Vankorneft Increases Scope of Geological Exploration Works to Provide Increment of Recoverable Reserves

In 2014, Vankorneft (Rosneft subsidiary) is planning to carry out the highest scope of geological exploration works during the 10 years of its operation. The works will be focused on oil and gas reserves increment, increase of the resource base and preparation of discovered fields for development.

Prospecting and exploratory drilling plan reaches more than 22 thousand meters. Drilling of prospecting wells at the Pendomayakhsky, Vostochno-Pendomayakhsky, Vostochno-Suzunsky, and Gorchinsky licensed blocks is planned to be carried out, as well as drilling of two exploration wells at the Lodochnoe field, and one exploration well at the Tagulskoe field.

2D seismic of 1 thousand linear km and 3D seismic of 660 sq. km will be carried out at 6 blocks.

In addition to drilling and seismic, there will be performed soil vapor survey, gravity survey, core drilling, core and fluid examination, deep well drilling, including geophysical exploration, well intervention, hydrodynamic and geotechnical research, and vertical seismic profiling. Large amount of scientific research is planned, as well as licensing and subsurface management works.

Ecological monitoring will also be carried out.

Following the results of geological exploration works in 2013, increment of recoverable reserves C1 totaled more than 5 million tons of oil and 3.9 bcm of gas at the Tagulskoe field, and 4.4 million tons of oil at the Suzunskoe field. At the Gorchinskoe field there have been discovered four gas reservoirs of 15.8 bcm.

Testing of wells is in progress at the Tagulskoe and Gorchinskoe fields. Production drilling is expected to start from the Vankor group of fields: Suzunskoe, Tagulskoe, and Lodochnoe. Baikalovskoe, Ichemminskoe, and Gorchinskoe fields were discovered short time ago.

Rosneft Information Division
April 11, 2014