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Udmurtneft celebrates 15 years under management of Rosneft and Sinopec

Udmurtneft is the leader of the fuel & energy sector of the Udmurt Republic, which accounts for 60% of the region's oil production. The company is one of the largest taxpayers, employers and investors of the republic

Udmurtneft celebrates 15 years under management of Rosneft and Sinopec

Izhevsk, July 26 - Neftegaz.RU. Udmurtneft celebrates 15 years of joint operation under the management of Rosneft and China´s Sinopec.
In 2006, Sinopec entered the share capital of Udmurtneft and became the 1st Chinese company to participate in an oil & gas production project in Russia.   

Udmurtneft´s annual production amounts to around 6 million tons of oil, or 60% of the region's total oil production.
Over 15 years of collaboration of Rosneft and Sinopec, the company:
  • has produced over 91 million tons of oil
  • drilled more than 1,200 new wells
  • the volume of exploitation drilling has grown 6.3 times
  • the footage in exploitation drilling has increased 8 times
Today, Udmurtneft operates more than 3,800 wells.
Since the beginning of 2020, Udmurtneft has implemented over 1,300 activities in line with its geological and technical activities programme.

One of the key objectives of Udmurtneft is to expand the resource base.
Over 15 years, the total increase in recoverable reserves in the AB1 category has exceeded 109 million tons of oil.
Since 2006, due to exploration works, the increase in reserves:
  • has exceeded 70 million tons of oil,
  • 1,244 sq km was explored through 3D seismic survey
  • more than 4,000 lin km was explored with the 2D method
  • the total remaining recoverable reserves make up about 200 million tons
As part of joint work, the total volume of investments increased by 3.2 times and amounted to RUB 120 billion.
During this period:
  • 38 capital construction projects
  • 775 km of pipelines
  • 205 well pads
  • 900 wells were brought into production
Over 60% of oil treatment and transportation facilities and almost 70% of production wells have been automated by now, and digital models for 24 fields have been created.
Over 15 years, annual energy savings have increased by 45%, reaching 44 million kWh in 2020.

Source : Neftegaz.RU

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