Production

 

The company's focus currently is on the activities to develop Borkmosskoye, Fedortsovskoye and Kulighinskoye oil fields. These oil fields hold several temporary abandoned oil wells. The oil wells were drilled and documented as oil discoveries, often more than 25 years ago. Immediately at the time of drilling, wells were carefully sealed pending a subsequent decision to start production. The Group regards the reworking of the wells as an opportunity to achieve production with limited investments. Activities are under way to organizing all contractual aspects to obtain official permission to start production from these wells.

On 12 September 2013 the Group's subsidiary OOO Praim signed an agreement to buy out the well Nr24 on Fedortsevskoye field from Lukoil. The transaction was finalized in Q4 2013. Furthermore, OOO Praim defended the project in Permnedra for test production of wells Nr21 and Nr24 on the Fedortsevskoye field allowing the company to start the production from those wells as soon as the renovation of the well is complete. In Q4 2013 the Group also made investments in building the basic construction roads to the Fedortsevskoye field and started construction of the oil production terminal on the Fedortsevskoye field to prepare the field for the production. Land leases for the necessary land plots have been signed. To start the production from Fedorsevskoye field the group needs to finalize the well renovation.


bopd

 

 

Fedortsovskoye Oil

Total

2014

Jan

 

0

0

2014

Feb

 

0

0

2014

Mar

 

0

0

2014

Q1 AVG

 

0

0

2014

Apr

 

0 0

2014

May

 

0 0

2014

Jun

 

0 0

2014

Q2 AVG

 

0 0

2014

H1 AVG   0 0

2014

Jul

 

0 0

2014

Aug

 

0 0

2014

Sep

 

57 57

2014

Q3 AVG

 

19 19

2014

Oct

 

41 41

2014

Nov

 

97 97

2014

Dec

 

101 101

2014

Q4

 

80 80

2014

12M AVG

 

24 24

2015

Jan   95 95

2015

Feb   96 96

2015

March   80 80

2015

Q1 AVG   90 90

2015 

April      

2015

May      

2015

June      

2015 

Q2 AVG