Samaraneftegaz launches exploratory works in the new licensed blocks

The reserves of АВ1С1+В2С2 recoverable oil in the blocks account for 8.1 mmt, whereas the recoverable resources make up 27 mmt.

The blocks were acquired in order to expand the resource base and replace the reserves of recoverable carbohydrates so that the stable medium-term and long-term production is reached.

The company’s implementation of the prospecting and exploratory drilling programme ensures a reserve increment of over 10 mmt of oil annually. The footage of prospecting and exploratory drilling last year amounted to 16,000 m of earth material.

Samaraneftegaz performs its works in 166 licensed blocks located in Samara and Orenburg Oblasts. The company has acquired 14 new licensed blocks in the past three years.

Cumulative oil production has amounted to over 1.2 bmt since the start of the company’s activity.