Courtesy of lukoil.com

LUKOIL has applied a new approach to the development of geological-hydrodynamic models used to study the Lower Permian accumulation of Varandey field in the Timan-Pechora Oil and Gas Province on the basis of hydro-dynamic  and geophysical testing of wells.

The application of the new method raises the efficiency of subsequent drilling through minimizing the level of potential development costs.

The new technology will be used across depleted fields with a high water-cut and at the Bazhenov formations.

The new method, devised by the company specialists, relies on the results of the hydro-dynamic and geophysical testing of wells along with the forecast of the natural crevice spread, based on 3D seismic data, to develop geological-hydrodynamic models of formations with complex reservoirs.

LUKOIL is one of the major international oil and gas companies that accounts for more than 2% of the world's oil production and around 1% of the proven hydrocarbon reserves. While having the full production cycle, the Company exercises full control over the whole production chain — from oil and gas production to petroleum product sales. The Russian Federation accounts for 88% of hydrocarbon reserves and 83% of hydrocarbon production, with the main activities concentrated in four (4) federal districts, including the Northwestern, Volga, Urals and Southern Federal Districts.

Source: lukoil.com