Gazprom Neft and Halliburton sign technological cooperation accord

Employees of Gazprom Neft and Halliburton will meet regularly to share research information and discuss how best to proceed with the technological upgrading.

Specialists from Gazprom Neft will pass on up-to-date project data to Halliburton’s experts who will advise on process solutions for Gazprom Neft’s fields. Gazprom Neft employees will attend special technical seminars to learn about Halliburton technology. These seminars will focus on working with hard-to-recover reserves, unconventional resources, deepwater drilling etc.

An executive committee with representatives from the two companies has been established as part of the agreement. The two companies will also review scientific research projects by Russian research centers and universities looking at new exploration and reserve management technology.

Vadim Yakovlev, First Deputy CEO of Gazprom Neft said:
“Gazprom Neft’s strategy is to increase hydrocarbon production to 100 million tonnes of oil equivalent by 2020. We estimate that more than half of our oil will be produced with the use of innovative technology. We appreciate that enhancing the development efficiency of mature fields and launching major new projects will involve technological challenges. Therefore we are cooperating with Russian and international service companies to identify the modern technology that will meet these challenges at our oilfields.”

Konstantin Schilin, General Director of Halliburton Russia said:
“Halliburton invests significant funds and resources into research and development of new technologies for the exploration and production of hydrocarbons. This innovation allows us to continuously perfect our capabilities and offer efficient solutions to lower cost per BOE for our customers.”

Halliburton is one of the world’s largest providers of products and services to the energy industry. With more than 75,000 employees in approximately 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir — from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field.

The development of hard-to-recover reserves is one of the key areas of Gazprom Neft’s strategy. The programme approved in 2012 includes the addition of 60 million tonnes of reserves by 2015, and by 2020 this will reach 300 million tonnes. In addition Gazprom Neft is involved in the development unconventional resources, including shale oil production at the Bazheno-Abalaksky play of the Palyanovskaya zone at the Krasnoleninskoye field in the Khanty-Mansi Autonomous Area. In 2013 the Company has been developing its multilateral well drilling and multi-stage fracking projects.

Gazprom Neft works with leading oil service companies. In cooperation with Schlumberger drilling specialists, in 2012 Gazprom Neft launched an innovative Drilling Support Center for the construction of complex wells. This will develop horizontal wells and multi-lateral wells with multistage fracking. The Center supported the construction of more than 150 wells in 2012 and will be working on an even greater number of projects in 2013.