Exploration Drilling in Russia Increased over Twenty Percent in 2007

Russian oil companies increased exploration drilling by 20.6% in 2007, according to the Fuel and Energy Dispatch Center (CDU TEK).

Over 870,900 exploration wells were drilled in 2007. Russian companies also completed 13.8 million meters of production wells, an increase of 18.8 % more over 2006.

Surgutneftegas drilled 168,100 meters of exploration wells last year (up 2.4%) and 3.1914 million meters of production well (up 4.0%).

Other increases include Lukoil, which drilled 125,100 meters of exploration wells (up 7.8%) and 2.6379 million meters of production wells (up 26.6%); Rosneft--84,200 meters (up 37.6%) and 2.5136 million meters (up 79.8%) respectively; TNK--BP Holding--102,200 meters (up 150%) and 1.1061 million meters (up 20.4%); and Gazprom Neft--53,400 meters (up 70.6%) and 1.6937 million meters (up 18.5%)

Source: Rigzone  

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