RussNeft Establishes its Own Research and Technology Center

According to the company’s statement, this move must allow RussNeft to ensure “highly efficient development of its oilfields and proper exploitation of its resources which by this time have significantly increased.”
Many objectives to be accomplished by the Center also include preparation of reservoir engineering documents for the oil producers of the Holding Company to develop their oilfields, and oilfield development efficiency enhancement basing on creating and monitoring oilfield geological and hydrodynamic simulation models.
Moreover, the Center shall control the quality of the research on reservoir engineering and geological study of the subsoil to be done for RussNeft by independent service companies.
The Center is also going to choose subcontractors for research engineering and to submit the reservoir engineering documents to respective authorities for approval procedures. 
The immediate actions of the Center will be aimed at establishing RussNeft corporate standards for research engineering on geological simulation of oilfield development.
In the team of RussNeft Research and Technology Center there are 10 doctors and candidates of science, 2 members of Russian Academy of Natural Sciences, and 2 laureates of the RF Government Premium in Science and Technology.
In compliance with the geography of RussNeft activities in the structure of the Center there have been formed regional units to be engaged in reservoir engineering and development of the oilfields in the Northwest, Povolzhsk, Central Siberian, West Siberian and Ural oil producing sections of the Company.
Oil Company RussNeft OAO is a vertically integrated oil holding company structuring 30 oil producers, 3 oil refineries, 2 transport companies and an up-to-date retail network with 300 gas-filling complexes. The enterprises of the company are situated in 17 regions of Russia and CIS.
The geography of RussNeft activities takes in Western Siberia, Tomsk, Novosibirsk, Ulyanovsk, Penza, Volgograd, Bryansk, Leningrad, Vologda, Smolensk, Saratov, Orenburg and Krasnodar region, republics of Udmurtia, Komi and Belarus. The company’s head office is found in Moscow.
RussNeft total recoverable reserves exceed 630 million tons and its annual oil output has reached 17 million tons. In the staff of the company there are more than 17 thousand employees.