Rosneft began independently developing a project with hard-to-recover oil

Rosneft began independently developing a project with hard-to-recover oil

Rosneft began independently developing a project with hard-to-recover oil

MOSCOW (Reuters) – Russia's largest oil company, Rosneft (MCX: ROSN), has begun drilling as part of a project to study Domanik deposits in the Volga region, which is expected to increase oil reserves by more than 70 million tons, the company said on Thursday.

Several years ago, the West imposed sanctions for the participation and supply of equipment to projects of the Russian Federation with hard-to-recover (TRIZ) and offshore reserves, which are promising points of growth in raw materials production for the country in the future, since traditional reserves are depleted. Because of these restrictions, Russian oil companies were forced to slow down the development of some projects.

Rosneft announced on Thursday that the project in the Orenburg region is the first one to study hard-to-recover reserves, implemented by the company itself. Completion of drilling a horizontal well in the Kutuluk license area with Domanik deposits, which the Volga-Ural oil and gas province is rich in, is scheduled for 2021, Rosneft said.

Domanik sediments are low-permeability siliceous-carbonate sediments classified as hard-to-recover.

Earlier, the company announced the resumption of drilling in the Kara Sea, despite the sanctions against Russian offshore projects. Due to the sanctions, the American ExxonMolil was forced to suspend work in the Russian water area.

(Olesya Astakhova; editor Anton Kolodyazhny)

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