OREANDA-NEWS. June 24, 2013. Implementation of a comprehensive program for geological survey of subsoil allowed the Company to double the replacement of C1 oil reserves (124 million tonnes) against the annual production level (61.4 million tonnes).

In 2012, OJSC "Surgutneftegas" carried out exploration in 90 license areas (including 23 exploration areas) in 8 constituent territories of the Russian Federation: in Khanty-Mansiysky, Yamalo-Nenetsky and Nenetsky Autonomous Okrugs, Krasnoyarsky Krai, Republic of Sakha (Yakutia), Tyumenskaya, Novosibirskaya and Irkutskaya Oblasts. The Company spent more than RUB 15.6 bn on exploration in the previous year.

In 2012, exploratory drilling exceeded 229,000 meters (6% increase against the previous year). To prepare for exploratory drilling and obtain detailed geological data, the Company carried out 2D and 3D seismic surveys covering 2,800 linear kilometers and 1,700 sq kilometers, respectively.

Exploration carried out by Surgutneftegas last year resulted in discovery of 6 new fields in KhMAO–Yugra and 12 new oil accumulations.

Surgutneftegas explores and produces hydrocarbons in two oil and gas provinces – Western Siberia and Eastern Siberia and performs exploratory drilling in Timano-Pechora. Today the Company‘s total exploration area covers more than 138,000 sq kilometers.

In 2012, OJSC "Surgutneftegas" was developing 63 oil fields, three new ones – Vostochno-Sakhalinskoye (KhMAO-Yugra), Soimlorskoye (YaNAO) and Vostochno-Alinskoye (Republic of Sakha (Yakutia)) – were put online.

1,325 producing wells, including 99 horizontal wells were added to the Company’s well stock last year. As of early 2013, the total number of wells was 40,523, the number of production wells being 21,140.

In 2012, Surgutneftegas obtained 6 new licenses to produce hydrocarbons including 5 licenses following discoveries made by the Company and 9 licenses for prospecting and appraisal of hydrocarbon fields. The Company won the auction to acquire a subsoil block of federal significance – the part of the Shpilman field (the Severo-Rogozhnikovskoye field).

As of early 2013, OJSC "Surgutneftegas" had 159 licenses for geological survey, exploration and production of hydrocarbons.

The Company has invested more than RUB 35 bn in exploration in Eastern Siberia since 2004. In 2012, exploratory drilling in the Republic of Sakha (Yakutia) amounted to 46,800 meters.

In order to estimate the production potential for tight oil, the Company carries out research and development with a view to enhance oil recovery from Bazhenov, Tyumen and Achimov plays.

This year, OJSC "Surgutneftegas" plans to replace mineral reserves on the basis of exploration and participation in auction for acquisition of new promising areas in Western and Eastern Siberia and Timano-Pechora. Investment in geological exploration will remain on the same level.

In 2013, 204,300 meters of exploratory drilling is planned, as well as 2D seismic surveys of 1,693 linear kilometers and 3D seismic surveys of 1,106.7 sq kilometers. The Company plans to develop two new fields and put in production 1,400 new oil wells. In April 2013, Surgutneftegas brought into development the Eastern Block of the Talakanskoye oil and gas condensate field in the Republic of Sakha (Yakutia). In June 2013, the Company is scheduled to start exploitation of the N.K.Baibakov field in KhMAO-Yugra.

The EOR program implemented in Surgutneftegas to yield some additional oil will ensure over 60% of the Company‘s total production, experts predict.