Courtesy of salympetroleum.com

In 2016 the total annual production from the Salym oil fields in Western Siberia, developed by Salym Petroleum Development N.V. (SPD), made 6.166 mln tons. For the first time since 2011 SPD has managed to ramp-up the production. The production has increased by 56K tons (or 0.92%) compared with 2015.

“SPD has succeeded not only in production ramp-up, but also in delivering annual production plan ahead of schedule. However, this is not so much the figure that matters here but the fact that we have turned around the declining production trend and are set for growth again. It is untypical situation for mature oilfields. Thus, our company to a large extent changes the conventional concepts of field development phases and is steadily moving to our goals”, told Alexey Govzich, SPD CEO.

SPD increased oil production due to successful implementation of a set of well interventions, revision of the drilling program and active construction of horizontal wells. For the first time in its history, SPD started constructing this type of wells in 2016. The company drilled 28 horizontal wells, including 2 wells with multi-stage hydraulic fracture stimulation.

The total cumulative Salym fields oil production volume since the start of the Salym project in 2003 exceeded 70 mln tons.

Salym Petroleum Development N.V. (SPD) is a Joint Venture set up in 1996 with a view to develop the Salym group of oilfields in Western Siberia. SPD shareholders on a 50:50 basis are Shell Salym Development B.V. and Gazprom Neft.

Source: salympetroleum.com