PetroNeft hits Russian pay

May 22, 2015

PetroNeft Resources discovered oil at the Sibkrayevskoye appraisal well and spudded wells in its oil and gas license, Tungolsky License 61 in the Tomsk Oblast, onshore Russia.

Sibkrayevskoye

Image from PetroNeft.

The Sibkrayevskoye No. 373 (S-373) well is located in PetroNeft’s 4991sq km Tungolsky License 61, which contains seven oil fields and more than 25 identified prospects and leads.

The well, designed as a follow-up to the S-372 discovery well, has been drilled and tested, with log and core data over the primary J1 sandstone reservoir interval indicating 11.5 m of net oil pay.

A cased-hole drill stem test of the interval -2329 to -2346m total vertical depth flowed at a stabilized rate of 100 b/d on a 4mm choke. The reservoir interval is located about 19m structurally higher than the equivalent oil saturated interval in the S-372 well.

According to PetroNeft, independent resources estimated the 2P reserves at more than 50 MMbbl prior to drilling S-373, making this the largest oil field discovered in License Block 61 to date. Current gross production at License 61 is about 1950 b/d.

A development decision is expected in 3Q 2015 with production expected in 2016 using a combination of horizontal and vertical wells.

“We have confirmed good continuity of the main reservoir interval and an encouraging unstimulated oil production rate of 100 b/d with natural flow,” Dennis Francis, PetroNeft  CEO said. “Flow from the well with a pump would be a multiple of this level. Based on the well results and an initial review of the new seismic data it is likely that the field will ultimately prove to be larger than the currently estimated 50 million barrels 2P.

Tungolskoye development

PetroNeft also announced the spudding of the Tungolskoye T-51B well, which is designed as a vertical producer and stratigraphic control well in the southwestern part of the field. The company anticipates that there will be five to six horizontal and five to six vertical wells drilled as part of the Tungolskoye development.

Construction of the 25km pipeline and utility line to connect the Tungolskoye field back to the Lineynoye central processing facility has been completed ahead of schedule and are currently being commissioned. The pipeline is currently being filled with oil from the T-5 well, PetroNeft said.

West Lineynoye

PetroNeft spudded the L-10 horizontal well, designed as an initial vertical pilot to test the J1-1 and J1-2 reservoir intervals to the east of the L-8 well, followed by a 300m horizontal segment in the J1-1 interval.

The well will intercept the J1-1 reservoir about 30m higher on the structure to the L-8 exploration well, which is currently producing 50 b/d from a vertical section of the J1-1 sandstone. The well will be drilled from a surface location near the L-8 well and can immediately be tied-into the Lineynoye CPF utilizing the existing L-8 infrastructure, the company said.

“We are also pleased that new production wells are now underway at both the Tungolskoye and Lineynoye oil fields. Current production is about 1950 b/d and based on recent results, we continue to expect to almost double this figure by the end of the year,”Francis said.



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