NINE TIMES MORE
Rospan International (Rosneft subsidiary) carried out a record hydrofracturing at the Urengoiskoe field, which resulted in the 9 times increase of production rate.
There had been pumped 400 tons of proppant to benches of Achimov formation, which proved the efficiency of a record hydrofracturing at the 2-06-03 well. The previous record was 312 tons.
Following the results of the well performance, gas flow rate increased from 70 to 600 thousand cubic meters daily, and condensate increased from 12 to 200 tons daily. Meanwhile, bottom hole pressure is close to dew point pressure, which provides optimal conditions for the deposit exploitation. New approach to hydrofracturing allowed to increase the efficiency of operated activities by 50%.
Obtained results are directly consequential on systematic work carried out by enterprise geologists aimed at optimization of hydrofracturing technology, and give assurance in high recovering rates stipulated in the Rospan investment project of full field development.
Notes for Editors
Rospan International was the first enterprise to develop Achimov gas-condensate accumulations. It has been recovering gas and condensate at the Vostochno-Urengoisky and Novo-Urengoisky license blocks (the Yamalo-Nenets Autonomous District) since 1996.
Ultimate reserves of hydrocarbons at these license blocks total about 1 trillion cubic meters of natural gas, 150 million tons of gas condensate, and 46 million tons of oil.
Rosneft is intended to increase Rospan gas recovery up to 5.6 billion cubic meters in 2016, and to 18.4 billion cubic meters in 2018, which is stipulated in the integrated project of full-scale development of the Novo-Urengoisky and Vostochno-Urengoisky license blocks.
Within the scope of the project it is expected to drill and equip 275 exploitation gas-condensate and 19 oil wells, construct complex gas treatment plants, a condensate stabilization unit, an oil treatment unit, a railway liquid bulk terminal, and significant amount of pipelines of different application.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.