GAZPROM NEFT EXPANDS IN ORENBURG REGION

Gazprom Neft has acquired a company licensed to undertake hydrocarbon exploration and production in the Tashlinsky District of the Orenburg Oblast. The purchase of this new asset creates the preconditions for developing a separate oil production cluster in the southwest of the region. Gazprom Neft has closed its deal to acquire a 100-percent equity interest in Enercom LLC, licensed to undertake geological prospecting, exploration and hydrocarbon production at the Solnechny license block, located in the Tashlinsky District of the Orenburg Oblast. The acquisition of this asset will allow Gazprom Neft to expand its geographic presence and increase its resource base within one of the company’s key regions for development. The Solnechny license block is marked by a low level of investigation. In order to eliminate uncertainties, and in order to clarify the resource base, Gazprom Neft will undertake a range of geological prospecting activities in the Tashlinsky District, including approximately 500 square kilometres of 3D seismic, together with exploratory drilling. This new asset will form part of the Orenburg liquid hydrocarbon cluster, formed in 2011 as part of Gazpromneft-Orenburg. Gazprom Neft’s current assets in the Orenburg Oblast show considerable potential for production growth. According to data as at the beginning of 2018, Gazpromneft-Orenburg’s recoverable ABC1+C2 reserves stand at 193.2 million tonnes, with total recoverable gas reserves at 75 billion cubic metres. The is located on the border of Europe and Asia, in the middle reaches of the Ural River, in the Volga Federal District. Orenburg is the capital city of the region. (Source and image: Gazprom Neft/Drilling rig in Orenburg region)

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October 19, 2018

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