27 Nov 2009 17:16

Slavneft reserves in Eastern Siberia total 268 mln tonnes

MOSCOW. Nov 27 (Interfax) - Slavneft's oil reserves prepared for commercial development (the entire C1 resource and 50% of the C2 resource) at fields in Eastern Siberia will total 268.5 million tonnes at the end of 2009, the company told Interfax.

In 2007-2009 Slavneft drilled 13 exploration wells at the East Kuyumbinskoye and Tersko-Kamovskoye fields in Krasnoyarsk territory. It conducted 1,142 running kilometers of 2D seismic surveying and 375 square kilometers of 3D.

The increase in the C1 resource at the Kuyumbinsky and Tersko-Kamovsky sections totaled 50.8 million tonnes in the last three years, including the expected reserve increase for 2009. The reserve increase in the period substantially exceeded the planned levels. Nonetheless, it was achieved within the approved budget.

At the six other licensed territories acquired by Slavneft in Krasnoyarsk territory in 2005 - Abrakupchinsky, Kordinsky, Podporzhny, Baikitsky, Tukolano-Svetlaninsky and Chambinsky - preparations have been made to conduct exploration drilling. The quality of the existing geophysical information was analyzed, the data has been reprocessed and interpreted and 3,684 running kilometers of 2D seismic was conducted.

The results were used to conduct an investment valuation of projects to develop the six sections based on their current and forecast resource base.

The pace of geological exploration in Krasnoyarsk territory slowed this year owing to a shortfall in investment following the onset of the global financial crisis.

However, reserve increases continued apace thanks to re-commissioning and testing of wells drilled earlier. The C1 resource at licensed territories in Krasnoyarsk territory is projected to increase by 10.6 million tonnes in 2009.

Slavneft-Krasnoyarskneftegaz carries out the hydrocarbon exploration across all eight license territories in the region, a total of 30,400 square kilometers. The fields are part of the Yurubcheno-Tokhomskaya oil and gas collector zone.

Slavneft is owned 50-50 by TNK-BP and Gazprom Neft .