 2008.
Over the accounting period 21 exploration wells were drilled at the license areas of OAO NGK Slavneft; drilling progress made 54,902 meters. 2D seismic survey of 3,237 km was performed; and 3D seismic survey of 1,211 sq. km was also done. OAO NGK Slavneft geologists discovered 6 new oil and gas deposits with the C1 and C2 oil recoverable reserves in the amount of 2.1 mln tons and 51.6 mln tons respectively at Zapadno-Ust-Balykskoye (Khanty-Mansi Autonomous Area - KhMAO-Yugra), Tersko-Kamovskoye (Krasnoyarsk region) and Vostochno-Messoyakhskoye (Yamalo-Nenetsky Autonomous Area - YaNAO) fields in the formations which were not earlier booked by the State Reserves Committee. In 2008, the total investments into exploration activities amounted to ca. 5.6 bln rubles.
Over the last 5 years, OAO NGK Slavneft capital expenditures for the resource base development steadily increased. From 2004 to 2008 the Company invested over 18.1 bln rubles in exploration activities. During the above-mentioned period 81 exploration wells with the total meterage of 226,570 meters were drilled at the license areas of OAO NGK Slavneft; 2D seismic survey of 10,683 km was performed, 3D seismic survey of 5,120 sq. km was done. The increment of the C1 oil recoverable reserves amounted to 207 mln tons (66 mln tons – in KhMAO-Yugra, 109 mln tons – in YaNAO, 32 mln tons – in Krasnoyarsk region); the increment of the C2 oil recoverable reserves made 135 mln tons. Due to successful exploration activities 5 new fields, including Achimovskoye, Taylakovskoye, Chistinnoye, Maksimkinskoye and Uzunskoye fields, were brought into development in KhMAO-Yugra. The volume of the Company’s original oil in-place increased by 20% - from 3,070 mln tons in 2004 to 3,712 mln tons in 2008.
In 2009, OAO NGK Slavneft plans to increment 22.7 mln tons of C1 recoverable oil reserves what enables to renew the Holding’s resource base by more than 110%.
In the near future OAO NGK Slavneft intends to enhance the exploration activities at its license areas. The 2010 – 2014 Exploration Plan approved in the Company involves 2D and 3D seismic surveys in the scope of 3,600 km and 3,455 sq. km respectively, construction of 72 exploration wells with the total meterage of 220,215 meters, development and pilot production of 8 new fields, including Kuyumbinskoye and Tersko-Kamovskoye fields in Krasnoyarsk region, Vostochno-Messoyakhskoye and Zapadno-Messoyakhskoye fields in YaNAO, Zapadno-Ust-Balykskoye, Lugovoye, Ostrovnoye and Yuzhno-Ostrovnoye fields in KhMAO – Yugra. During 5 years OAO NGK Slavneft plans to invest more than 20.5 bln rubles in exploration activities; over this period the forecasted increment of C1 category oil reserves shall amount to 122.3 mln tons.


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