Gazprom Neft launches second project on development of tight oil reserves 11 January 2013

Gazprom Neft has begun drilling the first appraisal well for industrial research and testing of the Bazhenov-Abalaksky stratum of the Palyanovskaya zone at the Krasnoleninsky deposit (being developed by Gazpromneft-Khantosom ).

Drilling is carried out under the Company's program, aimed at development of nontraditional and challenged oil reserves. Studies of the Bazhenov-Abalaksky stratum form a part of the project for building up competence in developing tight oil - carbohydrate reserves located in the Bazhenov, Abalaksky and Frolovsky strata in West Siberia's soils of ultra-low openness but high oil content. These reserves are poorly researched.

The Palyanovskaya zone of the Krasnoleninsky deposit is located in the Oktyabrsky district of the Khanty-Mansi autonomous region. Drilling of the appraisal-producing well shall allow recovery of the core from the Frolovsky, Bazhenov and Abalaksky strata of the Palyanovskaya zone and facilitate hydro-dynamic research. Processing of seismic data obtained before drilling, as well as re-testing of previously drilled wells point to the possible industrial development of the Palyanovskaya zone tight oil reserves.

The Company's experts will appraise the results of the drilling and make a decision on further implementation of the project in spring 2013.

Potential estimate of the Bazhenov-Abalaksky stratum of the Palyanovskaya zone is Gazprom-Neft's second project in the study of possible tight oil production. Similar experience is gained by Sàlym Petroleum Development (SPD) , a joint venture between Gazprom Neft and Shell. The experts of Gazprom Neft, Shell and SPD have drawn up a road map outlining the stages of industrial development of the Bazhenov stratum of the Upper Salym oilfield in the Khanty-Mansi autonomous region.


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