An affiliate of Lukoil and Bashneft to start exploratory drilling in Nenets Autonomous Area
Vostok NAO (an affiliate of Lukoil and Bashneft) on March 2nd starts to drill the first well at the North-Yareyginsky license site in the Nenets Autonomous Area.
The program of geological exploration for 2016 presupposes the appearance of 2 such objects. In 2016 it is planned to drill another exploratory well at the Yangareysky license site. In 2016 the company will direct over 2.5 bln roubles of investment for geological exploration.
The Nenets Autonomous Area is one of the few Russian regions where oil extraction volumes are growing. In 2015 the growth made up 889 thousand tons or 6.5% of the level of 2014. The total oil reserves in the region are assessed at 2.9 bln tons.
Besides the growth of extraction volumes we have the increase of investment to the main capital by 35%, over 90% of it – investment of oil companies. This is a result of created in the region conditions for our subsoil users, the Governor of the Nenets Autonomous Area, I. Koshin, said.
