Verkhnechonskneftegaz Achieved Daily Oil Production Rate Over 20 Thousand Tones

Forty five new wells have been commissioned since early 2012, which contributed 5.9 thousand tones to the daily production.

Conversion of natural flow wells within basic well-stock to artificial lift played an important role. By end October, the number of converted wells increased by 16 bringing up the daily production rate by 1.7 thousand tones. Further production increment of 560 tones per day was gained by hydrofracturing of 9 wells.

The active well-stock of Verkhnechonskoye field is steadily expanding with 171 wells currently in operation, of which 100 wells have artificial lift and 71 are natural flow wells.

"Such configuration ensures best possible production efficiency at the current stage of field development", VCNG General Director Sergey Federov believes. "We are meeting the year plan, even exceeding it. By end 2012, the output will reach about 7 million tones."

As of today, 5 million 558 thousand tones of oil have been produced at the VC field.