Russia’s Surgutneftegaz increases oil production at Bazhenov by 60% in 2013

February 10, 2014

Surgutneftegaz in 2013 increased oil production at the Bazhenov formation by more than 60% to 548,000 tons, Surgutneftegaz’s chief geologist Vyacheslav Chirkov has told a meeting at the natural resources ministry.

Chirkov said that Surgutneftegaz lost 3bn rubles as a result, but he said the company was investing in Bazhenov because it was a promising field.

He said that Surgutneftegaz was producing oil at 10 Bazhenov deposits, and that by 2018 the number would rise to 13 and oil production would rise to 5.72 million tons.

The company’s investment plan for 2014-18 provides for drilling 79 exploration wells, deepening 26 development wells, acquiring 789 km of 2D seismic data and more than 2.5 sq km of 3D seismic data.

Copyright: Oil and Gas Information Agency, 2014