23 Nov 2018 13:10

Rosneft, Lukoil start preparations to drill another exploration well in Azov Sea

MOSCOW. Nov 23 (Interfax) - Rosneft and Lukoil have started preparations to drill an exploration well at the Novoye field in the Sea of Azov as part of their joint venture (JV) Priazovneft.

Russian Prime Minister Dmitry Medvedev signed an order on the transfer of land for farming use in Temryusky District in Krasnodar Territory to land for industrial and other uses for the drilling of a second exploration well at the Novoye field.

The Novoye field was discovered during the development of the Temryuksko-Akhtarsky licensed section in the Sea of Azov in 2007. Recoverable reserves total 2.4 million tonnes of oil and 0.9 billion cubic meters of gas. The second exploration well, drilled by Priazovneft in 2009 at the section was "dry".

Nonetheless Rosenft and Lukoil decided to develop the field. The JV obtained a production license for the Novoye field in 2013 and commissioned it in September 2016. In 2017, 37,700 tonnes of oil was produced at the Novoye field.