Dublin-listed oil company began drilling in Russia

  • Dublin-listed oil company began drilling in Russia
    Independent.t. E.
    Irish oil and gas Explorer PetroNeft has started drilling of C-4 and fracture, the Type of collector in Russia.
    https://www.independent.ie/business/irish/dublinlisted-oil-company-commences-drilling-of-well-in-russia-37191734.html
    https://www.independent.ie/business/irish/article34639253.ece/dc167/AUTOCROP/h342/2016-04-19_bus_20048256_I1.JPG

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Irish oil and gas Explorer PetroNeft has started drilling of C-4 and fracture, the Type of collector in Russia.

The company, which operates in the Tomsk region of Russia, is the owner and operator 50pcs of licenses 61 and 67 on the fracture, Type of manifold.

Drilling began in the last days.

“We started drilling-4 well, which we believe has great potential, as it will test several targets up-DIP from nearby wells that have already tested oil in the same intervals,” Dennis Francis, CEO of PetroNeft, said.

“This is the first well to be drilled by the company on the basis of modern 3D seismic data acquired in 2014.”

C-4 is also designed to further Refine and reduce risks in the areas of fracturing, reservoir to field development.

Three wells were drilled on the field, most recently in 2011, PetroNeft and oil were identified and tested in four different intervals in the field.

-4 well is designed to test most of the field, which is structurally higher than in the previous wells on the basis of recent data, and therefore has the potential to “significantly increase” the potential of recoverable reserves, the company said in a statement to the stock exchange.

The company was previously the subject of meetings of the battle, as the largest shareholder Natlata had problems with management in business areas.

In the end, agreement was reached that saw the ultimate beneficial owner Natlata Maxim Korobov joined the Board of PetroNeft.

Mr. Korobov was a former member of the Russian Parliament for the United Russia party of Vladimir Putin. He is also a former Russian soldier who was wounded during the Soviet-Afghan war.

(Additional reporting Reuters)

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