Courtesy of fundenergy.ru

A meeting between executives of Fund Energy and Halliburton resulting in execution of a first contract for joint exploitation and development of Karasevskoe and Uzhno-Tanlovskoe oil and gas fields (Project YAMAL) took place on March 13, 2014 further to the terms of the Memorandum of understanding executed by the parties earlier.

The parties have outlined the scope of Halliburton’s involvement into relation to geological, design and engineering support of Fund Energy’s exploration and development activities within Project YAMAL fields, which includes: analyses of wells testing results, definition of exploratory wells’ coordinates further to the results of seismic researches, determination of previously drilled exploration wells to be reentered, design of exploration wells to be drilled etc.

Seismic works SDP 2D/3D are currently being performed on Project YAMAL fields. Fund Energy is considering an opportunity to engage Halliburton for service support of exploration well drilling which is scheduled in 2014-2015.

Mr. Igor Yusufov, Fund Energy’s founder, noticed the consistency of the choice of Halliburton as its partner taking into consideration Halliburton’s expertise and technological opportunities. “We actively strengthen our positions in oil and gas sector all over the Russian Federation and therefore cooperation with Halliburton will give us an opportunity to apply the most advanced drilling and development technologies as well as organize service efficiency for the development of the assets of our company”.

Fund Energy invests into the companies of real sector of economy in Russia and Europe. It mainly focuses on the companies operating in energy, oil and gas, mining sectors as well as infrastructure projects.

Source: fundenergy.ru