Gazprom Neft starts tight oil work

Jan. 11, 2013 at 10:01 AM

MOSCOW, Jan. 11 (UPI) -- Russian energy company Gazprom Neft announced Friday that it started drilling an appraisal well in Western Siberia, its second tight oil project.

"The drilling is part of the company's program to develop unconventional and hard to recover oil reserves," the oil arm of energy company Gazprom stated. "Exploration ... is part of a project to improve tight oil expertise in order to develop hydrocarbons located in the Bazhenov, Abalakskaya and Frolovskaya formations."

Gazprom Neft said it expects the region may have "high oil content," though it hasn't been explored extensively. Tight oil could be produced, however, based on the results for seismic data.

The company said it would examine the drilling results in the spring.

Gazprom Neft said it was involved in a similar development its joint venture operator with Shell, Salym Petroleum Development. Drilling is expected in the Bazhenov reservoir by 2014.

"Gazprom Neft, Shell and SPD produced a road map, which sets the stages leading toward full-scale development of the Bazhenov formation at the Verkhne-Salymskoye oil deposit in the Khanty-Mansi Autonomous District," the company said.

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