Oil production
The Company possesses a well-balanced portfolio of assets located in the key Russian oil and gas provinces (West Siberia, Volga-Urals and Central Siberia). The Company's 2P reserves according to the international classification (SPE-PRMS) amount to 224 million tons. The АВ1С1+В2С2 reserves of oil and condensate under the Russian classification are estimated to be 628 million tons.
At the end of 2023, oil production amounted to 6.43 million tons. The operating well stock reached 1,966 wells, while the injection stock is 675 wells.
In 2023, a total of 69 new oil wells were commissioned with additional production of more than 535 thousand tons. GTM on declining well stock allowed to produce additionally more than 262 thousand tons. Well interventions were carried out at 381 wells.
The Company's strategy provides for investment activities aimed at the organic growth of production drilling, the commissioning of new reserves in promising areas, the creation of new and modernization of existing infrastructure, as well as the achievement of stable growth in the medium term.
The main goals of the RussNeft production complex within the framework of the approved development strategy are to ensure stable growth of hydrocarbon production and increase in the resource base.
To achieve these goals, a number of effective production programs have been developed that allow to form an optimal development and production management system and to reduce operating costs.
- Implementation of the program of additional appraisal of deposits and exploration;
- Implementation of engineering and technological solutions for the effective development of low-margin deposits and hard-to-recover reserves (HTR);
- Introduction of innovative methods for intensifying oil production from HTR and increase in oil recovery;
- Improving the operation efficiency of mature fields;
- Implementation of measures to raise the technological support for oil production process;
- Monitoring of field development using permanent geological and hydrodynamic models.