Courtesy of salympetroleum.com

Salym Petroleum Development (SPD) obtained the license for geological exploration on Yuzhno-Yamskoy area in Khanty-Mansi Autonomous Okrug – Yugra. Term of the license is 5 years with an opportunity for extension of the geological survey phase. In case a deposit is discovered, SPD will be guaranteed to obtain the exploration and production license for this area.

“For the first time since the day it was established, SPD goes beyond the boundaries of operations on the Salym group of oilfields. Obtaining the license for geological survey of Yuzhno-Yamskoy area is an important step in the implementation of the SPD strategy aimed at production growth both through putting new deposits on the Salym oilfield into development and through acquisition of new fields”, Alexey Govzich, SPD CEO, noted.

Pursuant to the obligations in the license SPD will carry out geological survey of the subsoil. Within the scope of geological exploration the company plans to construct a well for the purpose of confirming presence of oil in the survey target – BS₈ formation.

Yuzhno-Yamskoy license area is located in the Nefteyugansk District of the Khanty-Mansiysk Autonomous Okrug – Yugra (KHMAO), 132 km southwest from Nefteyugansk. It borders on SPD Vadelyp and Upper Salym fields on the west. Territory of the area is 143 km², 2D seismic density is less than 0.3 km/km², with no wells in place.

The amount of prognostic recoverable reserves based on quantitative estimate of crude hydrocarbons (as of 01.01.2009) is 7 million tons for category D₁ and 0.6 million tons for category D₂. Several phases of exploration work in the vicinity of Yuzhno-Yamskoy area were carried out in 1964 through 1989 on account of state funds.

Source: salympetroleum.com