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Rosneft and Bashneftegeofizika agreed on the development of high-tech drilling equipment
25 May 2018
During the St. Petersburg International Economic Forum, Rosneft and Bashneftegeofizika concluded an agreement on cooperation in the development of technologies and high-tech LWD equipment for horizontal wells drilling, as well as equipment for pay zones well testing in the exploration drilling of oil and gas wells.
The volume and complexity of the construction of horizontal wells in the Company's fields in recent years has been constantly increasing. The share of horizontal wells in the total amount of drilling increased to 36% in 2017. The number of new horizontal wells with multistage hydraulic fracturing increased by 67%. For instance, in the first quarter of 2018, the number of new horizontal wells with multi-stage hydraulic fracturing put in operation increased by more than 65% compared to the first quarter of 2017.
The use of high-tech equipment in the construction of horizontal wells with long horizontal sections will increase the amount of the developed hydrocarbon reserves and well productivity.
The joint development of technologies with the involvement of Bashneftegeofizika as a highly qualified technological partner with the required experience and competencies will improve the efficiency of production operations and reduce dependence on imported technologies in the construction of wells.
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Bashneftegeofizika is the largest domestic oilfield service company with more than 85 years of history. It provides subsoil users with a full cycle of oil and gas services, develops and produces a wide range of logging equipment, tools and special-purpose machinery.
The strategy Rosneft-2022 was approved by the Rosneft Board of Directors and sets the goal of technological breakthrough in the production of liquid hydrocarbons. To this end, the Company plans to increase the share of high-yield horizontal wells up to 40% by 2020, as well as to actively apply high-tech completion methods, including multi-stage hydraulic fracturing of both new and existing wells.
Rosneft Information Division
Tel.: + 7 (499) 517-88-97
25 May 2018
These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.