RussNeft Established a Research and Technology Center to Develop Project Documents and Perform Oilfield Analysis

The main function of the Center will be to prepare reservoir engineering documents for RussNeft oil producers to develop their oilfields, and to enhance efficiency of oilfield development through building and monitoring geological and hydrodynamic oilfield simulation models.   
In addition, the Center shall control the quality of the research work done on reservoir engineering and geological study of the subsoil to be carried out for RussNeft by independent service companies. RTC shall also choose subcontractors for research engineering and 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 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.
The availability of this Center in the structure of RussNeft will allow the company to enhance efficiency of the development and exploitation of its oilfields. As President of RussNeft Mikhail Gutseriev pointed out “the RTC is a cerebrum of the Holding Company, whose functioning will allow to efficiently develop oil and gas fields, to quickly and effectively draw up action programmes on exploration, drilling and oil production.”