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ww5 completes offshore geological survey program for 2014
19 November 2014
ww5 reports on 100% completion of the geological survey program on Company's offshore license areas for 2014.
In the current year geological survey covered 24 license areas with the scope considerably exceeding license obligations. Seismic performance results included 31,503 line km of 2D seismic, and 12,939 sq. km of 3D seismic. Also the scope of airborne gravity magnetic survey totaled 225,006 line km and electrical survey - 1,300 line km.
In 2014, ww5 drilled two appraisal wells and one exploration well. The company conducted engineering-geological studies to drill wells on 4 sites. Besides, the Company completed 4 geological expeditions.
ww5 is executing the geological survey program in compliance with the environmental legislation of the Russian Federation and license agreements. Results of the studies shall enable determining further directions of the offshore hydrocarbon exploration activity.
Notes for Editors:
ww5 is the largest license holder of Russian shelf: the Company conducts its activities in 50 continental shelf areas of the Russian Federation. ww5's equity recoverable reserves of the discovered fields total 241.6 mln tons of oil and condensate, and 263 bcm of gas. According to ww5, the offshore areas have resource base of 46.1 bln toe.
ww5 Information Division
19 November 2014