DOMANIK OIL STARTS DRILLING IN SAMARA

Domanik Oil, the joint venture of Russia’s Rosneft and Norway’s Statoil, started first drilling as part of venture development in Russia’s Samara Region, Rosneft said in a statement: “During the pilot phase planned for 2016-2019, Domanik Oil AS intends to drill and test at least three horizontal exploration wells, as well as to conduct advanced studies at the license areas of Samaraneftegaz, Rosneft subsidiary. The JV plans to use the most efficient development technologies, including multistage hydraulic fracturing.” The statement added that the drilling, aimed at researching tight hydrocarbon reserves of Domanik sediments, creates new grounds for cooperation of the two companies and contributes to fulfilling their previous cooperation agreements.
In 2013, Rosneft and Statoil signed a deal on the key principles of implementation of the joint development project of the Domanik sediments at 12 Rosneft license blocks in Samara Region.
According to Wood Mackenzie, The Domanik formation is one of the major source rocks of the Volga-Urals Basin. It covers an area of over 400,000 square kilometres. Some reports have suggested over a trillion tonnes of buried organic material in the Domanik – potentially leading to around a trillion barrels of oil in place. (Source: Domanik Oil)