RusPetro signs tight oil technology partnership with Schlumberger


RusPetro signs tight oil technology partnership with Schlumberger


LONDON -- RusPetro said it has signed a technical partnership agreement with Schlumberger to advance its field development plan and drill a number of horizontal, multistage fractured wells using tight oil technology and technical expertise.

A Schlumberger team will work alongside Ruspetro's technical team in the Moscow offices to grade current and future drilling locations for appraisal and development wells.

Additional subsurface work aimed at increasing resolution and predictability in subsurface model will allow RusPetro to upgrade Ruspetro's field development plan and gain a better understanding of production variability.

Initial appraisal drilling will include detailed logging and coring of the Jurassic and Bazhenov zones to better refine and resolve the geological model. Schlumberger's remuneration is directly linked to production results.

Ruspetro's 300,000-acre Bazhenov shale formation will benefit from 100% relief from Russia's Mineral Extraction Tax.

Whilst the main focus of the technical partnership is to maximize productivity from the Company's Jurassic reserves, the Bazhenov shale layer will also be cored and logged as a basis for the future development of this formation.

Dow Jones Newswires

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