Eurasia Drilling reduces drilling in Russia by 3% in 10M, meterage by 8%

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Eurasia Drilling reduces drilling in Russia by 3% in 10M, meterage by 8%

MOSCOW. Nov 23 (Interfax) - LLC Burovaya Kompaniya Eurasia (BKE, the Russian subsidiary of Eurasia Drilling Company) reduced drilling by 3.5% year-on-year in the 10M 2016 to 959 oil and gas wells, the company said in materials.

The company's meterage fell by 7.7% in January-October to 3.254 million meters of wells.

In October the company increased the number of drilled wells from 91 wells a year earlier to 100, meterage rose by 14%.

In 2015, BKE reduced its share of the drilling market in Russia to 16% from 21%.

Eurasia Drilling Company owns BKE via Cypress Oilfield Holdings. BKE is itself the owner of BK Eurasia-Perm LLC in Perm territory. BKE's production capacities are located in the West Siberian, Volga-Urals and Timano-Pechora regions.