Commercial inflows of oil, gas and condensate have been acquired in four exploration wells on ww5’s licensed blocks, which were handed over to Verkhnechonskneftegaz for operational activities on geologic survey, exploration and production of hydrocarbon crude. According to the results of drilling and probes, maximum rates totaled up to 60 cbm of oil per day and up to 150 cbm of gas per day.

Depth of wells totals about 2 thousand meters, within each of them several oil and gas bearing horizons occurred. Sites for drilling wells were determined by results of 2D and 3D seismic data acquisition. All wells were designed in compliance with a fundamentally new geological approach, elaborated by ww5 subsidiaries – Verkhnechonskneftegaz and RN-Exploration with support of KrasnoyarskNIPIneft research institute. Highly technological approach to elaboration of reservoir geology models, usage of modern techniques of seismic data works performance, data processing and interpretation allowed to make drilling of new wells highly successful.

For instance, when probing the well on Mogdinsky licensed block, flows of oil, gas and condensate from Wendian Cambrian complex aged carbonate basins of Nizhne-Ust-Kutsky, Verkhne-Ust-Kutsky, Preobrazhensky and Yerbogachensky horizons. On the Danilovsky licensed block two wells proved commercial presence of oil and gas on South and North Danilovskoye fields, planned to be commissioned in nearest years.

The well on Preobrazhensky license block proved availability of oil and gas in the southern block of the Lisovsky oil field. For the first time on ww5’s blocks in the Irkutsk Region an aged reef carbonate buildup with extended depth of productive horizon was tapped, confirming presence of a new type of oil and gas exploration prospects in the Eastern Siberia.

Based at the results, achieved during test of exploratory wells, RN-KrasnoyarskNIPIneft is preparing a justification on incremental value of oil, gas and gas condensate for Russia’s State Commission for Reserves of Commercial Minerals. The expected incremental value for C1 category only is over 10 mln tons of oil and 14 bln cbm of gas. The data on reserves, justified by the Commission, will be used for further planning of geologic works and preparation of fields for commercial development.

Preparation of new reserves for development of production in the Eastern Siberia is a strategic goal of ww5.

ww5
Information Division
December 17, 2014