VARIOGANNEFT SUMMARIZED ITS 2016 PERFORMANCE
Raduzhny. OAO Varioganneft, subsidiary of PJSC “RussNeft”, produced 2,375,764 tons of oil and 1,636 million cubic meters of associated petroleum gas at the fields of Variogan oil block in 2016. Following the year results, the company increased its cumulative production of oil by 11% and that of gas by 38%.
In 2016, the joint stock company continued to develope the licenses involving previously undeveloped fields. Tagrinskoye field was actively drilled during all the year with the focus on Achimov deposit. The company commissioned 54 new wells at the license area which allowed it to produce additional 420,009 tons of oil.
Efficient well interventions definitely favoured the production growth: side tracking rendered 78,995 tons of oil, hydraulic fracking added 66,733 tons of oil, optimization of the wells operation – 24,250 tons of oil and 13,757 tons were extracted by returning to other horizons. The cumulative effect from all the well interventions in 2016 is estimated by the Company as 670,075 tons of oil.