GAZPROM NEFT DISCOVERS NEW FIELD IN YAMALO-NENETS AUTONOMOUS OKRUG WITH RESERVES OF 40 MILLION TONNES

2016/11/09

www.gazprom-neft.com

A new oilfield has been discovered at the Zapadno-Chatylkinsky license block, Yamalo-Nenets Autonomous Okrug, under licence to Gazprom Neft subsidiary Gazpromneft-Noyabrskneftegaz. Drilling of three exploratory wells has revealed six independent oil deposits, with total geological reserves estimated at more than 40 million tonnes, subsequently confirmed by the State Commission on Mineral Reserves.

The newly discovered field forms part of the Jurassic Sigovsky formation*, the most promising such formation for oil prospecting in the south of the Yamalo-Nenets Autonomous Okrug. Gazprom Neft will be undertaking further investigations into the Zapadno-Chatylkinsky block over the next few years, and plans to commence commercial development in 2018.

Gazprom Neft acquired the licence for developing the Zapadno-Chatylkinsky block in 2012. Geological prospecting operations at the block are expected to include approximately 2,000 square kilometres of 3D seismic works, as well as the drilling of 11 exploratory and prospecting wells.

Alexander Dyukov, CEO and Chairman of the Management Board, Gazprom Neft, commented: “Gazprom Neft continues its intensive development of both new and traditional areas in oil production. Thanks to the company’s current strategy of reserve replacement and maintaining investment in geological prospecting works, we are increasing reserves not just through further exploration of our existing fields, but also through new discoveries. Effective planning and the use of cutting-edge technologies has allowed Gazprom Neft to achieve a 96-percent success rate in exploration drilling.”

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