Report: RussNeft says resource replenishment to exceed 100% in 2023

MOSCOW, Dec 8 (PRIME) -- The resource replenishment ratio of Russian oil company RussNeft will exceed 100% of the company’s oil production in 2023, corporate newspaper Vremya RussNefti reported on Friday quoting Vice President for Geology and Development Yevgeny Pitsyura.

“Replenishment of the resource base of RussNeft’s facilities will exceed 100% of production. Our geologists did not discover any new large oil deposits at our old sites. At the moment, our main efforts are focused on exploration of the new licensing sites that the company acquired in 2021–2022. We are carrying out seismic exploration works there, and the works will continue next year,” Pitsyura said, as quoted by the corporate newspaper.

The company has drilled more than 300 wells at the Tagrinskoye and Verkhne-Shapshinskoye oil deposits in Western Siberia in the past eight years., and the drilling program at the deposits has entered its final stage.

The company now prioritizes the Vostochno-Kamennoye deposit, and it will focus its drilling efforts on the hard-to-recover reserves of the deposit’s Tyumen and Vikulov formations next year, he said

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