Gazprom Neft, Lukoil, and Tatneft have established a joint venture, New Oil Production Technologies LLC, for exploration and production of hydrocarbon reserves in Russia’s Orenburg Oblast, including the Savitsky and Zhuravlevsky license blocks. Pilot development is expected to start in 2024.
Savitsky covers an area of 900 sq m across Buzulksky and Grachevsky districts of the Orenburg Oblast and is marked by a high level of geological uncertainty. Drilling of the first prospecting and appraisal well is concluding. The full geological prospecting program includes six horizontal wells. The partners will be undertaking a range of geo-physical investigations, including core and fluid sampling and analysis, research and development, and non-seismic field investigations. Seismic surveying (3D) has been undertaken in over 880 sq km in the area.
Zhuravlevsky covers an area of about 120 sq km in Buzulksky district and abuts Savitsky. It contains Zhuravlevskoye field, discovered in 1965 but currently mothballed. Reserves in place are about 2.5 million tonnes of oil. Hard-to-recover reserves may also be present.
Geological prospecting at Zhuralevsky, expected to run from 2020 to 2023, includes 118 sq km of 3D seismic and drilling of a prospecting well in traditional reserves. An additional horizontal prospecting and appraisal well will be drilled in non-traditional reserves. A pilot development program will commence once exploration activities are complete and reserves confirmed.
Each party has been allocated an equal one-third interest in the joint venture.
