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“RussNeft” is drilling the first well at Tsentralnoye oilfield in Udmurtia.

02.09.2009 "AK&M"

Izhevsk. OAO NK “RussNeft” is drilling the first well at Tsentralnoye oilfield in Udmurtia in the frameworks of the investment project. So runs the company’s report.

The investments project includes drilling of 5 wells with the average start-up flow rate 47.5 tonsday.It is planned before the end of 2009 to have put into operation 4 new wells, the expected extra production is 32.773 thousand tons of oil.

Putting new production capacities into operation must compensate partly the decrease of oil production at the oilfields of “Belkamneft” group, which are now at the late stage of development and will permit to fulfill the parameters of the business plan, tax and social obligations of the company.

OAO “RussNeft” is planning in the first quarter of 2010 in Udmurtia to out into operation three new wells at Kambarskoye oilfield with the average flow rate of 35 tons/day, extra production due to putting into operation these new wells will amount to 26.529 tons of oil. Exploitation of these wells will be effected simultaneously for two objects of development using the equipment for dual completion.

OAO “Belkamneft” is a subsidiary of “RussNeft”. The company was incorporated on April 30 1997 as ZAO (Closed Type Joint Stock Company) “Belkamneft” . In 1998 it was reorganized as OAO (Open Type Joint Stock Company).

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