VCNG ensured 120 percent growth in oil production

Февраля 08, 2011

OJSC VCNG closed the year of 2010 with a considerable growth in operations. The total volume of produced hydrocarbons exceeded the analogous parameter of 2009 by 120 percent and amounted to over 2 mln 600 thousand tonnes. Operations were boosted in all spheres of activities.

Capital expenditures amounted to 13 bln 890 mln rub. including 5 bln 660 mln for construction and 6 bln 470 mln for drilling.
According to the Drilling Programme, 47 wells were drilled in 2010, what is 15 percent higher than the previous year parameter.
Works were performed on 67 facilities based on the Construction Programme. 62 facilities were commissioned including 23 facilities transferred from the previous years’ incomplete construction stock. This helped decrease the total number of incomplete construction facilities by 65 percent.
In 2010, OJSC VCNG started up two facilities being of strategic importance for the Company: Expanded Oil Treatment Unit-1 (OTU-1) with a capacity of 3 mtpa and Captive Power Station – 2 (PS-2) with a capacity of 26 MW.
Over 600 mln rubles were spent on VCNG Geological Programme in 2010. A considerable part of funds, about 590 mln, was spent on 3D seismic.
New technologies became one of the drivers for operations growth. In 2010, OJSC VCNG selected two technologies to treat bottomhole zones. At an average, oil recovery grew up to 40 tonnes per well. Similar incremental production was achieved due to hydrofracturing of formation. 10 frac jobs were performed in 2010.