SPD starts drilling horizontal well for Bazhenov field exploration

1/14/2014

SPD starts drilling horizontal well for Bazhenov field exploration

MOSCOW -- Salym Petroleum Development has started drilling the first horizontal appraisal well in the Bazhenov formation in Upper Salym as a part of pilot project which provides for construction of five horizontal appraisal wells in 2014-1015 using multifrac technology.

During the last three years SPD conducted extensive studies to reduce the geological uncertainties of developing the Bazhenov formation, including the drilling of three vertical exploration wells in Upper Salym, 3D seismic, coring and well logging.

In addition, SPD conducted extended tests of two wells to assess the productive potential of the Bazhenov formation. This study helped to reduce geological uncertainties and enabled SPD specialists to define the requirements for surface infrastructure and oil recovery method.

“Together with our ASP EOR project, Bazhenov development is an important element of our growth strategy. Results of preliminary studies demonstrated that the approach taken by SPD can enable the company develop hard-to-recover resources in an environmentally safe and efficient manner. We hope that the pilot project will allow us and our shareholders to make decision about moving to a large-scale development of Bazhenov formation in the Salym fields”, said Oleg Karpushin, SPD CEO.

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