RUSSIA LOOK FOR MORE GAS

Varyeganneftegaz, a subsidiary of Rosneft, is launching the first stage of a program to look for more gas at the blocks licensed to it in the Khanty-Mansi autonomous area (Yugra). This was discussed at a round table on the development of Rosneft's subsidiaries in Yugra. The focus will be on the Vanyegan and North Varyegan blocks, said Varyeganneftegaz press service.

After a detailed 3D seismic, three exploration wells were set up at the North Varyegan deposit alone. When drilling there is completed, comprehensive development of the block will begin. Varyeganneftegaz estimates its current recoverable resources of natural gas at 238bn cubic meters. It is going to implement a comprehensive project to increase gas production over the next several years.

The round table discussed also oil production. Varyeganneftegaz's oil deposits are its main resource, estimated at more than 550mn tons. According to the Western classification, the firm's reserve production ratio is estimated at around 30 years, and according to the Russian one it equals 100 years.

O&GE