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Verkhnechonskneftegaz Explores New Licence Areas

26 February 2019

As an operator, Verkhnechonskneftegaz Joint-Stock Company launched field seismic exploration works at the Markhayansky licence area of Rosneft Oil Company, the resources of which is estimated at 50 million tonnes of oil. The area is located on the territory of Katangsky District of Irkutsk Region, 200 km from the Verkhnechonsk field.

There are 200 square km of 3D seismic works scheduled for the first stage of the exploration. Upon received results and their analysis, the geological structure of the area will be detailed, the promising structures detected, and a decision on exploratory drilling made.

Also, there are field seismic exploration works being carried out at the East-Sugdinsky and Mid-Kochemsky licence areas in 2019. The scale of the 3D research is 570 square km and 300 square km respectively.

In 2018, field 3D seismic exploration works were performed at the Danilovsky, East-Sugdinsky, West-Chonsky, and Mid-Kochemsky licence areas operated by Verkhnechonskneftegaz. The researches were aimed at preparation of found promising objects to exploratory drilling.

Note for Editors:

Verkhnechonskneftegaz Joint-Stock Company is developing the Verkhnechonskoe oil and gas condensate field, one of the largest in Eastern Siberia, located in the Katangsky District of the Irkutsk Region.

In addition, Verkhnechonskneftegaz is operating the licence areas of Rosneft Oil Company in Irkutsk and Krasnoyarsk Regions.

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February 26, 2019