Rosneft to raise exploration success rate to 95%-98%, organic production growth to 30 mln tonnes by 2022
SOCHI. June 22 (Interfax) - The measures Rosneft has undertaken in the exploration area should raise the success rate of geological exploration work to 95%-98% by 2022, Rosneft CEO Igor Sechin said at the AGM.
"The foundation of the new strategy ought to be a qualitative change in the business through a technological breakthrough, the use of digital technologies, cost-cutting and improved downstream margins. Our task in exploration and production is to make a technological breakthrough by increasing the percentage of high-yield wells (to 40% by 2020) and using high-tech well completion methods. We plan a full audit of the well stock, to optimize digital models for exploration projects. The technological breakthrough should also be based on increasing commercial drilling speed and lowering energy consumption. The company is geared towards long-term relations with safely operating contractors, and in this respect the targets are to raise performance per crew to 20%-30% by 2020," Sechin said.
"The drilling service must raise capacity utilization 20-30% in the short term. The company will also continue to bring technological partners into both exploration and production. Separately, the company will be looking at the possibility of bringing innovatory small and medium businesses into technological sites at tail-end production assets," Sechin said.
"Measures being taken in exploration and production ought to ensure a success rate of 95%-98% in and a major increase in the technological success of exploratory drilling and sidetracking while maintaining economic efficiency. The key result of this work up to 2022 will be organic production growth of 30 million tonnes of oil per year," he said.
"To achieve the technological breakthrough tasks we will have to involve the best technological partners with a world name and competencies. With this in mind, the company a few days ago signed an agreement to form a joint venture with General Electric, which will focus on implementing the latest digital technologies and new industrial internet standards at Rosneft assets. This will enable us to optimize the system for gathering, processing and analyzing data from the well to the petrol pump. In exploration and oil and gas development processes and in refining and petrochemicals, we will be working to maximize the measurability of material flows and reduce errors and losses related to the human factor," Sechin said.
"To achieve these goals both in exploration and production and in refining, commerce and sales, and to accelerate business digitalization, it would be expedient to set up a Rosneft technological council to seek and identify viable technologies, strengthen internal competencies and effectively implement new technological solutions at Rosneft assets," he said.
He said the council would include BP chief Bob Dudley and CEO of GE Oil & Gas Lorenzo Simonelli, among others.
